High Voltage Cables & Accessories Market Research Report by Type (Overhead, Underground, and Submarine), by Products (Conductors, Fittings & Fixtures, XLPE Cables, MI Cables, Cable Joints, Cable Terminations and Others) and Region - Forecast to 2027
pune, India - April 26, 2018 /MarketersMedia/ —
Market Overview:
The global high voltage cables & accessories market has observed a noteworthy growth in the past few years and it has been expected that the market will propagate at the rapid pace over the forecast period. This growth can be mainly attributed towards the growing high voltage direct current links, offshore wind farms and grid interconnections. Growing need for grid interconnections is ensuing in mounting investments in the new submarine cables and underground cables and accessories market. The future projects for the overhead transmission lines is also anticipated to boost the demand for high voltage cables and accessories systems. The global high voltage cables & accessories market is mainly propelled by the mounting demand from industries and energy distribution centres. Across the world, industries are capitalizing the expansion or updating the infrastructure to accommodate the power transmission requirements. 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%.
Any voltage above 1,000 volts is defined as the high voltage. High voltage cables are utilized for electric power transmission at high voltage. This kind of cables are manufactured with the insulation, protective jacket and one or more conductors. High voltage cables can be utilized for underground & underwater applications, overhead lines and buildings to transfer electricity. The insulation of the high voltage cables does not depreciate due to high voltage. For the insulation persistence or to regulate the electric field around the conductor, high voltage cables have supplementary layers. The cables with advanced power distribution capacity are shielded with oil and paper. The insulation over the cable averts the direct interaction with persons and other objects as well. The span of the high voltage cable varies as per the application and prerequisite. For instance, high voltage cables of lengthier length are used in an industrial application and as well as at constructions and shorter cables are used in the devices.
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But, high voltage cables & accessories require dedicated nature of work and conditions in overhead, underground and submarine circumstances. XLPE (cross-linked polyethylene) cables are the most frequently used cables in underground arrangements. The cable technology extended a significant advancement which has permitted their use of XLPE cables over the fluid-filled cable technology. XLPE offers protection to cables to make it resist the electric field under rated and transitory functioning circumstances. 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 owing to investments in the transmission and distribution sector, growth in offshore wind farms and increasing power generation. All these factors are anticipated to enhance 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 product segment, cable joints and terminations are the two vital accessories desired to link cable splices to another cable or terminal equipment.
On the other hand, overhead high voltage cables practise long conducting wires for power transmission, which are held firmly over high towers with the utilization of fittings and fixtures. Mass Impregnated (MI) cable is a cable which is broadly used in submarine application for high voltage applications. The current carrying capability of MI cables distinguish it from XLPE (cross-linked polyethylene) cables or other types of cables. MI cables are eco-friendly and comprise no free oil. Thus, the electric field around the cable is zero even under the most rigorous operational circumstances because of the metallic sheath. The market of MI cables is projected to develop at the highest CAGR among all product segments under the underground high voltage cables and accessories market over the forecast period.
Geographically, the global high voltage cables & accessories market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, Asia Pacific is projected to dominate the global high voltage cables and accessories market from 2017 to 2022, due to development of smart grid investments, upsurge in power generation capacity, and growing investments in T&D infrastructure in the region. The manufacturers & service providers in Asia Pacific region are highly focusing and creating huge forecasts in this service industry. Governments, private producers and service providers, and cables & accessories manufacturers are uninterruptedly striving to integrate their prevailing technologies and progress new ones comprehensively to upsurge the capacity of high voltage transmission and diminish the impact of high voltage transmission adjacent to residential areas.
Competitive Analysis:
The global market for high voltage cables & accessories seems to be moderately competitive. To preserve the market position and to propel the market growth, numerous dynamic and diversified multinational organizations, domestic organizations and as well as new entrants formulate a competitive landscape. Market leaders are continuously innovating and progressively looking for market expansion through several strategic mergers and acquisitions, innovation, product launch, increasing investments in research and development and economical product portfolio.
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) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global High Voltage Cables & Accessories Market.
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Industry News:
In November, 2017 – NKT cables group has recently testing unique power cables in a new wave power project in Norway. Armed with the state-of-the-art 1kV and 24 kV cables, NKT is entering the market for wave power, which has the prospective to play a noteworthy role in the future of non-conventional energy.
In November , 2017 – Nexans launches the latest high voltage test laboratory at its Calais Center of Excellence, in France. The new enlarged hub is now entirely functioning, with the capacity to test cable systems up to 1.5 million volts.
In December, 2016 – KEI Industries Ltd, the largest manufacturer of power cables for retail and institutional segments in India, extended its technical collaboration contract with Brugg Kabel AG, the Swiss manufacturer of extra high voltage (EHV) cables above 220 kV and up to 400kV, at its manufacturing plant located at Chopanki (Alwar, Rajasthan), India.
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Source: MarketersMedia
Release ID: 337098
