Global High Voltage Cables Market - Segmented by Type of Transmission, Type of Current, and Geography - Growth, Trends, and Forecast (2022 - 2030)
The growing electricity generation and consumption, along with the changing power generation industry dynamics, are expected to drive the transmission and distribution network growth, which, in turn, is expected to drive the high voltage cables market during the forecast period.
Transmission and Distribution Network Expansion and Renovation to Drive the Market
The global electricity consumption is growing. At the same time, due to environmental concerns, many countries are reducing the use of coal and oil for electricity generation. Coal accounts for about 40% of global electricity generation. In order to meet the energy demands while reducing the coal and oil consumption in power sector, the focus on reducing the transmission and distribution losses has increased. About 8% of total electricity generation is lost in transmission losses, globally. In order to reduce these losses, it is necessary to replace older transmission lines with modern cables. Hence, the focus on reducing the transmission losses is expected to drive the high voltage cables demand during the forecast period.
Growth in Renewable Energy Sector to Drive the Market
The renewable energy power generation sector is expected to register a significant growth during the forecast period, as renewable energy is cheaper and cleaner than other power generation sources. The renewable power plants are generally located in remote areas and hence are required to be connected to national grid, which requires new transmission infrastructure. Therefore, the growth of renewable energy is expected to drive the market demand during the forecast period.
Asia-Pacific Region to Lead the Market Growth
Many countries in the Asia-Pacific region have inadequate transmission and distribution (T&D) network and hence, electricity is not available in some of the remote and rural areas. To bring electricity to these areas, the countries in the region are investing heavily in building transmission line network. The expansion of these networks is expected to register a significant growth during the forecast period, which, in turn, is expected to drive the high voltage cables market in the region. Many countries in the region have failed to fulfill the growing demands, and hence, have to face load shedding problems. The transmission infrastructure in these countries is old, and hence, causes high transmission losses. In order to reduce these transmission losses, developing countries in the region such as India and China, are expected to replace the older transmission network with modern high voltage cables, in turn driving the market during the forecast period.
Egypt to Experience Significant Market Growth
Egypt’s electricity generation and consumption has registered a significant growth. But the consumption is exceeding the generation growth. As a result, the government is expected to invest heavily in power generation projects to meet the demands and is expected to build new power projects, particular gas-fired and renewable power projects. During 2011—16, the power generation in the country registered a CAGR of 4.7%. This growth rate is expected to increase in the coming years. To connect the new power plants to the consumers, new transmission line projects are expected to start in the country, in turn, driving the high voltage cables market during the forecast period.
Key Developments in the Market
● February 2018: VINCI Energies, through its subsidiary, Oxymon Energy Transition, won a contract from Société d'Electricité du Sénégal (SENELEC). The contract includes installation of ultra-high voltage transformer station, about 200 kms of overhead and underground EHV transmission lines and more than 100 distribution substations in Senegal. The total cost of the project is EURO 197 million and the duration of the project is about 36 months.
MAJOR PLAYERS: ABB, Cable Corporation of India Ltd, Finolex Cables Ltd, General Cable Technologies Corporation, among others.
Reasons to Purchase this Report
● Current and future global high voltage cables market outlook in the developed and emerging markets
● Analyzing various perspectives of the market with the help of Porter’s Five Forces analysis
● The segment that is expected to dominate the market
● Regions that are expected to witness the fastest growth during the forecast period
● Identify the latest developments, market shares, and strategies employed by the major market players
● 3 month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
● This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Transmission and Distribution Network Expansion and Renovation to Drive the Market
The global electricity consumption is growing. At the same time, due to environmental concerns, many countries are reducing the use of coal and oil for electricity generation. Coal accounts for about 40% of global electricity generation. In order to meet the energy demands while reducing the coal and oil consumption in power sector, the focus on reducing the transmission and distribution losses has increased. About 8% of total electricity generation is lost in transmission losses, globally. In order to reduce these losses, it is necessary to replace older transmission lines with modern cables. Hence, the focus on reducing the transmission losses is expected to drive the high voltage cables demand during the forecast period.
Growth in Renewable Energy Sector to Drive the Market
The renewable energy power generation sector is expected to register a significant growth during the forecast period, as renewable energy is cheaper and cleaner than other power generation sources. The renewable power plants are generally located in remote areas and hence are required to be connected to national grid, which requires new transmission infrastructure. Therefore, the growth of renewable energy is expected to drive the market demand during the forecast period.
Asia-Pacific Region to Lead the Market Growth
Many countries in the Asia-Pacific region have inadequate transmission and distribution (T&D) network and hence, electricity is not available in some of the remote and rural areas. To bring electricity to these areas, the countries in the region are investing heavily in building transmission line network. The expansion of these networks is expected to register a significant growth during the forecast period, which, in turn, is expected to drive the high voltage cables market in the region. Many countries in the region have failed to fulfill the growing demands, and hence, have to face load shedding problems. The transmission infrastructure in these countries is old, and hence, causes high transmission losses. In order to reduce these transmission losses, developing countries in the region such as India and China, are expected to replace the older transmission network with modern high voltage cables, in turn driving the market during the forecast period.
Egypt to Experience Significant Market Growth
Egypt’s electricity generation and consumption has registered a significant growth. But the consumption is exceeding the generation growth. As a result, the government is expected to invest heavily in power generation projects to meet the demands and is expected to build new power projects, particular gas-fired and renewable power projects. During 2011—16, the power generation in the country registered a CAGR of 4.7%. This growth rate is expected to increase in the coming years. To connect the new power plants to the consumers, new transmission line projects are expected to start in the country, in turn, driving the high voltage cables market during the forecast period.
Key Developments in the Market
● February 2018: VINCI Energies, through its subsidiary, Oxymon Energy Transition, won a contract from Société d'Electricité du Sénégal (SENELEC). The contract includes installation of ultra-high voltage transformer station, about 200 kms of overhead and underground EHV transmission lines and more than 100 distribution substations in Senegal. The total cost of the project is EURO 197 million and the duration of the project is about 36 months.
MAJOR PLAYERS: ABB, Cable Corporation of India Ltd, Finolex Cables Ltd, General Cable Technologies Corporation, among others.
Reasons to Purchase this Report
● Current and future global high voltage cables market outlook in the developed and emerging markets
● Analyzing various perspectives of the market with the help of Porter’s Five Forces analysis
● The segment that is expected to dominate the market
● Regions that are expected to witness the fastest growth during the forecast period
● Identify the latest developments, market shares, and strategies employed by the major market players
● 3 month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
● This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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