Pune, Feb. 19, 2020 (GLOBE NEWSWIRE) -- The global medium voltage cables market size is likely to reach USD 56.39 billion by 2026, exhibiting a CAGR of 6.9% during the forecast period. The rising technological advancement in grid infrastructures will impel energy providers to increase energy production by deploying distribution lines, which in turn will bolster healthy growth of the market in the forthcoming years. For instance, in 2002, there was a construction of the Cross-Sound Cable, which consisted of a pair of high-voltage DC transmission lines through Long Island sound that connects the electricity grids of New York and New England. Furthermore, the focus of countries towards the expansion of grid systems for maximum power supply will uplift the medium voltage cables market share in the forthcoming years. For instance, in 2015, the development of 2,383 kilometre-long ultra-high-voltage transmission line connecting Jiuquan city, in northwest China's Gansu Province with central China's Hunan Province. Deng Qinghong, deputy director of the construction department of State Grid Hunan Electric Power Company, said in a statement, “This ultra-high-voltage transmission line can transfer 40 billion kilowatt-hours of power to Hunan each year, meeting one-fourth of the total power demand in the province. This power can also benefit other central China provinces through the central China power grid.”
According to the report, published by Fortune Business Insights, titled “Medium Voltage Cables Market Size, Share & Industry Analysis, By Installation (Overhead, Underground), By Voltage (1kV – 15kV, 16kV – 35kV, 36kV-70kV), By Application (Industrial, Commercial, Utility) and Regional Forecast, 2019-2026.” The report focuses on demonstrating a complete assessment of the medium voltage cables market. It contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology. It offers valuable insights into all the notable developments of the market. It shares a complete overview of all the segments & parts of the market and also provides statistical data on all the regions. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and industry developments.
To gain more insights into the market with detailed table of content and figures, click here: https://www.fortunebusinessinsights.com/industry-reports/medium-voltage-cable-market-100797
NKT Contract for offshore Export Cable Systems Will Spur Business Advances
NKT, a leading cable and cable accessories supplier, signed a supplier agreement with Dogger Bank Wind Farms Creyke Beck A and Creyke Beck B site for the delivery and installation of high-voltage DC on- and offshore export cable systems. The NKT delivery and order will comprise of 4×175 km of 320 kV DC offshore export power cables and approx. 4×32 km of 320 kV DC onshore export power cables as well as installation by the cable-laying vessel NKT Victoria. The manufacturing of the power cables will commence from the end-2021 at the manufacturing plant in Karlskrona, Sweden. The estimation of the contract is valued at EUR 360 million. The agreement between NKT and Dogger Bank Wind Farms Creyke Beck A and Creyke Beck B will contribute positively to the medium voltage cables market trends owing to its supply of green energy to approximately 3 million households in the UK. Furthermore, the NKT President and CEO, Alexander Kara said in a statement “I am excited that our long-term customers of Equinor and SSE have selected NKT as turnkey provider of the cable systems for the Dogger Bank Wind Farms Creyke Beck A/B and recognize us as a high-voltage DC technology partner in the market. In addition, I am pleased to observe the continued European focus on increasing the use of renewable energy sources, which is a trend from which NKT sees good growth opportunities”.
High Utilization of Renewables to Propel Market in North America
The market in North America is expected to rise significantly during the forecast period owing to the surge in renewable energy and exploration activities. The market in Asia Pacific stood at USD 11.89 billion in 2018 and is likely to dominate during the forecast period. The growth in the region is attributable to the rising inclination towards renewables such as wind and solar in countries such as China, India, Japan, South Korea, and Australia. Europe is predicted to witness high demand during the forecast period owing to the Green energy targets in the region.
