February 20, 2020
As per the report titled ‘Global High Voltage Cables Market Size By Voltage Class (50 kV - 110 kV, 115 kV - 330 kV, > 330 kV), By Application (Utility, Industrial) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, UK, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Egypt, South Africa) Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global high voltage cables market is expected to register a strong CAGR over the analysis period.
Ongoing commercialization to meet the global economic demands, and favorable FDI policies promoting the industrial and commercial development are fueling the demand for reliable and intricate power grid infrastructure. Increasing number of data centers and communications base stations have further boosted the demand for optimal energy. These factors coupled with the growing adoption of secure, energy efficient, superior, and advanced cables is driving the growth of high voltage cables market.
Increase in grid-isolated establishments by installers and regulators coupled with favorable policies for electrification in these establishments will provide lucrative growth opportunities in the coming future. Increasing population across cities has boosted peak load demand which has encouraged the responsible authorities to upgrade and upscale the regional electric supply network. In addition, rising consumer demand for a sustainable electricity infrastructure will positively impact the market growth.
Established networks of overhead, underground, and submarine cable technologies are favoring a sustainable business landscape. Increasing investment by manufacturers for R&D along with consumer inclination towards deployment of HV units to increase the service life of electric infrastructure are the other factors propelling the growth of high voltage cables market.
Based on the application scope, the utility segment is expected to show significant growth over the forecast timeline. The growth can be attributed to increasing integration of grid connected renewable energy infrastructure alongside the deployment of decentralized micro-grid networks boosting the demand for technically efficient components. Rising funds by manufacturers to develop smart monitoring and control units will further stimulate the segment growth in the years to come.
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Considering the geographical outlook, Europe high voltage cables market is slated to grow considerably over the analysis period. The growth can be attributed to positive consumer trends towards energy efficiency trends, increasing energy demand, and inflowing funds in the Europe T&D refurbishment industry. The transmission and distribution, and retrofitting industries are playing a key role in boosting the energy demand across the region.
Major players of high voltage cables market include ZTT, Furukawa Electric, Nexans, LS Cables, Prysmian, Elsewedy, Sumitomo, APAR, NKT, Taihan Electric, Gupta Power, Sterlite Power, KEC, Riyadh Cables, Kelani cables, KEI, ABB, Alfanar, and Southwire.
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