High Voltage Cables and Accessories Market Scenario
The vital factor promoting the global high voltage
cables and accessories market growth is the growing use of technology and
machine due to which, everything is dependent on electricity. Need for cables
that can endure high voltage, high resistances, and heat is also impacting the
market output. The ability of high voltage cables and accessories to supply
power above 500 kilovolts (kV), and ability to protect transmission &
distribution systems from mechanical wear out & moisture, can be taken into
consideration as well. The increasing number of oil rigs in the offshore
regions need a continuous power supply for smooth operations, which can be
facilitated by high voltage marine cables. A detailed analysis report of COVID-19
impact on High Voltage Cables and Accessories Market is provided with the
report.
High
voltage cables allow power transmission at longer distances without
considerable losses. Report on the global high voltage cables and accessories
market, published by Market Research Future (MRFR), counts gains for this
market at 6.27% CAGR between 2018 and 2023.
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Regional Segmentation
The regional segmentation of the global high voltage
cables and accessories market covers Asia Pacific, Europe, North America, and
Rest of the World (RoW).
Asia Pacific region can hold the largest market
share during the forecast period due to the growing power sector in growing
economies like China, India, and South Korea. In this region, various
developmental projects are taking place that creates a strong market. Such
projects involve the development of power generation, smart grids, and power
transmission & distribution infrastructure.
Due to technological advancement, North America is
another important regional market with USA and Canada, generating maximum
revenue. Some of the major market players are based in North America.
Europe is another major regional market due to
technological advancement and the presence of major market players. In this
region, the conspicuous country-specific markets are France, Germany, Italy,
and the UK. Other countries in Europe also contribute decent revenue to the
market.
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Key Players
Major players in the global high voltage cables and
accessories market include Brugg Kabel AG (Switzerland), Cable Corporation of
India Ltd. (India), Finolex Cables Ltd (India), General Electric (USA), Hitachi
Ltd. (Japan), Nexans S.A. (France), NKT Holdings A/S (Denmark), Prysmian Group
(Italy), RPG Cables (India), Siemens AG (Germany), and Synergy Cables Ltd.
(Israel).
Market
Segmentation
The global high voltage cables and accessories market segmentation covers
product and voltage rating. MRFR is analyzing the features of these segments to
understand market trends.
The product-based segmentation of this market covers overhead cables,
underground cables, and submarine cables. Overhead cables segment has been
sub-segmented into conductors, fittings & fixtures, and others. Underground
cables segment has been sub-segmented into cable joints, cable termination,
cross-linked polyethylene (XLPE) cables, mineral insulated (MI) cable, and
others.
Based on the voltage rating, the market has been segmented into up to 100
kV, 101 kV – 230 kV, 230 kV – 400 kV, and above 400 kV.
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