What is High Voltage Power Cables Market?
A High voltage power cable is used for electric power transmission of Individual conductors that carry high voltage. High voltage power cable system is to prevent any contact between other objects or living beings with a high voltage conductor. Moreover, its leakage current must be aptly controlled and monitored. High voltage power cables are special in nature, working with specific switching and distribution panels. Sub-stations for high voltage power cable can lower the voltage in a bid to distribute it to local areas. HTS cables are expected to be one of the key technology in future.
Highlights from High Voltage Power Cables Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||KEI Industries (India), Prysmian Group (Italy), Nexans (France), General Cable (United States), Finolex Cables (India), Okonite (United States), Belden Incorporated (United States), Southwire (Georgia), Tratos group (United Kingdom), Havells (India), STL - Sterlite Technologies (India), Prysmian Group (Italy), V-Guard Industries (India), Hengtong (China) and Sumitomo Electric Industries (Japan)|
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. KEI Industries (India), Prysmian Group (Italy), Nexans (France), General Cable (United States), Finolex Cables (India), Okonite (United States), Belden Incorporated (United States), Southwire (Georgia), Tratos group (United Kingdom), Havells (India), STL - Sterlite Technologies (India), Prysmian Group (Italy), V-Guard Industries (India), Hengtong (China) and Sumitomo Electric Industries (Japan) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are TE Connectivity (Switzerland), TE Connectivity (Germany), Amphenol (United States) and Philatron Wire and Cable (Unites States).
High Voltage Power Cables Market Segmentation:
|Application / End User||Traveling Wave Tubes, High-voltage Routing and Others|
|Type||Alternating current (AC) and Direct current (DC)|
|KV||3.3 kV/33 KV,33 KV/230 KV,230/400kV,Others|
On the basis of geography, the market of High Voltage Power Cables has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
High Voltage Power Cables are Expected to be one of the key Technology in Future and High Voltage Cables is Growing in Energy Infrastructure, Coherent Integration of Energy Efficient Systems
Market Growth Drivers:
Increasing Demand for Electricity is Growing The Market, Gas-insulated Lines (GILs) are used for High-power and Long-distance Transmission and Increased Renewable Energy Integration and International Power Trades have led to the Construction
Product Quality Complying with the Local and International Standards
Flection in Supply Chain of Raw Material can hamper the growth
Increasing Development of new HVDC transmission systems and Growing Use of HVDC cables, Undersea Power Transmission and Offshore Renewable Energy Integration Having Lower Losses and Higher Reliability
Key Target Audience
High Voltage Power Cable Manufacture, High Voltage Power Cable Supplier, Government/Regulatory Bodies, Potential Investors, Government/Research and Development Institutes and Others
Market Leaders & Development Strategies
On 5th October 2021, Ontario's largest electric utility, Hydro One Ltd. is seeking acquisitions worth up to (USD397 million) to boost its customer base and consolidate the fragmented industry, a spokeswoman told Reuters. The government of Ontario, Canada's most populous province, is eager to bring down electricity costs for customers.
On 21st June 2021, Italian cable maker Prysmian was awarded a USD 900 million contract to supply high-voltage direct current cable systems for an underground transmission project along a railroad in the United States. The contract is part of the SOO Green HVDC Link, a 2,100-megawatt interregional transmission project to connect two of the largest energy markets in the United States, the Midwest Independent System Operator (MISO), serving the central part of the country, with the eastern PJM Interconnection.