According to the latest report on the world's second-market research company MarketsandMarkets, the global media voltage cable market is expected to rise from 35.2 billion US dollars (about 224.55 billion yuan) to 48.8 billion US dollars (about 30.195 billion yuan) from 2020, The compound annual growth rate is 6.8%.
2020 global media voltage cable market will exceed 301.5 billion
According to the latest report on the world's second-market research company MarketsandMarkets, the global media voltage cable market is expected to rise from 35.2 billion US dollars (about 224.55 billion yuan) to 48.8 billion US dollars (about 30.195 billion yuan) from 2020, The compound annual growth rate is 6.8%.
The growth of growth is popular for renewable energy and power-driven global demand for media voltage cables. Media voltage cables/lines can be installed high, underground and under water. Overhead lines require accessories and involve underground cables, and underwater line requirements vary. Cable coupling and termination are the main accessories for underground and submarine cable systems.
The growth in developing countries has mainly led to the growth of the global media voltage cable market, which is popular for electricity, and rapid industrialization & urbanization. Utilities, oil and gas, and renewable energy are market needs that are important to the end-user industry for media voltage cables.
The main areas covered in this report are North America, Latin America, Asia Pacific, Europe, Middle East and Africa. According to the end user category, the media voltage cable market was further analyzed. Media voltage cable market participants include professional Italian Prysmian, universal cable, Nexans France, Germany nkt cable, Japan's Sumitomo Electric, Dubai Cable, Belgian Eupen Cable, AG LEONI Germany, South Korea, LS Cable System Southern Cable, US TPC Wire transfer and cable. The main market development methods adopted by the main players signed the contract, the agreement and accelerated the expansion.
Asia Pacific: Media voltages tie the dominant global market
In 2014, the Asia Pacific region controlled the media voltage cable market, followed by Europe and North America. In Asia Pacific China, the main driving media voltage cable market, Japan, India and Australia and other countries (regions). These countries have a high demand for media voltage cables. Renewable energy domains and increased transmission, and distribution infrastructure in the Asia Pacific region are important drivers for this market. In 2014, China accounted for 60% of the Asia-Pacific market.
Underground media voltage cable: maximum market configuration
Reducing transmission losses from underground media voltages and reducing cable maintenance costs is dominant in the entire media voltage cable market. Underground media voltages are placed under the surface, in production and by avoiding direct contact with the soil. These cables do not scatter the field, and the magnetic field is emitted less than the overhead line.
2015-2020, underwater media voltage cables are expected to increase with a compound annual growth rate of 6.3%, which is because they are connected to the oil and gas platform and the domestic grid is very important.
Industry end users: The largest end user market
Industry demand for media voltages tied 2015 demanded $17.5 billion (approximately 111.38 billion yuan), and is expected to increase to $24.2 billion (approximately 154.02 billion yuan) in 2020. Because most of this current industry depends on the uninterrupted power of the cable, the domain is a good market for media voltage cable manufacturers.
Industries generally include utilities, construction and manufacturing, mining, oil and gas, automotive and industrial pharmaceuticals. In 2014, the utility and oil and gas industries occupied the entire media voltage cable market, approaching 45%. Since 2015, oil and gas activities, the media voltage cable market may refuse, but with the stability of oil prices, this market will grow.