Global single-core power cable market compound by 4% in 2020Jul 24, 2017
According to Technavio's latest research report, the global single-core power cable market compound annual growth rate of about 4% in 2020
The report said that the transmission and distribution infrastructure expansion, increased demand for data centers, aircraft capacity and renewable energy power growth is to promote single-core power cable market demand for stable growth of the main factors.
Specifically, the popularity of cloud technology will increase the demand for data center construction, thus promoting single-core cable demand growth. At the same time, single-core cables are also often used in the aviation industry, such as aircraft, avionics, satellites, helicopters and missiles. Economic development is the root cause of the increase in demand for aircraft capacity. It is expected that by 2021, the annual compound growth rate for air transport will reach 4.5%.
Furthermore, single-core cables are common accessories for wind turbine nacelles. Especially high-temperature single-core sub-cable. In solar photovoltaic, the power system environment is usually high temperature, high ultraviolet radiation and most are in the outdoor environment, so single-core cable is a better choice. With the wind energy, solar photovoltaic and other renewable energy power demand increases, single-core cable demand will continue to grow.
In order to meet the growing demand for electricity, countries are increasing the construction of transmission and distribution infrastructure, which will further promote the market demand for single-core cable steady growth.
But what can not be ignored is that the great loss of power transmission and distribution leads to the reduction of efficiency, which is a major obstacle to the development of single core cable.
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