Publishing: September 2021 | Report Code: PE10380 | Available Format: PDF
High Voltage Cables Market Overview
The major trend identified in the global high voltage cables market is the growth in energy infrastructure, coherent integration of energy efficient systems, and projects for centralization and decentralization of grids. This is likely to offer traction to the market.
A high-voltage cable (HV cable) is used for electric power transmission at high voltage. The cable includes a conductor and insulation, and is suitable for being run overhead, underground or underwater. This cable has a wide array of applications including in ignition systems, instruments, and for direct current (DC) and alternating current (AC) power transmission. In the report, the high voltage cables market is segmented on the basis of installation, product type, voltage, and region.
The high voltage cables market is classified on the basis of installation into overhead, underground, and submarine. Overhead HV cables are long conducting wires for power transmission that are held tightly over high towers with the help of fittings and fixtures. In the underground and submarine HV cables, cable joints and terminations are the two major accessories needed to connect cable splices to another cable or a terminal equipment.
On the basis of product type, the high voltage cables market is categorized into overhead products, underground products, and submarine products. The overhead products include conductors, fittings, and fixtures, and others. Furthermore, the underground and submarine products comprise cross-linked polyethylene (XLPE) cables, mineral insulated (MI) cables, cable joints, cable terminations, and others.
By voltage, the high voltage cables market is classified into seven categories: 72.5 kV, 123 kV, 145 kV, 170 kV, 245 kV, 400 kV and above 400 kV. These cables are employed in oil and gas, power (offshore and onshore projects), and telecommunication industries.
Based on region, the high voltage cables market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). Several developing countries have an old power transmission infrastructure that offers inefficient power supply and eases power theft. Countries across regions are in process to overhaul/upgrade grid infrastructure to provide continuous power supply, combat power thefts, and avoid power shortages. For instance, the U.S. and China are investing in infrastructure for renewable power generation. This in turn increases application of HV cables in integrating power generating sources (both, offshore and onshore projects) to centralized power grids, thereby demonstrating the demand for HV cables.
Additionally, projects for power generation in emerging economies are also multiplying every year. These countries are also in process of streamlining their grid infrastructure, therefore an efficient transmission network is required to connect generation plants and centralized management centers, which is likely to bolster the growth of the high voltage cables market.
High Voltage Cables Market Dynamics
Key factors supporting the growth of the high voltage cables market include the increased governments’ initiatives in smart grid technology and offshore power projects, worldwide. Several developing countries have conventional power transmission infrastructure that offers inefficient power supply and eases power theft. These factors are prompting utility providers to improve the existing power transmission infrastructure, which is expected to create the demand for HV cables. Since, projects for power generation through renewable energy sources are increasing every year, therefore efficient transmission network is required to connect generation plants and consumption centers, which is likely to bolster the growth of the market.
The factors identified as key restraints for growth of the high voltage cables market include delay in implementation of power projects, volatile price of raw materials, environmental and complex compliance procedures, and price trends. These factors negatively affect product demand in the market.
Upcoming renewable energy projects such as onshore and offshore solar farms and winds farms are likely to necessitate the demand for HV cables, and generate application avenues for HV cables. Additionally, these projects are likely to receive support and investment by private and governmental agencies for development and enhancement of the infrastructure to meet power transmission requirements.
High Voltage Cables – Competitive Landscape
Some of the major players operating in the global high voltage cables market are Prysmian S.p.A., Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Nexans Group, LS Cable & System Ltd., El Sewedy Electric Company, Jiangnan Group Limited, Kabelwerke Brugg AG Holding, Dubai Cable Company Pvt. Ltd., Baosheng High Voltage Cable Co. Ltd., TELE-FONIKA Kable S.A., Southwire Company LLC, NKT A/S, Tianjin Suli Cable Group, and General Cable Corporation.
The study provides the historical as well the forecast market size data for various countries including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws