Global High Voltage Cables Market Size By Voltage Class (50 kV - 110 kV, 115 kV - 330 kV, > 330 kV), By Application (Utility, Industrial) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, UK, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Egypt, South Africa) Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025
Ongoing commercialization to serve the global economic growth favored by FDI schemes to positively influence industrial and commercial establishments will boost the demand for reliable & complex grid infrastructure. Furthermore, rapid digitalization across the industrial peripherals has significantly infused a competitive industrial scenario owing to rising energy demand from data centers and communication base stations. Growing adoption of secure, energy efficient, advanced and reliable cables have further stimulated the HV cables market.
The power cable industry has majorly been regulated by various sets of guidelines and mandates, which have standardized the deployment and manufacturing trends globally. In the recent years, grid-isolated establishments have been the prime focus for installers and regulators as these pose immense potential for business growth and expansion. Moreover, the increasing energy demand favored by positive consumer shift to incorporate a sustainable electricity network will stimulate the high voltage cables market.
Favorable mandates for electrification across grid-isolated establishments coupled with increase in population across cities has led to upsurge in energy consumption. The apparent rise in peak load demand has compelled the utilities to upgrade & upscale regional electric supply network to ensure grid reliability & security. Henceforth, increasing energy demand favored by rising demand for effective grid networks will escalate the HV cables market growth.
The influx of enhanced overhead, underground & submarine cable technologies has integrated a sustainable business scenario. Suppliers and manufacturers have consistently been streamlining their R&D fund allocation to develop product portfolios in addition, fresh investments from leading industry participants to adopt flexible technologies which will further augment the HV cables market. Moreover, favorable consumer inclination toward the deployment of HV units to secure the overall life expectancy and living environment of the electric infrastructure will thrust the industry outlook.
In the recent years, Europe has observed positive consumer tendencies towards energy efficiency which has infused a favorable business outlook. Transmission and distribution retrofitting industry plays a vital role in increasing the energy demand across the region. Siemens, as per its survey stated that over 60% of electricity transmission lines across the region have been operational for around 25 years and need to be re-installed. Growing electricity demand will substantially impact the fund flow in Europe T&D refurbishment industry, which will further escalate the high voltage cables market growth.
Utility aided high voltage (HV) cables market, in 2018 exceeded an annual deployment of over 30’000 km. Integration of grid connected renewable energy infrastructure in line with decentralized micro-grid network has led to the demand for technically efficient circuitry components to endure the incorporation of fluctuating frequency networks. Henceforth, manufacturers across the region have substantially been allocating funds to instigate smart monitoring and control units.
Eminent high voltage (HV) cables market players include ZTT, Nexans, Furukawa Electric, LS Cables, Elsewedy, Prysmian, Sumitomo, NKT, APAR, Taihan Electric, Sterlite Power, Gupta Power, KEC, Riyadh Cables, KEC, Kelani cables, KEI, Alfanar, ABB and Southwire.
Electrical Conduit Market in 2017 surpassed USD 5 billion and is projected to grow by 8% by 2024. Increasing standards to curb health, electrical supply faults, fire, and other operational hazards along with positive regulatory schemes towards upgradation of standard product configurations will drive the electrical conduit market. Growing research and development fund flow from leading players to enhance and develop the product portfolio with targets to integrate a versatile technological platform which will act as a breakthrough.
1 ¼ to 3 trade size conduits, in the recent years, have gained a significant upsurge on account of large-scale commercial development and retrofitting of small-scale industries across developing nations. Furthermore, increasing suburban migration in developing economies has further led to the growth of large multi-storey building, residential apartments and complexes, driving the global electrical conduit market share.
Electricity supply across manufacturing facilities and large-scale industries have been critical applications, which demand for reliability and safety of the entire power network. Thereby, rising measures to incorporate a safe operational environment in line with aesthetic proximities will augment the > 3 marked global electrical conduit market growth. In addition, growing metal extraction activities along with rapid development of railway infrastructure involve large scale electric network development which in turn will strengthen the industry scenario.
Extensive electric distribution network across large metal and mining industries in line with high dependency on railway network will escalate the overall metal electrical conduit market growth. Although the integration of effective non – metallic and flexible conduit deployments have hindered the business growth, however, standardized product configurations favoured by high replacement cost across the large-scale industry applications will endure the overall business landscape.
Rising electricity demand from various industries including the shipbuilding industry coupled with large-scale manufacturing plants have incorporated a favourable business potential. Precision work integrated across the large-scale industries together with enhancing product specifications will complement the overall conduit market share. In addition, increasing aesthetic proximity along with the rising flexible wire and cable management systems demand will further boost the industry dynamics.
Increasing prominence on the incorporation of diversified frequency distribution networks coupled with rising concerns for operational energy-efficient environment will augment the global industrial electrical conduit market share. Rising ultra-high voltage networks demand coupled with increasing fund allocation by private and administrative organizations along with the ongoing electrification programs across developing economies will further enhance the industry growth.
Asia Pacific electrical conduit market will witness significant upsurge subject to the increasing demand for electricity from emerging regions. India and other developing nations are considered as convenient areas as they continue to improve the existing power networks to meet the steady power demand. In 2016, renewable energy attracted investments worth USD 241.6 billion globally with a total of 138.5 GW capacity addition, out of which 47% were in Asia Pacific countries.
Prominent electrical conduit industry players comprise of Aliaxis, ABB, Astral, Atkore, ANAMET, Champion Fiberglass, Cantex, Hubbell, Schneider, Legrand, Hellermann Tyton, Mexichem, Wienerberger, Electri-Flex, and Zekelman.
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