Major players in Europe’s HVAC cable market 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, Del., June 1, 2022 (GLOBE NEWSWIRE) —
The size of the European HVAC cables market is expected to register a valuation of USD 1 billion by 2030, According to the most recent study by Global Market Insights Inc.
Ongoing urbanization and population growth coupled with accelerating spending on power grid development will accelerate business prospects. Furthermore, the rapid increase in energy consumption coupled with a shifting focus towards energy efficient technologies will drive the expansion of the industry. Furthermore, cost-effective and customized turnkey solutions, including submarine and terrestrial cable system, will drive the business scene.
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The robust expansion of offshore oil and gas platforms coupled with the increasing tilt towards renewable energy infrastructure development will fuel the growth of the subsea HVAC cable industry. The continuous deployment of offshore wind farms coupled with government initiatives to integrate an energy efficient environment have instilled a favorable market scenario. Furthermore, ongoing public and private investments, followed by favorable government regulations to integrate energy efficient networks, will influence the progression of the market. Additionally, the rise of intra-regional interconnectors followed by increased energy imports and exports across the region will drive demand for HVAC cables.
> 220 kV capacity The European market for HVAC cables is expected to grow due to its high applicability in the large-scale industrial sector, oil and gas platforms and the offshore wind farm sector. Low installation and maintenance cost along with improved conductor capacity and durability are some of the main parameters that will strengthen the product landscape. Furthermore, the ongoing renewal and replacement of conventional power grids in line with the expansion of smart grid infrastructure will drive market revenue.
COVID-19 has impacted Europe’s overall HVAC cable market in an unprecedented manner as the pandemic resulted in lockdowns being imposed by government authorities, delays in project commissioning time, shortage of labor and disruptions in supply chain networks. However, favorable government measures, including social distancing, the introduction of various vaccination campaigns to reduce the number of affected patients, have brought industry operations back to normal. In addition, the increase in electricity demand together with the increase in energy imports and exports throughout the region will increase the expansion of the market.
The German HVAC cable market is expected to experience significant growth due to rising energy demand coupled with increased investments in intra-regional power networks. The evolution of smart technologies along with the integration of advanced offshore technologies and control systems will further the industry stage.
Favorable government policies coupled with better trade relations between European nations will positively influence the supply of energy from one nation to another. In addition, the paradigm shift towards affordable and cost-effective electricity supply for consumers will result in increased energy trading.
Some eminent players operating in the Europe HVAC cable 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 Deals among others.
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Some Key Findings from the Europe HVAC Cable Market Report Include:
The demand for HVAC cables is increasing due to the expansion and development of the smart grid along with the increasing demand for electricity throughout the region.
Government regulations and standards favorable towards the renovation and modernization of existing power transmission networks, coupled with the growing concern for a safe, secure and reliable power grid network, will escalate the industry landscape.
Ongoing technology improvements to minimize installation and maintenance costs, followed by fall loss reduction and product life cycle improvement, will proliferate in the commercial landscape.
Index (ToC) of the report
Chapter 2 Europe HVAC Cables Market Outlook
2.1 Analysis of the industry ecosystem
2.2 Landscape of innovation and technology
2.2.1 Prismian Group
2.2.2 Sumitomo Electric Industries, Ltd.
2.3 Regulatory landscape
2.4 Impact of COVID-19 on industry outlook
2.5 Industry Impact Forces
2.5.1 Growth engines
220.127.116.11 Expansion of smart grids
18.104.22.168 Renovation and modernization of the existing network infrastructure
22.214.171.124 Integration of the interregional and intraregional transmission network
126.96.36.199 Increased deployment of offshore wind farms
2.5.2 Industry hazards and challenges
188.8.131.52 High dependence on imports
2.6 HVAC cables in Europe, project overview
2.7 Growth potential analysis
2.8 Porter analysis
2.9 Competitive Landscape, 2022
2.10 PESTEL Analysis
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/europe-hvac-cables-market
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