Global Electrical Conductors Market for Power Industry 2016-2020
About Electrical Conductor
An electrical conductor is any material that can conduct electricity. A metal wire is a common example of electrical conductor. Electrical conductors form an essential component in the power industry and is responsible for the T&D of electric power. Electrical conductors are used in power cables, transformers, and busbars.
Technavio’s analysts forecast the global electrical conductor market for power industry 2016-2020 to grow at a CAGR of 6.1% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global electrical conductor market for power industry 2016-2020. To calculate the market size, the report covers the present scenario and growth prospects of the global electrical conductor market for the power industry during 2016-2020.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electrical Conductor Market for Power Industry 2016-2020
Technavio recognizes the following companies as the key players in the global electrical conductor market for power industry: Apar Industries, CTC Global, General Cable, Nexans, and Sterlite Technologies.
Other prominent vendors in the market are: Grupo Cabelte, Lamifil, Diamond Power Infrastructure, Gupta Power, J-Power Systems, TELE-FONIKA Kable, Midal Cables, and 3M.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is rise in demand for high-temperature superconducting cables. A superconducting high power transmission and distribution cable is capable of transmitting and distributing about 5-10 times the electrical current than that carried by a conventional copper or aluminum cable, besides offering a significantly enhanced efficiency. A superconducting power cable system comprises hundreds of strands of superconducting wire 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 ranging from 60 to 765 kV in transmission and 5 to 46 kV in distribution.”
According to the report, one of the primary drivers in the market is increased demand for power generation. The power demand has increased significantly across the globe. Further, growth in population and global economy is expected to drive this trend in future as well. Also, according to the International Energy Agency (IEA), the world power demand is expected to increase from 19,004 TWh in 2011 to 34,454 TWh by 2035. The population rise and growing economic development would require substantial amount of power to sustain in the economy.
Further, the report states that one major challenge in the market is competitive market scenario. The global power cables market gives an opportunity to both large international vendors as well as many regional vendors to operate. Although major vendors such as General Cables, NKT, and ABB have created a brand recognition for their products globally, they still face stiff competition from regional vendors, especially those from China and India, which are the two largest markets for power cables regarding consumption as well as manufacturing. Some of the notable cable manufacturers from these two developing nations include Hanhe Cable Company, Hengtong Marine Cable System, and Zhongtian Technology Submarine Cable from China. International vendors are finding it difficult to compete with domestic manufacturers that offer cable wires at a lower cost. Therefore, price wars resulting from minimal product differentiation are expected. The main differentiation of goods in the market is in the different types of cables used for voltage ranges. However, many vendors are working to offer reliable high-voltage power cables at cheaper rates to stay ahead in the competition.
Apar Industries, CTC Global, General Cable, Nexans, Sterlite Technologies, Grupo Cabelte, Lamifil, Diamond Power Infrastructure, Gupta Power, J-Power Systems, TELE-FONIKA Kable, Midal Cables, 3M.
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