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Asia Pacific MV and HV Underground Cables and Accessories Market: By Type: Cable Type, Accessories Type, By End User: Utility, Oil and Gas, Mining, Renewables, Transportation, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Asia Pacific MV and HV Underground Cables and Accessories Market Outlook

Asia Pacific MV and HV underground cables and accessories market is expected to grow at a CAGR of 7.3% during the period 2022-2027. The market is expected to be driven by a surge in renewable energy, increased usage of interconnectors and submarine cables, building of urban substations in "mega-cities," and growing public opposition to new overhead line projects.

 

Asia Pacific MV and HV Underground Cables and Accessories Market

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Market in the Region Likely to be Driven by Increased Focus on Renewable Energy and Development of Transmission and Distribution Networks

Underground cables provide a cost-effective and maintainable alternative for crucial segments (as well as full length in a few cases) of power transmission and distribution lines, as well as the full length of some lines. Underground cables can have a low environmental impact if proper equipment is employed in the right places. Electricity is transmitted and delivered using either an overhead or an underground cable system. A cable is an insulated conductor that is used for underground electrical transmission and distribution. A cable is a bundle of one or several conductors, each with its own insulation, separate covers, assembly protection, and protective coverings.

Insulation protects the conductor by covering it and isolating it from the environment. Underground cables are commonly used in densely populated areas and areas with high automobile density, like cities and metros, high-rise commercial and residential buildings, and places where critical installations of uninterrupted power supply, such as water supply systems, hospitals, and IT services, are located. Underground cables are also used in factories, substations, railways, and road crossings, as well as in the maintenance of residential installations and other comparable sites. Where overhead installation is impractical, underground cables are used for transmission and distribution of electric power. Such locations could include congested areas where right-of-way costs are prohibitive or municipal ordinances ban overhead lines for safety reasons, or around plants and substations or crossings over large bodies of water where overhead crossings are prohibited for different reasons.

 

Advanced Solutions and Increased Demand for Better Environment Expected to Boost Asia Pacific MV and HV Underground Cables and Accessories Market

Several solutions have been developed to allow utilities to expand their capacity without having to contend with right-of-way (RoW) clearances. The use of underground cables has become a new technology trend. Cross-linked polyethylene (XLPE) and Gas Insulated Cables (GILs) have been developed for high-voltage transmission networks. In several parts of Asia, increasing consumer demand for a better environment and superior system reliability has resulted in increased demand for undergrounding.

 

Government Initiatives in Countries Like India Expected to Contribute to Market Growth

In India, the government has been emphasizing development and enhancement of transmission and distribution networks. Several schemes have been introduced by the government to this end. Such initiatives have resulted in the creation of a market for cables and conductors in the country. Continued investments by the government through various schemes are expected to boost the market during the forecast period. Apart from government initiatives, a key driver would be the shift towards HV (high voltage) transmission lines. Demand would increase due to the creation of high voltage long distance corridors aimed at delivering electricity to high demand areas and the development of green energy corridors for integrating the increasing share of renewable energy into the grid.

 

Growth of Smart Grid Technologies is Expected to Stimulate the Market

With growth of smart grid technologies and the increase in renewable energy capacity, specialized cables are being designed. For example, MV (medium voltage) smart cables that integrate optical fibre cable with power cables, are preferred for smart grid applications. Thus, growth of smart grid technologies is expected to stimulate the Asia Pacific MV and HV underground cables and accessories market.

 

Market Segmentation

 

Asia Pacific MV and HV Underground Cables and Accessories Market by Segments

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By type, the market is segmented into:

  • Cable Type (further broken down by type as given below)
    • Medium Voltage
    • 1kV–15kV
    • 15kV-36kV
    • 36kV-69kV
    • High Voltage
    • 69kV-230kV
    • 230kV-500kV
    • Above 500kV
  • Accessories Type (further broken down by type as given below)
    • Cable Joints
    • Terminators
    • Connectors
    • Clamps
    • Others

By end user, the market is classified into:

  • Utility
  • Oil and Gas
  • Mining
  • Renewables
  • Transportation
  • Others

By country, the market is divided into:

  • China
  • Japan
  • India
  • ASEAN
  • Australia
  • Others

 

Asia Pacific MV and HV Underground Cables and Accessories Market by Region

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Key Industry Players in the Asia Pacific MV and HV Underground Cables and Accessories Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Gloster Cables Limited 
  • Sterlite Power
  • Bhuwal Insulation Cable Pvt. Ltd. 
  • Sumitomo Electric Industries, Ltd. 
  • Federal Power Sdn Bhd 
  • ZTT 
  • Jiangnan Group Limited
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Asia Pacific MV and HV Underground Cables and Accessories Market Analysis

