High Voltage Cables and Accessories Market Recent Developments & Emerging Trends To 2028

High Voltage Cables and Accessories Market is projected to reach USD 52.5 billion in 2028 from USD 40.0 billion in 2023 at a CAGR of 5.6% according to a new report by MarketsandMarkets™.  High voltage cables and accessories are essential as they facilitate the efficient and reliable transfer of electricity from power plants to power utilities, renewables and industries over long distances. It offers insulation and protection to prevent electrical leakage and reduce power losses. Accessories are essential components utilized to establish secure connections and maintain the seamless flow of power, ensuring the integrity of the system.

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The power utilities, by end user

Based on end user, the High Voltage Cables and Accessories Market has been split into power utilities, renewables, and indusrials. The power utilities segment is anticipated to be the largest during the forecast period. Power utilities industry is growing in High Voltage Cables and Accessories Market because of rising demand for electricity due to industrialization, urbanization, population growth etc.  It is also growing due to factors like renewable energy integration, grid modernization, infrastructure expansion, and advancements in cable technology.

The underground segment, by installation

This report segments the High Voltage Cables and Accessories Market based on installation into three segments: overhead, underground, and submarine. The underground segment is expected to be the second-fastest growing segment during the forecast period. Underground installation is essential as it offers enhanced reliability as they are less susceptible to weather-related disruptions leading to fewer power outages and a more dependable electrical supply. Underground cables provide flexibility for future expansion and urban planning, allowing for easier integration with new infrastructure projects and accommodating growing power demands.

Asia Pacific is expected to be the largest region in the High Voltage Cables and Accessories Industry

Asia Pacific is expected to be the largest High Voltage Cables and Accessories Market during the forecast period. Industries in Asia Pacific is constantly evolving, with new developments and emerging trends emerging. Some key trends such as the growth in the energy consumption of the region, coupled with development of infrastructure and energy projects drive the market for high voltage cables and accessories with the rising need for effective power transmission and distribution.

Key Market Players:

Some of the major players in the High Voltage Cables and Accessories Companies are Prysmian Group (Italy), Sumitomo Electric Industries Ltd. (Japan), Nexans (France), LS Cable & System Ltd. (Korea), and NKT A/S (Denmark). The major strategies adopted by these players include sales contract, acquisitions, product launches, agreements, partnerships, and expansions.

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Prysmian Group is one of the leaders in cables and system solutions for various industries, including utilities & power grids, telecom, construction & infrastructure, transportation and mobility. The company operates through three business segments namely energy, telecom and project. It offers high voltage cables and accessories through its project and energy segment. It highly invests in research and development for innovation.

Sumitomo Electric Industries, Ltd. is one of the leading manufacturers of electric cables and wire products. The company operates its business through five business segments, namely, Environment & energy, info- communications, Automotive, electronics and industrial materials.

The Environment and Energy business segment includes high voltage cables and accessories which caters to power utilities and renewables as end users. This segment serves other products like Redox Flow Battery, Concentrator Photovoltaic System, energy management system architecture, superconducting products, , traveling cables, heat shrink tubing, thermal control devices and much more.

Nexans manufactures, installs and integrates cables and systems. The company’s product portfolio includes rigid and flexible wires, rods, conductors, switches, tools, connectors, and spare parts. Nexans operates through five business segments namely Building & Territories, Generation & Transmission, Telecom & Data, Industry & Solutions, and other activities. It offers high voltage cables and accessories under its Building & Territories and Generation & Transmission segment and serves to power utilities, renewables and industries as end users.

LS Cable & System Ltd. is an Korean corporation that manufactures cables catering to energy, industrial, and communication sectors. It operates through five business segments: energy, industrial cables, telecommunication, materials and solutions.

The company offers high voltage cables and accessories through its energy segment. It also offers other products such as submarine cables, supercomducting cables, extra high voltage cables, high temperature superconducting and communication through the same segment. It serves power utilities, renewables and industries as end users.

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NKT A/S is a company in Denmark that offers cable solutions and operates through three business segments, namely, Solutions, Applications, Service & Accessories. The company caters to construction, industry, mining, power distribution, power transmission, railway, telecom, and trading industries. It offers High voltage cables and accessories through its Solutions and Service & Accessories segment and serves three end users namely, power utilities, renewables and industries.

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Exploring the $7.14 Billion Potential of the Small Modular Reactor Market by 2030

According to a research report, Small Modular Reactor Market is anticipated to grow from estimated USD 6.00 billion in 2024 to USD 7.14 billion by 2030, at a CAGR of 3.0% during the forecast period. The growth in the market will be attributed to the the growing demand for clean, reliable energy and the need for greater flexibility in power generation. Their compact design allows for easier construction and quicker commissioning, which can help reduce capital costs compared to traditional large-scale reactors. Additionally, advancements in safety features and the potential for integration with renewable energy sources enhance their appeal in the transition to a low-carbon economy.

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Light-water reactors, by type

The light-water reactors segment is expected to largest segment in the small modular reactor market. These reactors use ordinary water as a coolant and are the most widely adopted type, as these have the lowest technological risks. Such SMRs utilize well-tested solutions and products that use small and integrated components and increased passive safety features compared with those in the current large-scale LWRs. Also, these type of reactors has high technology readiness levels (TRL) which further drive this segment.

Power Generation, by application

The application segment is further segmented into 4 types: Power generation, Desalination, Industrial, and Hydrogen Production. Power generation segment is expected be the fastest growing segment in the application segment. SMRs have economies of series production, short construction times, and reduced siting costs compared with large nuclear power plants which makes them a cost-effective compared to traditional reactors. The power generated by SMRs is expected to be economical compared with other low-carbon alternatives and they help reduce carbon emissions and meet new energy demands.

