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Research And Markets, an international market research institution, recently released a global high-voltage cable report that from 2018 to 2022, the annual compound growth rate of the global high-voltage cable market will reach 7.
13%.
According to the report, the rapid development of global renewable energy and increased investment in the renovation and expansion of existing power infrastructure are the main reasons for promoting the stable and rapid growth of the
global high-voltage cable market.
The market demand for HVDC cables will increase rapidly during the forecast period, mainly due to the increase in renewable energy generation requiring more efficient grid-connected infrastructure
.
However, the report also points out that cable laying and maintenance is a major challenge
for the development of this market, whether it is a terrestrial high-voltage cable or a submarine cable.
On the other hand, the high application cost of high-voltage cables is also a major constraint
.
From the perspective of enterprises, Prysmian, Nexans, Sumitomo Electric, General Cable (acquired by Prysmian), Avet Cable (acquired ABB high-voltage cable business), LS Cable, etc.
will become the world's leading high-voltage cable suppliers
.
At the same time, there has long been a cartel monopoly
in the high-voltage cable market.
In 2014, several of the above-mentioned well-known companies that manufacture high-voltage cables and Goldman Sachs Group were fined $371 million by the European Union for operating a cartel monopoly
.
But at present, global high-voltage cables, especially high-voltage submarine cables, are still controlled by a small group of companies and charge exorbitant prices
to data centers, solar and wind farms, and other high-tech companies.
Research And Markets, an international market research institution, recently released a global high-voltage cable report that from 2018 to 2022, the annual compound growth rate of the global high-voltage cable market will reach 7.
13%.
According to the report, the rapid development of global renewable energy and increased investment in the renovation and expansion of existing power infrastructure are the main reasons for promoting the stable and rapid growth of the
global high-voltage cable market.
The market demand for HVDC cables will increase rapidly during the forecast period, mainly due to the increase in renewable energy generation requiring more efficient grid-connected infrastructure
.
However, the report also points out that cable laying and maintenance is a major challenge
for the development of this market, whether it is a terrestrial high-voltage cable or a submarine cable.
On the other hand, the high application cost of high-voltage cables is also a major constraint
.
From the perspective of enterprises, Prysmian, Nexans, Sumitomo Electric, General Cable (acquired by Prysmian), Avet Cable (acquired ABB high-voltage cable business), LS Cable, etc.
will become the world's leading high-voltage cable suppliers
.
At the same time, there has long been a cartel monopoly
in the high-voltage cable market.
In 2014, several of the above-mentioned well-known companies that manufacture high-voltage cables and Goldman Sachs Group were fined $371 million by the European Union for operating a cartel monopoly
.
But at present, global high-voltage cables, especially high-voltage submarine cables, are still controlled by a small group of companies and charge exorbitant prices
to data centers, solar and wind farms, and other high-tech companies.
