Commodities

High Voltage Cables and Accessories Market worth $52.5 billion by 2028 – Exclusive Report by MarketsandMarkets™

Published

2 years ago

June 23, 2023

CHICAGO, June 23, 2023 /PRNewswire/ — High Voltage Cables and Accessories Market is projected to reach USD 52.5 billion in 2028 from USD 40.0 billion in 2023 at a CAGR of 5.6% according to a new report by MarketsandMarkets™. High voltage cables and accessories are essential as they facilitate the efficient and reliable transfer of electricity from power plants to power utilities, renewables and industries over long distances. It offers insulation and protection to prevent electrical leakage and reduce power losses. Accessories are essential components utilized to establish secure connections and maintain the seamless flow of power, ensuring the integrity of the system.Browse in-depth TOC on “High Voltage Cables and Accessories Market”215 – Tables50 – Figures250 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=95892251 High Voltage Cables and Accessories Market Scope:Report Coverage
Details
Market Size
USD 52.5 billion in 2028
Growth Rate
5.6% of CAGR
Largest Market
Asia Pacific
Market Dynamics
Drivers, Restraints, Opportunities & Challenges
Forecast Period
2023-2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
High Voltage Cables and Accessories Market by product type, voltage, conductor type, installation, and end user
Geographies Covered
Asia Pacific, North America, Europe, South America, and Middle East & Africa.
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Increasing Adoption of HVDC Submarine Power Cables
Key Market Drivers
Rising Investments in Electricity Grids
The power utilities, by end user, is expected to grow be the largest segment during the forecast period.Based on end user, the High Voltage Cables and Accessories Market has been split into power utilities, renewables, and indusrials. The power utilities segment is anticipated to be the largest during the forecast period. Power utilities industry is growing in High Voltage Cables and Accessories Market because of rising demand for electricity due to industrialization, urbanization, population growth etc. It is also growing due to factors like renewable energy integration, grid modernization, infrastructure expansion, and advancements in cable technology.The underground segment, by installation, is expected to grow at the second-highest CAGR during the forecast period.This report segments the High Voltage Cables and Accessories Market based on installation into three segments: overhead, underground, and submarine. The underground segment is expected to be the second-fastest growing segment during the forecast period. Underground installation is essential as it offers enhanced reliability as they are less susceptible to weather-related disruptions leading to fewer power outages and a more dependable electrical supply. Underground cables provide flexibility for future expansion and urban planning, allowing for easier integration with new infrastructure projects and accommodating growing power demands.Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=95892251 Asia Pacific is expected to be the largest region in the High Voltage Cables and Accessories IndustryAsia Pacific is expected to be the largest High Voltage Cables and Accessories Market during the forecast period. Industries in Asia Pacific is constantly evolving, with new developments and emerging trends emerging. Some key trends such as the growth in the energy consumption of the region, coupled with development of infrastructure and energy projects drive the market for high voltage cables and accessories with the rising need for effective power transmission and distribution.Key Market Players:Some of the major players in the High Voltage Cables and Accessories Companies are Prysmian Group (Italy), Sumitomo Electric Industries Ltd. (Japan), Nexans (France), LS Cable & System Ltd. (Korea), and NKT A/S (Denmark). The major strategies adopted by these players include sales contract, acquisitions, product launches, agreements, partnerships, and expansions.Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=95892251 Recent DevelopmentsIn May 2023, Prysmian Group made an announcement regarding the successful acquisition of a contract valued at over USD 864.9 million. This contract pertains to the development of a new power interconnection project between France and Spain, which will be executed for INELFE. INELFE is a joint venture equally owned by Red Electrica, the Spanish grid operator, and Réseau de Transport d’Électricité (RTE), the French grid operator.In April 2023, Nexans finalized the purchase of Reka Kaapeli Oy, for a total of USD 57.29 million. The integration of Reka Cables into Nexans’ Distribution & Usage business group was included in the acquisition. Being a part of Nexans presents Reka Cables with the chance to enhance its growth and development, while also enabling increased investments in renewable energy solutions.In April 2023, Sumitomo Electric Industries, Ltd. revealed its plans to construct a fresh Power Cable facility in the Scottish Highlands, UK. This initiative aims to make a substantial impact on fostering local supply chains and advancing technologies in the UK within the renewable energy sector.In March 2023, Prysmian Group made an announcement regarding the acquisition of contracts from the Dutch transmission system operator TenneT. These contracts, with a total value of around USD 1.94 billion, are for two grid connection projects that aim to connect two upcoming offshore wind farms situated in the Dutch North Sea to the province of Zeeland in the Netherlands. The scope of the project includes various tasks such as design, engineering, manufacturing, installation, testing, and commissioning of two 525 kV HVDC submarine and land cable systems, along with all associated accessories.Browse Adjacent Markets: Energy and Power Market Research Reports & ConsultingRelated Reports:Medium Voltage Cables & Accessories MarketCables and Accessories MarketTop 10 High & Medium Voltage Products MarketAbout MarketsandMarkets™:MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: sales@marketsandmarkets.comResearch Insight: https://www.marketsandmarkets.com/ResearchInsight/high-voltage-cable-accessories-market.asp Visit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/high-voltage-cable-accessories.asp Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/high-voltage-cables-and-accessories-market-worth-52-5-billion-by-2028—exclusive-report-by-marketsandmarkets-301860759.htmlSOURCE MarketsandMarkets

