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The future renewable energy projects, such as onshore and offshore solar farms and wind farms, are expected to augment the use of high voltage cables and open up new applications for them. Furthermore, corporate and governmental entities in regions like North America and Europe are likely to invest in these projects to support the development of energy infrastructure and satisfy power transmission needs in the regions. The leading players operating in the renewable energy market, such as JinkoSolar Holding Co., Ltd. (NYSE: JKS) and Vestas (OTCMKTS: VWDRY), among others, are making significant investments to increase their production capacity, which, in turn, is expected to favour the high voltage cable industry growth.
The growing collaborations and the adoption of strategic framework by the leading industry players to strengthen their position are expected to aid the industry. In February 2021, Nexans was awarded with a major frame contract by RTE, France’s Transmission System Operator (TSO), to deliver cables, accessories, and installation services for the underground grid connection project due to the company’s leadership in eco-conception and innovation in environmentally friendly products and services. This will allow Nexans to enhance its future partnership with RTE and enhance its global reach. Such developments are expected to contribute to the market expansion in the forecast period.
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The major players in the global high voltage cable market are Dubai Cable Company Pvt. Ltd., Nexans, Hitachi Metal, Ltd., Sumitomo Electric Industries, Ltd., and Siemens AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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