You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

DUBLIN, Oct. 16, 2020 /PRNewswire/ -- The "Power Cables - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. The publisher brings years of research experience to the 7th edition of this report. The 199-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Global Power Cables Market to Reach $135.2 Billion by 2027Amid the COVID-19 crisis, the global market for Power Cables estimated at US$91 Billion in the year 2020, is projected to reach a revised size of US$135.2 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027. Low-voltage power cables, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$23.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Medium-voltage power cables segment is readjusted to a revised 6.4% CAGR for the next 7-year period.The U.S. Market is Estimated at $24.7 Billion, While China is Forecast to Grow at 8.8% CAGRThe Power Cables market in the U.S. is estimated at US$24.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$28.4 Billion by the year 2027 trailing a CAGR of 8.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.High-voltage power cables Segment to Record 5.5% CAGRIn the global High-voltage power cables segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$36.1 Billion in the year 2020 will reach a projected size of US$50.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$18.2 Billion by the year 2027, while Latin America will expand at a 6.7% CAGR through the analysis period. Competitors identified in this market include, among others: Belden, Inc. Encore Wire Corporation Finolex Cables Ltd. General Cable Corporation Hangzhou Cable Co., Ltd. Hengtong Group Co., Ltd. KEI Industries Ltd. LS Cable & System Ltd. Nexans SA NKT A/S Prysmian Group Southwire Company LLC Sumitomo Electric Industries Ltd. TPC Wire & Cable Corporation Key Topics Covered: I. INTRODUCTION, METHODOLOGY & REPORT SCOPEII. EXECUTIVE SUMMARY1. MARKET OVERVIEW Global Competitor Market Shares Power Cables Competitor Market Share Scenario Worldwide (in %): 2019 & 2025 Impact of Covid-19 and a Looming Global Recession 2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSISIV. COMPETITION Total Companies Profiled: 58 For more information about this report visit https://www.researchandmarkets.com/r/wppa94 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1904 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com

Answer: Worldwide Power Cables Industry to 2027 - Impact of COVID-19 on the Market