London, 02 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global High-voltage Power Cables Market 2015-2019, which is expected to grow at a CAGR of 7.25% from 2015-2019.
Market Segmentation by Voltage
Major economies across the world are resorting to alternative sources of energy such as wind and solar to meet their domestic energy demand. The integration of alternative energy sources into existing electrical grid systems creates additional demand for power cables. As well, rapid urbanization of major cities across the world has led to increased industrial growth, which is expected to increase the demand for high-voltage power cables.
“Vendors are also focusing on other parameters such as flexibility, efficiency, and ease of use so that these features are not compromised when producing high-voltage power cables that are eco-friendly,” says Faisal Ghaus, Vice President of Technavio.
“These new eco-friendly power cables are not only fire retardant and emit less poisonous fumes, but are also non-corrosive and free from halogens such as chlorine and fluorine that are traditionally used in insulating power cables.”
Key Market Drivers
- Increasing demand for energy worldwide
- Upgrading of electricity transmission and distribution systems
- Demand from developing countries
Key Market Trends
- Increased investment in R&D
- Increased popularity of eco-friendly products
- Replacement of aging overhead cables
Key Market Vendors
- General Cable Industries Inc
- Nexans S.A
- Prysmian Group
- Sumitomo Electric Industries Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
