-- Asia Pacific electrical conduit market will witness significant upsurge subject to the increasing demand for electricity from emerging regions. India and other developing nations are considered as convenient areas as they continue to improve the existing power networks to meet the steady power demand. In 2016, renewable energy attracted investments worth USD 241.6 billion globally with a total of 138.5 GW capacity addition, out of which 47% were in Asia Pacific countries.
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Rising electricity demand from various industries including the shipbuilding industry coupled with large-scale manufacturing plants have incorporated a favourable business potential. Precision work integrated across the large-scale industries together with enhancing product specifications will complement the overall conduit market share. In addition, increasing aesthetic proximity along with the rising flexible wire and cable management systems demand will further boost the industry dynamics.
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 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.
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.
Electrical Conduit Market in 2017 surpassed USD 5 billion and is projected to grow by 8% by 2024. Increasing standards to curb health, electrical supply faults, fire, and other operational hazards along with positive regulatory schemes towards upgradation of standard product configurations will drive the electrical conduit market. Growing research and development fund flow from leading players to enhance and develop the product portfolio with targets to integrate a versatile technological platform which will act as a breakthrough.
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.
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Increasing prominence on the incorporation of diversified frequency distribution networks coupled with rising concerns for operational energy-efficient environment will augment the global industrial electrical conduit market share. Rising ultra-high voltage networks demand coupled with increasing fund allocation by private and administrative organizations along with the ongoing electrification programs across developing economies will further enhance the industry growth. Prominent electrical conduit industry players comprise of Aliaxis, ABB, Astral, Atkore, ANAMET, Champion Fiberglass, Cantex, Hubbell, Schneider, Legrand, Hellermann Tyton, Mexichem, Wienerberger, Electri-Flex, and Zekelman.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. High Voltage Cables Industry Insights
Chapter 4. High Voltage Cables Market, By Voltage
Chapter 5. High Voltage Cables Market, By Application
Chapter 6. High Voltage Cables Market, By Region
Chapter 7. Company Profiles
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Related Report: -
Global High Voltage Cables and Accessories Market Insights, Forecast to 2025
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis. High voltage cables are shielded cables that are mainly used for power transmission at high voltage. They are made up of conductor, conductor shield, insulator, semi-conducting insulation shield, metallic insulation shield, and sheath. High voltage cables generally operate in the range of 60 -500 kV.
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