According to the latest market research study released by Technavio, the global electrical conductor market for power industry is expected to grow at a CAGR of more than 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global electrical conductor market for power industry based on applications:
Global electrical conductor market for power industry share by applications 2015
|
Power Cables |
68.5% |
|
Transformer |
11.8% |
|
Busbar |
16.8% |
|
Submarine Power Cables |
3.0% |
Source: Technavio
Global electrical conductor market for power cables
The electrical conductors market for power cables generated revenues of over $71 billion in 2015 and is expected to post a CAGR of more than 6% by 2020. Power cables are an assembly of one or more electrical conductors that is held together with an overall sheath. These cables are used for transmission and distribution of large quantities of electrical power and have three basic components that include conductor, insulation, and protective covering or sheath. The conductors are the only part of power cables that are capable of carrying power. These conductors are made of materials like copper and aluminum with types like Class 1, Class 2, and Class 5. Materials like polyvinyl chloride (PVC), cross-linked polyethylene (XLPE), and rubber provides the insulation characteristics in a power cable.
“The power utility segment is the primary end-user of power cables, and it is used for generation of electricity, transmitting the power, and for the distributing it to the consumers. These cables are deployed by utility companies to carry electric power efficiently. The high-voltage and medium-voltage power cables are used for transmission purposes and use low-voltage power cables for distribution of electricity to consumers. Countries like China, India, Vietnam, Indonesia, and Thailand are contributing to the highest revenue in the market,” says Gaurav Mohindu, a lead analyst at Technavio for research on engineering tools.
Global electrical conductor market for transformers
The conductor market for transformers generated revenues of more than $12 billion in 2015 and is expected to grow at a CAGR of over 5% by 2020. The transformer core consists of windings that form the most important component of the transformer which is made of copper, and both the power and distribution transformers use electrical conductors. The rapid rate of urbanization in developing countries is increasing the demand for reliable distribution of electric power and promoting the growth of the market. The installation of distribution transformers ensures efficient supply of electric power at required voltages.
Global electrical conductor market for busbar
The conductor market for busbars generated revenues of around $12 billion in 2015 and is expected to reach revenues of close to $16 billion by 2020. The busbar is a metallic strip or a bar capable of conducting electricity and are a vital component of the electrical power grid. These strips enable the grid to conduct electricity and helps in helping the loss of power. The extensive use of busbars in power infrastructures such as substations, switchgear, transformers, and other T&D equipment will help in the growth of this market segment. The influx of new projects of establishing new plants and T&D network and the expansion and revamping existing factories will result in an increase in demand for busbars.
Global electrical conductor market for submarine power cables
The conductor market for submarine power cables generated revenues of more than $4 billion in 2015 and is expected to reach revenues of over $5 billion by 2020. The cables are used as transmission cable for transporting electric power below the surface of the freshwater or ocean bed. The offshore wind energy farms are the primary end-user of these cables. The submarine power cables to aid in easy import and export of electric power as per the demand of the country or island. The expansion activities of the renewable energy sector will promote the evolution of this market segment.
The top leading vendors operating in the global electrical conductor market for power industry are:
- Apar Industries
- CTC Global
- General Cable
- Nexans
- Sterlite Technologies
Other prominent vendors in the market include Grupo Cabelte, Lamifil, Diamond Power Infrastructure, Gupta Power, J-Power Systems, TELE-FONIKA Kable, Midal Cables, and 3M.
A more detailed analysis is available in the Technavio report titled, ‘Global Electrical Conductor Market for Power Industry 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electric Insulator Market 2016-2020
- Global Low Voltage Capacitor Market 2016-2020
- Global Graphite Electrodes Market 2016-2020
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