    8.1    Key Industry Highlights
    8.2    Asia Pacific MV and HV Underground Cables and Accessories Historical Market (2017-2021) 
    8.3    Asia Pacific MV and HV Underground Cables and Accessories Market Forecast (2022-2027)
    8.4    Asia Pacific MV and HV Underground Cables and Accessories Market by Type
        8.4.1    Cable Type 
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Medium Voltage 
                    8.4.1.4.1.1    1kV–15kV
                    8.4.1.4.1.2    15kV-36kV
                    8.4.1.4.1.3    36kV-69kV
                8.4.1.4.2    High Voltage
                    8.4.1.4.2.1    69kV-230kV
                    8.4.1.4.2.2    230kV-500kV
                    8.4.1.4.2.3    Above 500kV
        8.4.2    Accessories Type
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Cable Joints 
                8.4.2.4.2    Terminators
                8.4.2.4.3    Connectors
                8.4.2.4.4    Clamps
                8.4.2.4.5    Others 
    8.5    Asia Pacific MV and HV Underground Cables and Accessories Market by End User
        8.5.1    Utility
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Oil and Gas
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Mining
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Renewables
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
        8.5.5    Transportation
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2017-2021)
            8.5.5.3    Forecast Trend (2022-2027)
        8.5.6    Others
    8.6    Asia Pacific MV and HV Underground Cables and Accessories Market by Country
        8.6.1    Market Share
            8.6.1.1    China
            8.6.1.2    Japan
            8.6.1.3    India
            8.6.1.4    ASEAN
            8.6.1.5    Australia
            8.6.1.6    Others
9    Regional Analysis
    9.1    China
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
    9.2    Japan
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
    9.3    India
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
    9.4    ASEAN
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
    9.5    Australia
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Gloster Cables Limited 
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Sterlite Power
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Bhuwal Insulation Cable Pvt. Ltd. 
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Sumitomo Electric Industries, Ltd. 
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Federal Power Sdn Bhd 
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    ZTT 
            11.2.6.1    Company Overview
            11.2.6.2    Product Portfolio
            11.2.6.3    Demographic Reach and Achievements
            11.2.6.4    Certifications
        11.2.7    Jiangnan Group Limited
            11.2.7.1    Company Overview
            11.2.7.2    Product Portfolio
            11.2.7.3    Demographic Reach and Achievements
            11.2.7.4    Certifications
        11.2.8    Others
12    Industry Events and Developments

 

List of Figures and Tables

1.    Asia Pacific MV and HV Underground Cables and Accessories Market: Key Industry Highlights, 2017 and 2027
2.    Asia Pacific MV and HV Underground Cables and Accessories Historical Market: Breakup by Type (USD Million), 2017-2021
3.    Asia Pacific MV and HV Underground Cables and Accessories Market Forecast: Breakup by Type (USD Million), 2022-2027
4.    Asia Pacific MV and HV Underground Cables and Accessories Historical Market: Breakup by End User (USD Million), 2017-2021
5.    Asia Pacific MV and HV Underground Cables and Accessories Market Forecast: Breakup by End User (USD Million), 2022-2027
6.    Asia Pacific MV and HV Underground Cables and Accessories Historical Market: Breakup by Country (USD Million), 2017-2021
7.    Asia Pacific MV and HV Underground Cables and Accessories Market Forecast: Breakup by Country (USD Million), 2022-2027
8.    Asia Pacific MV and HV Underground Cables and Accessories Market Structure

Key Questions Answered in the Report

The Asia Pacific MV and HV underground cables and accessories market is projected to grow at a CAGR of 7.3% between 2022 and 2027.

The major drivers of the market include the building of urban substations in mega-cities, growing public opposition to new overhead line projects, government initiatives, shift towards HV (high voltage) transmission lines, and development of green energy corridors.

A surge in renewable energy and increased usage of interconnectors and submarine cables are the key industry trends propelling the market's growth.

The major regions in the industry are China, Japan, India, ASEAN, and Australia, among others.

The different types in the market are cable type and accessories type. Cables are further divided into medium voltage and high voltage while accessories type is sub-divided into cable joints, terminators, connectors, and clamps, among others.

Asia Pacific MV and HV underground cables and accessories find their major end-users in utility, oil and gas, mining, renewables, and transportation, among others.

The major players in the industry are Gloster Cables Limited, Sterlite Power, Bhuwal Insulation Cable Pvt. Ltd., Sumitomo Electric Industries, Ltd., Federal Power Sdn Bhd, ZTT, and Jiangnan Group Limited, among others.

Analyst Review

The Asia Pacific MV and HV underground cables and accessories market was driven by the surge in renewable energy in the historical period. Aided by the development of green energy corridors and increased usage of interconnectors and submarine cables, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 7.3%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The different types in the market are cable type and accessories type. Cables are further divided into medium voltage and high voltage, while accessories type is sub-divided into cable joints, terminators, connectors, and clamps, among others. Asia Pacific MV and HV underground cables and accessories find their major end-users in utility, oil and gas, mining, renewables, and transportation, among others. The major regional markets for the MV and HV underground cables and accessories market are China, Japan, India, ASEAN, and Australia, among others. The major players in the industry are Gloster Cables Limited, Sterlite Power, Bhuwal Insulation Cable Pvt. Ltd., Sumitomo Electric Industries, Ltd., Federal Power Sdn Bhd, ZTT, and Jiangnan Group Limited, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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