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Global High Voltage Cables and Accessories Market Projected to Witness a Single-Digit CAGR by 2021
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High voltage and accessories are combined together in order to transport electricity at long distances. The cables and accessories undergo relevant type of tests according to national as well as international standards, such as duration tests in order to prove completely functional cables or for the detection of faulty ones.
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The medium voltage cables generally operate in the range of 10 to 33 kV and those above 50 kV are the high voltage cables. Short high voltage cables are used in devices, while longer cables are used in buildings, as underground cables in industrial plants and for power distribution. Further, very long cables are used in applications such as submarine for underwater power transmission. High voltage cables are used in variety of applications such as in instruments, AC and DC power transmission and ignition systems. All these applications require highly insulated cable which must not deteriorate because of high voltage stress. The cables should prevent the contact of high voltage conductor with objects or persons, and must control the electric current leakage. Power transmission is considered as a critical area of investment in all key regions, worldwide. The power industry is in need for advanced transmission networks for power transmission in order to have good connections between the mainland stations and shores. Globally, it is expected that millions of circuit kilometers of new transmission lines are to be added in the near future. There are many advantages of using high voltage cables and accessories for power transmission which includes reduced line current for particular amount of power, better efficiency, and improved voltage regulation.
There are various factors which are considered as the major drivers for the growth of high voltage and accessories market. Most of the national transmission networks worldwide are old and have become less effective and efficient. Therefore, the growing demand for advanced technologies for reducing power cut and increasing efficiency of power transmission are boosting the need for high quality cables as well as accessories. Governments, private manufacturers & service providers, are significantly integrating their existing technologies with high voltage transmission systems in order to increase the capacity. Other factors include the growth of offshore wind farm activities, grid interconnections and high voltage transmission links which in turn are aiding the growth of high voltage cables and accessories market.
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The leading players of high voltage and accessories market include, Prysmian Group, ABB Ltd., Sumitomo Electric Industries, Ltd., NKT Cables, Nexans, General Cable Corporation, Brugg Kabel AG, Encore Wire Corporation, The Kerite Company, General Cable Corporation and Finolex Cables Ltd. (India).
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