Have a look at the key details offered by the wind energy cables market outlook

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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

• Americas
• APAC
• EMEA

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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