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High voltage cables & accessories market set to grow according to forecasts

High voltage cables & accessories market set to grow according to forecasts

The High Voltage Cables & Accessories Market is expected to grow from an estimated value of USD 30.53 billion in 2017 to USD 40.90 billion by 2022, at a CAGR of 6.02%, from 2017 to 2022.

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The High Voltage Cables and Accessories Market include new product developments, contracts & agreements, expansions, and mergers & acquisitions this major strategy adopted by the key players and 

About: The Global High Voltage Cables & Accessories Market containing 235 Pages, 44 Figures and 215 table to deeply display the market analysis of global High Voltage Cables & Accessories market from 2017-2022. The latest and the newest trends of the High Voltage Cables & Accessories industry are included in this report.

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Moreover, overall global market size, the market size by product segment, growth rates of the global market along with and different product segments of the market, and various product segments with their value and volumes evaluation are also included in the research report.

The increasing focus on grid interconnections, growth of offshore wind farms, and need for efficient transmission systems have boosted the demand for the high voltage cables and accessories market. In addition, continuous increase in power generation capacity and adoption of smart grid technology would further aid the growth of this market.

Regulatory, environmental, and complex authorization procedures leading to delays and volatile prices of raw materials would act as a restraint for the growth of the high voltage cables and accessories market.

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Segment: The XLPE cable was the largest segment in the underground cable systems market in 2016. XLPE cables are most commonly used in underground systems.

The cable technologies gained a significant advancement and thus, are preferred over the fluid filled cable technology. Increase in power generation and the growth in the transmission sector account for the high market share of the XLPE cables segment in the underground high voltage cables and accessories market.

The 400 kV and above segment is expected to the fastest growing segment in the high voltage cables and accessories market, from 2017 to 2022. The liking of grids and transmission infrastructure between countries has also resulted in the 400 kV and above segment accounting for the largest market share.

These cables find application in transmission and distribution, grid interconnection, and other energy industries.

Middle East & Africa: This is the fastest growing region in the global high voltage cables and accessories market. This growth and increasing demand for high voltage cables and accessories is attributed by the investments in T&D, led by growing infrastructure developments and emerging wind energy generation activities, with a focus on generating electricity domestically.

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Breakdown of Primaries: In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:

By Company Type: Tier 1- 60%, Tier 2- 27%, Tier 3- 13%

By Designation: C-Level- 50%, Manager Level- 30%, Others- 20%

By Region:

Asia Pacific - 30%

Europe- 25%

North America - 23%

Middle East & Africa - 13%

Latin America - 9%

The major players in the high voltage cables and accessories market are Prysmian S.p.A. (Italy), Sumitomo Electric Industries, Ltd.

(Japan), Nexans S.A. (France), NKT Cables Group A/S (Denmark), and General Cable Corporation (US) among others.

Research Coverage: The report defines, describes, and forecasts the global high voltage cables and accessories market by installation, by product type, by voltage range, and by region. It also offers a detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.

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