High Voltage Cables Market Growth To 2021: 6% CAGR Led By Underground High Voltage Cables Segment
Global high voltage cables market is soaring at a high rate to 2021 according to latest research report, Middle East & Africa is the fastest growing region in the global high voltage cables & accessories market led by underground high voltage cables segment
Pune , India – July 20, 2016 /MarketersMedia/ —
The global high voltage cables & accessories market is expected to reach a size of USD 41.27 billion by 2021, at a CAGR of 6.0% from 2016 to 2021. It has become imperative nowadays to connect power facilities across water bodies, as offshore oil and gas production installations look for shore-generated power, and offshore wind parks need to bring their green power generation to power grids onshore. The use of high voltage cables & accessories provide a smooth Transmission & Distribution (T&D) network. So, the growth of offshore wind farms is a major factor driving the high voltage cables &accessories market.
Complete report on global high voltage cables & accessories market spread across 174 pages, profiling 10 companies and supported with 121 tables and 55 figures is now available http://www.rnrmarketresearch.com/high-voltage-cables-accessories-market-by-type-of-use-overhead-underground-submarine-overhead-products-conductors-fittings-fixtures-underground-and-submarine-products-xlpe-cables-mi-cab-market-report.html .
The underground high voltage cables & accessories segment is expected to grow at the highest rate by 2021, owing to the adoption of underground transmission technology by several countries to reduce transmission losses and reduce outages by providing continuous power supply. Utilities and transmission companies are investing in their transmission systems and upgrading existing lines or installing new lines near the urban or suburban areas, where new rights of way and permission is not easy to procure. Thus, there is a global need to reinforce transmission system with underground transmission.
Middle East & Africa is the fastest growing region in the global high voltage cables & accessories market. This growth and increasing demand for high voltage cables & accessories is attributed by the investments in T&D, led by growing infrastructure developments, and emerging offshore wind energy generations activities, with a focus on generating electricity domestically. Also, it is trying to meet the demand by government investments in electricity infrastructure to cater to fast-growing economies and population.
Leading players of this industry have been profiled with their recent developments and other strategic activities. These include ABB Ltd. (Switzerland), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Nexans (France), NKT Cables (Germany), and General Cable Corporation (U.S.) among others. Get a discount on High Voltage Cables Market by Type of Use (Overhead, Underground, Submarine), Overhead Products (Conductors, Fittings & Fixtures), Underground & Submarine Products (XLPE Cables, MI Cables, Cable Joints & Terminations), and Region – Global Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=387075 .
In the process of determining and verifying, the global high voltage cables & accessories market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (60%), Tier 2 (27%) and Tier 3 (13%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (50%), Directors Level (30%) and others (20%) from various key organizations operating in the global high voltage cables & accessories market. The primary interviews were conducted worldwide covering regions such as North America (30%), Latin America (20%), Europe (20%), Asia-Pacific (20%) and Middle East & Africa (10%).
On a related note, another research on Medium Voltage Cables & Accessories Market Forecast to 2021 says, Utility sector to dominate the medium voltage cables & accessories market within the Industrial end-user during the forecast period. Wind sector within renewables end-user to hold the major share of the medium voltage cables & accessories market during the forecast period. The overall market is expected to reach a value of USD 51.24 billion by 2021, at a CAGR of 6.4% from 2016 to 2021. Companies like Prysmian S.p.A (Italy), General Cable Technologies Corporation (U.S.), Nexans (France), NKT Cables (Germany), and ABB Ltd. (Switzerland) have been profiled in this research report available at http://www.rnrmarketresearch.com/medium-voltage-cable-market-by-overhead-conductors-fittings-fixtures-others-by-underground-submarine-mi-cables-xi-cables-cable-terminations-cable-joints-others-by-end-user-infrastructure-renewables-industrial-and-by-region-gl-market-report.html .
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