Views: 0 Author: Site Editor Publish Time: 2022-08-12 Origin: Site
Rising renewable energy generation, rapid pace of industrialization and urbanization, and modernization of traditional power infrastructure as the global decarbonization process progresses are driving steady growth in the Americas medium-voltage cable market.
The response to natural disasters, weather-related incidents, and unpredictable power outages are driving the growth of the medium voltage cable market in the region.
High emphasis by governments in the Americas on achieving net zero carbon emissions targets and increased private sector participation in the production of renewable energy will propel the growth of the medium voltage cable market. Favorable government-led wind power policies have attracted many large-scale wind farm developers into the regional market. The development of technologies used in wind and solar power plants, such as efficient cable infrastructure, has led to the installation of new wind and solar power plants in the region, thus providing more opportunities for the Americas medium voltage cable market.
By insulation type, XLPE medium voltage cables are expected to be the most important market segment during the forecast period. XLPE insulation is effective at high and low temperatures. Due to its structure, XLPE is extremely resistant to abrasion, it is also resistant to high voltage electricity, chemicals and other harmful substances. Cross-linked polyethylene is also a more affordable option.
By regional market, the North America region will contribute to the highest market share for medium voltage cables in the Americas during the forecast period. Medium voltage cables are used to interconnect equipment in large-scale renewable energy projects such as solar, offshore wind and hydroelectric dams. They are also used to connect these projects to create private distribution networks and connect to the wider national grid. The increase in U.S. solar and wind power generation capacity comes as the country continues to take steps to decarbonize the power sector and combat the environmental impacts of climate change. Hence, increasing wind and solar power generation in the United States is expected to drive the growth of the medium voltage cable market.
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