Press release
High Voltage Cables and Accessories Market 2018 Global Market Players are NKT cables group, Nexans, Prysmian group, Finolex Cables, Siemens, ABB Group
High Voltage Cables and Accessories Market
The Global High Voltage Cables & Accessories Market has witnessed a remarkable growth in the past few years and it has been anticipated that the market will grow at the rapid pace during the forecast period. This growth is mainly attributed towards the growing offshore wind farms, high voltage direct current links, and grid interconnections. Increasing need for grid interconnections is resulting in rising investments in the new submarine and underground cables and accessories market. The upcoming projects for the overhead transmission lines would also boost the demand for high voltage cables and accessories systems. The global high voltage cables & accessories market is primarily driven by the growing demand from industries and energy distribution centres. Across the globe, industries are investing the development or updating the infrastructure to accommodate the power transmission requirements. As per the study conducted by Market Research Future, the global market for high voltage cables & accessories is likely to grow at the CAGR of around 6%.
Geographically, the global high voltage cables & accessories market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, Asia Pacific is projected to dominate the global high voltage cables and accessories market from 2017 to 2022, owing to smart grid investments, increase in power generation capacity, and investments in T&D infrastructure in the region. The manufacturers and service providers in Asia Pacific are focusing and creating huge prospects in this service industry. Governments, private producers and service providers, and cables and accessories manufacturers are continuously trying to integrate their existing technologies and develop new ones extensively to increase the capacity of high voltage transmission and reduce the impact of high voltage transmission near residential areas
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Key Players :
The key players in this market include NKT cables group (Germany), Nexans (France), Prysmian group (Italy), Finolex Cables Ltd (India), Siemens (Germany), ABB Group (Switzerland), Cable Corporation of India Ltd. (India), Brugg Kabel AG (Switzerland) and Synergy Cables Ltd. (Israel).
Competitive Analysis
The global market for high voltage cables & accessories seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Industry News
In November, 2017 – NKT cables group is testing unique power cables in a new wave power project in Norway. Armed with the innovative 1kV and 24 kV cables NKT is entering the market for wave power, which has the potential to play a significant role in the future of renewable energy.
In November, 2017 – Nexans opens the latest high voltage test laboratory at its Calais Center of Excellence, France. The new enlarged centre is now fully operational, with the capacity to test cable systems up to 1.5 million volts.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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