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High Voltage Cables and Accessories Market: Analysis, Top Key Players, Drivers and Trends, Analysis by Forecast to 2027
High Voltage Cables and Accessories Market
The Global High Voltage Cables & Accessories Market has witnessed a remarkable growth in the past few years and it has been anticipated that the market will grow at the rapid pace during the forecast period. This growth is mainly attributed towards the growing offshore wind farms, high voltage direct current links, and grid interconnections. Increasing need for grid interconnections is resulting in rising investments in the new submarine and underground cables and accessories market. The upcoming projects for the overhead transmission lines would also boost the demand for high voltage cables and accessories systems.
The cable technology gained a significant advancement which has enabled the use of XLPE cables over the fluid-filled cable technology. XLPE provides insulation to cables to make it withstand the electric field under rated and transient operating conditions. The XLPE cable was the largest segment in the underground cable systems market in 2016. The market in Asia Pacific is the largest market for XLPE cables segment because of the investments in the transmission and distribution sector, increasing power generation, and growth in offshore wind farms. All these factors are expected to boost the XLPE cables segment in high voltage cables and accessories market. The high voltage cables and accessories market is segmented by installation into products specific for overhead, underground, and submarine cable systems. In the underground and submarine products, cable joints and terminations are the two major accessories needed to connect cable splices to another cable or terminal equipment. On the other hand, overhead high voltage cables use long conducting wires for power transmission, which are held tightly over high towers with the help of fittings and fixtures. Mass Impregnated (MI) cable is a cable that is extensively used in submarine for high voltage applications. The current carrying capacity of MI cables differentiate it from XLPE (cross-linked polyethylene) cables or other types of cables. MI cables are environment-friendly and contain no free oil. Thus, the electric field around the cable is zero even under the most stringent operational conditions because of the metallic sheath. The market of MI cables is projected to grow at the highest CAGR among all product segments under the underground high voltage cables and accessories market during the forecast period. As per the study conducted by Market Research Future, the global market for high voltage cables & accessories is likely to grow at the CAGR of around 6%.
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Key Players for High Voltage Cables & Accessories Market:
The key players in this market include NKT cables group (Germany), Nexans (France), Prysmian group (Italy), Finolex Cables Ltd (India), Siemens (Germany), ABB Group (Switzerland), Cable Corporation of India Ltd. (India), Brugg Kabel AG (Switzerland) and Synergy Cables Ltd. (Israel).
High Voltage Cables & Accessories Global Market - Competitive Analysis
The global market for high voltage cables & accessories seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Segments:
Global High Voltage Cables & Accessories has been segmented:
On the basis of type
• Overhead
• Underground
• Submarine
On the basis of product
Overhead products
• Conductors
• Fittings & Fixtures
Underground & Submarine products
• XLPE Cables
• MI Cables
• Cable Joints
• Cable Terminations
On the basis of region
• North America
• South America
• Europe
• Asia-Pacific
• Middle East & Africa
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future
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Pune - 411028
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