Wind energy cables is a normally a combination of high quality, thermosetting, rubber insulation, and sheathing. These cables require to be resistant to standard temperature ranges between -40°C and 90°C. The wind farms location mainly depends on whether it is onshore or offshore. Moreover, it is expected that wind energy cables resist different types of weather conditions such as high winds, salt water and extreme low/high temperatures. The cables which are installed within the nacelle and tower of a wind turbine are faced with a severe environment that includes flexing, vibration, electromagnetic interference, high-torsion stress, oil and ozone. Additionally, the wind energy cables also need to be resistant to fuel, coolant, oil, corrosive chemicals, and abrasion.
The market is driven mainly by one of the major factor such as increasing investment in offshore wind turbines. The growing preference for renewable power and rising requirement to lower the carbon emissions are some of the other factors which are further driving the growth of the market. Additionally, the enhancements in the wire technology is one of the major trends that will contribute to the growth of the market. The increasing demand for power may boost the market growth. The population is increasing exponentially and is expected to grow more in future, therefore this will lead to rise the demand for the power.
Market Classification and Overview
The global wind energy cable is segmented into product type, application, and region. Based on the product type, the market is segmented into low-voltage power cables (600 v) and medium-voltage power cables (15 to 46 kv). On the basis of application, the market is segmented into power transmission, information transfer, and others.
Geographically, the global wind energy cable is bifurcated into four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA). North America is expected to be the highest in expenditure during the forecast period in terms of upgrade programs and maintenance, repair, operations (MRO). Rapid urbanization and industrialization in this region is expected to improve energy demand, which in turn drives the market. Europe is expected to hold the major share during the forecast period owing to the growing installation of wind farms, growing investments in installation of offshore wind farms, and aging of older wind farms. Asia Pacific is expected to account for the second largest market owing to the increasing government support through different subsidies, growing turbine demands from existing and proposed wind farms, and cheap raw material availability. Additionally, LAMEA is estimated to have the steady growth owing to the less government support and poor economic condition.
Wind Energy Cable Market Report Coverage
|Market||Wind Energy Cable Market|
|Wind Energy Cable Market Analysis Period||2018 - 2030|
|Wind Energy Cable Market Base Year||2021|
|Wind Energy Cable Market Forecast Data||2022 - 2030|
|Market Stratification||By Product Types, By Application, And By Geography|
|Wind Energy Cable Market Regional Scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)|
Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,
Player Profiling, Value Chain Analysis
|Key Companies Profiled||Nexans, ABB, General Cable, JDR, Prysmian Group, Parker Scanrope, NSW, LS Cable & System, NKT, Others
The global wind energy cable market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2026, at a CAGR of during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2026 as the forecast period to estimate the market size for wind energy cable.
The wind energy cable market comprises of some of the major players such as
For instance, in January 2018, Nexans, a global cabling solutions company acquired a controlling interest in BE CableCon, a Denmark-based manufacturer and supplier of cable kits for wind turbines
Wind Energy Cable Market Market By Product Type
Wind Energy Cable Market Market By Application
Wind Energy Cable Market Market By Geography
The Middle East & Africa (MEA)