PUNE, India --- The report "High Voltage Cables Market by Type of Use (Overhead, Underground, Submarine), Overhead Products (Conductors, Fittings & Fixtures), Underground & Submarine Products (XLPE Cables, MI Cables, Cable Joints & Terminations), and Region - Global Forecast to 2021" published by MarketsandMarkets, The High Voltage Cables & Accessories Market is expected to grow from an estimated USD 30.83 Billion in 2016 to USD 41.27 Billion by 2021, at a CAGR of 6.0%.
Major factors, such as grid interconnections, offshore windfarm connections, and connections of islands with mainland, power from shore links to offshore oil & gas installations, and projects integrating renewable generation with the power transmission grid are driving the market across the globe.
XLPE cables is the biggest underground products market
XLPE (cross-linked polyethylene) cables are the most commonly used cables in undergrounding systems. The cable technology has advanced significantly, which has enabled the use of XLPE cables over the fluid-filled cable technology. XLPE provides insulation to cables to make it withstand the electric field under rated and transient operating conditions. XLPE cable was the largest segment in the underground cable systems market in 2015.
Asia-Pacific is the dominant market for high voltage cables & accessories
Asia-Pacific is the largest market for high voltage cables & accessories among other regions studied in this report. This region will continue to dominate the High Voltage Cables & Accessories Market, seeking high voltage transmission projects in the region. China is leading the regional High Voltage Cables & Accessories Market, whereas other global key markets include the U.S., India, Germany, U.K., Brazil, and Egypt. The manufacturers and service providers are focusing and creating huge prospects in this service industry. Also, governments, private producers & service providers, and cables & accessories manufacturers are continuously trying to integrate their existing technologies and develop new ones extensively to increase the capacity of high voltage transmission and reduce the impact of high voltage transmission near residential areas.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the High Voltage Cables & Accessories Market such as ABB Ltd. (Switzerland), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Nexans (France), NKT Cables (Germany), and General Cable Corporation (U.S.) among others. Dominant players are trying to penetrate developing and developed economies and adopting contracts & agreements strategy to increase their market share.
Browse 121 market data Tables and 55 Figures spread through 174 Pages and in-depth TOC on "High Voltage Cables Market" http://www.marketsandmarkets.com/Market-Reports/high-voltage-cable-accessories-market-95892251.html?utm_source=PRnewswires&utm_medium=Referral&utm_campaign=PRnewswire
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