According to a new report Global High Voltage Cables Market, published by KBV research, The Global High Voltage Cables Market size is expected to reach $45.9 billion by 2026, rising at a market growth of 5.6% CAGR during the forecast period.
The overhead installation segment accounted for the largest share of revenue in 2019. Overhead installation remains the most commonly used technique. This is the most convenient and cheapest type of deployment and thus requires average installation skills. The underground installation segment is projected to rise at the fastest annual compound growth rate from 2020 to 2026.
The energy and power segment accounted for the largest share of sales. Several technical changes, such as moving old transmission cables to high voltage lines to prevent transmission losses, are being made in the T&D power ecosystem. Building and construction segment is projected to rise at the fastest compound annual growth rate over the coming years. New construction and refurbishment of commercial and industrial buildings in various regions is projected to fuel demand growth.
Asia Pacific accounted for the highest share of the global market. The region has the highest recognition and deployment of wind farms, with China keeping the leading position. The regional segment of LAMEA is projected to experience the highest CAGR due to growing investment in wind farms in the region. For example, in July 2019, the Government of the Middle East constructed the largest wind farm in the Al-Jouf region.
Structural Insights: https://www.kbvresearch.com/high-voltage-cables-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, Nexans SA, Finolex Cables Limited, NKT A/S, Sumitomo Electric Industries, Ltd., Dubai Cable Company Pvt. Ltd. (Senaat General Holdings Corporation), Cable Corporation of India Ltd. (Future Deal Properties Pvt. Ltd.), Prysmian Group, Southwire Company, LLC, and Tratos Ltd. (ALMA S.r.l.).
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