Power transmission cables are widely used in transmission and distribution of electricity to various residential and commercial consumers.Power transmission cables are insulated with various materials such as PVC (Poly Vinyl Chloride), XLPE (Polyethylene with cross-links), rubber, impregnated paper and varnished cambric.
Global power transmission cables market is projected to register significant growth over the forecast period.Increasing investment in renewable energy across the globe requires installation of new power transmission lines to connect with the existing grid. This has inclined the demand for power transmission cables all over the world over the past few years. Besides this, the growing demands for power transmission to offshore installation such as connectivity of conventional grid to offshore wind power installations, connectivity to islands and power transmission to offshore oil & gas installations aresome of the factors driving the growth of power transmission cables market.Moreover, rising demand for underground transmission cables especiallyin developed economies such as U.S. and Australia with focus to reduce transmission and distribution losses are expected to fuel the growth of global power transmission cables market.
Asia Pacific is projected to be the largest as well as fastest market in terms of value during the forecast period owing to the increasing power requirement especially in India and China.Upcoming projects for grid interconnectivity and renewable energy are expected to impel the market growth of power transmission cable market in the region over the forecast period.
The leading players identified across the value chain of power transmissions cablesmarket are highly focused on development of innovate products related to power transmission cables. In order to penetrate in the market, the companies are also emphasizing on merger and acquisition which is anticipated to be one of the major business strategies in future.
Global Power TransmissionCables and TowersMarketis segmented on the following bases:
Key Players Identified Across the Value Chain in the Power Transmission CablesMarket include but are not limited to:
Superconductor Technologies Inc.,nkt cables Group GmbH,Southwire Company, LLC,General Cable Technologies Corporation, AEI Cables Ltd, JDR Cable Systems Ltd.and others.
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