-- Global High Voltage Cables Market is accounted for $28.0 billion in 2016 and expected to grow at a CAGR of 8.0% to reach $48.1 billion by 2023. The market is driven by growth of offshore wind farms, projects for grid interconnections, rise in the use of renewable, and need for efficient transmission systems. On the other hand, delays faced in the implementation of power projects and regulatory environment & funding are inhibiting the market growth.
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Underground cables are growing significantly owing to their advantages like longer life and lower operating costs. Submarine cables are anticipated to witness the fastest growth during the forecast period, because of various applications in offshore power projects and oil & gas industry. With regards to the end user segment, industrial segment held the highest revenue share, owing to growing energy demand in industries such as oil & gas, mining, power utilities, and chemicals.
Infrastructure segment is expected to witness the highest CAGR during the forecast period due to increase in urbanization in developing countries. Asia Pacific held the largest market share, followed by Europe and North America due to its strong layout of transmission plans. For instance, government in china is investing in creating infrastructure for renewable energy sources.
Some of the key players in global High Voltage Cables market are Sumitomo Electric Industries, Ltd.,Encore Wire Corporation, Brugg Kabel AG, Siemens Ag, Tele-Fonika Kable S.A., Dubai Cable Company Pvt. Ltd, Kerite, General Cable Corporation, Finolex and Cable Corporation of India Ltd.
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Type of Currents Covered:
HVAC Cables
HVDC Cables
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Medium Voltage Cables Market
Global Medium Voltage Cables Market is expected to grow from $39.32 billion in 2016 to reach $64.12 billion by 2023 with a CAGR of 7.2%. Some of the driving factors like hasty growth in industrialization & urbanization, high production of renewable energy and rising government policies to expand the T&D systems are contributing for the market growth. However, less financial support and delay in intricate planning & authorization of projects are limiting the market. On the other hand, growing demand for power and wind policies in emerging countries is providing a significant opportunity for the market.
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On the basis of installation, underground segment is anticipated to lead the market across the globe due to continuous restoration of medium voltage cables & accessories. Moreover, by geography, Asia Pacific region is witnessed to grow at a faster rate due to rising renewable power generation in this region.
Installations Covered:
Overhead Cables & Accessories
Fittings & Fixtures
Conductors
Other Overhead Cables & Accessories
Submarine Cables & Accessories
Cable Terminations
XLPE Cables
Cable Joints
MI Cables
Others
Underground Cables & Accessories
XLPE Cables
MI Cables
Cable Terminations
Cable Joints
Others
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