High Voltage Cables Market Analysis, Market Share, Application Analysis, Regional Outlook, Competitive Strategies & Forecast by 2024 -P&S Intelligence

Press Release

A high-voltage cable (HV cable) is used for electric power transmission at high voltage. The cable includes a conductor and insulation, and is suitable for being run overhead, underground or underwater. This cable has a wide array of applications including in ignition systems, instruments, and for direct current (DC) and alternating current (AC) power transmission. In the report, the high voltage cables market is segmented on the basis of installation, product type, voltage, and region.

The major trend identified in the global high voltage cables market is the growth in energy infrastructure, coherent integration of energy efficient systems, and projects for centralization and decentralization of grids. This is likely to offer traction to the market.

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On the basis of product type, the high voltage cables market is categorized into overhead products, underground products, and submarine products. The overhead products include conductors, fittings, and fixtures, and others. Furthermore, the underground and submarine products comprise cross-linked polyethylene (XLPE) cables, mineral insulated (MI) cables, cable joints, cable terminations, and others.Based on region, the high voltage cables market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). Several developing countries have an old power transmission infrastructure that offers inefficient power supply and eases power theft. Countries across regions are in process to overhaul/upgrade grid infrastructure to provide continuous power supply, combat power thefts, and avoid power shortages. For instance, the U.S. and China are investing in infrastructure for renewable power generation. This in turn increases application of HV cables in integrating power generating sources (both, offshore and onshore projects) to centralized power grids, thereby demonstrating the demand for HV cables.

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Drivers

Key factors supporting the growth of the high voltage cables market include the increased governments’ initiatives in smart grid technology and offshore power projects, worldwide. Several developing countries have conventional power transmission infrastructure that offers inefficient power supply and eases power theft. These factors are prompting utility providers to improve the existing power transmission infrastructure, which is expected to create the demand for HV cables. Since, projects for power generation through renewable energy sources are increasing every year, therefore efficient transmission network is required to connect generation plants and consumption centers, which is likely to bolster the growth of the market.

Opportunities

Upcoming renewable energy projects such as onshore and offshore solar farms and winds farms are likely to necessitate the demand for HV cables, and generate application avenues for HV cables. Additionally, these projects are likely to receive support and investment by private and governmental agencies for development and enhancement of the infrastructure to meet power transmission requirements.

High Voltage Cables – Competitive Landscape

Some of the major players operating in the global high voltage cables market are Prysmian S.p.A., Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Nexans Group, LS Cable & System Ltd., El Sewedy Electric Company, Jiangnan Group Limited, Kabelwerke Brugg AG Holding, Dubai Cable Company Pvt. Ltd., Baosheng High Voltage Cable Co. Ltd., TELE-FONIKA Kable S.A., Southwire Company LLC, NKT A/S, Tianjin Suli Cable Group, and General Cable Corporation.

The study provides the historical as well the forecast market size data for various countries including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.

This post was originally published on Technology Trend