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市場調查報告書
商品編碼
1386028
全球電力電纜市場:按安裝方法、電纜類型、使用材料、最終用戶和地區劃分的評估、機會和預測(2016-2030)Power Cable Market Assessment, By Installation, By Cable Type, By Material Used, By End-user, By Region, Opportunities and Forecast, 2016-2030F |
因此,在人口成長、工業成長和技術進步的推動下,全球對電力和電力的需求不斷增加。 電力傳輸電纜是高容量電力電纜,旨在長距離傳輸大量電力。 這些電纜對於促進電力從發電廠到配電網的高效傳輸至關重要。 輸電電纜在確保穩定可靠的電力供應方面發揮著至關重要的作用,為住宅、商業和工業部門提供服務,同時滿足技術進步的世界日益增長的能源需求。我是。
輸電電纜需求快速成長背後有多個因素。 全球電力需求的成長與最後一哩電氣化的努力同時發生。 此外,再生能源專案的擴展需要大量的佈線。 電網現代化工作要求更新這些電纜,而電動車和智慧城市的成長正在推動對先進電力基礎設施的需求。 除此之外,老化的電網系統需要定期改造。 因此,電纜設計的持續技術進步正在提高效率和容量。 這些因素共同推動了輸電電纜需求的成長。
本報告分析了全球電力電纜市場,提供了產品概述、市場基本結構、整體市場規模展望、按細分市場和地區劃分的詳細趨勢、市場背景和主要因素。我們正在調查影響因素、主要企業概況及市場佔有率等
為涵蓋的所有地區/國家提供每個細分市場的資訊。
上面列出的公司並非按市場份額排序,並且可能會根據研究工作中獲得的資訊進行更改。
Global power cable market was estimated to be worth USD 183.45 billion in 2022, and is expected to reach USD 284.76 billion by 2030, and is anticipated to grow at a CAGR of 5.65% between 2023 and 2030. In an age marked by electrification and digitalization, for revolutionizing the human lifestyle, a reliable and continuous power supply stands as a necessity. The need for power extends across diverse domains, encompassing residential, commercial, industrial, and transportation sectors.
Consequently, pushing the global requirement for electricity and power, driven by population expansion, industrial growth, and technological progress. Power transmission cables are high-capacity electrical cables designed for carrying large volumes of electricity over long distances. These cables are crucial in facilitating the efficient transport of electricity from generating stations to distribution networks. They play a vital role in ensuring a stable and reliable power supply, serving residential, commercial, and industrial sectors, while supporting the growing energy demands of a technologically advancing world.
Several factors propel the surging need for power transmission cables. There is a rising global appetite for electricity, coinciding with initiatives for last-mile electrification. Also, the expansion of renewable energy projects necessitates extensive cabling. Grid modernization efforts complement these mandate cable upgrades, and the growth of electric vehicles and smart cities is fueling the demand for advanced power infrastructure. Apart from it, aging grid systems require periodic refurbishment. Thus, continual technological advancements in cable design are improving efficiency and capacity. Altogether, these factors are collectively driving the increasing demand for power transmission cables.
The global demand for electricity is increasing, necessitating the expansion and rejuvenation of electrical grids. The International Energy Agency (IEA) projections show that nearly 775 million people worldwide lack access to electricity by 2022. Last-mile electrification initiatives in emerging markets are gaining prominence, necessitating the extension of power cables to connect remote areas. Aging grid infrastructures require refurbishment and upgrade power cables for seamless electricity distribution. It indicates a potential for substantial growth in the power cable market.
For instance, Prysmian Group have made significant advances on the Viking Link project, a significant submarine cable link connecting the UK and Denmark, reaching a historic milestone in February 2023. It includes the completion of land cable jointing activities. This ±525 kV DC interconnector will connect the Bicker Fen substation in Lincolnshire, United Kingdom, and the Revising substation in South Jutland, Denmark, benefitting 1.4 million households with sustainable energy, cost reduction, and enhanced system reliability, fortifying energy supply security in both countries through imports from interconnected markets.
