Power Transmission and Distribution Cable Market Rising on the Back of Changing Electricity Supply Infrastructure

Power transmission and distribution cable helps in efficient movement of electricity from the location where electricity id generated to the place it is consumed. Rise in industrialization and urbanization across the globe is a prominent factor expected to propel the power transmission and distribution cable market in the coming few years.

Apart from this, there are several other factors which are expected to drive the global power transmission and distribution cable market in the coming few years. We have mentioned a few of them below, have a look-

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• Shifting trend from non-renewable source of energy to renewable is a prominent factor expected to propel the global power transmission and distribution cable market. This is because this shift would require a complete revamp of old distribution system and installation of new system. This will offer a lucrative prospect to the growth of the power transmission and distribution cable market.

• Moreover, most of the regions across the globe is choosing liberalized electricity market regulations. This will need an inevitable separation of the power distribution business from electrical transmission business, thus offering a significant boost to the growth of the power transmission and distribution cable market.

• Further, a large number of players in the power transmission and distribution cable market are focusing on the development of more efficient designs of cable systems. This is expected to pose a positive impact on the growth of the global market for power transmission and distribution (T&D) cables market.

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• For instance, in May 2016, Prysmian Group, a key player in the power transmission and distribution cable market announced that it has developed and tested a premium quality novel 7000 kV MI-PPL, along with 600 kV extruded cable system. Such development are expected to provide a lucrative opportunities for the growth of the power transmission and distribution cable market.

Power Transmission and Distribution (T&D) Cable Market to Register Steady Growth During 2017 – 2025

Global Power Transmission and Distribution (T&D) Cable Market: Snapshot

Power transmission and distribution involves the bulk movement of electricity from a site that generates electrical energy (for instance a power plant) to an electrical substation. Also known as ‘power grids’ in North America, the combined distribution and transmission network consists of local wiring connecting high-voltage substations to customers. As most of the regions now have ‘liberalized’ electricity market regulations, the inevitable separation of the power distribution business from electrical transmission business is likely to promote the growth of the global power transmission and distribution (T&D) cable market.

Several market players are providing a wide range of expertise for projects via their skilled personnel including specialist project managers, engineers, environmental consultants, and designers. The planning of consent support, route and site optioneering, grid connection support, tackling environmental constraints and understanding feasibility, and offering smart grid solutions are some major services offered by these companies. For instance, WSP Global Inc., a leading U.K.-based project management firm aiding the creation of substations and related infrastructure, helps in front-end planning, obtaining permits, suggesting power facility design, and cable selection and design.

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A number of other players are focusing on the development of more efficient designs of cable systems. This is expected to have a positive impact on the overall expansion of the global market for power transmission and distribution (T&D) cables market. For instance, in May 2016, Prysmian Group, a key supplier of innovative solutions for power grids, announced that it successfully developed and tested a novel 7000 kV MI-PPL, along with 600 kV extruded cable systems that are specially designed for high voltage direct current applications.

Global Power Transmission and Distribution (T&D) Cable Market: General Outline

The global power transmission and distribution cable market is likely to be benefited by factors such as enhanced distribution infrastructure, expanding power transmission infrastructure, growing initiatives by the governments across the globe in order to upgrade power transmission units, growing demand for power globally, and rising focus on power generation via renewable sources of energy. These factors are also anticipated to attract investments in the near future. The global market for power transmission and distribution cable is likely to grow at significant rate in the near future and is likely to be driven by the growing investment in the power generation, transmission, and distribution infrastructure developments. Power transmission and distribution is done through the underground cables or overhead transmission lines. Power T&D cable is an assemblage of one or more conductors, held collectively with a cable sheath.

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This industry research report is a brief review of the growth trail in terms of existing, past, and future scenarios of the global power transmission and distribution cable market. It deals with the evaluation of the aspects that are expected to influence the development of the market and the primary trends have also been specified in the research study. The research study also offers a broad lookout on the vendor landscape of the market through Porter’s five forces analysis. The research report offers references of the research and development activities, mergers and acquisitions, and specifics on licensing and collaborations. The report probes into the strategies related to publicity, shares, and product range of the key participants in the global power transmission and distribution cable market.

Global Power Transmission and Distribution (T&D) Cable Market: Key Trends

The global market for power transmission and distribution cable is anticipated to grow significantly during the forecast period. The primary demand for the power transmission and distribution cable is propelled by the swelling global emphasis on commercialization of power generation through renewable sources of energy. In addition, the incorporation of regional grids to form a national grid driven by the need for a seamless electricity flow across nations is anticipated to augment the demand for power transmission and distribution cables. The high cost of raw material is expected pose a threat to the growth of the global power transmission and distribution cable market. However, the growing demand for high voltage direct current (HVDC) cables and aging T&D infrastructure is anticipated to bolster the growth of the global power T&D cable market.

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Global Power Transmission and Distribution (T&D) Cable Market: Regional Analysis

In terms of growth, North America is expected to lead the global market for power transmission and distribution cable. This growth can be attributed to the increasing focus on renewable energy as a source of power generation, especially the U.S. and constant expansion in the use of high voltage direct current (HVDC) technology and superconductors. However, Asia Pacific is expected to be a key area of growth on account of lower manufacturing costs of cables accompanied by strong economic growth.

Global Power Transmission and Distribution (T&D) Cable Market: Vendor Landscape

Some of the key participants in the market are Siemens AG, Southwire Company, RPG Cables Ltd., Hitachi Cable Ltd., Nexans SA,  Havells India Limited, Coleman Cable, Inc., and ABB.

Need to Upgrade Aging T&D Infrastructure to boost Demand for Power T&D Cables

San Francisco, Aug 23, 2017: A new study by TMR Research on the market for power transmission and distribution cables states that the continuously augmenting demand for power across the world. The technological advancements in distribution infrastructure and the development in power transmission infrastructure, globally, is also supporting this market considerably.

The report, titled “Power Transmission and Distribution (T&D) Cable Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2017–2025,” presents an all-inclusive assessment of this market on the basis of the prominent trends and factors.

According to this research report, the increasing focus towards the generation of electricity by renewable sources of energy and the increasing number of initiatives by various governments across the world for the upgradation of power transmission units are likely to boost the worldwide power transmission and distribution cables market in the near future.

Going forward, the increasing investments in the development of the infrastructures related to power generation, transmission, and distribution is projected to aid to the market’s growth in the years to come. However, the volatile prices of raw materials used for the manufacturing of these cables may pose a threat to the progress of this market over the forthcoming years. Nonetheless, the augmenting need to upgrade the aging transmission and distribution infrastructure is anticipated to bolster the demand for these cables in the near future, reports the study.

On the regional basis, the worldwide power transmission and distribution cables market has been segmented into the Middle East and Africa, North America, Asia Pacific, Europe, and Latin America. With the increasing shift towards renewable energy sources for power generation, North America has emerged as the leading regional market for power transmission and distribution cables in the world.

The continual increase in the usage of superconductors and high voltage direct current (HVDC) technology is likely to boost the market for power transmission and distribution cables in North America over the next few years, ensuring its dominance over other regional markets. Asia Pacific is also anticipated to witness high growth in the near future, owing to lesser cost of manufacturing cables and strong economic growth, states the research report.

In conclusion, the report presents a competitive analysis of the business landscape of the global market for power transmission and distribution cables by reviewing the profiles of the leading players operational in this market. As per the research study, Coleman Cable Inc., Siemens AG, RPG Cables Ltd., Southwire Co., Hitachi Cable Ltd., Havells India Ltd., Nexans SA, and ABB are the key vendors of power transmission and distribution cables across the world.

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