Major European HVAC cable market players include Prysmian Group, Power Plus Cable, Elsewedy Electric, Ducab, Sumitomo Electric, alfanar Group, NKT A/S, ZTT, Hellenic Cables Group, Nexans, Brugg Cables, TF Kable, Furukawa Electric and others.
Selbyville, Delaware, June 1, 2022 (Global News) —
The European HVAC cable market size is expected to reach USD 1 billion by 2030, According to the latest research from Global Market Insights Inc.
Continued urbanization and growing population along with accelerated spending to develop electricity networks will accelerate the business outlook. Furthermore, rapidly increasing energy consumption and focus on energy-efficient technologies will stimulate industry expansion. In addition, cost-effective and tailored turnkey solutions including onshore and subsea cable systems will drive the business scenario.
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The strong expansion of offshore oil and gas platforms and the development trend of renewable energy infrastructure will propel the growth of the subsea HVAC cable industry. Continued deployment of offshore wind farms and government initiatives to consolidate energy-efficient environments have injected favorable prospects for the market. Furthermore, ongoing public and private investments and favorable government regulations to integrate energy-efficient networks will influence market development. Furthermore, the increase in interconnectors within the district and the increase in import and export of energy throughout the district will drive the demand for HVAC cables.
> 220 kV capacity European HVAC cables market is expected to grow due to its high applicability in the large industrial sector, oil and gas platforms and offshore wind farm sectors. Lower installation and maintenance costs and improved conductor capacity and durability are some of the main parameters enhancing the product outlook. Furthermore, with the expansion of smart grid infrastructure, continuous renovation and replacement of traditional grids will increase market revenue.
COVID-19 has impacted the entire European HVAC cable market in an unprecedented manner, as the pandemic has led to lockdowns imposed by regulatory authorities, delays in project commissioning times, labor shortages, and disruptions to supply chain networks. However, favorable government measures, including social distancing and the launch of multiple vaccination campaigns to reduce the number of affected patients, have led to a return to normal industry operations. In addition, increasing demand for electricity coupled with rising energy imports and exports in the region will facilitate market expansion.
The German HVAC cable market is expected to witness significant growth on account of rising energy demand and increased investment in regional electricity networks. The development of smart technologies and the integration of advanced offshore technologies and control systems will boost the industry.
Favorable government policies coupled with improved trade relations between European countries will have a positive impact on electricity supply between countries. Furthermore, the paradigm shift in providing affordable and cost-effective electricity to consumers will further lead to an increase in electricity trading.
Some of the well-known players operating in the European HVAC Cables Market include Prysmian Group, Elsewedy Electric, Ducab, Power Plus Cable, Sumitomo Electric, Nexans, Brugg Cables, alfanar Group, NKT A/S, ZTT, Hellenic Cables Group, Furukawa Electric, TF Kable and Tratos et al.
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Some of the key findings of the European HVAC Cables Market report include:
The demand for HVAC cables is on the rise due to the expansion and development of smart grids and the growing electricity demand across the region.
Favorable government norms and standards for retrofitting and retrofitting existing transmission energy networks, as well as a growing focus on safe, reliable and reliable grid networks, will upgrade the industry landscape.
Ongoing technological improvements to minimize installation and maintenance costs, then reduce sag losses and improve product life cycles, will expand the business landscape.
Table of Contents of Reports (ToC)
Chapter 2 Europe HVAC Cable Market Insights
2.1 Industry Ecosystem Analysis
2.2 Innovative technology landscape
2.2.1 Prysmian Group
2.2.2 Sumitomo Electric Industries, Ltd.
2.3 Regulatory environment
2.4 Impact of COVID-19 on Industry Outlook
2.5 Industry influence
2.5.1 Growth drivers
220.127.116.11 Expansion of Smart Grid Networks
18.104.22.168 Refurbishment of existing grid infrastructure
22.214.171.124 Cross-regional and cross-regional power transmission network integration
126.96.36.199 Increase the deployment of offshore wind farms
2.5.2 Industry Traps and Challenges
188.8.131.52 High dependence on imports
2.6 European HVAC Cable and Project Pattern
2.7 Analysis of Growth Potential
2.8 Porter Analysis
2.9 Competitive Landscape, 2022
2.10 PESTEL Analysis
Browse the full table of contents (ToC) @ https://www.gminsights.com/toc/detail/europe-hvac-cables-market
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