Market Research High Voltage Cables & Accessories Market | Page 2

purchasing power of individuals, coupled with per capital consumptions has led to increase in demand
for energy. Therefore, to sustain the required supply of energy, companies are financing technologies
that can distribute and transmit power efficiently. Thus, a remarkable upsurge in high voltage cables &
accessories and related accessory products is anticipated to be perceived in the coming years.
The major drawback that might affect the high voltage cables & accessories market are the volatile
nature of raw material prices and regulatory, environmental, and complex authorization procedures,
which often leads to delays. However, need for efficient transmission systems, growth of offshore wind
farms, and the increasing application on grid interconnections, is anticipated to reduce the impact of the
aforementioned drawbacks of the high voltage cables & accessories market. Furthermore, constant rise
in power generation capacity and implementation of smart grid technology are anticipated to further aid
the market.
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The high voltage cables & accessories market can be segmented based on installation type, product
type, voltage, and region. In terms of installation type, the market can be divided into submarine,
underground, and overhead. Underground cable systems are implemented by numerous countries to
minimize transmission loss and reduce outage by providing uninterrupted power supply. The
underground high voltage cables & accessories market is augmented by the requirement for greater
power to be delivered to urban areas, along with an increasing resistance to overhead transmission lines
in the proximity of residential areas. Based on product type, the high voltage cables & accessories
market can be classified into fittings & fixtures, XLPE cables, cable joints, MI, cable terminations,
conductors, and others. In terms of voltage, the market can be divided into 72.5kV, 123kV, 145kV,
170kV, 245kV, and 400 kV & above.
Based on region, the high voltage cables & accessories market can be segregated into North America,
Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the market in 2016
and this trend is anticipated to continue over the forecast period. China lead the high voltage cables &
accessories market in Asia Pacific. Manufacturers and service providers are focusing, as well as, creating
huge possibilities in the service industry. Furthermore, private service providers & producers,
government, and manufacturers of cables & accessories are constantly trying to integrate their present
technologies and develop novel ones generally to increase the volume of high voltage transmission and
minimize the influence of high voltage transmission near residential areas.  The market in Middle East &
Africa is fast expanding, owing to investments in R&D, rise in infrastructure developments, and evolving
wind energy generation projects that generate electricity in the region.
Key players operating in the market include NKT Cables Group A/S, Prysmian S.P.A., General Cable
Corporation, Nexans S.A., Sumitomo Electric Industries, Ltd., LS Cable & System Ltd., Dubai Cable
Company (Private) Ltd., and Southwire Company, LLC.
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