Power Transmission Cables Market Global Trend 2020, Gross Earning and Emerging Growth Opportunity 2028 | ABB, Siemens, Kalpataru Power Transmission Ltd., among others

Power Transmission Cables Market is estimated to reach USD XX billion by 2028

According to the predictions made in the latest report by Quince Market Insights, power transmission cables market growth is expected to gain high momentum during the forecast period due to increase in the number of power transmission towers. Due to the rapid industrialisation and urbanization around the world, the need for power supply is increasing. So, to meet the growing demand for power, a sustainable source of energy is needed.

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The power transmission cables are used to transmit and distribute power from power plants to end-users. When power is transmitted, high voltage is preferred to conserve energy. Hence, it is essential to have a sustainable supply of energy, which is provided by transmission cables. Sectors such as renewable energy resources have also influenced the growth of the power transmission cables market. However, due to technological advancements, the wireless transmission sector is experiencing growth, which can hamper the growth of the power transmission cables market.

Segment Analysis for better understanding of this market and its growth prospects
The market for power transmission cables was segmented based on installation, voltage, and end users. The installation segment is further simplified into overhead, underground, and submarine. The types of installations for submarine and underground power transmission witnessed an increase in their demand, as no energy is lost during the transmission process.

The market was segmented into high tension and medium tension based on voltage. High voltage transmission is preferred mostly because it helps avoid resistive losses, which in turn reduces operating costs.

The Asia Pacific region is leading the market due to emerging demand from India and China. The Middle East has also taken many initiatives such as The Oman and Kuwait Metro projects and has invested heavily in procuring power transmission cables.

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Significant Factors Impacting Market Growth:

o Increase in the number of power transmission towers
o Need for sustainable supply of electricity
o Volatile prices of metals such as copper and aluminum
o Growing investments in smart grid
Regional Outlook and potential areas for growth:
The regional outlook for power transmission cables market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. During the forecast period, North America and Western Europe are estimated to be key regions on the market for power transmission cables. The energy & power sector, being one of the industrialized regions, is important to the operations of various industries in this region. This is one of the key factors that govern the growth of the market for power transmission cables in those regions.

Some of the major countries covered in this region include the US, Germany, UK, France, Italy, and Canada.
The Asia Pacific is estimated as one of the fastest-growing regions for the power transmission cables market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater to high population & industries are expected to drive the demand in this region. During the forecast period, China and India are projected to record large demand. Also, the Middle East which includes the UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential. The rest of the world, including South America and Africa, are emerging market demand regions.

Companies Covered: ABB, Siemens, Kalpataru Power Transmission Ltd., Sumitomo Electric Industries Ltd., Southwire Company LLC, KEC International Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., Sterling & Wilson, and Arteche

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Market Segmentation:

By Installation:
Overhead
Underground
Submarine

By Voltage:
High
Medium

By End User:
Utility
Industrial

By Region:

North America
By Country (US, Canada, Mexico)
By Installation
By Voltage
By End User

Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Installation
By Voltage
By End User

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Installation
By Voltage
By End User

Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Installation
By Voltage
By End User

Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Installation
By Voltage
By End User

Rest of the World
By Region (South America, Africa)
By Installation
By Voltage
By End User

Customization:

We provide customization of the study to meet specific requirements:
By Segment
By Sub-segment
By Region/Country

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.