About the Cable Accessories Market
Cable accessories form an integral part of power cable systems; these are essential components in the power cables used in the transmission and distribution of electricity, from the point of generation to the point of consumption. Depending on the operating voltage level, power cables can be categorized as low voltage (below 1 kV), medium voltage (1 kV to 33 kV), and high voltage (above 33 kV). The cable accessories also vary in terms of technical specifications based on voltage level application.
Technavio’s analysts forecast the global cable accessories market to grow at a CAGR of 7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global cable accessories market for 2016-2020. To estimate the market size for cable accessories, we have taken into consideration the demand for the same from the primary end-user segment in the global cable accessories market, i.e. the power utilities sector. The demand for cable accessories, including cable terminations, connector systems, and jointing kits, across all geographies is also included in the market size calculation
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cable Accessories Market 2016-2020
Technavio recognizes the following companies as the key players in the global cable accessories market: ABB, Nexans, NKT Cables, and Prysmian.
Other Prominent Vendors in the market are: 3M, AFL, Birkett, Brugg, Cable Accessories India, Cembre, CMP, Denso, Ducab, Elastimold, Ellis Patents, Elsewedy Electric, Ensto, G&W Electric, General Cable, Hawke, Kabelwerk Eupen, Pfisterer, Raychem RPG, Southwire Company, Suedkabel, Taihan, TE Connectivity, Venelec Electromech Industries, and Yamuna Cable Accessories.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is having a major impact on the market is the development of smart grids. Smart grids bring a convergence of analog or digital information and computer-based remote control and automation to electricity networks. Smart grid systems are being increasingly used in many countries. A smart grid refers to a power grid that delivers an economical, sustainable, and secure electricity supply by intelligently integrating the actions of all users, whether they are consumers, generators or those capable of both in an efficient manner. Smart grid systems make use of automated software, and electronic hardware, namely switches, meters, and relays that assure smooth and appropriate transmission and distribution of electricity by upgrading and controlling operational processes over a network.”
According to the report, a key growth driver is the rise in demand for high-temperature superconducting cables. A superconducting power cable system comprises hundreds of strands of superconducting wire that is wound around a copper core. A cryogenic coolant, which is usually liquid nitrogen refrigerant, operating at 77°K is used to maintain ideal operating conditions. These cables transmit and distribute electricity at voltage levels of 60-765 kV in transmission and 5-46 kV in distribution.
Further, the report states that one challenge that could restrict market growth is the problems associated with cable terminations and connector systems for oil drilling industry.
ABB, Nexans, NKT Cables, Prysmian, 3M, AFL, Birkett, Brugg, Cable Accessories India, Cembre, CMP, Denso, Ducab, Elastimold, Ellis Patents, Elsewedy Electric, Ensto, G&W Electric, General Cable, Hawke, Kabelwerk Eupen, Pfisterer, Raychem RPG, Southwire Company, Suedkabel, Taihan, TE Connectivity, Venelec Electromech Industries, Yamuna Cable Accessories.
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