Emerging renewable sources for power generation followed by rising power demand in developed as well developing economies are expected to provide potential opportunities for high voltage cables & accessories market over the coming years.
In 2019, the global high voltage cables & accessories market accounted for >USD 30 billion. Increasing investment in wind energy followed by weak power transmission network in rural part of developing economies are expected to offer potential opportunity for high voltage cables & accessories market over the coming years. However, unstable raw material prices, investment constraints, complex authorities, and requirement of highly skilled technicians for cable installation are expected to be some key market challenges over the coming years.
The global high voltage cables & accessories study summaries the various features of the high voltage cables & accessories industry by gauging the market from value chain analysis, PESTEL model, and Porter’s Five Forces mode. Moreover, the high voltage cables & accessories market study encompasses various qualitative factors such as market restraints, market drivers, opportunities, key market trends, and impact of COVID on the industry. Additionally, the high voltage cables & accessories market study offers a complete valuation of the market competition through company profiles of the leading global and domestic manufacturers operating in this industry.
The high voltage cables & accessories market is expected to face strong competition amongst the already operating well-established manufacturers and new market entrants. Also, by joining mergers & acquisitions, alliances, acquisition of other firms, and creating alliance & collaborations, the high voltage cables & accessories industry manufacturers are looking for possible markets to take a competitive gain over the other manufacturers existing in this sector.
Asia Pacific dominated the global high voltage cables & accessories market in 2019 and was accounted for more than 30% of the overall market share. Middle East & Africa is expected to show promising market opportunities over the forecast period by virtue of increasing power demand coupled with government initiatives towards renewable sources for power generation.
The global high voltage cables & accessories industry has large number of well-established manufacturers and small & medium scale manufactures. Key companies operating in this industry are Baosheng High Voltage Cable, Kabelwerke Brugg, Jiangnan Group, EL Sewedy Electric Company, LS Cable & System, Nexans S.A., Sumitomo Electric Industries, General Cable Corporation, Dubai Cable Company Ltd., Southwire Company, Tianjin Suli Cable Group, Furukawa Electric, , Tele-Fonika Kable Sa, NKT Cables Group A/S, and Prysmian S.P.A. Manufacturers operating in this industry are adopting merger & acquisition, new product development, technological advancement, research & development, and facility expansion in order to form strategies to increase their customer base.
Key Segments of the Global High Voltage Cables & Accessories Market
Installation Overview, 2018-2028 (USD Billion)
Voltage Overview, 2018-2028 (USD Billion)
- 100 - 250 KV
- 251 - 400 KV
- Above 400 KV
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South Americ