Selbyville, Delaware, June 01, 2022 (GLOBE NEWSWIRE) —
The Europe HVAC cables market size is expected to record a valuation of USD 1 billion by 2030, according to the most recent study by Global Market Insights Inc.
Ongoing urbanization and growing population along with accelerating expenditure on the development of power networks will accelerate the business outlook. In addition, the rapidly elevating energy consumption together with a shifting focus toward energy-efficient technologies will spur the industry expansion. Furthermore, cost efficient, and tailored turnkey solutions including onshore and subsea cable system will thrust the business scenario.
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The robust expansion of offshore oil & gas platforms along with increasing inclination toward the development of renewable energy infrastructure will propel the submarine HVAC cables industry growth. The ongoing deployment of offshore wind farms along with the government initiatives to integrate an energy efficient environment have infused a favorable market scenario. Moreover, ongoing public & private investments followed by favorable government norms to integrate energy efficient networks will sway the market progression. Additionally, rising intra-regional interconnectors followed by increasing energy imports and exports across the region will fuel the demand for HVAC cables.
> 220 kV capacity Europe HVAC cables market is anticipated to grow owing to its high applicability across large scale industrial sector, oil & gas platforms and offshore wind farm sector. Low installation and maintenance cost along with improved conductor ability & durability are some major parameters which will strengthen the product landscape. Furthermore, ongoing refurbishment & replacement of conventional power networks in line with the expansion of smart grid infrastructure will boost the market revenue.
The COVID-19 has impacted the overall Europe HVAC cables market in an unprecedented manner as the pandemic resulted in imposing lockdowns by the governing authorities, delayed project commissioning time, labour shortages and disturbance in supply chain networks. However, favorable government measures including social distancing, introduction of several vaccination drives to reduce affected patients count has resulted in industry operations back to normalcy. Moreover, increasing electricity demand along with growing energy imports and exports across the region will augment the market expansion.
Germany HVAC cables market is estimated to witness a significant growth due to the rising energy demand along with increasing investments toward intra-regional power networks. Evolution of smart technologies along with the integration of advanced offshore technologies and control systems will foster the industry scenario.
Favorable government policies coupled with improved trade relations among the European nations will positively influence the power supply form one nation to another. In addition, paradigm shift toward supply of affordable and cost-effective electricity for consumers will further result in increased power trading.
Some eminent players operating across Europe HVAC cables market includes Prysmian Group, Elsewedy Electric, Ducab, Power Plus Cable, Sumitomo Electric, Nexans, Brugg Cables, alfanar Group, NKT A/S, ZTT, Hellenic Cables Group, Furukawa Electric, TF Kable and Tratos among others.
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Some key finding of Europe HVAC cables market report includes:
- Demand for HVAC cables are rising on account of expansion and development of smart grid along with growing electricity demand across the region.
- Favorable government norms and standards toward refurbishment and revamping of existing transmission energy networks along with growing concerns toward safe, secure and reliable electrical grid network will escalate the industry landscape.
- Ongoing technological enhancements to minimize installation & maintenance cost followed by reducing sagging losses and improving product lifecycle will proliferate the business landscape.
Table of Contents (ToC) of the report
Chapter 2 Europe HVAC Cables Market Insights
2.1 Industry ecosystem analysis
2.2 Innovation & technology landscape
2.2.1 Prysmian Group
2.2.2 Sumitomo Electric Industries, Ltd.
2.3 Regulatory landscape
2.4 COVID- 19 impact on the industry outlook
2.5 Industry impact forces
2.5.1 Growth drivers
220.127.116.11 Expansion of smart grid networks
18.104.22.168 Refurbishment & retrofit of existing grid infrastructure
22.214.171.124 Integration of inter-regional and intra-regional transmission network
126.96.36.199 Increasing deployment of offshore wind farms
2.5.2 Industry pitfalls & challenges
188.8.131.52 High dependency on imports
2.6 Europe HVAC cables, project landscape
2.7 Growth potential analysis
2.8 Porter’s Analysis
2.9 Competitive landscape, 2022
2.10 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/europe-hvac-cables-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.