High Voltage Cables & Accessories Global Market – Overview
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%.
Any voltage above 1,000 volts is defined as the high voltage. High voltage cables are used for electric power transmission at high voltage. This kind of cables are manufactured with the protective jacket, insulation and one or more conductors. High voltage cables can be used for underground & underwater applications, buildings and overhead lines to transmit electricity. The insulation of the high voltage cables does not deteriorate due to high voltage. For the insulation purpose or to control the electric field around the conductor, high voltage cables have additional layers. The cables with higher power distribution capacity are insulated with oil and paper. The insulation over the cable prevents the direct contact with persons and other objects as well. The length of the high voltage cable varies as per the application and requirement. For instance, high voltage cables of longer length are used in an industrial application and as well as at buildings and shorter cables are used in the apparatus. However, high voltage cables & accessories require specialized nature of work and conditions in overhead, underground and submarine conditions. XLPE (cross-linked polyethylene) cables are the most commonly used cables in underground systems. The cable technology gained a significant advancement which has enabled the use of XLPE cables over the fluid-filled cable technology. XLPE provides insulation to cables to make it withstand the electric field under rated and transient operating conditions. The XLPE cable was the largest segment in the underground cable systems market in 2016. The market in Asia Pacific is the largest market for XLPE cables segment because of the investments in the transmission and distribution sector, increasing power generation, and growth in offshore wind farms. All these factors are expected to boost the XLPE cables segment in high voltage cables and accessories market. The high voltage cables and accessories market is segmented by installation into products specific for overhead, underground, and submarine cable systems. In the underground and submarine products, cable joints and terminations are the two major accessories needed to connect cable splices to another cable or terminal equipment. On the other hand, overhead high voltage cables use long conducting wires for power transmission, which are held tightly over high towers with the help of fittings and fixtures. Mass Impregnated (MI) cable is a cable that is extensively used in submarine for high voltage applications. The current carrying capacity of MI cables differentiate it from XLPE (cross-linked polyethylene) cables or other types of cables. MI cables are environment-friendly and contain no free oil. Thus, the electric field around the cable is zero even under the most stringent operational conditions because of the metallic sheath. The market of MI cables is projected to grow at the highest CAGR among all product segments under the underground high voltage cables and accessories market during the forecast period.
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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). are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global High Voltage Cables & Accessories Market.
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.
In December, 2016 – KEI Industries Ltd, the manufacturer of power cables for retail and institutional segments, extended its technical collaboration agreement with Brugg Kabel AG, the Swiss manufacturer of extra high voltage (EHV) cables above 220 kV and up to 400kV, at its manufacturing plant located at Chopanki (Alwar, Rajasthan), India.
High Voltage Cables & Accessories Global Market – Segmentation
The scope of global high voltage cables & accessories market is segmented into two major segments which are explained below:
- By Type
- By Product
- Overhead products
- Fittings & Fixtures
- Underground & Submarine products
- XLPE Cables
- MI Cables
- Cable Joints
- Cable Terminations
- Overhead products
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High Voltage Cables & Accessories Global Market – 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.
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