Research Nester has released a report titled “DC Electric Cable Market – Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The U.S. Energy Information (EIA), in one of its statistics stated that electricity transmission and distribution losses as a percentage reached to 5.12% in the year 2017 from 4.67% in the year 2015.
Many power transmission and distribution companies are increasingly facing losses in the commissioning of T&D by electric cables. Repeated challenges observed in reducing the transmission loss and with the advancement in technology of electric cables, T&D companies are increasingly shifting their focus towards the deployment of HVDC cables which are known to provide numerous benefits, such as, lower transmission loss, greater efficiency, lower investment costs, low reaction at interconnector points and others.
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Moreover, rising concern for power loss in solar panels occurred due to fluctuating temperature and vulnerable operating conditions is raising the demand for the deployment of DC solar cables which are known to provide greater efficiency in power transmission from solar panels to the solar charge controller and are equipped with higher operating temperature along with better UV and ozone resistance along with improved weather resistance in adverse conditions. Such factors are anticipated to drive the growth of the global DC electric cable market.
The global DC electric cable market is anticipated to record a robust CAGR during the forecast period, i.e. 2020-2028. The market is segmented by end user into utilities & power grids, IT & telecom, automotive & transportation, electronics and others. Among these segments, utilities & power grids segment is anticipated to hold the largest market share on account of rising trend of smart grid electricity distribution systems, rising need for DC cables in the deployment of solar panels, rising production of electric automobiles and rising demand for cost efficient electric distribution systems. International Energy Association (IEA), in one of its statistics stated that electric car deployment in the world reached to 3.29 million in the year 2018 from 0.23 million in the year 2013.
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Geographically, the global DC electric cable market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Asia Pacific is anticipated to hold the largest market share owing to proliferating investments for renewable energy sources which is fueling up the demand for the deployment of HVDC cables in T&D and for solar cables in the deployment of solar panels. International Renewable Energy Agency (IRENA), in one of its statistics stated that investments for renewable energy in Asia and Oceania reached to USD 150 billion in the year 2018 from USD 81.6 billion in the year 2011.
However, concerns for lack of awareness of DC electric cables amongst consumers is estimated to act as a barrier to the growth of the global DC electric cable market.
This report also studies existing competitive scenario of some of the key players of the global DC electric cable market, which includes profiling of ABB Ltd. (SWX: ABBN), Sumitomo Electric Industries, Ltd. (TYO: 5802), KEI Industries Limited (NSE: KEI), Prysmian Group (BIT: PRY), Nexans (EPA: NEX), Qingdao Hanhe Cable Co. Ltd. (SHE: 002498), Polycab (NSE: POLYCAB), Jiangnan Group Limited (HKG: 1366), Hengtong Group, and LS Cable & System Ltd. (KRX: 006260).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “DC Electric Cable Market – Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall global DC electric cable industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global DC electric cable market in the near future.
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