High voltage cables and accessories market is driven by the factors such as increased demand for electrical power from remote areas and growing urbanization projects, increasing grid connection projects, and rising demand for reduction of losses in transmission and distribution network. The increasing oil rigs in the offshore regions need on time power for smooth operations, and high voltage marine cables allow the power to reach the offshore oil production facilities. However, safety issues related to overhead accessories and cables is restraining the market for high voltage cables and accessories.

High voltage cables are used for carrying electric power to areas where there is no power generation utility. Also, high voltage accessories ensure efficient and uninterrupted electricity T&D as well as they provide reliable and durable solutions for transmission of high voltage current.

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Segmental Overview

The high voltage cables and accessories market is segmented on the basis of type, products, voltage ratings, and region.

Based on the segment by type, the market is further classified as overhead, underground, and submarine. Underground segment holds the largest market share due to the increasing urbanization projects and advantages of being less susceptible to damage and reduced danger.

On the basis of products, the high voltage cables and accessories market is segmented as conductors, fittings & fixtures, XLPE cables, MI cables, cable joints, cable terminations and others. Among these, conductors dominate the overhead high voltage cables & accessories market, as they have high tensile strength to withstand mechanical stresses.

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Regional Outlook

Asia Pacific is expected to have the largest market share due to growing power sector in emerging economies such as China, South Korea, and India.

Moreover, the region has had an increment in the number of projects in terms of smart grids, power generation, industrialization, urbanization, and power transmission and distribution infrastructure. For an instance, South Korea, one of the fastest emerging nation, has plans for a completely integrated smart grid by 2030. Also, Hitachi, one of the leading players in transmission and distribution network provider, has contributed to create China’s transmission and distribution network through ultra-high voltage network and the gas insulated switchgear to prevent the damage caused to network due to load imbalance.

Key Players

The major players operating in the global high voltage cables and accessories market are Siemens AG (Germany), Hitachi Ltd. (Japan), General Electric (U.S.) NKT Holdings A/S (Denmark), Nexans S.A. (France), and Prysmian Group (Italy). Finolex Cables Ltd (India), RPG Cables (India), Cable Corporation of India Ltd. (India), Brugg Kabel AG (Switzerland) and Synergy Cables Ltd. (Israel) are among others.

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