High voltage cables market is likely to witness a healthy CAGR of 3.1% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on High voltage cables market
High voltage cables market is likely to witness a healthy CAGR of 3.1% during the forecast period. The growing demand for high voltage cables is mainly due to rapid commercialization and rising population leading to increased energy consumption.
North America is estimated to be the largest, whereas Asia-Pacific is likely to be the fastest-growing high voltage cables market during the forecast period. The U.S. Government proposed to invest US$ 10 billion to develop new transmission networks to decrease the curtailment rate. China and India are the key countries of the Asia-Pacific region offering lucrative growth opportunities over the forecast period.
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Report Scope & Market Segmentation
High Voltage Cables Market Share: By Voltage Type
Based on the voltage type, the market is segmented as 50 kV – 110 kV, 115 kV – 330 kV and > 330 kV. The 50 kV – 110 kV segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Retrofitting of small-scale industries and large-scale commercial expansion across developing countries has led to dominance of the segment.
High Voltage Cables Market Share: By Application Type
Based on the application type, the high voltage cables market is segmented as utility and industrial. The utility segment leads the market owing to growth in population giving rise to increasing consumption of energy, is a major reason for dominance of this segment.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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