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High Voltage Cable Market - Market Leader
World high voltage cable market includes global giants as well as many regional players, and related cable accessories market is more unorganized than power cables market with multiple local players across all the key countries. Some of the key players that operate globally include, ABB Ltd. (Switzerland), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Nexans (France), NKT Cables (Germany), General Cable Corporation (U.S.), Encore Wire Corporation (U.S.), Brugg Kabel AG (Switzerland), and Finolex Cables Ltd. (India).
Prysmian Group (Italy) with presence in 50 countries is one of the global market leaders for high voltage cables. Its high voltage and submarine businesses contributed to a nearly USD 2 billion which is around 19% of their total sales in 2014. The key growth strategies adopted by global players including Prysmian in this market include a higher percentage of contracts and agreements followed by facility expansions and setting up of new plants.
Prysmian tends to continue its market dominance with its ongoing and new contracts. It has announced contracts worth more than USD 1.6 Billion in 2014 for submarine projects alone. Also, its most recent contracts include a USD 880 Million worth HVDC submarine interconnector contract by Statnett SF (Norway) and National Grid NSN Link Ltd (UK) announced in August, 2015.
Prysmian has also been expanding or setting up new production facilities towards expanding its business reach; in November 2013, it has set up a new plant in Romania that produces high voltage cables as well as instrumentation and control cables which is target to triple its fiber optic cable as well as append its high voltage cable production; and in 2012, it has set up a new submarine power cables facility in Finland at an investment of around USD 51 million to scale up its high voltage cables production
ABB, has announced in 2014, the launch of its extruded HVDC cable systems with double transmission capacity at 525kV level. The company targets the large renewable installations that need bulk power to be transmitted over longer distance at lowest transmission losses. Other new product launches include specialty underwater power cable by Kerite in 2013.
High Voltage Cables Market by Type (Overhead, Underground, & Submarine), by Overhead Products (Conductors, Fittings & Fixtures), by Underground and Submarine Products (XLPE Cables, MI Cables, Cable Joints, & Cable Terminations), and by Region - Global Trends & Forecasts to 2020
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