Asia Pacific MV and HV Underground Cables and Accessories Market Share, Latest Industry Trends, Statistics, Competition Strategies and Latest Industry Share by 2027

(The Express Wire via Comtex)

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 and COVID-19 Impact Analysis, By Type (Cable Type {Medium Voltage [1kV15kV, 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 and 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 and 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 and 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 and 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)

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Restraining Factor

Contracting Energy Demand in Asia Pacific amid COVID-19 to Impede Market Growth

The Asia MV and HV underground cables and accessories market growth has hit a roadblock as the COVID-19 pandemic has triggered a precipitous decline in the demand for energy in major Asian economies. Implementing strict lockdown measures at the beginning of the year, China experienced an unprecedented demand contraction of 6.5% in the first quarter of 2020, according to the International Energy Agency. Similarly, in Japan and South Korea, electricity demand dropped between 2.5% and 4.5% during the same period. In India, peak power demand in August slumped to 5.65%, despite partial easing of lockdown measures. Such sharp reduction in power demand has led to the inevitable delaying of planned energy projects and investments in Asia Pacific, which in turn will impede the growth of this market. China, for instance, announced in June 2020 that it will be putting its energy efficiency targets on hold because of the coronavirus.

Table Of ContentAsia Pacific MV and HV Underground Cables and Accessories Market

1 Introduction

1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions

2 Executive Summary

3 Market Dynamics

3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities

4 Key Insights

4.1. Key Emerging Trends For Major Countries
4.2. Latest Technological Advancement
4.3. Insights on Regulatory Scenario
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis

5 Qualitative Analysis Impact of COVID-19

5.1. Impact of COVID-19 on the MV and HV Underground Cables and Accessories Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments by the Industry Players in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak

6 Asia Pacific MV and HV Underground Cables and Accessories Market Analysis (USD Billion), Insights and Forecast, 2016-2027

6.1. Key Findings / Summary

6.2. Market Analysis, Insights and Forecast By Type

6.2.1. Cable Type
6.2.1.1. Medium Voltage
6.2.1.1.1. 1kV 15kV
6.2.1.1.2. 15kV 36kV
6.2.1.1.3. 36kV 69kV
6.2.1.2. High Voltage
6.2.1.2.1. 69kV 230kV
6.2.1.2.2. 230kV 500kV
6.2.1.2.3. Above 500kV
6.2.2. Accessories Type
6.2.2.1. Cable Joints
6.2.2.2. Terminators
6.2.2.3. Connectors
6.2.2.4. Clamps
6.2.2.5. Others

6.3. Asia Pacific MV and HV underground cables and accessories market Analysis, Insights and Forecast By End-User

6.3.1. Utility
6.3.2. Oil and Gas
6.3.3. Mining
6.3.4. Renewables
6.3.5. Transportation
6.3.6. Others

6.4. Asia Pacific MV and HV underground cables and accessories market Analysis, Insights and Forecast By Country

6.4.1. China
6.4.2. India
6.4.3. Japan
6.4.4. Australia
6.4.5. Indonesia
6.4.6. Thailand
6.4.7. Malaysia
6.4.8. Singapore
6.4.9. Philippines
6.4.10. South Korea
6.4.11. Vietnam
6.4.12. Rest of Asia Pacific

TOC COntinued...!

Competitive Landscape

Introduction of Digital Power Solutions by Key Players to Energize the Market

One of the leading trends in the competitive landscape of this Asia Pacific MV and HV underground cables and accessories market is the development and launch of power solutions driven by digital technologies. The intent behind the introduction of these new-age solutions is to facilitate the transition of energy systems towards smart energy management, which also enables key players to diversify their portfolios and expand their market footprint.

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Industry Developments:

  • August 2020: Prysmian Australia rolled out the first Voltserver System in Australia, which delivers a novel form of digital distribution, enabling the deployment of multiuse technology across long distances. The system also allows the cable that transmits the equipment’s power can to be installed within the telecommunication duct.
  • July 2020: Taihan Electric Wire inked a deal with the UK’s National Grid to supply underground cables and accessories for the London Power Tunnels project. The contract has an estimated worth of 92.5 billion Korean Won and is the largest power grid project awarded to a Korean cable manufacturer.

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