September 09, 2019
Global underground cabling EPC market is anticipated to register substantial growth by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
The prevailing industrial scenario is fueling the demand for safe and reliable cable & wire management systems across the utility establishments. This factor, along with modern lifestyle and residential aesthetics will drive the global underground cabling EPC market. Customized product configuration based on the regulatory reforms and regional inclination towards the adoption of renewable energy networks will augment the market growth. Another factor aiding the industry outlook is the electrification of grid isolated areas, cites the report.
Based on the type of configuration, three core underground cabling market is estimated to register significant growth, owing to the large-scale refurbishment and retrofitting of electric infrastructure across industries in emerging economies. Though, the installation of three core cabling systems for more than 66kV electric infrastructure is bulky and costly, but the effective power supply and operation safety reduces the overall losses, thereby propelling the segmental growth.
On the basis of construction, underground cabling EPC market from belted units segment is expected to gain momentum, pertaining to high insulation, superior flexibility, and unique design configuration offered by these units. Industries are shifting their focus towards improvement of these units for safe and secure electricity supply with minimal environmental damage.
According to the study, global underground cabling EPC market growth will be favored by widespread integration of highly insulated cable infrastructure, growing demand for extra high voltage (EHV) cables, and heavy investments by government & private agencies for measures pertaining to energy-efficient environment.
33kV underground cabling EPC market segment is driven by its compactness, low installation cost, and operation proximity across various industries such as oil & gas, health care, and electric power. The constant focus of developing nations on deployment of underground cables for reducing distribution losses will further augment market growth, claims the study.
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Considering the installation type, direct buried underground cabling market is presumed to register massive growth over the forecast period, owing to its ability to withstand extreme operational conditions. The product deployment is based on various specifications such as thread-fortified waterproof tape wrapping, shock absorbing gel coating, and heavy metallic-bands sheathing.
In terms of regional landscape, Europe underground cabling EPC market is estimated to amass over US $7,000 million by the year 2024. This growth is attributed to the commercial expansion and increasing investments for developments of industrial electric networks and utility base in the region.
Major player of the global underground cabling EPC market profiled in the study are ZTT, Kalpataru, APAR, MasTec, Anixter, Nexans, Polycab, KEC, Sumitomo, Skipper, Prysmian, Gupta Power, KEI, and Arteche among others.