Commodities

Oil prices steady; traders digest mixed US inventories, weak China data

Published

16 hours ago

January 9, 2025

Investing.com– Oil prices steadied Thursday as traders digested data showing an unexpected increase in US product inventories, while weak economic data from top importer China weighed.

At 05:25 ET (10:25 GMT), expiring in March gained 0.1% to $76.25 a barrel, while rose 0.1% to $73.37 a barrel.

The crude benchmarks had slumped more than 1% on Wednesday, but trading ranges, and volumes, are likely to be limited throughout Thursday with the US market closed to honor former President Jimmy Carter, ahead of a state funeral later in the session.

China inflation muted in December

Chinese inflation, as measured by the , remained unchanged in December, while the shrank for a 27th consecutive month, data showed on Thursday.

The reading pointed to limited improvement in China’s prolonged disinflationary trend, even as the government doled out its most aggressive round of stimulus measures yet through late-2024.

China is the world’s biggest oil importer, and has been a key source of anxiety for crude markets. Traders fear that weak economic growth in the country will eat into oil demand.

The country is also facing potential economic headwinds from the incoming Donald Trump administration in the US, as Trump has vowed to impose steep trade tariffs on Beijing.

US oil product inventories rise sharply

U.S. gasoline and distillate inventories grew substantially more than expected in the week to January 3, government data showed on Wednesday.

inventories grew 6.3 million barrels against expectations of 0.5 mb, while grew 6.1 mb on expectations of 0.5 mb.

Overall crude also shrank less than expected, at 0.96 mb, against expectations of 1.8 mb.

The build in product inventories marked an eighth straight week of outsized product builds, and spurred concerns that demand in the world’s biggest fuel consumer was cooling.

While cold weather in the country spurred some demand for heating, it also disrupted holiday travel in several areas.

EIA data also showed that US imports from Canada rose last week to the highest on record, ahead of incoming U.S. president Donald Trump’s plans to levy a 25% tariff on Canadian imports.

Canada has been the top source of U.S. oil imports for many years, and supplied more than half of the total U.S. crude imports in 2023.

Strength in the also weighed on crude prices, as the greenback shot back up to more than two-year highs on hawkish signals from the Federal Reserve.

A strong dollar pressures oil demand by making crude more expensive for international buyers.

(Ambar Warrick contributed to this article.)

Commodities

Trump’s possible tariffs could put downward pressure on oil prices – RBC

Published

16 hours ago

January 9, 2025

Investing.com – President-elect Donald Trump’s plan to implement sweeping import tariffs during his second term in the White House is potentially the “most bearish” policy development for the energy sector this year, according to analysts at RBC Capital Markets.

