(MENAFN - iCrowdNewsWire) Power Transmission Cables are typically used to carry the electricity from generating units to the end users. Rising inclusion of renewable power resources, high quality and uninterrupted electricity, up gradation of aging grid infrastructure result in the growth of the power transmission cables market. Rapid urbanization and industrialization are the major factors in the Global Power Transmission Cables Market. As per the study conducted by Market Research Future, the global market for Power Transmission Cables is likely to grow at the CAGR of around 6.5%.
A power cable is a protected strand of wires that are shoved together to carry electricity at altered voltage levels. Power cables are primarily used for overhead lines and underground cabling applications and can be broadly classified into two categories based on their operating voltage applications. The prospects for growth in this market will be encouraged by the rising demand for high-temperature, superconducting cables from the power utility sector. A superconducting high-power transmission and distribution cable is proficient of transmitting and distributing about 5-10 times the electrical current carried by a conventional copper or aluminium cable. The ability of such cables to bolster the efficiency and to act as a medium for electricity transmission and distribution with voltage levels ranging from 60 to 765 kV for transmission and 5 to 46 kV for distribution.
Bulk transmission of electricity with tiniest line losses has always been precarious issue. High capacity transmission lines & towers play a vital role in expediting such issues. Advent of green energy revolution has significantly raised the global funding across the power transmission towers market. Adoption of HVDC and UHVDC systems over conventional HVAC systems will further impact the business outlook over the forecast timeframe.
General Cable Technologies Corp., Southwire Co. LLC, Zhejiang Shengda Steel Tower Co. Ltd., KEC International Ltd., Kalpataru Power Transmission Ltd., Nexans S.A., Prysmian S.p.A., Shandong DingChang Tower Co. Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., and Sumitomo Electric Industries Ltd. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Power Transmission Cables Market.
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The scope of Global Power Transmission Cables Market is segmented into two major segments which are explained below:
- By Installation
- By Voltage
- By Users
Power Transmission Cables Global Market – Competitive Analysis
The global market for power transmission cables seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R & D and, most of all, in acquiring other firms.
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In December, 2017 Prysmian Group, world leader in the energy and telecom cables and systems industry, has been awarded a contract worth more than €150 million by the Filipino grid operating company NGCP (National Grid Corporation of the Philippines) for the design, supply, installation and commissioning of two submarine power cable connections between the islands of Cebu and Negros in the Philippines.
In December , 2017 Prysmian Group, world leader in the energy and telecom cable systems industry, has been awarded a new contract worth in the region of €80 million by EWA (Electricity and Water Authority of the Government of the Kingdom of Bahrain) to develop a new 400 kV cable loop circuit. As part of EWA’s strategic 400 kV Transmission Development programme (2009 2013), this project adds a crucial link to the infrastructure of the Kingdom of Bahrain and is the first 400 kV XLPE submarine cable to be installed in the GCC (Gulf Cooperation Council) Region.
In December, 2017 Prysmian Group and General Cable Corporation announced that they have entered into a definitive merger agreement under which Prysmian will acquire General Cable for USD 30.00 per share in cash.
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See Campaign: https://www.marketresearchfuture.com/reports/power-transmission-cables-market-1768
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