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EHV AC and HVDC in XLPE Onshore Land Cables and Accessories Market Comprehensive Growth 2023-2030 With Top Key Vendor ABB, Prysmian Group, Nexans, NKT Group
EHV AC and HVDC in XLPE Onshore Land Cables and Accessories Market
Major Players in This Report Include: ABB, Prysmian Group, Nexans, NKT Group, Sumitomo Electric Industries, Ltd., General Cable Corporation, LS Cable & System Ltd., Furukawa Electric Co., Ltd., Southwire Company, LLC, Jiangnan Group Limited, Zhongtian Technology Group Co., Ltd., Siemens AG, J-Power Group
The global EHV AC and HVDC in XLPE Onshore Land Cables and Accessories Market size is projected to reach a CAGR of 5.7% from 2023-2030.
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One of the top companies in the sector, Nexans, declared in July 2021 that it had been given the go-ahead by TenneT, a significant European grid operator, to provide and install the high-voltage export cables for the DolWin5 offshore wind farm in Germany. About 45 kilometers of HVAC XLPE undersea cables will be supplied and installed by Nexans to link the wind farm to the onshore grid. The project's goal is to make it easier for renewable energy to be transported from the offshore wind farm to the mainland.
A significant player in the cable sector, Prysmian Group, revealed in June 2021 that it intended to make investments to increase the plant's capacity to produce HV cables in Pignataro, Italy. As part of the worldwide energy revolution, the investment seeks to address the rising demand for HV cables, including HVAC XLPE onshore land cables and submarine cables. New production lines and expanded manufacturing capabilities are part of the expansion project, which will enable Prysmian to meet changing market demands.
EHV AC and HVDC in XLPE Onshore Land Cables and Accessories Market is segmented into various segments such as technology, application, end-user, and region:
Based on Voltage
Low Voltage
Medium Voltage
High Voltage
Extra High Voltage
Ultra-high Voltage
Based on Type
Mass Impregnated
Cables Extruded Cables
Others (including Oil-filled Cables and Superconducting Cables)
Based on application
Power Transmission
Interconnecting Power Systems
Underground Power Distribution
Submarine Power Transmission
Grid Stabilization and Reactive Power Control
Based on the accessories type
Joints and Terminations
Cable Cleats and Clamps
Cable Connectors
Cable Insulation and Sheathing
Cable Testing and Diagnostic Equipment
Cable Pulling Equipment
Cable Monitoring Systems
Surge Arresters
Based on region
Asia Pacific
North America
Europe
South America
Middle East & Africa
Asia-Pacific to Dominate the Market
Asia-Pacific dominates the global EHV AC and HVDC in XLPE Onshore Land Cables and Accessories market and is anticipated to maintain its lead during the forecast period.
The growth is majorly attributed to the rapid growth in industrial and manufacturing facilities.
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The market for EHV AC and HVDC XLPE onshore land cables and accessories is driven by several factors. The increasing demand for electricity, the growing renewable energy sector, grid expansion projects, and the need for upgrading aging power infrastructure contribute to market growth. Governments and utility companies worldwide are investing in the development of efficient and reliable power transmission systems, which further stimulate the market.
The EHV AC and HVDC XLPE onshore land cables and accessories market is expected to witness substantial growth in the coming years. The need for efficient power transmission, increasing investments in renewable energy projects, and grid modernization initiatives are driving the demand for EHV AC and HVDC XLPE technologies. Advancements in XLPE insulation technology, such as enhanced thermal properties and higher voltage ratings, are also contributing to the market's growth.
EHV AC and HVDC XLPE gearbox system implementation demand a sizable initial expenditure. This covers the price of producing and installing XLPE cables as well as any related extras and support systems. For new market entrants, the significant initial capital expenditure may serve as a barrier to entry, and project developers may face financial difficulties.
The EHV AC and HVDC XLPE onshore land cables and accessories market holds significant potential for growth and transformation in the power transmission sector. With the increasing demand for efficient and reliable power transmission, coupled with the integration of renewable energy sources, XLPE technology has emerged as a preferred choice. Despite facing restraints such as high initial investment, regulatory challenges, technical complexities, and land constraints, the market is expected to expand steadily. Key players in the industry continue to innovate and invest in research and development to overcome these challenges and capitalize on the growing opportunities. As governments and energy companies worldwide focus on upgrading power infrastructure and expanding grid networks, the adoption of EHV AC and HVDC XLPE onshore land cables and accessories is set to play a crucial role in meeting the rising global energy demands while facilitating a transition towards sustainable and reliable power transmission systems.
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