Trump, who is set to come to power in less than two weeks, has vowed to impose tariffs of as much as 10% on global imports into the US and 60% on items coming from China. He has also pledged to slap a 25% surcharge on products from Canada and Mexico.

Economists have flagged that the proposal would not only rattle global trade activity, but also threaten to reignite inflationary pressures and spark possible retaliation.

The uncertainty in markets was heightened on Wednesday after CNN reported that Trump is mulling declaring a national economic emergency in order to provide the legal underpinning for the tariffs. Earlier this week, Trump also denied a separate report that his team was mulling scaling back the levies to cover only critical goods.

In a note to clients on Thursday, analysts at RBC led by Helima Croft said that while the ultimate scope of the tariffs remains unclear, the headline duties on China could soften demand in the country and place downward pressure on oil prices. China is the world’s largest crude importer.

Business leaders with significant ties to China may advise Trump to stay away from instituting strict tariffs on the country, Croft predicted.

“We have also heard a view in Washington that President Trump could be amenable to a deal with China if Beijing offered to make large headline purchases of US goods, such as aircraft or even US [liquefied natural gas] imports,” Croft wrote.

“Beijing could also potentially seek to trade a reduction in Iranian crude imports for a tariff reprieve.”

However, Croft flagged that the overall market effect of the tariffs is still “challenging to forecast” because the Trump administration — unlike a prior round of trade tensions in 2018 — will have to weight the impact of the policies with broader macroeconomic worries “still front of mind for many in Washington”.

(Reuters contributed reporting.)

Commodities

Gold prices edge higher; demand boosted by Trump-inspired uncertainty

Published

16 hours ago

January 9, 2025

Investing.com– Gold prices edged higher Thursday, continuing the recent gains, as heightened uncertainty over a hawkish Federal Reserve and President-elect Donald Trump’s plan for trade tariffs fueled some safe haven demand.

At 06:15 ET (11:15 GMT), {68|Spot gold}} rose 0.4% to $2,683.84 an ounce, while expiring in February rose 0.3% to $2,668.60 an ounce.

Trading activity is likely to be limited Thursday, with US traders on holiday to honor former President Jimmy Carter, with a state funeral due later in the session.

Safe haven demand on economic uncertainty

Bullion prices benefited from some safe haven demand this week, as uncertainty over Trump’s trade and immigration policies dented risk appetite.

A CNN report said Trump could declare a national economic emergency to legally justify his plans to impose universal trade tariffs.

Concerns over Trump’s policies also came into focus after the of the Fed’s December meeting showed policymakers expressing some concerns over sticky inflation.

Specifically, Fed officials were growing concerned that Trump’s expansionary and protectionist policies could underpin inflation in the long term.

The minutes also largely reiterated the Fed’s plans to cut interest rates at a slower pace in 2025, after the central bank effectively halved its projected rate cuts to two from four in 2025.

Treasury yields shot up after the Fed’s minutes, as did the dollar.

Higher for longer rates bode poorly for non-yielding assets such as metals, given that they increase the opportunity cost of investing in the sector.

Other precious metals were edged higher Thursday. fell 0.1% to $983.85 an ounce, while rose 0.8% to $30.930 an ounce.

Copper rises as weak China inflation fuels stimulus hopes

Benchmark on the London Metal Exchange rose 0.7% to $9,093.0 a ton, while March rose 1.2% to $4.3115 a pound.

Chinese were flat in December, while shrank for a 27th consecutive month, indicating little improvement in disinflation.

Inflation remained weak even as Beijing doled out its most aggressive round of stimulus measures through late-2024.

But Thursday’s inflation data fueled increased bets that Beijing will do more to shore up Chinese growth, especially on the fiscal front.

(Ambar Warrick contributed to this article.)

Among industrial metals, copper prices firmed as weak inflation data from top importer China spurred bets on more stimulus measures from Beijing.

But metal markets remained under pressure from strength in the dollar, which came back in sight of over two-year highs on hawkish signals from the Fed.