December 14, 2020
According to the research report titled ‘North America HVAC Cables Market Size By Voltage By Installation, Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, North America HVAC cables market is expected to grow significantly during 2020-2026.
Strict federal outlook towards energy efficiency, rapid expansion of advanced grid networks and increasing refurbishing and retrofitting activities of age-old infrastructure are key factors propelling the expansion of North America HVAC cables market.
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A high voltage power cable usually requires a conductor as well as cable & joints to ensure the voltage effect is controlled and does not result in insulation breakdown. It is extensively used for underwater or ground deployment. These high voltage power cables help control rooms to switch and control power supply remotely or manually.
Thus, rising adoption of HVAC offshore cables in order to support the integration of renewable power into network grids as well as to offer grid extension from gas, wind, and oil installations is favoring HVAC cables market outlook in North America.
Additionally, focus among leading companies towards deploying technologically advanced HVAC cables for improved power efficiency and stability is also stimulating the industry outlook. However, concerns associated with dependency on imports could potentially inhibit the expansion of North America HVAC cables industry in the upcoming period.
As per voltage type, the report states that 110 kV to 220 kV segment is predicted to garner notable gains for North America HVAC cables industry during the study duration. Increasing emphasis towards restructuring or revamping existing power infrastructure across commercial, industrial and utility sector is fueling the segmental share. In addition, escalating investments towards establishing offshore & onshore projects owing to rising number of interstate as well as intercountry connections are favoring the overall market scenario.
Moving on to installation type, North America HVAC cables market share from overhead segment is expected to grow substantially during the forecast years. Supportive regulatory framework pertaining to development of cross-border electrical networks in consort with increasing number of renovating and revamping activities are facilitating the business scenario in North America.
Considering the geographical landscape, HVAC cables industry size in the United States is likely to register stellar growth during the estimated timespan. High concentration of aging power infrastructure and growing peak load demand have compelled the regional manufacturers to deploy advanced products for higher power stability as well as efficiency, thereby positively impacting the overall market dynamics in the U.S.
Elsewedy Electric Co. S.A.E, Southwire Company LLC, ABB Limited, Taihan Electric Wire Co. Ltd., Furukawa Electric Co. Ltd., NKT A/S, LS Cable & System, Sumitomo Electric Industries Ltd., Nexans S.A., Prysmian Group, ZTT Group are the major companies in North America HVAC cables industry.