Underground Cabling EPC Market from PVC Projected to Grow over 4% by 2024 with Annual Installation of 40,000 Miles
The underground cabling EPC market exceeded USD 13 billion in 2017 and is anticipated to surpass an annual installation of 40,000 miles by 2024 as changing power consumption patterns in households and corporations will fuel the industry growth.
Sellbyville, DE -- (SBWire) -- 02/26/2019 --The Underground Cabling EPC Market in the current industrial regime has largely been influenced by various sets of regulatory guidelines and mandates, have standardized the deployment and manufacturing trend. In the recent years, suburban areas have been the prime focus for installers and regulators as these pose a significant potential for refurbishment & revamping of grid infrastructure. As per Europacable, 40,000 km EHV underground and submarine cables are to be build and refurbished in Europe, attracting an investment worth 150 billion euros (USD 170 billion) by 2030.
The rapid growth of T&D networks across the residential and commercial establishments have positively influenced the single core underground cabling EPC market. Flexible product specifications and aesthetic proximity are the prime factors influencing the product deployment. Furthermore, the increasing demand for energy favoured by the positive consumer inclination to incorporate a sustainable electricity network will augment the business landscape.
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Underground cabling EPC market from PVC is projected to grow over 4% by 2024. Product versatility & flexibility, high tensile strength, ease of installation and conductivity are prime factors influencing the product demand. In addition, dynamic product specifications coupled with varied application across house wiring, instruments, power supply solutions, wiring of circuit, mining operations, ship wiring, and submarines will positively sway the industry dynamics.
In the recent years, belted underground cables have witnessed a substantial upsurge on account of its unique design, high insulation and superior flexibility across the electricity distribution networks. Growing need for safe and secure electricity supply along with less environmental damage have compelled the industry participants and manufacturers to align their focus towards the development of these products which in turn will energize the global market.
PVC underground cables are anticipated to grow at a rate of over 4.5% by 2024. High tensile strength, product flexibility & versatility, conductivity and ease of installation are few parameters strengthening the overall underground cabling EPC market share. Moreover, dynamic product configurations along with wide application in wiring of circuit, house wiring, power supply solutions, instruments, submarines, mining operations and ship wiring will further stimulate the product adoption.
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Underground cabling EPC market across Europe is predicted to exceed USD 7 billion by 2024. The industry is anticipated to observe significant growth owing to rising investments and rapid commercialization across the utility-based electrification networks and industrial developments. Shifting trend toward conversion of overhead electric lines to aerial bunched cables and underground network will further complement the product penetration across the region.
Eminent participants across the underground cabling EPC market Nexans, Prysmian Group, ZTT INTERNATIONAL, Nexans, MasTec, Arteche, Sumitomo Electric, Polycab & Anixter.
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