List of the Major Companies Operating in Medium Voltage Cables Market Include:
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/medium-voltage-cable-market-100797
Table of Content:
Request for Customization:
https://www.fortunebusinessinsights.com/enquiry/customization/medium-voltage-cable-market-100797
(Have a Look at Reports Trending in Energy & Power Industry)
Browse Related Reports:
High Voltage Cables Market Size, Share & Industry Analysis, By Installation (Overhead, Underground, Submarine), By Voltage (100 kV – 250 kV, 251 kV – 400 kV, Above 400 kV), By End-User (Industrial, Utility) and Regional Forecast, 2019-2026
Low Voltage Cables Market Size, Share & Industry Analysis, By Installation (Overhead, Underground), By Product Type (Conductors, Fittings & Fixtures, PVC Cables, XLPE Cables, Cable Terminations, Cable Joints, Others), By End-User (Residential, Commercial, Industrial, Utility, Renewables, Others) and Regional Forecast, 2019-2026
Oil & Gas Cables Market Size, Share & Industry Analysis, By Cable Type (Variable Frequency Drive, Fiber optics, Copper, Type P, Type E, Others), By Sheath Material (Polyethylene, Polyvinyl Chloride, Thermoplastic Elastomer, Fluorinated Ethylene Propylene, Others), By Application (Pump Equipment, Drilling, Pipeline Management) and Regional Forecast, 2019-2026
Subsea Power Cables Market Size, Share and Global Trend By Cable Type (Single Core, Multi-Core), By Voltage Type (Medium Voltage, High Voltage), By Insulation (Paper Insulated or Fluid Filled, Extruded Plastic Insulation), By Conductor Type (Copper, Aluminium), By Application (Inter-Country & Island Connection, Offshore Wind Power Generation, Offshore Oil & Gas), and Geography Forecast till 2026
Electric Motor Market Size, Share & Industry Analysis, By Motor Type (AC Motors, DC Motors, Hermetic Motors), By Power Output (Fractional Horsepower (Up to 1HP), Integral Horsepower (Above 1HP)), By Voltage (Up to 1 kV, 1 kV-6.6 kV, Above 6.6 kV), By Application (Industrial Machinery, Motor Vehicles, Electrical Appliances, Others), By End-User (Industrial, Commercial, Residential, Agriculture) and Regional Forecast, 2019-2026
Recloser Market Size, Share & Industry Analysis, By Phase (Single-Phase, Three-Phase, Others), By Control (Electric, Hydraulic, Others), By Voltage (Low Voltage, Medium Voltage, High Voltage), By Interruption Type (Oil, Vacuum), and Regional Forecast, 2019-2026
AC Drives Market Size, Share & Industry Analysis, By Power Rating (Low Power Drives, Medium Power Drives, and High Power Drives), By Voltage (Low Voltage and Medium Voltage), By Application (Pumps, Conveyors, Compressors, Electric Fan), By End-User (Food & Beverage, Oil & Gas, Power Generation, Building Automation, Metal & Mining, Water & Wastewater, Chemical & Petrochemicals) and Regional Forecast, 2019-2026
Heat Exchanger Market Size, Share & Industry Analysis, By Type (Shell & Tube, Plate & Frame, Air Coolers, Cooling Towers, and Others), By Application (Chemicals, Oil & Gas, Power Generation, HVAC, Automobile, Pharmaceuticals, Food & Beverage, Others), and Regional Forecast, 2019-2026
Variable Frequency Drive Market Size, Share & Industry Analysis, By Type (AC Drive, DC Drive, Servo Drive), By Power Range (Micro, Low, Medium, High), By Application (Pumps, Conveyors, HVAC, Electric Fan, Extruders, Others), By End-User (Food & Beverage, Oil & Gas, Power Generation, Infrastructure, Agriculture, Mining, Others), and Regional Forecast, 2019-2026
Smart Electric Meter Market Size, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading), By Application (Residential, Industrial, Commercial, and Others), and Regional Forecast, 2019-2026.
Circuit Breaker Market Size, Share & Industry Analysis, By Voltage (Low Voltage, Medium Voltage, and High Voltage), By End User (Residential, Commercial, Industrial, and Utility), By Installation (Indoor and Outdoor), By Rated Voltage (Upto 500V, 500V-1kV, 1kV-15kV, 15kV-50kV, 50kV-70kV, 70kV-150kV, 150kV-300kV, 300kV-600kV, 600kV-800kV, and Above 800kV), and Regional Forecast, 2019-2026
About us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs