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Pulished Date April, 2021
ID: 10456
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High Voltage Cables Market Segmentation By Voltage (50 kV – 110 kV, 115 kV – 330 kV, > 330 kV), By Application (Utility, Industrial), and Region - Industry Forecast of 2021 to 2026

Pulished: April, 2021
ID: 10456
Pages: 175

High Voltage Cables Market size, share, growth Analysis:

The global high voltage cables market is predicted to grow from an estimated value of USD 30.48 billion in 2020 to USD 40.62 billion by 2025, with a CAGR of 6.97%, from 2020 to 2025. This expansion is attributed to the expansion of offshore wind farms, high voltage direct current links and network interconnections. The growing need for network interconnections is driving escalated investment in the market for new submarine and underground cables and accessories. Upcoming overhead transmission line projects would also stimulate call for high-voltage cables and accessory systems. These are wires/cables employed for high voltage power transmission. A cable includes insulation and a conductor and can be employed both underwater and underground. This is in contrast to an overhead cable, which has no insulation. High voltage (HV) cables of different types have a variety of applications in AC and DC ignition, instrument and transmission systems. High-voltage cables are made of electrically conductive materials capable of withstanding high resistances and the reducing resistance and loss in the form of heat. In addition, high-voltage accessories are excellent protectors of transmission and distribution systems against moisture, mechanical wear, as well as conductor connectors and ground connections. High voltage cables are employed to carry electrical energy in areas where there is no power generation service. In addition, high-voltage accessories ensure efficient and uninterrupted electrical T&D and provide long-lasting and reliable solutions for high-voltage current transmission.

High Voltage Cables Market Trends:

With growing economic wealth and significant advances in technology and industries, a world without electrical power is unimaginable. The transmission of electricity is of utmost importance in the value chain of the electricity sector, since electricity, unlike other commodities, cannot be transported by means of transport. One of the main concerns in the transmission of electricity is the interruption of the electricity supply. High voltage cables allow the transmission of energy over longer distances without considerable losses. With the advancement of the energy sector and the desire to achieve a high-quality power supply, industries have come up with the highest voltage level above 500 kV.

High Voltage Cables Market Recent Developments in Industry

Ebrahim Patel starts up the Aberdare Cables high voltage plant in Port Elizabeth. The Minister of Commerce and Industry inaugurated the Aberdare Cables high voltage cable industry.

Prysmian launches a powerful cable solution for broadcast networks. The Prysmian group is ready to launch a revolutionary new cable technology for the development of power transmission networks that will ensure higher electrical performance, lower costs and better environmental sustainability.

High Voltage Cables Market Drivers

Escalating industrialization with simultaneous urbanization in developing countries and a large number of ongoing renewable projects is the main driver of the worldwide market for high voltage cables. Escalating call for an efficient transportation system, offshore wind farms, consumer adoption of smart grid technology is driving call for high voltage cables and products in the transmission and distribution network. The growing number of oil rigs in offshore regions require point power for smooth operations, and high voltage offshore cables allow power to reach offshore oil production facilities.

Restraints:

Safety issues related to overhead cables and accessories are restricting the market for high voltage cables and accessories.

Opportunities:

Escalated government investment in smart grid technology and renewable projects creates a level playing field for the worldwide market. The main trend identified in the world market for high voltage cables is the expansion of the energy infrastructure, the coherent integration of energy efficient systems and projects of centralization and decentralization of networks. This is likely to provide traction in the market.

Challenges:

Complex project planning, delays in approval procedures and funding constraints are some of the factors hampering the expansion of the worldwide market for high voltage cables.

High Voltage Cables Market Segmentation:

By voltage class:

  • 50 kV – 110 kV
  • 115 kV – 330 kV
  • >330 kV

In recent years, cables from 50 kV to 110 kV have seen a big boost due to large-scale commercial expansion and modernization of small industries in developing countries. In addition, suburban migration has led to the development of residential complexes and large multi-story apartments that in turn will stimulate call for products.

