The power transmission & distribution industry is in need of advanced transmission networks to carry high voltage current safely, ensuring a reliable uninterrupted power supply. High voltage transmission lines and power cables along with accessories help in transmitting huge amount of electric power generated usually over long distances. High voltage cables are shielded cables that are mainly used for power transmission at very high voltages, consisting of conductor, conductor shield, sheath, insulator, semi-conducting and metallic insulation shield among others. The high voltage cable system comprises high voltage cables such as cross-linked polyethylene (XLPE), mass impregnated (MI), bare conductors along with other accessories. Rise in the offshore wind farm activities, and different programs for grid interconnections which benefit high-voltage power transmission are the key factors driving the growth of high voltage cables and accessories market. Government organizations, private manufacturers & service vendors are focusing on integrating their existing technologies with high voltage power transmission systems to increase their capacity significantly, which in turn is fostering the market growth. However, opaque regulatory mechanism along with financial constraints are other factors restricting the growth of the market. Adoption of smart-grid technology along with many offshore wind power projects in emerging countries offer ample growth opportunities to the high voltage cables and accessories market.
The high voltage cables and accessories market is segmented based on type of usage, products, and region. On the basis of type of usage, the market is segmented into overhead, underground and submarine. On the basis of products, the market is segmented into overhead products, underground products and submarine products. On the basis of region, the market is segmented into Asia-Pacific, Europe, North America, Latin America and Middle East & Africa (LAMEA).
Key market players operating in high voltage cables and accessories market include ABB Ltd., Prysmian Group, Sumitomo Electric Industries, Ltd., Nexans, NKT Cables, General Cable Corporation, Encore Wire Corporation, Brugg Kabel AG, Finolex Cables Ltd and Kerite Co.
KEY BENEFITS FOR STAKEHOLDERS:
HIGH VOLTAGE CABLES AND ACCESSORIES MARKET KEY SEGMENTS: