The cable employed for transmission of electric power at high voltage is called high voltage power cable. The Global high voltage power cable market was valued at US$33.225 billion in 2016 and is projected to expand at a CAGR of 7.17% over the forecast period to reach US$50.345 billion by 2022. High voltage power cables have insulators and conductors which can run underwater or underground. The high voltage power cables have a lower inductance than other cables owing to the reduced spacing between conductor and earth which enables cables to have a high charging current. These cables are used in buildings, apparatus, and industrial plant for power dissemination as well as submarine cables for power transmission.
The global market for high voltage power cable is driven by increasing need for efficient transmission systems coupled with government initiatives for implementing projects having grid interconnections. Moreover, the growing offshore wind farms and increasing inclination towards renewable energy resources further contributes to the market growth. On the contrary, factors like the requirement of various government approvals which causes a delay in power project implementation may restrain the market growth. Moreover, funding constraints and complex planning, as well as complex engineering, may negatively impact the market growth too.
Geographically, North America is expected to drive the global market for high voltage power cables on account of ongoing up-gradation of power infrastructure as well as the installation of new power grids in order to improve the power supply efficiency. The governments of various countries in Asia Pacific region is also expected to contribute to the market growth owing to rising focus on renewable sources of energy.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of High Voltage Power Cables. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, High Voltage Power Cables Market has been segmented on the basis of product type and geography as follows:
By Product Type
Europe Middle East and Africa
Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are NKT Cables, Sumitomo Electric Industries Ltd., Kerite, Prysmian Cables and Systems B.V., Nexans, and Encore wire Corporation.