Countries worldwide increasingly embrace environmentally responsible practices and transition from fossil fuels to renewable energy sources. Integrating these renewables into the grid necessitates a sophisticated network of power cables for efficient electricity transmission from green energy sources to end-users. Moreover, the advent of microgrids, which are smaller, localized energy systems that can operate independently or in conjunction with the main grid pushes the demand for power cables. The modernization and expansion of electrical grids to address the surging global power demand for substantial power cable installations. This is to ensure the seamless incorporation of renewable energy and microgrids, enhancing energy supply security and sustainability while meeting environmental goals. As such, the power cable market experiences significant growth, driven by the need for advanced cables to support these evolving energy infrastructures.
In May 2023, a consortium, which includes LS Cable & System Ltd. of South Korea, secured a significant contract worth USD 1.5 billion to manufacture high-voltage cables for a European grid venture connecting a North Sea wind farm to facilities in Germany and the Netherlands. As part of the agreement, the consortium will provide 525 kV high-voltage direct current (HVDC) electric power transmission cables to TenneT, with deliveries commencing in 2026.
Government regulations are crucial in the power transmission cable market, ensuring safety, quality, and performance by enforcing strict standards in design, installation, and maintenance. They simplify the selection process for consumers and promote uniformity across installations. These regulations drive innovation by imposing emission, efficiency, and environmental standards, fostering eco-friendly technologies. They address interoperability issues, enabling cables from different manufacturers to work harmoniously. In an increasingly interconnected world, these regulations are vital for maintaining the reliability, efficiency, and safety of power transmission cables.
In the United States, the National Electrical Safety Code (NESC), managed by NIST, governs safety standards for electrical equipment and the Federal Energy Regulatory Commission (FERC) regulates interstate electricity transmission, including cable-related environmental assessments. The IEEE SA updates the NESC every five years. In the European Union, the Energy Efficiency Directive (EED) enforces energy-efficient power cable use. These regulations ensure cable safety, efficiency, and environmental compliance.
The demand for underground and submarine power transmission cable is increasing due to environmental concerns and sustainability. These cables have a reduced visual impact, preserving natural landscapes and habitats, and are less susceptible to weather-induced disruptions and physical damage. They minimize electromagnetic interference, benefiting densely populated urban areas. Industries and governments are investing in these environmentally friendly cables to enhance power distribution while preserving the planet, aligning with global efforts to reduce carbon footprint and meet green energy targets.
In February 2023, Sumitomo Electric Industries, Ltd. received a limited notice to proceed from Samsung C&T Corporation for a groundbreaking project in the UAE. This project involves delivering a cutting-edge 400 kV DC XLPE submarine HVDC cable for ADNOC, creating the Middle East's first HVDC network. With an approximate project value of USD 200 million, the system is slated to commence operation in 2025.
Material technology advancements have paved the way for specialized transmission solutions and high-temperature, low-sag conductors are increasingly used in scenarios where enhanced power transmission is needed over extended distances. This is made possible due to novel material used and developing heat-resistant composite core. Moreover, ongoing pilot projects explore high-temperature superconducting power lines cooled by liquid nitrogen, significantly reducing electrical resistance. Additionally, traditional AC transmission lines are evolving, featuring dynamic controls that can adjust power flow akin to regulating a valve. These technological strides are invigorating the power cable market, offering efficient solutions to address increased demand, enhance grid performance, and foster the adoption of sustainable technologies.
In January 2023, South Korea's state utility, KEPCO, conducted tests for the commercial operation of power transmission using superconducting coaxial cables. The project involved establishing a superconducting station between two substations and supplying electricity to nearby areas through superconducting cables maintained at extremely low temperatures. LS Cable & System, a prominent cable manufacturer in South Korea, developed a 23 kV superconducting coaxial cable with high transmission capacity and minimal power losses, emitting no electromagnetic waves. The technology is aimed at enhancing power supply reliability for 154 kV radial substations.
