APAC Underground High Voltage Cable Market Share, Revenue, Industry Trends, Growth Drivers, Key Players, Business Challenges, Opportunities and Future Competition Till 2033: SPER Market Research
Due to its ability to transmit power below ground, high-voltage subterranean cables play a vital role in modern electrical networks. These cables are composed of specialised materials that allow them to withstand high voltages of thousands to hundreds of thousands of volts, depending on the application. Being protected from weather-related elements like wind and ice, underground electricity cables are more dependable than those above ground. Also, there is less electromagnetic interference and a less pronounced visual impact.
According to SPER market research, ‘Asia Pacific Underground High Voltage Cable Market Size- By Voltage, By Current – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Asia Pacific Underground High Voltage Cable Market is predicted to reach USD 16.51 billion by 2033 with a CAGR of 5.13%.
Drivers: The growth of the underground high voltage cable market is being driven by several significant factors. Urbanization and industrialization are the main forces behind the growing requirement for a stable and efficient infrastructure for power transmission. Underground cables offer an alternative to the space restrictions and aesthetic concerns in densely populated areas where overhead lines might not be desirable or viable. Second, the emphasis on renewable energy sources like solar and wind power necessitates the construction of transmission networks to link remote generation locations to urban areas due to land use and environmental issues. This usually entails underground cables.
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Challenges: There are several challenges that could keep the market for high-voltage subterranean cables from expanding. The primary obstacle is the upfront cost of building subterranean cable, which is more than that of typical overhead lines. For long-distance transmission projects, underground cables are less financially feasible due to the higher initial capital expenses involved in trenching, excavation, and specialized equipment. Furthermore, the intricacy of installing and maintaining subterranean cables poses practical difficulties, especially in places with large populations and advanced infrastructure.
Asia Pacific Underground High Voltage Cable Market Key Players:
The Asia Pacific subterranean high voltage cable industry was significantly impacted by the COVID-19 pandemic, which resulted in supply chain interruptions, project delays, and a drop in demand. Strict travel restrictions and lockdown protocols hampered construction efforts and caused delays in subterranean cable and infrastructure installations in the early stages of the epidemic. Project schedules and costs were further delayed and increased by shortages of raw materials and components resulting from supply chain interruptions, manufacturing closures, and logistical difficulties.
Additionally, some of the market key players are ; ; Prysmian Group, Nexans S.A, LS Cable & Systems Ltd., General Cable Corporation, Sumitomo Electric Industries, Ltd., Taihan Electric Wire Co, Ltd., Southwire Company, LLC, Fujikura Ltd.
Asia Pacific Underground High Voltage Cable Market Segmentation:
By Voltage: Based on the Voltage, Asia Pacific Underground High Voltage Cable Market is segmented as; <110 kV, 110 kV-220 kV, >220 kV.
By Current: Based on the Current, Asia Pacific Underground High Voltage Cable Market is segmented as; HVAC, HVDC.
By Region: This research also includes data for Eastern, Western, Northern, Southern.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link: –
Asia Pacific Underground High Voltage Cable Market Size
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