LONDON, Aug. 15, 2016 /PRNewswire/ -- "High voltage cables & accessories market is estimated to grow at a CAGR of 6.0% during the forecast period"
The global high voltage cables & accessories market is expected to reach a size of USD 41.27 billion by 2021, at a CAGR of 6.0% from 2016 to 2021. It has become imperative nowadays to connect power facilities across water bodies, as offshore oil and gas production installations look for shore-generated power, and offshore wind parks need to bring their green power generation to power grids onshore. The use of high voltage cables & accessories provide a smooth Transmission & Distribution (T&D) network. So, the growth of offshore windfarms is a major factor driving the high voltage cables & accessories market.
"Underground high voltage cables & accessories is the highest growing segment during the forecast period"
The underground high voltage cables & accessories segment is expected to grow at the highest rate by 2021, owing to the adoption of underground transmission technology by several countries to reduce transmission losses and reduce outages by providing continuous power supply. Utilities and transmission companies are investing in their transmission systems and upgrading existing lines or installing new lines near the urban or suburban areas, where new rights of way and permission is not easy to procure. Thus, there is a global need to reinforce transmission system with underground transmission.
"Middle East & Africa is the fastest growing region in the high voltage cables & accessories market"
Middle East & Africa is the fastest growing region in the global high voltage cables & accessories market. This growth and increasing demand for high voltage cables & accessories is attributed by the investments in T&D, led by growing infrastructure developments, and emerging offshore wind energy generations activities, with a focus on generating electricity domestically. Also, it is trying to meet the demand by government investments in electricity infrastructure to cater to fast-growing economies and population.
Breakdown of primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitate information as well as assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2-27%, and Tier 3-13%
By Designation: C-Level-50%, Director Level-30%, and Others*-20%
By Region: North America-30%, Latin America-20%, Europe-20%, Asia-Pacific-20%, Middle East &Africa-10%
Note:*Others include product managers, marketing managers, and sales managers
The tier for companies has been defined on the basis of their total revenue, as of 2013: Tier-1 = >USD 5 billion, Tier-2 = From USD 1 billion to USD 5 billion, and Tier-3 =
Leading players of this industry have been profiled with their recent developments and other strategic activities. These include ABB Ltd. (Switzerland), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Nexans (France), NKT Cables (Germany), and General Cable Corporation (U.S.) among others.
Why buy this report?
1. The report identifies and addresses key markets for high voltage cables & accessories, which is useful for manufacturers, suppliers, and utilities to review production, distribution, and installation plans.
2. The report includes analysis for key countries of high voltage cables & accessories by installation that is overhead, underground, and submarine high voltage cables & accessories systems. It analyzes historical trends and also forecast for 2021 assisting in strategic decision making.
3. It also presents competition by analyzing recent market developments such as contracts & agreements, new product launches, expansions, and mergers & acquisitions from key global market players. It helps to understand the competition strategies and plan respective initiatives.
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