Comprehensive Study on Underground Cabling EPC Market 2024 by Global Players MasTec, Sumitomo Electric, Polycab, Anixter, Arteche, Nexans, Prysmian Group
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In the current industry scenario, underground cabling EPC market has been mainly influenced by various regulatory mandates and guidelines, which have standardized the installation and manufacturing trend. Suburban areas over the years have become the focal point for regulators and installers as these pose a likelihood for revamping & refurbishment of existing grid network. As per the recent report by Europacable, fund allocation worth USD 170 billion has been announced to build and refurbish 40,000 km EHV submarine and underground cables across the region by 2030. Underground Cabling EPC Market will exceed USD 19 Billion by 2024.
Europe market is anticipated to surpass USD 7 billion by 2024. The regional cabling industry is predicted to witness substantial growth on account of rapid commercialization and increasing fund flow across the industrial developments and utility-based electric infrastructure. Shifting trend pertaining to the replacement of overhead cables with aerial bunched lines and underground networks will further complement the business outlook.
Rapid growth of transmission and distribution networks across commercial and residential establishments have complemented the single core underground cables. Aesthetic proximity in line with flexible product configurations are the key features influencing the product demand. Moreover, ameliorating energy demand favoured by positive customer inclination to integrate a sustainable electricity infrastructure will stimulate the underground cabling EPC market.
Screened units across the underground cabling EPC market have gained an upsurge in line with increasing focus towards safety from fire, health, electrical supply faults, and other electric hazards. Dearth of effective electric grid infrastructure across emerging nations coupled with the expansion & upgradation of existing networks across developed regions has infused a competitive industrial scenario. Furthermore, enhancing product portfolios in line with mergers & acquisitions undertaken by the leading industry players act as a key strategic progression.
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Eminent participants across the underground cabling EPC market comprise of
• ZTT INTERNATIONAL
• Prysmian Group
• Sumitomo Electric
• Gupta Power Infrastructure Limited
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