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Overview of the global wind energy cables market
Technavio’s research analysis on the global wind energy cables market identifies that the rising investments in offshore wind turbines will be one of the major factors that will have a positive impact on the growth of the market. The rising preference for renewable power and increasing requirement to lower the carbon emissions will drive the growth of the wind turbine cable market and is likely to grow higher during the forecast period. The offshore wind capacities are witnessing outstanding growth rates due to its considerable advantages and about 70% of the newly installed capacity in offshore wind farms are in Europe. This shift towards the generation of renewable power in the EU countries is mainly to reduce the greenhouse gas emissions by nearly 20% and to increase the adoption of renewable power generation. Technavio’s market research analysts predict that this market will grow at a CAGR of about 7% by 2021.
The improvements in the wire technology is one of the key trends that will contribute to the growth of this market in the forthcoming years. Better technologies have driven the manufacturers to launch innovative technology-based products with enhanced quality and higher efficiency. For instance, in 2017, Borealis and Borouge, launched new 640 kV products in extruded HVDC cable technology. This new material technology offers efficient delivery in long-distance transmission capacity, improved interconnectivity between grid and countries, and better connection of renewable energy sources to grids.
Competitive landscape and key vendors
The wind energy cables market consists of well established, international, regional and local vendors. Numerous regional vendors offer highly customized cables at lesser prices than the global players. The competitive environment in this market is likely to increase due to the rise in product extensions, technological innovations, mergers, and acquisitions.
The leading vendors in the market are –
- General Cable Technologies
- Nexans
- NKT Group
- Prysmian Group
- Sumitomo Electric Industries
The other prominent vendors in the market are Belden, Encore Wire, Finolex Cables, Hangzhou Cable, HENGTONG GROUP, International Wire Group, JDR Cables Systems, KEI Industries, LS CABLE & SYSTEM, Southwire Company, and TPC Wire and Cable.
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Segmentation by wind energy type and analysis of the wind energy cables market
- Offshore wind energy
- Onshore wind energy
The rising preference for offshore wind installations in various countries and the advantages such as longer blades and the increased ability to be installed in locations with less turbulence and average wind speeds will drive the segment growth in the wind energy cables market.
Geographical segmentation and analysis of the wind energy cables market
This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the wind energy cables market throughout the forecast period. The rise in the installation of wind farms, aging of older wind farms, and the increased investments in installations of offshore wind farms will drive the market growth in this region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global wind energy cables market?
- What are the key market trends impacting the growth of the global wind energy cables market?
- What are the challenges to market growth?
- Who are the key vendors in the global wind energy cables market?
- What are the market opportunities and threats faced by the vendors in the global wind energy cables market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global wind energy cables market?
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: MARKET SEGMENTATION BY WIND ENERGY TYPE
- Market overview
- Offshore wind energy segment
- Onshore wind energy segment
PART 07: REGIONAL LANDSCAPE
- Geographical segmentation
- Regional comparison
- EMEA – market size & forecast
- APAC – market size & forecast
- Americas – market size & forecast
- Key leading countries
- Market opportunity
PART 08: DECISION FRAMEWORK
PART 09: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 10: MARKET TRENDS
- Growing need for clean energy
- Increasing use of HVDC power cables
- Advances in wire technology
PART 11: VENDOR LANDSCAPE
- Competitive scenario
- Other prominent vendors
PART 12: KEY VENDOR ANALYSIS
- General Cable Technologies
- Nexans
- NKT Group
- Prysmian Group
- Sumitomo Electric Industries
PART 13: APPENDIX
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape