HV Cables Market size to exceed $29bn by 2025
Published Date: June 10, 2019 Authors: Ankit Gupta, Abhigyan Tathagat
HV Cables Market size is expected to exceed USD 29 Billion by 2025, as reported in the latest study by Global Market Insights, Inc.
In the recent years, the power transmission industry has observed an upsurge owing to the rising demand for efficient T&D control systems. Growing refurbishment demand of existing electrical setup along with increasing investments towards transmission grid enhancement will stimulate the high voltage cables industry. Moreover, lack of effective electric infrastructure across the emerging nations coupled with inclination toward the advancement of prevailing infrastructure across developed economies have further infused a favorable business scenario.
Utility aided HV cables market surpassed an annual deployment of over 30’000 km in 2018. Incorporation of grid connected sustainable energy network along with decentralized micro-grid infrastructure leads to the demand for technically effective circuitry devices to bear the infusion of volatile frequency networks. Henceforth, developers and manufacturers across the industry have significantly been investing to instigate smart monitoring, performance and control units.
The U.S. has observed a positive technological prospect on account of the increased spending towards the enhancement of long-distance transmission infrastructure. The U.S. DOE, in 2017 allocated USD 10 billion to improve the existing electric network with an aim to reduce the curtailment rate across the western transmission infrastructure. Rising focus toward the re-establishment of conventional electrical devices with advanced high-quality products will further drive the HV cables market statistics.
Browse key industry insights spread across 239 pages with 305 market data tables & 29 figures & charts from the report, “High Voltage Cables Market Analysis By Voltage Class (50 kV – 110 kV, 115 kV – 330 kV, > 330 kV), Application (Utility, Industrial) Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
50 kV – 110 kV cables have gained significant impetus on account of large-scale commercial development and refurbishment of small-scale industries across emerging countries. In addition, suburban migration has further led to the integration of large multi-storey apartments and residential complexes which in turn will strengthen the product penetration. Increasing dependency on large-scale industries which include power generation and manufacturing facilities has further complement the HV cables market share.
Introduction of advanced overhead, underground and submarine cable technologies has integrated a sustainable business scenario. Suppliers & manufacturers have consistently been restructuring their R&D fund allocation to advance product portfolios in addition, fresh investments from leading participants to incorporate a versatile technological platform will augment the high voltage cables market trends. Moreover, positive consumer inclination toward the deployment of these units with an aim to secure the environment & overall life expectancy of the electric infrastructure will foster the industry outlook.
Prominent HV cables market players include ZTT, NKT, Elsewedy, Prysmian, Sumitomo, Nexans, LS Cables, Sterlite Power, Furukawa Electric, KEI, Taihan Electric, Gupta Power, APAR, ABB, KEC, Alfanar, Kelani Cables, Southwire and Riyadh Cables.
Organic and inorganic strategies including M&A, technological and business collaborations, product-based R&D investments have been the primal for industry players to sustain their industry portfolio.