The North America High Voltage Cables Market would witness market growth of 4.9% CAGR during the forecast period (2020-2026). High voltage cables are shielded cables that are primarily used for high voltage power transmission. These consist of a capacitor, a capacitor shield, an insulator, a semiconductor insulation shield, a metal insulation shield and a sheath. High voltage cable systems consist of high voltage cables such as impregnated mass (MI), cross-linked polyethylene (XLPE), bare conductors and components such as cable joints and terminals. XLPE and MI are commonly used for both underground and underwater cable networks. High voltage and adapters are used to transmit power over long distances. The cables and accessories undergo the appropriate form of tests in accordance with national as well as international requirements, such as duration tests, in order to confirm fully functional cables or to detect faulty cables.
This energy generation has to be transmitted to end-users via efficient cables with less transmission loss. Therefore, high voltage (HV) cables allow the transmission and distribution of electricity in a secure manner. Submarine HV cables are now designed to allow connectivity between regions across the globe. Power grid interconnection has proven to be advantageous to the development of the global market due to its benefits, including decreased transmission losses and effective power transmission. In addition, the power grid provider is undergoing upgrades and replacements to the old infrastructure.
Growth in offshore wind farms, increased investment in grid interconnections and increased investment in transmission and distribution networks are main factors driving the market. High voltage (HV) cables are commonly used for the transfer and delivery of electricity from substations. Growing investments in smart grids and power transmission and distribution systems are expected to run from 2020 to 2026. The introduction of smart grids in both developed and developing economies increases the need for grid interconnections, resulting in expanded investment in underground and submarine cable systems.
Based on Installation Type, the market is segmented into Overhead, Submarine and Underground. Based on End User, the market is segmented into Energy & Power, IT & Telecom, Aerospace & Defense, Oil & Gas, Building & Construction and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: High Voltage Cables Market in North America is expected to register a CAGR of 4.9% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include 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.).
Market Segmentation:
By Installation Type
By End-User
By Country
Companies Profiled
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