Global High Voltage Cables Market –by type ((overhead, underground, submarine) –by end user (industrial, renewable energy, infrastructure)-By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) – is expected to reach US $ 50.30 Bn by 2026, at a CAGR of 6.59 %.
High voltage power cables have insulators and conductors which can run subsurface or underground. The high voltage power cables contains lower inductance than other cables owing to the condensed spacing between conductor and earth which permits cables to have a high charging current. These cables are used in array of applications such as buildings, apparatus, and industrial plant for power distribution as well as submarine.
High voltage cable is castoff for transmission of electric power which varies from 1,000 volts. High voltage cables that allocate high power are covered with paper and oil, owing to which direct contact of the cable with a person or other material can be evaded. The length of high voltage cables is not fixed, as it absolutely depends on the submission and specific electrical parameters. High voltage cable quality depends on the type of material used for
lagging and semiconducting layers.
Increasing the demand of high voltage cable owing to rising industrialization, quick urbanization, up gradation of outmoded power grids, and surge in number of power plants for renewable energy resource conversion are driving the growth in the Global high voltage cables market. Enlarged demand for the efficient transmission system, offshore wind farms, implementation of smart grid technology by consumers is fueling the demand for the high voltage cables.
Underground cable segment is estimate to hold large growth in the Global high voltage cables market.
Underground cable segment is estimate to hold large growth in the Global high voltage cables market. Underground cables are more favoured among alternative products owing to their extensive application in various industries such as power utilities, oil & gas, and mining. Furthermore, submarine cables are expected to grow significantly during the forecast period. The growth of these cables is accredited to the, new initiate places in ocean for oil and gas excavation, and formation of new tidal power plants. The high voltage cable used in offshore power projects and oil & gas industry and it offers various reasonable recompenses over other cables such as presence of extra shield, armour, and protection & bedding.
Increasing investments in renewable energy sector in the Global high voltage cables market.
Rising Industrialization with simultaneous suburbanisation in developing economies and a large number of enduring renewable projects is the major driver of the global high voltage cable market. Enlarged government investments in smart grid technology and renewable projects are generating equal opportunities for the global high voltage cable market. On the other side convoluted project planning, delay in endorsement procedures, funding contractions are some factors hindering the growth of the global high voltage cable market.
Asia-Pacific is expected to dominate the growth in Global high voltage cables market.
Asia-Pacific is expected to dominate the growth in Global high voltage cables market, followed by Europe and North America. China is sharing the market nearly about 60% revenue share of the overall Asia-Pacific region in the Global high voltage cables market owing to its strong layout of transmission plans.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of some of the leading manufacturers such as Some of the major key players in the Global high voltage cables market Encore Wire Corporation, Brugg Kabel AG, Sumitomo Electric Industries, Ltd., Siemens Ag, Tele-Fonika Kable S.A., Dubai Cable Company Pvt. Ltd, Kerite, General Cable Corporation, Finolex, Cable Corporation of India Ltd, prysmian SpA , Nexans, NKT Cables, Brugg Cables, Leoni, Southwire and TPC Wires & Cable Corporation.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Global high voltage cables market.Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global high voltage cables market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global high voltage cables market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global high voltage cables market”.
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