2018-2022 global high-voltage cable annual compound growth rate of 7.13%

release time:2019-09-10 13:46

author:Huahai Cable


International market research institute Research And Markets recently released a report on global high-voltage cable. In 2018-2022, the global high-voltage cable market will grow at a compound annual growth rate of 7.13%.

According to the report, the rapid development of global renewable energy and the increase in investment in existing power infrastructure expansion and expansion are the main reasons for the steady and rapid growth of the global high-voltage cable market.

        During the forecast period, the market demand for high-voltage DC cables will increase rapidly, mainly because the increase in renewable energy generation requires more efficient grid-connected infrastructure.

        However, the report also pointed out that whether it is land high voltage cable or submarine cable, cable laying and maintenance is the main challenge facing the development of this market. On the other hand, the high cost of high-voltage cable applications is also a major constraint.

        From the perspective of enterprises, Prysmian, Nexans, Sumitomo Electric, General Cable, Ankaite Cable, LS Cable, etc. will become the world's leading suppliers of high voltage cables.

At the same time, the high-voltage cable market has long had a cartel monopoly. In 2014, many of the well-known high-voltage cable companies and the US investment bank Goldman Sachs were fined $371 million by the European Union for operating the cartel monopoly.

        However, according to industry sources, at present, global high-voltage cables, especially high-voltage submarine cables, are still controlled by a small number of companies, and charge high prices to data centers, solar and wind farms and other high-tech companies.