High Voltage Cables and Accessories Market Future Insights and Top Key Players: Siemens AG , Hitachi Ltd. , General Electric , NKT Holdings A/S , Nexans S.A.

High Voltage Cables and Accessories Market Highlights:-

With the increasing economic wealth, and high progress within technology and industries, a world without electrical power is unimaginable. Transmission of power holds the maximum significance in the value chain of power sector, owing to the fact that electricity, unlike other commodities, cannot be transported by modes of transport. One of the key concerns in the transmission of electricity is the interruption in the supply of power. High voltage cables allow transmission of power at longer distances without considerable losses. With advancements in power sector and the desire to gain high-quality supply of electricity, industries have come up with the highest voltage level of above 500 kV.

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High voltage cable and accessories market is expected to have a huge number of advancements over the forecast period due to continuous developments in end-use industries coupled. The market is also expected to have high expansion activities by multinationals and well-established companies.

The global high voltage cables and accessories market is expected to expand at ~6.27% CAGR during the forecast period.

Top Key Players:-
• Nexans S.A.
• Prysmian Group
• Finolex Cables Ltd
• Ariel Corporation
• Siemens AG
• Hitachi Ltd.
• General Electric
• NKT Holdings A/S

High Voltage Cables and Accessories Global Market – Segmentation

The high voltage cables and accessories market is segmented on the basis of type, products, voltage ratings, and region. Based on the segment by type, the market is further classified as overhead, underground, and submarine. Underground segment holds the largest market share due to the increasing urbanization projects and advantages of being less susceptible to damage and reduced danger. On the basis of products, the high voltage cables and accessories market is segmented as conductors, fittings & fixtures, XLPE cables, MI cables, cable joints, cable terminations and others. Among these, conductors dominate the overhead high voltage cables & accessories market, as they have high tensile strength to withstand mechanical stresses.

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Global Market Analysis:-

The global market for high voltage cables and accessories market is anticipated to grow at high rate owing to increased demand from the power sector. Asia Pacific is expected to have the largest market share due to growing power sector in emerging economies such as China, South Korea, and India. Moreover, the region has had an increment in the number of projects in terms of smart grids, power generation, industrialization, urbanization, and power transmission and distribution infrastructure. For an instance, South Korea, one of the fastest emerging nation, has plans for a completely integrated smart grid by 2030. Also, Hitachi, one of the leading players in transmission and distribution network provider, has contributed to create China’s transmission and distribution network through ultra-high voltage network and the gas insulated switchgear to prevent the damage caused to network due to load imbalance.

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