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March 21, 2019
[Cable Network News] International Market Research Institute 360 Market Updates recently released a report that the global ultra-high voltage cable market in the 2018 market size of 1.91 billion US dollars, is expected to reach 2.91 billion US dollars by 2025, the compound annual growth in the forecast period The rate is 5.4%.
The report covers important types of UHV cable products including: 230-320KV; 320-550KV; 550-1000KV. Important applications include overhead conductors, submarine cables and terrestrial cables.
The report believes that in the next few years, the demand for ultra-high voltage cables in Europe and the United States is increasing, and it is expected to drive the market demand for more advanced ultra-high voltage cables. At the same time, with the increase in spending in the power industry, competition is fiercer, infrastructure spending is increasing, and old technologies are being modified, thereby stimulating the application of ultra-high voltage cables in the Asia-Pacific region and driving demand growth in the global market.
On a global scale, the market for ultra-high voltage cable industry is less concentrated because the manufacturing technology of ultra-high voltage cables is relatively mature compared to some high-tech equipment. Some companies, such as Prysmian (General Cable), Nexans, General Cable, SEI and Southwire, are known for their outstanding performance in ultra-high voltage cables and related services.
The consumption of ultra-high voltage cables is related to the downstream industry and the global economy. The ultra-high voltage cable industry may not grow as fast as there are some uncertainties in the global economy in the next few years. But there is no doubt that the ultra-high voltage cable market is still optimistic. At the same time, the Asia-Pacific region accounted for 39.13% of the sales market share in 2017, and it has performed well in the global ultra-high voltage cable industry.
From the manufacturer's point of view, the world's top manufacturers such as Prysmian, Nexans, Furukawa Electric, Nkt Cable, LS cable will continue to maintain its leading position in the world's major ultra-high voltage cable manufacturers. In terms of regions, China's Far East Cable, Qingdao Hanhe, Jiangnan Cable, Riyadh Cable in the Middle East and TF Cable Company in the United States will become the leading manufacturers of ultra-high voltage cables in their respective regions.
(This article is the first cable network www.cableabc.com reproduced.)