Menu ×

ENERGY & POWER

DC Electric Cable Market Segmentation By Application (Battery, HVDC Transmission, Solar Panels, Electronic Devices and Others); By Insulation Type (PVC, XLPE, HPTE, Mass Impregnated Paper, Mass Impregnated Polypropylene Laminate Paper, and Others) and By End User (Utilities & Power Grids, IT & Telecom, Automotive & Transportation, Electronics and Others) – Global Demand Analysis & Opportunity Outlook 2028

  • Text Size:

Extensive insights into the Growth of DC Electric Cable Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More
IN THE NEWS
  • November 2019: LS Cable & System announced that they have signed a contract with M.A.N. International Contracting to establish a joint power cable subsidiary in Egypt and for the market expansion into Africa and Middle East countries.

  • July 2019: Prysmian Group announced the launch of new 525kV HVDC cable technologies for efficient, reliable and eco-friendly power transmission.

Introduction to DC Electric Cables

DC or direct current cable is a type of electrical cable which are used to connect two or more devices and transfer electrical signals from one device to the other. DC electric cables differ from AC electric cables on the back of several characteristics, such as area of application, power loss during transmission, power carrying capacity and others. Electric current in a DC cable flows throughout the whole cross section diameter of the conductor whereas in an AC cable, the current flows through the outer surface owing to skin effect.

Market Size and Forecast

The DC electric cable market is thriving on the back of increasing urbanization and rapidly growing building infrastructure, coupled with growing deployment of solar panels, increasing deployment of HVDC transmission and rise in the number of electronic devices. Additionally, rising consumption of energy worldwide on the back of growing demand for electrical and electronics is raising the need for implementation of safe and secured electrical distribution systems, which includes wires and cables, appropriate connectors, and others, which is also anticipated to contribute towards the growth of the global DC electric cable market. Furthermore, rising concerns for safety and fire related occurrences held on the back of deployment of inappropriate wires and cables specified for use in electrical and electronic systems is also expected to contribute significantly towards the growth of the global DC electrical cable market. According to the statistics by the National fire Protection Association (NFPA), share of home fire occurred from wiring and related equipment constituted to 67% in-between the period 2012-2016.

Types of electrical Distribution

The market is anticipated to record a robust CAGR throughout the forecast period, i.e. 2020-2028. The global DC electric cable market is segmented by end user into utilities & power grids, IT & telecom, automotive & transportation, electronics and others, out of which, utilities & power grids segment is anticipated to hold the largest market share owing to shifting trend for cost efficient power distribution, along with growing trend of smart grid electricity distribution systems. DC electric cables (string DC cables) are widely used in connecting solar panels to the solar charge controller system. Further, main DC cables are utilized in connecting the system to the grid. Additionally, automotive and transportation segment is anticipated to gain significant market share in the global DC electric cable market on account of rising production of automobiles around the globe and rising demand for electric vehicles. Vehicles are powered with DC batteries owing to which, DC cables are deployed for the overall wiring of the vehicle. According to the statistics by the International Energy Association (IEA), electric car deployment in the world increased from 0.23 million in the year 2013 to 3.29 million in the year 2018. CLICK TO DOWNLOAD SAMPLE REPORT

Electric Car (BEV) Deployment

DC Electric Cable Market Share

Growth Drivers

Growing Concern for Power Loss in Power Distribution Systems

According to the U.S. Energy Information (EIA), electricity transmission and distribution losses as a percentage in the U.S.  increased from 4.67% in the year 2015 to 5.12% in the year 2017.

Transmission and Distribution Loss

There is a rising concern amongst power distribution agencies for the loss generated during transmission of electricity between two interconnected grids. DC cable transmission have lower losses than a corresponding AC cable link. Usually, converter station losses are normally as low as 0.6% per station, and DC cable losses are only around 0.3-0.4% per 100kms. Moreover, for cable links longer than 40-50km, DC electric cables provides lower investment costs, compensating on the back of installing only one DC cable instead of three AC cables. Additionally, long AC cables produce high amounts of reactive power which results in the requirement of shunt reactors at both ends and reducing the active power transmission capability. DC cables do not observe such drawbacks when compared to the AC cables. Furthermore, DC links can connect two asynchronous power grids and the high controllability of the DC system helps in the operating conditions of the interconnected grids.

Comparison of Deploying AC and DC Cable in T&D systems

Shifting Trends Towards Renewable Sources of Energy

Growing concern for the environment is raising the demand for renewable energy sources, such as solar energy, wind energy, geothermal energy and others. DC electric cables are lifelines of the solar power plant as they play a significant role on the overall power output as well as to reduce the performance issues observed in solar panels. Moreover, rising deployment of solar panels around the globe is anticipated to raise the demand for DC solar cables. As solar panels are deployed outdoors, it is very important to utilize cables which can bear the harsh outdoor conditions, such as, direct sun radiation, air humidity, and others, and should have the characteristics of UV-resistance. DC electric cables provide a wide range of characteristics that meets the basic necessity for the deployment of the cables in solar panels. On the back of being able to withstand mechanical stress, being suitable for a large temperature range, are abrasion resistant, acid and base proof, have dielectric strength, and are also flame-retardant and halogen free, which makes DC electric cables the best suitable cable for solar panels.

Restraints

Lack of Awareness for DC Cables

Unavailability of proper knowledge for the utilization of DC cables amongst consumers is anticipated to hinder the growth of the global DC electric cable market during the forecast period.

Market Segmentation

Our in-depth analysis of the global DC electric cable market includes the following segments:

By Application

  • Battery
  • HVDC Transmission
  • Solar Panels
  • Electronic Devices
  • Others

By Insulation Type

  • PVC
  • XLPE
  • HPTE
  • Mass Impregnated Paper
  • Mass Impregnated Polypropylene Laminate Paper
  • Others

By End User

  • Utilities & Power Grids
  • IT & Telecom
  • Automotive & Transportation
  • Electronics
  • Others

By Region

On the basis of regional analysis, the global DC electric cable market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia Pacific is anticipated to hold the largest market share on account of growing investments for renewable energy in the region. The demand for DC electric cables for solar energy and wind energy, along with the demand for HVDC cables is anticipated to rise with the increasing deployment of renewable energy sources. Furthermore, it is anticipated that there will be a rising demand for power distribution generated from the renewable sources, impacting positively towards the deployment of HVDC transmission cables for long distance and efficient transmission. According to the International Renewable Energy Agency (IRENA), investments for renewable energy in Asia and Oceania grew from USD 81.6 billion in the year 2011 to USD 150 billion in the year 2018.

Renewable Energy Investments

The global DC electric cable market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

Top Featured Companies Dominating the Market


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2020 Research Nester. All Rights Reserved