High-voltage underground cables are a crucial part of today's electrical networks since they carry power below the surface of the ground. Depending on the application, these cables can sustain high voltages of thousands to hundreds of thousands of volts because they are made of specialist materials. Underground power lines are more reliable than overhead ones because they are shielded from weather-related factors like wind and ice. They also have a less noticeable visual impact and electromagnetic interference is decreased.
Asia Pacific Underground High Voltage Cable Market Driving Factors and Challenges
Drivers: Numerous important factors are driving the underground high voltage cable market's growth. primarily the need for dependable and effective infrastructure for the transmission of power is being driven by growing urbanization and industrialization. In crowded cities where overhead lines might not be practical or desired, underground cables provide an alternative to the space constraints and aesthetic considerations. Second, because of land use and environmental concerns, the emphasis on renewable energy sources like solar and wind power requires the extension of transmission networks to link distant generation locations to metropolitan areas. Typically, this involves subterranean cables.
Challenges: The market for high-voltage underground cables has numerous obstacles that could prevent it from growing. One of the main challenges is the initial cost of constructing subterranean cable, which is more than that of ordinary overhead lines. Subterranean cables are less economically viable when it comes to long-distance transmission projects because of the increased initial capital costs associated with trenching, excavation, and specialized equipment. Moreover, practical challenges result from the complexity of subsurface cable installation and maintenance, particularly in densely populated areas with developed infrastructure.
Impact of COVID-19 on Asia Pacific Underground High Voltage Cable Market
The COVID-19 pandemic had a significant impact on the Asia Pacific underground high voltage cable business, leading to disruptions in supply chains, delays in projects, and a decline in demand. During the early phases of the pandemic, rigorous travel bans and lockdown procedures hindered construction operations and delayed infrastructure and subsurface cable installations. Shortages of raw materials and components resulting from supply chain disruptions including factory closures and logistical challenges further delayed project timelines and raised costs.
Asia Pacific Underground High Voltage Cable Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Prysmian Group, Nexans S.A, LS Cable & Systems Ltd., General Cable Corporation, Sumitomo Electric Industries, Ltd., Taihan Electric Wire Co, Ltd., Southwire Company, LLC, Fujikura Ltd., KEI Industries Limited, Gupta Power Infrastructure Ltd., Others.
Asia Pacific Underground High Voltage Cable Market Segmentation:
By Voltage: Based on the Voltage, Asia Pacific Underground High Voltage Cable Market is segmented as; <110 kV, 110 kV-220 kV, >220 kV.
By Current: Based on the Current, Asia Pacific Underground High Voltage Cable Market is segmented as; HVAC, HVDC.
By Region: This research also includes data for Eastern, Western, Northern, Southern.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.