From 2019 to 27, the global high-voltage cable market will increase by 19 billion US dollars

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The global high-voltage cable market is expected to increase by $19 billion from 2019 to 27

Author：Henan Shenghua Cable Click： Time：2019-10-04 00:00:00

Research and Markets, an international market research institution, recently announced that based on existing data and global cable development speed, the global high-voltage cable market has a compound annual growth rate of 6.1% from 2019 to 2027, and it is predicted that the market size will increase by $19 billion during this period.

Research and Markets predict that in the coming years, the continuous development of world industrialization will increase the demand for electricity, and the continuous development of renewable energy will bring stimulation and growth points to the development of high-voltage cables.

On the other hand, the global coverage of submarine cable and Internet is also an important factor for the increasing demand of cable industry in the future.

High voltage cables are mainly composed of three types: underground high voltage cables, submarine high voltage cables, and overhead high voltage cables. In the report, Research and Markets predicts that the main growth point of cables in the coming years will be underground high voltage cables, as industrialization, mining, water and mud, manufacturing and other industries will have increasing demand for underground high voltage cables.

From a regional development perspective, the Asia Pacific region is also a major market that stimulates the rapid development of cables. The Asia Pacific region, including East Asia, China, Japan, South Korea, South Asia, India, and Southeast Asian countries, are all in a stage of rapid development, and it can be foreseen that the demand for power facilities will be increasing day by day.

As a country with a long-term economic growth period, China can foresee that the domestic cable industry will also experience growth in the coming years. As a part of China's cable industry, Henan Shenghua Cable Group, located in the central plains, is one of the top 500 manufacturing companies in China and one of the top 20 domestic cable companies. Henan Shenghua Cable will face challenges in the future, be brave in innovation, and deliver light and energy to various industries in China.

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The global high-voltage cable market is expected to increase by $19 billion from 2019 to 27

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