About Power Cable
A power cable is primarily an assembly of one or more electrical conductors, usually held together by an overall sheath. Power cables are used for transmission and, in some cases, distribution of large quantities of electrical power. Power cables have three basic components, namely, conductor, insulation, and protective covering or sheath. Other than the three basic components, the cable can also consist of bedding and beading/armoring depending on its architecture.
Technavio’s analysts forecast the power cables market in China to grow at a CAGR of 6.10% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the power cables market in China for 2016-2020. The market size has been estimated on both the demand side as well as supply side. For calculation purposes, 1 circuit kilometer = 0.5 kilometers have been considered.
The market is divided into the following segments based on products:
Technavio Announces the Publication of its Research Report – Power Cables Market in China 2016-2020
Technavio recognizes the following companies as the key players in the power cables market in China: Far East Cable Company, Jiangnan, Nexans, Prysmian, and Shandong Wanda Cable.
Other Prominent Vendors in the market are: Anhui Hualing Cable, Baosheng, General Cable, Havells, Henan Huadong Cable, Henan Jinshui Cable, Henan Tano, Jiangsu Shangshang Cable, Jiangyang Cable, Luoyang Da Yuan Cable Factory, Shanghai Shenghua Cable, Suli, TBEA Shandong Luneng Taishan Cable, Wanma Cable, and Zhengzhou Yifang Cable.
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends for market growth will be development of renewable cable protection systems. Vendors are developing renewable cables protection systems, which enhance the durability of cables and thus, ensures longer life. One such innovation is Njordguard, a protection system developed by Trelleborg for the renewables market. This innovative protection system can be installed, removed, and reused without the use of remotely operated vehicles or driver involvement, improving safety and reducing installation complexity. The solution also provides a monopile and J-tube installation for wind turbine generators and offshore substation platforms without procedural variation.”
According to the report, implementation of smart grid will be a key driver for market growth. A smart grid refers to an automated, widely distributed network for energy delivery with responsive and organic capabilities. The smart grid enables monitoring, analysis, control, and communication, resulting in a significant reduction in energy consumption. The benefits that the smart grid technology will offer to China’s energy landscape and the government’s investments in its implementation will propel the demand for power cables in China during the forecast period.
Further, the report states that heavy reliance on solid fuels will be a challenge for the market. Even with the current scenario of almost 100% electrification rates and an extensive regional grid system, a majority of the rural Chinese populace still prefer to use solid fuel as a source of energy. About 47% of the total households, as of 2014, relied on solid fuels for cooking and heating purposes. Coal and biomass are the key solid fuels, and usage rates are highly dependent on the local supplies. As per International Energy Agency (IEA), by 2030, about 280 million people in China still rely on solid fuels for their heating and cooking needs.
Far East Cable Company, Jiangnan, Nexans, Prysmian, Shandong Wanda Cable, Anhui Hualing Cable, Baosheng, General Cable, Havells, Henan Huadong Cable, Henan Jinshui Cable, Henan Tano, Jiangsu Shangshang Cable, Jiangyang Cable, Luoyang Da Yuan Cable Factory, Shanghai Shenghua Cable, Suli, TBEA Shandong Luneng Taishan Cable, Wanma Cable, Zhengzhou Yifang Cable.