According to a research report "High Voltage Cables and Accessories Market by Product Type (Cables (XLPE, EPR, HEPR, MI), Accessories (Joints, Termination, Fittings & Fixtures), Conductor Type (Aluminum, Copper), Installation, Voltage, End User & Region - Global Forecast to 2028" published by MarketsandMarkets, the high voltage cables and accessories market is projected to reach USD 52.5 billion by 2028 from an estimated USD 40.0 billion in 2023, at a CAGR of 5.6% during the forecast period.
High voltage cables and accessories are essential as they facilitate the efficient and reliable transfer of electricity from power plants to power utilities, renewables and industries over long distances. It offer insulation and protection to prevent electrical leakage and reduce power losses. Accessories are essential components utilized to establish secure connections and maintain the seamless flow of power, ensuring the integrity of the system.
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The power utilities, by end user, is expected to grow be the largest segment during the forecast period.
Based on end user, the high voltage cables and accessories market has been split into power utilities, renewables, and indusrials. The power utilities segment is anticipated to be the largest during the forecast period. Power utilities industry is growing in high voltage cables and accessories market because of rising demand for electricity due to industrialization, urbanization, population growth etc. It is also growing due to factors like renewable energy integration, grid modernization, infrastructure expansion, and advancements in cable technology.
The underground segment, by installation, is expected to grow at the second-highest CAGR during the forecast period.
This report segments the high voltage cables and accessories market based on installation into three segments: overhead, underground, and submarine. The underground segment is expected to be the second-fastest growing segment during the forecast period. Underground installation is essential as it offers enhanced reliability as they are less susceptible to weather-related disruptions leading to fewer power outages and a more dependable electrical supply. Underground cables provide flexibility for future expansion and urban planning, allowing for easier integration with new infrastructure projects and accommodating growing power demands.
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Asia Pacific is expected to be the largest region in the high voltage cables and accessories market
Asia Pacific is expected to be the largest high voltage cables and accessories market during the forecast period. Industries in Asia Pacific is constantly evolving, with new developments and emerging trends emerging. Some key trends such as the growth in the energy consumption of the region, coupled with development of infrastructure and energy projects drive the market for high voltage cables and accessories with the rising need for effective power transmission and distribution.
Some of the major players in the high voltage cables and accessories market are Prysmian Group (Italy), Sumitomo Electric Industries Ltd. (Japan), Nexans (France), LS Cable & System Ltd. (Korea), and NKT A/S (Denmark). The major strategies adopted by these players include sales contract, acquisitions, product launches, agreements, partnerships, and expansions.
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3rd October, 2018 - High Voltage Cables & Accessories Market is segmented on the basis of type, product, end users, and region.
A cable includes a conductor and insulation, and is suitable for being run underground or underwater.
Frequently a high voltage cable will have a metallic shield layer over the insulation, connected to the ground and designed to level the dielectric stress on the insulation layer.
High voltage cables may consist of any length, with relatively shorter cables used in apparatus, longer cables do run within buildings or as buried ones in an industrial plant or to distribute power, and the longest cables often run as submarine cables under ocean for power transmission.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/high-voltage-cables-and-accessories-market/request-sampleIncreasing growth of offshore wind farms, and projects for grid interconnections benefit the high voltage cable market.
Whereas, complex planning and approval procedures delay projects, regulatory environment & funding constraints are the restraining factors of overall market.
The underground cables & accessories market is driven by the need for greater power to be supplied to urban areas, along with a rising resistance to overhead transmission lines near residential areas.
High Voltage Cables Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the high voltage cables market include TELE-FONIKA Kable S.A., Prysmian group, Dubai Cable Company Pvt.
Ltd., NKT Cables, Nexans, Southwire Company, LLC, Sumitomo Electric Industries, Ltd., Siemens AG, TBEA Co. Ltd., HITACHI, LTD.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global High Voltage Cables Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/high-voltage-cables-market/download-sampleMarket DynamicsAs the development around the world increases, the demand for HVCs is also increasing because electricity is an important part of all the development projects.
Almost all the major countries are focusing on developing more nuclear power projects, and that has become a source of more demand for long-distance and marine high voltage cables.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
