The Asia Pacific High Voltage Cables Market would witness market growth of 6% CAGR during the forecast period (2020-2026). The demand for electricity in Asia Pacific, with a growing population, has been gradually rising. Rapid urbanization rates and rural electrification goals introduced by governments have also raised demand for electricity. China is a regional leader in the demand for high-voltage cables, accounting for more than half of Asia Pacific's share. The emergence of rising economies such as Japan, South Korea, and India, where electricity demand has steadily risen every year, has also had an impact on Asia Pacific's existing market share. With the implementation of technological advancements in electricity transmission and distribution networks in the region, the market offers a strong opportunity for growth.
The growth in population index across cities and favourable electrification measures across grid-insulated areas have contributed to a substantial rise in energy consumption. The significant rise in demand for peak load has driven utilities to expand and improve the regional electrical supply network with the goal of ensuring grid safety and reliability. Following this, the rising energy demand strongly driven by growing demand for effective grid networks will have a positive effect on the market. The introduction of grid-connected renewable infrastructure in line with decentralized micro-grid networks has led to a need for technologically advanced circuit components to cope with fluctuating frequency network integration. Such renewable networks face fluctuations of frequency and varying wavelengths requiring effective monitoring and control of circuits. Henceforth, manufacturers and developers around the industry have invested extensively in the integration of smart monitoring, control and performance units.
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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: High Voltage Cables Market in Asia Pacific is expected to register a CAGR of 6% 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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