By application:

  • Utility
  • Industrial

The utility-assisted market segment exceeded the annual installation of more than 30,000 km in 2020. The adoption of grid-connected renewable infrastructure in accordance with decentralized microgrid networks has generated a call for components. Technologically efficient circuits to support the integration of variable frequency networks.

High Voltage Cables Regional Analysis:
The High Voltage Cables Report includes the segmentation of Regions with their respective Countries.
North America 
Europe 
Asia Pacific
Latin America 
Middle East & Africa 

The worldwide market for high voltage cables and accessories is predicted to grow at a high rate due to escalated call from the electricity sector. Asia-Pacific is supposed to have the largest share due to the expansion of the energy sector in emerging economies such as China, South Korea and India. Also, the region has experienced an increase in the number of projects in terms of smart grids, power generation, industrialization, urbanization, and electricity transmission and distribution infrastructure. For example, South Korea, one of the fastest growing countries, has plans for a fully integrated smart grid by 2030. In addition, Hitachi, a leading provider of transmission and distribution networks, has helped create the network of China transportation and distribution through the ultra-high voltage network and gas-insulated switchgear to avoid damage to the network due to load imbalance. The Asia Pacific region is predicted to dominate the global high voltage cable market due to the expansion of industrial activities and the introduction of high-power machines in manufacturing companies. North America is predicted to show moderate expansion due to growing infrastructure in the locale.

Competitive Landscape:

The main strategies adopted by market players include the development of new products, contracts and agreements, expansions, and mergers and acquisitions. Contracts and agreements have been the main expansion strategy of the companies. This strategy has been an important revenue-generating tool for high-voltage cable companies, ensuring higher commercial profits between January 2020 and September 2025. Industry players have also adopted mergers and acquisitions and expansions as strategies to maintaining your market position and escalating your market share.

Key Players:

Some of the prominent players leading the global high voltage cable market comprise Encore Wire Corporation, Prysmian Group, NKT Cables, General Cable Corporation, Finolex Cables Ltd, Encore Wire Corporation, ABB Ltd., Nexans, Sumitomo Electric Industries, Ltd., Kerite and Brugg Kabel AG.

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 High Voltage Cables Market, By Voltage                      

                             6.1.1 50 kV – 110 kV      

                             6.1.2 115 kV – 330 kV    

                             6.1.3 > 330 kV  

                             6.1.4 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.5 Y-o-Y Growth Rate Analysis            

                             6.1.6 Market Attractiveness Index          

              6.2 High Voltage Cables Market, By Application               

                             6.2.1 Utility       

                             6.2.2 Industrial

                             6.2.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.4 Y-o-Y Growth Rate Analysis            

                             6.2.5 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Voltage             

                             7.2.3 By Application      

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Voltage             

                             7.3.3 By Application      

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Voltage             

                             7.4.3 By Application      

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Voltage             

                             7.5.3 By Application      

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Voltage             

                             7.6.3 By Application      

8. Key Player Analysis                                

              8.1 Encore Wire Corporation                   

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Prysmian Group                     

              8.3 NKT Cables               

              8.4 General Cable Corporation                

              8.5 Finolex Cables Ltd                 

              8.6 Encore Wire Corporation                   

              8.7 ABB Ltd                      

              8.8 Nexans                      

              8.9 Sumitomo Electric Industries, Ltd                   

              8.10 Brugg Kabel AG                    

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global High Voltage Cables Market By Region, From 2020-2025 ( USD Billion )
  2. Global High Voltage Cables Market By Voltage, From 2020-2025 ( USD Billion )
  3. Global 50 kV – 110 kV Market By Region, From 2020-2025 ( USD Billion )
  4. Global 115 kV – 330 kV Market By Region, From 2020-2025 ( USD Billion )
  5. Global > 330 kV Market By Region, From 2020-2025 ( USD Billion )
  6. Global High Voltage Cables Market By Application, From 2020-2025 ( USD Billion )
  7. Global Utility Market By Region, From 2020-2025 ( USD Billion )
  8. Global Industrial Market By Region, From 2020-2025 ( USD Billion )

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