The Europe High Voltage Cables Market would witness market growth of 5.4% CAGR during the forecast period (2020-2026). Smart grid is an electrical infrastructure composed of sensors, computers, automation and emerging technology and devices that work together to provide efficient transmission of electricity. The increasing population is contributing to an rise in demand for electricity, a need to reduce the frequency and length of power outages, and a faster recovery of service after outages, which required better and much more technologically advanced grids. Smart grids aim to provide more reliable power, generate more efficient solar energy, use a combination of energy sources, work with smart appliances and smart houses, minimize carbon emissions and encourage the use of electric vehicles (EVs). As a result, the increase in demand for smart grids is projected to fuel demand for HV cables over the forecast period.
Rapid commercialization to satisfy the overall economic growth positively influenced by foreign direct investment (FDI) schemes in favor of commercial and industrial establishments will drive demand for complex and reliable grid infrastructure. In addition, ongoing digitalization across the industry has significantly incorporated a competitive industrial outlook due to the growing demand for energy from communication base stations and data centers. The increasing integration of advanced, reliable, secure and energy-efficient cables has further increased the global market for high-voltage cables.
The influx of advanced submarine, overhead and underground cable infrastructure has inculcated a sustainable business potential. Manufacturers & suppliers have continually simplified their R&D activities in order to boost product portfolios, and the current allocation of funds from leading players would complement the market in order to infuse a flexible development platform. In addition, positive consumer trends towards the installation of products with a view to ensuring the living environment and the overall life span of the electrical network will improve the dynamics of the industry.
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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: High Voltage Cables Market in Europe is expected to register a CAGR of 5.4% 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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