High voltage cables market, in essence, is driven by the need to have an established infrastructural system. With its increasing use in water resources and other renewable energy industries, the demand for high voltage cables is gradually increasing with the rising need for systematic, economic, and safer mode of power transmission. Many companies today from developed and developing nations are venturing into the production of these cables realizing the fast-paced growth in high voltage cables market.
High voltage cables market is projected to exceed USD 29 billion by 2025, claims the latest research report compiled by Global Market Insights, Inc. High voltage cables market is poised to attain substantial growth owing to the rising demand for transmission and distribution efficiency. The ongoing renovations in the electrical setup of industries and the need to develop a stronger electrical infrastructure in cities, is propelling the demand for high voltage cables.
High voltage cables are increasingly used across the industrial and utility sectors. The high demand for HV cables can be credited to a plethora of properties such as anti-corrosion, waterproof, electrical insulation, and easy implementation. These features offer greater mechanical toughness compared to PVC.
Browse key industry insights spread across 239 pages with 305 market data tables & 29 figures & charts from the report, “Global High Voltage Cables Market Size By Voltage Class (50 kV – 110 kV, 115 kV – 330 kV, > 330 kV), By Application (Utility, Industrial) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, UK, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Egypt, South Africa) Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
The United States is one of the most lucrative regional grounds for high voltage cables market; indeed, the U.S. utility sector is a leading consumer of HV cables. The leading demand drivers in the region are favorable regulatory outlook for the expansion of utility sector, increasing use of renewable energy, and technological enhancements in grid infrastructure. For instance, 4,178 billion kilowatt-hours of electricity was generated in the United States in the year 2018, which positively impacted the regional demand for high voltage cables.
Many players in the utility sector are adapting to the changing requirements of the customers, such as by developing apps to give consumers control over their energy usage, monitor their electricity bills or receive outage alerts. These changes are adding a positive impetus to market growth. With the growing need for inexpensive energy, many providers are setting up newer electrical channels thus pushing the high voltage cables market size.
The refurbishment of the electrical infrastructure, requiring companies to resort to underground or overhead cable technologies is promoting high voltage cables market. In disaster prone APAC regions, often hit by cyclones or earthquakes, the government is resorting to underground cable channels. Along similar lines, in 2017, the Tamil Nadu Generation and Distribution Corporation made significant investment on underground cabling.
The benefit of underground cabling is that electric cables are buried deep inside therefore unaffected by calamities. The shifting of traditional wiring of electricity in cities to an underground mechanism will encourage the rapid adoption of high voltage cables.
Also, with underground high voltage cables there is a lower risk of electrocution, decreased voltage drops, reduced chances of power theft, and an aesthetical appeal. These advantages boost the need for high voltage cables.
Prominent high voltage 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.
Chapter 4 High Voltage Cables Market, By Voltage
4.1 Global high voltage cables market share by voltage, 2018 & 2025
4.2 50 kV – 110 kV
4.2.1 Global market from 50 kV – 110 kV, 2014 - 2025
4.2.2 Global market from 50 kV – 110 kV, by region, 2014 - 2025
4.3 115 kV – 330 kV
4.3.1 Global market from 115 kV – 330 kV, 2014 - 2025
4.3.2 Global market from 115 kV – 330 kV, by region, 2014 - 2025
4.4 > 330 kV
4.4.1 Global market from > 330 kV, 2014 - 2025
4.4.2 Global market from > 330 kV, by region, 2014 - 2025
Chapter 5 High Voltage Cables Market, By Application
5.1 Global high voltage cables market share by application, 2018 & 2025
5.2 Utility
5.2.1 Global market from utility, 2014 - 2025
5.2.2 Global market from utility, by region, 2014 - 2025
5.3 Industrial
5.3.1 Global market from industrial, 2014 - 2025
5.3.2 Global market from industrial, by region, 2014 - 2025
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