Europe HVAC Cables Industry is poised register over 17% CAGR between 2020 and 2026, impelled by integration of inter-regional transmission networks along with refurbishment & replacement of conventional electricity network.
Selbyville, Delaware, July 07, 2020 (GLOBE NEWSWIRE) —
The Europe HVAC Cables Market is projected to cross USD 600 million by 2026, as reported in the latest study by Global Market Insights, Inc. Cost efficient, dynamic and tailored turnkey solutions across onshore and subsea cable system will boost the business scenario.
Ongoing deployment of offshore wind farms along with government initiatives to integrate an energy efficient environment have infused a favorable business scenario. Continues expansion of offshore oil & gas platforms along with growing inclination toward development of renewable energy infrastructure will further propel the submarine HVAC cables market. Rising intra-regional interconnectors owing to the increasing energy imports and exports will fuel the business outlook.
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> 440 kV voltage HVAC cables industry is anticipated to grow on account of its applicability across large scale industries, oil & gas platforms and offshore wind farms. Low installation and maintenance cost along with improved conductor durability are the major factors strengthening the product demand. In addition, ongoing refurbishment & replacement of conventional power networks in line with development of smart grid infrastructure will boost the industry statistics.
Some key finding of Europe HVAC cables market report includes:
- Demand for HVAC cables are rising on account of expansion of smart grid expansion along with adoption of sustainable energy infrastructure across the region.
- Favorable government norms toward refurbishment and revamping of existing transmission networks will drive the industry scenario.
- Ongoing technological enhancements to minimize installation and maintenance cost followed by reduced sagging losses and improved product lifecycle will positively influence the industry potential.
- Some eminent players operating across Europe HVAC cables market includes ABB, Nexans, Prysmian Group, NKT and others.
- Growing concerns toward safe, secure and reliable electrical grid network region will further drive the product deployment.
Browse key industry insights spread across 170 pages with 154 market data tables & 24 figures & charts from the report, “Europe HVAC Cables Market Analysis By Installation (Overhead, Submarine, Underground), Voltage (< 110 kV, 110 kV – 220 kV, 220 kV – 440 kV, > 440 kV), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Europe HVAC cables market is projected to witness a significant impetus on account of rising energy demand along with increasing investments toward the adoption of inter-regional power networks. Integration of advanced offshore technologies and control systems coupled with rising smart grid initiated by respective regulatory authorities have instituted a favourable business outlook. Positive government policies coupled with improved trade relations among the European countries will further augment the industry growth. In addition, paradigm shift toward affordable and cost-effective electricity for consumers will result in increased power trading within the region.
Growing power generation capability along with rise in electrification programs including T&D activities have propelled the Europe HVAC cables market. The continuous upgradation of technology to enhance efficiency, operational feasibility along with improved grid security will further positively sway the submarine cables industry. Furthermore, leading manufacturers across the region through extensive R&D investments and inorganic strategic implications have been strengthening their industry presence.
Toc of this report @ https://www.gminsights.com/toc/detail/europe-hvac-cables-market
Browse Related Reports:
North America HVAC Cables Industry By Voltage (< 110 kV, 110 kV – 220 kV, 220 kV – 440 kV, > 440 kV), By Installation (Overhead, Submarine, Underground), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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