Regional Analysis

Americas is going to witness the highest CAGR for the small modular reactor market. The aggressive investments in the region drives the growth for the SMRs during the forecast period. For Instance, US Department of Energy (DOE) announced an investment of USD 900 million to support the initial deployment of the small modular reactors technology. Technology giants are experiencing the surge in demand of power from the data centres due to the increasing load of the generative AI. These technology giants are investing into the SMRs to get clean power for the growing demand from their data centres.

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Key Players

Some of the major players in the small modular reactor market are State Atomic Energy Corporation Rosatom (Russia), China National Nuclear Corporation (China), Westinghouse Electric Company (US), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), GE Hitachi Nuclear Energy (US) among others. The major strategies adopted by these players include partnerships, contracts , acquisitions, joint ventures, and expansions.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
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Suite 103, Delray Beach, FL 33445
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Email: newsletter@marketsandmarkets.com

Relay Market Insights: Analyzing Demand Across Power and Utility Sectors

According to a research report "Relay Market by Type (Electromechanical, Thermal, Reed, Time, Solid State), Voltage Range (Low, Medium, High), Mounting Type (Panel, PCB, DIN Rail, Plug-In), Application (Protection, Monitor, Control), Verticals and Region - Global Forecast to 2030" published by MarketsandMarkets, the Relay market is anticipated to grow from an estimated USD 10.12 billion in 2024 to USD 15.20 billion by 2030, at a CAGR of 7.0% during the forecast period. The increasing incorporation of renewable energy sources that are subject to intermittency such as, solar energy wind energy, into electrical grids brings new obstacles. This is because relay systems help maintain stability in the grid by managing power variations, connecting different sources of energy seamlessly, and protecting the grid against faults. With the increase of renewable penetration, relays assist in controlling the voltage and frequency so as to protect the system and the energy from the volatile nature of renewable energy sources. Advanced relay solutions thus become inevitable to make certain structures balancing and supplying energy are trustworthy.

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Panel, by mounting type, is expected to be the largest market during the forecast period

Increased demand for the panel-mounted relays is being driven by this new smart grid technology; relay plays an integral role in all monitoring and control systems. The advanced digital communication and IoT technology underpin the smart grid's real-time monitoring, data analysis, and efficient management of electricity distribution. This requires reliable relay systems that make operations effortless smooth, improve the reliability of the grid, and support self-healing functions. Panel-mounted relays are critical to achieving accurate control and coordination among smart grid-related resources. Therefore, they become crucial components in modern energy infrastructures, primarily for the management of distributed energy resources and even in demand response strategies.

Electromechanical Relay, by Type, is expected to be the largest segment during the forecast period.

The type segment is further segmented into 6 types: Electromechanical Relay, Thermal Relay, Reed Relay, Time Relay, Solid State Relay (PhotoMOSFET), and Others. Electromechanical Relay segment is expected be the drive the market. Governments around the globe are actively fostering energy efficiency initiatives aimed at reducing energy consumption and promoting sustainable practices. These efforts include incentivizing the adoption of energy-efficient technologies and appliances across various sectors, which in turn drives the demand for electromechanical relays in modern power systems. As utilities and industries seek to optimize energy use and enhance grid reliability, electromechanical relays become essential components for managing and controlling power distribution effectively. By enabling precise switching and monitoring of electrical loads, these relays play a pivotal role in achieving energy savings and supporting the transition to a more sustainable energy landscape. Overall, the push for energy efficiency not only benefits consumers but also contributes significantly to reducing carbon footprints and advancing environmental goals worldwide.

Asia Pacific is expected to be the fastest-growing region during the forecast period.

The rapid growth of emerging economies, especially India and China, is considerably increasing the demand for relay systems across various sectors, including industrial and residential. As these countries continue their development of infrastructure and manufacture capabilities, there is a great need to ensure that the electrical system implemented in these areas is reliable and efficient. Relays have played an excellent role in ensuring smooth operations, protection of equipment, and management of power at industrial, residential, and other levels. This has increased mainly due to higher urbanization and high consumption of energy. Such developments have shifted the focus towards smart cities and thus on relay technology.

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Key Players

Some of the major players in the relay market are Panasonic Holdings Corporation (Japan), HONGFA (China), TE Connectivity (Switzerland), OMRON Corporation (Japan), and GE Vernova Inc. (US) among others. The major strategies adopted by these players include new product launches, acquisitions, joint ventures, and expansions.

Browse related reports:

Reed Relay Market by Voltage (200 V, 200 V–500 V, 500 V–1 Kv, 1 kV–7.5 kV, & 7.5 kV–10 kV, & Above 10 kV), Application (Industrial, Household Appliances, Test & Measurement, Mining, Automotive, EV, Medical, Renewables), & Geography – Global Forecast to 2030

MV Protection Relay Market by Type (Electromechanical & Static Relay, Digital & Numerical Relay), Connected Load (Feeder Lines, Transformers, and Motors), End-User (Utilities, Industrial, and Commercial & Institutional) & Region

MOSFET Relay Market by Voltage (Below 200V, 200-500V, 500-1kV, 1-7.5kV, 7.5-10kV, Above 10 kV), Application (Industrial, Household Appliances, Test & Measurements, Mining, Automotive, Medical, Renewables, Charging Stations) – Global Forecast to 2030

Timing Relay Market by Timer (On-Delay, Off-Delay), Mounting Type (Panel Mounted, Din Rail Mounted), Function (Single, Multi-Function), End-User (Utilities, Industries), and Region (Asia Pacific, North America, Europe)

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com