The power transmission system uses high voltage cable for transmission of electricity. The high voltage power cable may be used underground, underwater, overhead and in buildings. It has varied application apart from power transmission such as its usage in ignition systems and in instruments.
The high voltage cable is made up of high quality insulation which can withstand the high voltage stress. High voltage cables are used in different industries such as telecommunication, power transmission, Buildings and construction, and vehicle. Based on the industry requirement, cables are available in varied sizes and shapes. They have a low inductance in comparison with other cables which serves as a reason for having high charge current.
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The electrification of the nation and technological advancement in the power sector paves way for increase in global market. There is a huge need for efficient transmission system which can transmit high voltage efficiently with minimum loss.
The government initiatives play a huge role as most of the projects are government initiatives. At the same time, the slow functioning of the government may deter the growth due to undue delay in getting the approval, funding or the implementation. Also with age, the grid system loses its efficiency and will require up gradation to meet up the increasing demand and avoid power shortage.
The trend is shifting towards renewable energy and this creates huge investment in the infrastructure. This increases the global high voltage cable market. The availability of raw material is also another factor which impacts the growth of the market.
The global high voltage cable market is segmented in to underground, overhead and submarine based on the usage of the product. Also segmenting by the products, the overhead product can be segmented by fixtures, fitting and conductors; and it is divided in to XLPE cables, MI cables, cable terminations and cable joint in the underground and submarine segment.
The North American grid system has aged, and it requires infrastructural up-gradation to be able to function efficiently by able to transmit required power without breakage. Also countries like U.S and China are moving to renewable energy, and this requires huge investment in the infrastructure, thereby creating demand for the high voltage cables and increase their market.
Also most of the countries are moving towards cleaner energy sources or infrastructural advancement. India, being a developing nation is seen investing huge sum in grid line advancement, and the demand for high voltage cable are expected to grow at a good rate. Also economies such as UK, Germany, Brazil and Egypt are expected to see growth in high voltage cable market. The whole of Asia-Pacific will take the maximum market share of the high voltage cable market.
The key players in high voltage cable markets are Finolex Cables, International Wire Group,Southwire, Okonite, Nexans, Belden, General Cable, Prysmian, Okonite, KEI Industries and Sumitomo Electric Industries.
Report Contents Regional Analysis Report Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
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