Europe HVAC Cables Market size to exceed $600mn by 2026
Published Date: July 3, 2020 Authors: Ankit Gupta, Riya Gupta
Europe HVAC Cables Market size is expected to surpass USD 600 Million by 2026, as reported in the latest study by Global Market Insights, Inc.
Europe HVAC Cables industry is anticipated to witness growth on account of replacement of aging transmission infrastructure coupled with expansion of smart grid networks. Rising integration of intra-regional transmission network with an aim to cater to the growing electricity demand will fuel the business scenario. Furthermore, increasing fund allocation toward offshore wind farms across the region will drive the industry landscape.
Revamping and restructuring of traditional transmission grid infrastructure will propel the product demand
Overhead segment of Europe HVAC cables market is projected to witness an upsurge on account of growing customer inclination toward transformation and modernization of aging transmission networks. Advancement of power grid networks to incorporate smart technologies through integration of cutting-edge equipment will further stimulate the business outlook. Moreover, ongoing deployment of high voltage AC cables to fulfill the inter-regional electricity supply will augment the business potential.
Rising investments toward restructuring and building of T&D networks will propel the product deployment
Underground HVAC cables installation is projected to witness upsurge on account of consumer inclination toward reliable and safe power supply network. Effective short-distance power transmission, no sag losses and low utilization of conductor resources are the prominent features which will reinforce the product landscape. According to the European Commission, energy efficient transmission lines will lead to 16 TWh energy saving per year by 2020.
Browse key industry insights spread across 170 pages with 154 market data tables & 24 figures & charts from the report, “Europe HVAC Cables Market Statistics By Voltage (< 110 kV, 110 kV – 220 kV, 220 kV – 440 kV, > 440 kV), By Installation (Overhead, Submarine, Underground), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rapid growth across the large and heavy scale industries will positively influence the product deployment
110 kV to 220 kV voltage cables segment exceeded USD 200 million in 2019. In the recent years, transmission and distribution sector has witnessed substantial impetus on account of development of large & heavy scale industrial establishment. Furthermore, growing peak load demand along with integration of advanced transmission lines to reduce power outages and losses will fuel the Europe HVAC cables market scenario.
Ongoing technological advancements to cater to the power losses and improved product lifecycle will boost the industry outlook
Germany HVAC cables market will witness an upsurge on account of rising investments by public & private institution to expand renewable energy generation and to provide sustainable power supply across the region. Moreover, extreme weather conditions leading to power outages, blackouts, brownouts, grid in-efficiencies will positively influence the product demand. Ongoing technological advancements with an aim to enhance product life cycle and insulation capabilities which will positively influence the technology adoption.
Prominent players operating across the Europe HVAC cables market includes NKT, Nexans, Tratos, ABB, TF Kable, Prysmian Group, Hellenic Cables, Alfanar, Furukawa, LS Cable & System, Elsewedy and Taihan.
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