The COVID-19 pandemic had a severe impact on the energy and power sector, with similar effects resonating in the power cable market. Lockdown measures imposed by governments globally led to a sharp drop in electricity demand, altering load compositions and daily profiles. Industrial activities came to a halt, resulting in reduced power cable demand, notably within sectors like automotive, which saw reduced production. Furthermore, global supply chains were disrupted, causing raw material shortages and production delays. Uncertainty stemming from the pandemic led to reduced investments in new power cable projects, while many construction and infrastructure ventures were postponed, affecting cable demand.
However, as economies entered the recovery phase, a heightened focus on renewable energy projects emerged, necessitating the use of power cables. The pandemic-induced changes in the power balance and demand uncertainty created challenges for system operators, including voltage issues, while affecting the electricity market. Despite these challenges, long-term investments in clean energy sources are expected to remain stable, providing a positive outlook for the power cable market.
For example, Project EnergyConnect involved building a 900km 330kV transmission line connecting South Australia to New South Wales is being jointly developed by ElectraNet and Transgrid. The project enhances renewable energy, reliability, and cost savings and reached over 70% completion on the South Australian side in July 2023.
The Russia-Ukraine war has significantly impacted the power grid market, particularly in Europe. It has led to delays in crucial transmission projects due to geopolitical uncertainties. Also, European partners are diversifying their electricity procurement sources, moving away from Russian imports. The market is increasing investments in alternative energy solutions, such as renewable projects and grid enhancements, to overcome these challenges. Additionally, there is a renewed focus on energy security and infrastructure resilience, with stronger collaborations among European Union member states and an emphasis on reducing dependence on volatile regions. These strategies are helping the market adapt and mitigate the war's profound effects on the power grid sector.
In August 2023, the three EU and NATO member Baltic countries, Estonia, Latvia, and Lithuania, have accelerated their efforts to integrate with the European Union's electricity system. This move is aimed at achieving desynchronization from the Russian power grid, enhancing energy security, and reducing dependence on external sources.
The power cable industry is undergoing a wave of innovation and research. Smart cables, equipped with advanced sensors and data connectivity, provide real-time monitoring, enhancing grid management and reliability. Specialized cables for electric vehicles and microgrids address the evolving energy landscape. These advancements align the power cable market with the changing energy sector for a more reliable and sustainable power transmission infrastructure. Enterprises are adopting inventive methods for cable health monitoring. For instance, the New York Power Authority (NYPA) deploys LineVision's LiDAR sensors to monitor transmission lines in upstate New York. These sensors boost grid capacity and offer conductor insights and real-time anomaly detection, ensuring a dependable power supply.
In October 2023, Sterlite Power Transmission Limited, part of the Vedanta Group, and Singapore's GIC have established a USD 1 billion joint venture platform. The partnership aims to leverage India's growing renewable energy sector by meeting the demand for power evacuation networks. Sterlite Power is a leading provider of power cables and communication projects, while GIC seeks to be Sterlite's exclusive transmission partner in India to expand its market presence.
In October 2023, LS Cable & System partnered with PetroVietnam Technical Services Corporation (PTSC) to explore seabeds in Vietnam and develop submarine cable projects. PTSC in collaboration with LS Cable aims to capitalize on the project and future power grid-connecting projects in ASEAN countries, particularly considering Vietnam's significant offshore wind farm project with a capacity of approximately 6 gigawatts by 2030.
In June 2023, TenneT, a Transmission System Operator (TSO) operating in the Netherlands and Germany, announced its plans to enhance its grid infrastructure. It has chosen a consortium comprising NKT, Nexans, and LS Cable to provide and install approximately 7,000 kilometers of power cable systems, which will be utilized for both offshore and onshore applications. The significant project is valued at approximately USD 6.05 billion and encompasses a range of grid expansion initiatives, including offshore and onshore connections. The consortium is working towards completing these projects and making them operational by the end of 2032.
All segments will be provided for all regions and countries covered:
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.