The Asia Pacific MV and HV underground cables and accessories market size is projected to reach USD 7.73 billion by 2027, exhibiting a CAGR of 7.7% during the forecast period. Increasing investments in renewables in Asia Pacific will play a key role in fueling the growth of this market, shares Fortune Business Insights™ in its report, titled “Asia Pacific MV and HV Underground Cables and Accessories Market Size, Share & COVID-19 Impact Analysis, By Type (Cable Type {Medium Voltage [1kV–15kV, 15kV-36kV, 36kV-69kV] and High Voltage [69kV-230kV, 230kV-500kV, Above 500kV]} and Accessories Type {Cable Joints, Terminators, Connectors, Clamps, and Others}) By End-User (Utility, Oil & Gas, Mining, Renewables, Transportation, and Others), and Country Forecast, 2020-2027”.
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Economic powerhouses in the Asia-Pacific region are pumping large sums of money towards building their renewables infrastructures and establishing clean energy systems. For example, according to the Institution of Energy Economies and Financial Analysis, India aims at investing USD 500 billion to create renewable energy generation capacity in the country by 2028. China, too, is accelerating its transition to renewables. A report by the International Renewable Energy Agency (IRENA) stated that the share of renewables in China’s energy mix will reach 16% by 2030, under the country’s current investment patterns and policies. Efficient medium voltage (MV) and high voltage (HV) underground cables and accessories will be required to transmit energy generated by renewables in these mammoth countries, especially in their remote regions and villages. Thus, expanding share of renewables in Asia Pacific will benefit this Asia Pacific MV and HV underground cables and accessories market over the next few decades.
As per the report, the Asia Pacific MV and HV underground cables and accessories market value stood at USD 4.40 billion in 2019. The main highlights of the report include:
- Cutting-edge research into the industry trends and outlook;
- Unrivalled analysis of the market drivers and restraints;
- Microscopic study of each and every market segment; and
- Exhaustive examination of the regional and competitive dynamics influencing the market.
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Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Asia Pacific MV and HV underground cables and accessories market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the Asia Pacific MV and HV underground cables and accessories market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the Asia Pacific MV and HV underground cables and accessories market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Asia Pacific MV and HV underground cables and accessories market
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List of Key Companies Profiled in the Asia Pacific MV and HV Underground Cables and Accessories Market Report:
- LS Cable & System (South Korea)
- IL JIN Electric (South Korea)
- Power Flex Cables (Australia)
- Bhuwal Insulation Cable Pvt. Ltd (India)
- Gloster Cables Limited. (India)
- Jiangnan Group Limited. (China)
- ZTT (China)
- Keystone Cable (S) Pte Ltd (Singapore)
- Charoong Thai Wire & Cable PLC. (Thailand)
- Prysmian Group (Italy)
- Sarawak Cable Berhad (Malaysia)
- DNF CABLE SDN BHD (DNF) (Malaysia)
- Sumitomo Electric Industries, Ltd. (Japan)
- PT Supreme Cable Manufacturing and Commerce Tbk (Indonesia)
- Taihan Electric Wire (South Korea)
- Electra Cables (Australia)
- Sterlite Power (India)
- Tratos (United Kingdom)
- FURUKAWA ELECTRIC CO., LTD. (Japan)
- Nexans (France)
- VENINE CABLE (VENINE CORPORATION) (Thailand)
- Erawan Electric Wire & Cable Co. Ltd. (Thailand)
- Tonn Cable Sdn Bhd (Malaysia)
- PT Voksel Electric Tbk (Indonesia)
- Federal Power Sdn Bhd (Malaysia)
- LS-Gaon Cable Myanmar Co. Ltd. (Myanmar)
- PT KMI Wire and Cable Tbk (Indonesia)
