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$29 Bn HV Cables - Global Market Forecast 2019-2025

Author : Rahul Sankrityayan | Published Date : 2019-08-13 

Ongoing commercialization to serve the global economic growth favored by FDI schemes to positively influence industrial and commercial establishments will boost the demand for reliable & complex grid infrastructure. Furthermore, rapid digitalization across the industrial peripherals has significantly infused a competitive industrial scenario owing to rising energy demand from data centers and communication base stations. Growing adoption of secure, energy efficient, advanced and reliable cables have further stimulated the HV cables market.

The power cable industry has majorly been regulated by various sets of guidelines and mandates, which have standardized the deployment and manufacturing trends globally. In the recent years, grid-isolated establishments have been the prime focus for installers and regulators as these pose immense potential for business growth and expansion. Moreover, the increasing energy demand favored by positive consumer shift to incorporate a sustainable electricity network will stimulate the high voltage cables market.

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Favorable mandates for electrification across grid-isolated establishments coupled with increase in population across cities has led to upsurge in energy consumption. The apparent rise in peak load demand has compelled the utilities to upgrade & upscale regional electric supply network to ensure grid reliability & security. Henceforth, increasing energy demand favored by rising demand for effective grid networks will escalate the HV cables market growth.

The influx of enhanced overhead, underground & submarine cable technologies has integrated a sustainable business scenario. Suppliers and manufacturers have consistently been streamlining their R&D fund allocation to develop product portfolios in addition, fresh investments from leading industry participants to adopt flexible technologies which will further augment the HV cables market. Moreover, favorable consumer inclination toward the deployment of HV units to secure the overall life expectancy and living environment of the electric infrastructure will thrust the industry outlook.

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In the recent years, Europe has observed positive consumer tendencies towards energy efficiency which has infused a favorable business outlook. Transmission and distribution retrofitting industry plays a vital role in increasing the energy demand across the region. Siemens, as per its survey stated that over 60% of electricity transmission lines across the region have been operational for around 25 years and need to be re-installed. Growing electricity demand will substantially impact the fund flow in Europe T&D refurbishment industry, which will further escalate the high voltage cables market growth.

Utility aided high voltage (HV) cables market, in 2018 exceeded an annual deployment of over 30'000 km. Integration of grid connected renewable energy infrastructure in line with decentralized micro-grid network has led to the demand for technically efficient circuitry components to endure the incorporation of fluctuating frequency networks. Henceforth, manufacturers across the region have substantially been allocating funds to instigate smart monitoring and control units.

Eminent high voltage (HV) cables market players include ZTT, Nexans, Furukawa Electric, LS Cables, Elsewedy, Prysmian, Sumitomo, NKT, APAR, Taihan Electric, Sterlite Power, Gupta Power, KEC, Riyadh Cables, KEC, Kelani cables, KEI, Alfanar, ABB and Southwire.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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