Global Power Transmission Cables Market Research Report - Forecast to 2028

Power Transmission Cables Market Information Report by Installation (Overhead, Underground and Submarine), by Voltage (High and Medium), by Users (Utility and Industrial) and by Region - Forecast to 2028

ID: MRFR/E&P/1236-HCR | February 2021 | Region: Global | 185 pages

Power Transmission Cables Market Overview


Power Transmission Cables Market is expected to grow at a higher CAGR of 6.5% during the estimated period to account for higher market value in the market.


For carrying the electricity for generating units typically used by end-users are provided by Power Transmission Cables Market. Owing to high quality, up-gradation of aging grid infrastructure, rising demand for renewable power sources accelerates the demand for market. Moreover, the increasing industrialization and urbanization are some other factors that accelerate the growth of the market.


Competitive Landscape


The most prominent major key players in the Power Transmission Cables Market are mentioned below:



  • General Cable Technologies Corp.

  • KEC International Ltd.

  • Southwire Co. LLC

  • Nexans

  • ABB

  • Finolex Cables

  • General Cables

  • Zhejiang Shengda Steel Tower Co. Ltd.

  • Kalpataru Power Transmission Ltd.,

  • Nexans S.A.

  • Prysmian S.p.A.

  • Shandong DingChang Tower Co. Ltd.

  • Nanjing Daji Iron Tower Manufacturing Co. Ltd.,

  • Sumitomo Electric Industries Ltd.


These major key players use various strategies to sustain their market position in the market by collaborating, by going for mergers, and acquisitions, setting up a new joint venture, establishing a partnership, developing a new production process, innovation in the existing product, developing a new product line, and many others to expand their customer base in the untapped market of the power transmission cables all across the globe.


COVID 19 Analysis


With the growing outbreak of the global pandemic of COVID 19 businesses have suffered huge losses which have pushed the economies towards forced recession. The growing wave of the global pandemic has suffocated the individual to fight between the financial crises along with health concerns. The situation of lockdown has resulted in shut down of most of the manufacturing units which leads to a steep downfall in the sales revenue of the market all across the globe. The supply chain networks have also been disrupted which results in reduced profit margin.


However, it is expected that the Power Transmission Cables Market will recover from this global pandemic of COVID 19 by strategizing properly to meet the requirements of their customers. Also, it is expected to recover at the end of the third quarter in the coming year.


Market Dynamics


Drivers


The main work of the market is to provide an uninterrupted supply of electricity from the place of generation to the place of consumption. The sudden increase in the population all across the globe results in high demand for electricity which creates demand for market . Moreover, the increasing industrialization and urbanization are other factors that drive the demand for market all across the globe.


Opportunities


The demand for market is increasing rapidly . The government of various emerging countries has 100% electrification targets which provide immense growth opportunities for the power transmission cables during the forecasted period . The deployment of power lines at a diverse location for every customer is another emerging opportunity during the forecasted period.


Restraints


The demand for market is increasing constantly but some factors restrict the growth of the market . Delay in the procedures of Authorization from the government coupled with complex planning is some factors that restrict the growth of the market . The fluctuations in the raw material prices are another factor that hinders the growth of the market.


Value Chain Analysis


The Power Transmission Cables Market is growing tremendously owing to various benefits associated and hence adds value to society. Owing to the increasing demand for electricity by various underdeveloped countries paves the way for the growth of the market . Moreover with rising population, electricity demand also rises and hence the demand for power transmission cables heightens.


Market Segmentation


The Global Power Transmission Cables Market has been divided based on voltage, installation, end-user, and region.


Based on the Voltage


The market has been divided based on the voltage into high voltage power transmission cables, low voltage power transmission cables, and medium voltage power transmission cables.


Based on the Installation


The market has been divided based on the installation into overhead installation, underground installation, and submarine installation.


Based on the End-User


The market has been divided based on the end-user into utility services, and industrial sector.


Based on the Region


The market has been divided based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.


Regional Analysis


The Power Transmission Cables Market has been divided based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the market is held by the North American region owing to prevalence 9f stringent norms for use of energy efficiency. The expansion of smart grid networks is another contributing factor that drives the demand for the market in the North American region.


The second-largest market share in the market is held by the European region owing to increasing retrofit and reimbursement of existing grid infrastructure in the European region. Also, owing to increasing stringent efficiency norms for an energy boost the demand for market.


The third-largest market share in the market is held by the Asia-Pacific region as this is the fastest-growing region. The huge expansion of micro-grid networks is the main reason that propels the demand for market.


The Middle East and African region along with the Latin American region show a positive growth rate in the market. The increasing demand for electricity for supporting ongoing infrastructural activities is the main factor that accelerates the growth of the market coupled with the integration of the sustainable electrical network.


Recent Developments



  • In November 2019, MHI Vestas has been acquired by Nexans SA for an uninterrupted supply of Windlink cable kits for 2 years. This will provide medium voltage as well as low voltage cable kits to cater to the increasing need for power transmission cables in countries like Brazil, the USA, Europe, and China.

  • In April 2020, Jan De Nal Group has been awarded by TenneT for installation of high voltage cables for an adequate supply of grid connection for West Alpha and Hollandse Kust Noord winds farms of Butch Offshore.

  • The largest market share in the market is held by the North American region owing to the presence of giant countries like the USA, and Canada and their increasing demand for adequate electric supply.

  • Nanjing Daji Iron Tower Manufacturing Co. Ltd is investing huge amounts in research and development which will provide an upper edge over the competitors resulted in higher sales revenue and profit margins.


Report Overview


The global Power Transmission Cables Market research report consists of the following elements mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global Power Transmission Cables Market research report contains factors that drive the growth of the market along with the factors that restrict the growth of the market . The opportunities available for the growth of the market during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the market all across the globe is mentioned. The future growth rate of the market during the forecasted period is estimated and mentioned.


Intended Audience


Investment bankers and M & A Consultants, industry associations and publications, power transmission cables service providers, and others.



Report Scope:
Report Attribute/Metric Details
  Market Size   2028: Significant Value
  CAGR   6.5% CAGR (2021-2028)
  Base Year   2020
  Forecast Period   2021-2028
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Installation, Voltage and Users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   General Cable Technologies Corp., Southwire Co. LLC, Zhejiang Shengda Steel Tower Co. Ltd., KEC International Ltd., Kalpataru Power Transmission Ltd., Nexans S.A., Prysmian S.p.A., Shandong DingChang Tower Co. Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., and Sumitomo Electric Industries Ltd
  Key Market Opportunities   New product launches and R&D Amongst major key players
  Key Market Drivers   Rapid urbanization and industrialization


Frequently Asked Questions (FAQ) :


The most renowned companies striving to achieve a better position in the market are Prysmian S.p.A., General Cable Technologies Corp., Sumitomo Electric Industries Ltd., Shandong DingChang Tower Co. Ltd., Nexans S.A., Nanjing Daji Iron Tower Manufacturing Co. Ltd., KEC International Ltd., Southwire Co. LLC, Kalpataru Power Transmission Ltd., Zhejiang Shengda Steel Tower Co. Ltd., and others.

The market for Power Transmission Cables can record a growth rate of close to 6.5% in the next few years.

The installation-based market segments are overhead, underground and submarine.