According to a new market report published by Transparency Market Research titled “OPGW Cable Market–Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,” the global OPGW cable market is expected to reach US$ 797.1 Mn by 2026. The market is projected to expand at a CAGR of 5.07% during the forecast period from 2018 to 2026.According to the report, the global OPGW cable market will continue to be influenced by the growing demand for electricity from emerging economies, especially China and India. The Asia Pacific region is projected to be at the forefront of global demand, with the market in the region growing at a CAGR of above 5.8% through 2026.
220-500 KV segment expected to be more lucrative for the global OPGW cable market
The global OPGW cable market is segmented on the basis of application into below 220 KV, 220-500 KV, and above 500 KV. In 2017, the 220-500 KV segment was seen to be a major revenue generating segment. 220-500 KV segment includes the OPGW cables used along with the transmission lines carrying voltages in the range of 220 KV, 345 KV, and 400KV. Transmitting power at these voltage levels results in lower value of current which reduces the losses arising out of skin effect, corona, and impedance and ensures higher transmission efficiency. The 200-500KV segment is expected to expand at a significant CAGR of 5.24% over the forecast period.
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Layer stranding structure segment expected to dominate the OPGW cable market around the globe
Based on type, the market has been divided into layer stranding structure and central tube structure. In 2017, the layer stranding structure segment was the topmost revenue generating segment due to its widespread use by electric utility companies. The layer stranding structure ensures better flexibility, higher data bandwidth due to increased number of fiber optics carrying capacity, and has a rugged construction. The layer stranding structure segment is expected to expand at the fastest CAGR of 5.18% from 2018-2026.
Asia Pacific expected to continue to hold significant share in the overall market
In terms of geography, the market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2017, Asia Pacific was the topmost revenue generating region followed by North America. The market in Asia Pacific is expected to expand at the highest CAGR from 2018 to 2026 due to the growing demand for electricity and broadband from developing countries such as India and China.
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The market in Europe is projected to expand at a significant CAGR during the forecast period. Additionally, many key players in the cable industry are entering into strategic partnerships to improve their market presence and increase their client base.
The OPGW cable market is gaining traction in the South America region due to the improvement in economic health of the region and increasing demand for internet and increased electricity generation. Additionally, various key players in the OPGW cable market are investing in the region for the installation of OPGW cable in transmission networks.
Prysmian Group, Fujikura Group, Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Ltd., Sterlite Technologies Limited, ZTT International, and Tratos among others are some of the major players operating in the OPGW cable market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling. Key market players are establishing partnerships, entering into strategic M&A, and expanding to enhance their OPGW cable offerings worldwide.
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The global OPGW cable market is segmented as follows:
OPGW Cable Market, by Application
- Below 220 KV
- 220-500 KV
- Above 500 KV
OPGW Cable Market, by Type
- Layer stranding structure
- Central tube design
Global OPGW Cable Market, by Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America