2018-2022 annual increase rate of global high voltage cable

2018-2022 annual increase rate of global high voltage cable

high voltage cable

Research and Markets, an international market research organization, has released a global high-voltage cable report a few days ago that 2018-2022, the global high-voltage cable market compound annual growth rate will reach 7.13%.

The report stated that the rapid development of global renewable energy and the increase in investment in the expansion and expansion of existing power infrastructure 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. This is mainly due to the need for more efficient grid-connected infrastructure due to the increase in the generation of renewable energy.

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

From the point of view of the company, Prysmian, Nexans, Sumitomo Electric, Universal Cable (acquired by Prysmian), Nkate Cable (acquisition of ABB high-voltage cable business), LS cable, etc. will become the world's leading high-voltage cable supplier. Business.

At the same time, the cartel monopoly has long existed in the high-voltage cable market. In 2014, the above-mentioned companies that made famous high voltage cables and the U.S. investment bank Goldman Sachs Group were fined 371 million U.S. dollars by the European Union for monopolizing the operation of the cartel.

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 power stations and other high-tech companies.