More than just cables: systems and solutions set to electrify the future

The race is on. Nexans is becoming an Electrification Pure Player by 2024 — leading the charge to a safer, sustainable, renewable, decarbonized and accessible new world of electrical energy.

To get there, Nexans is simplifying its 34 subsectors into 12 to better focus its resources to amplify its role in electricity generation, transmission, distribution and usage. This unique new positioning enables Nexans to scale up and specialize assets on an ecosystem that will represent more than 65% of the total cable business in 2030, while providing end-to-end solutions of ongoing electrification challenges.

The wind in our sails

Offshore wind is increasingly profitable com - pared to other renewable technologies and will be a major enabler of sustainable energy transition needed to help countries achieve their Paris Agreement goals over the next few decades.

The acceleration of energy decarbonization presents an incredible opportunity for growth in the offshore wind market, which is expected to expand from EUR 2.5 bn to EUR 8 bn by 20301. While still in its early stages, the development of offshore wind energy — thanks in large part to major cost improvements, strong acceptance and regulatory push for renewables — represents an important market for power cables and Nexans moving forward. Many countries such as the U.S, UK and China are accelerating their plans for increased offshore wind projects which also include floating wind farms in deeper waters. And Nexans will support this growing market with increases in cable production capacity as well as installation services using our new state of the art cable laying vessel, Nexans Aurora.

We’re all connected

As offshore windfarms rise up, ensuring continuity of energy supply for countries is critical. High-voltage interconnectors are important facilitating technology for leveraging offshore wind to successfully meet climate commitments. They run under the sea, underground or via overhead cabling to connect the electricity networks (highways) within and between two countries. This allows the trading and sharing of surplus energy from any source. The interconnection cable market — including the design, manufacturing and installation of cables on land and subsea to exchange power — will grow as well to an estimated EUR 5 bn by 2030(1).

Useful for utilities

Trillions of euros of infrastructure investments have been announced across Europe, U.S. and Asia. These investments support the needed renewables development, like Wind as well as grid modernization to prevent power blackouts due to the average age of electricity grids in Europe and North America are now more than 40 years. This key area of electrification is expected to see significant market growth — about 4.2%1 a year over the next decade. Here too, Nexans is well positioned to support updated distribution needs and demand that depend on the modernization of infrastructure.

The building market

Significant growth of the building cable market is anticipated due to the increase of a growing electrified population as well as new electricity usages such as e-mobility . In emerging countries, the market is expected to reach EUR 81 bn by the end of the 2020s(1). In industrial countries, the need is more focused on building modernization — in particular, those built in the 1970s and 1980s with PVC cables that can propagate fire and toxic smoke. There is a rising focus on safety.

The need for increased connectivity in and between these structures will also be paramount. In both marketplaces — emerging and industrial — Nexans differentiation and product innovation are poised to make a big difference.

Already today, Electrification markets represent more than 70% of world cable demand The opportunity for Nexans to transition to an electrification pure player is clear based on future market growth. However, we need to capture this opportunity by ensuring we continue to provide exceptional value to our customers.

(1) — Electrification Market Study, Roland Berger, 2021

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