High Voltage (HV) Cable Market Overview

The global High-Voltage (HV) Cable market size was estimated at USD 40.5 billion in 2023 and is projected to reach USD 59.3 billion in 2030 at a CAGR of 5.6% during the forecast period 2023-2030.

High voltage cables are utilized for the transmission and distribution of power at elevated voltages. These cables possess structural components comprising of one or more conductors, protective jackets, and insulators. An important structural divergence that sets high voltage cables apart from other cable types is the existence of additional internal layers within the insulation jacket that facilitate the control of electric flow surrounding the conductor. This attribute assists in mitigating power losses during long-range transmissions, thereby rendering high voltage cables more efficient than their counterparts in power transmission. High voltage cables may be installed as overhead cables, buried cables in industrial settings, or even submarine cables for power transmission between different states and countries.

The market for high voltage power cables is ultimately dependent on electricity demand across the world. The increasing demand for electricity is further anticipated to bring lucrative growth opportunities for the market. The replacement of the aged grid infrastructure and transmission lines is another factor that drives the growth of the market. Also, the increasing penetration of renewables such as solar energy and wind energy requires setting up new utility grids with new transmission & distribution networks. Therefore, the growing penetration of renewables acts as the market driver for high voltage cables.

Get a Sample Copy of the High Voltage (HV) Cable Market Research Report: https://www.delvens.com/get-free-sample/high-voltage-hv-cable-market

The COVID-19 pandemic has presented a plethora of challenges, including but not limited to health-related concerns, financial setbacks, and various other obstacles. The market for high-voltage cables and accessories on a global scale is significantly contingent upon the demand stemming from a multitude of sources, including but not limited to the construction industry, urbanization initiatives, grid-connection undertakings, and power distribution networks. Nevertheless, the COVID-19 crisis has had a profound impact on the demand for electrical power across the world, primarily due to the imposition of lockdown restrictions by governmental entities with the aim of curbing the spread of the virus. It is worth noting that the production hubs of electricity, namely the United States, India, China, the European Union, and other regions around the world, are majorly responsible for generating the demand for electricity.

Delvens Industry Expert's Standpoint

The escalation in demand for energy due to the growth in population and urbanization has contributed to the expansion of the global high voltage cables market. The upgradation of aged grid infrastructure that was previously able to meet power distribution and transmission requirements is now being substituted with cutting-edge smart grids. The development of these grids necessitates the establishment of new transmission networks that prioritize the usage of high voltage cables with high current carrying capacity over long distances as compared to other options. This trend is anticipated to steer the growth of the global market in the forecast period. The concerns regarding the escalation of greenhouse gas emissions, in conjunction with the mounting demand for energy, have compelled nations to seek out alternative methods of power generation. The most favored sources of energy generation are the renewable ones, specifically wind and solar energy sources. The surge in the utilization of renewables paves the way for the establishment of new transmission lines, which acts as a driving factor for the global market. The reduction of carbon emissions in Europe and North America in the forthcoming years is a planned initiative that will indisputably stimulate the market for renewables and, consequently, high voltage cables.

Key Findings

• On the basis of installations, the worldwide high voltage cables market is divided into three segments, namely overhead, submarine, and underground, based on the type of installation. The proliferation of overhead installation is primarily attributed to its convenient installation process and low transmission losses across extended distances. Furthermore, the economic benefits of these cables, which do not entail complex technologies, account for their widespread adoption.

• On the basis of Analytics, the market is categorized into three segments, namely 100 kV – 250 kV, 251 kV – 400 kV, and above 400 kV. Currently, the 251 kV – 400 kV segment holds the largest market share due to the extensive application of high voltage cables within this voltage range. In developing countries, the power transmission industry is still flourishing, resulting in the increased use of low and medium voltage cables. Consequently, the above 400 kV segment in these countries possesses a relatively minor presence. However, during the forecast period, the 251 kV – 400 kV segment is expected to grow in various regions owing to the substantial installation of these voltage lines. In North America and Europe, the above 400 kV segment is anticipated to witness a rise in their market share, primarily due to technological advancements that support their installation.

• On the basis of end-user, the global market for high voltage cables is bifurcated into two segments, namely utility and industrial, wherein the former serves as the primary source of power for most sectors across the nation, consequently constituting a significant proportion of the market. With the escalation of rural electrification plans, population growth, and urbanization, the end-user demand for electricity has substantially increased. This augmented demand for power has led to the integration of renewable energy sources for power generation, thereby facilitating the installation of new grids required to cater to power needs across distant locations. The industrial sector, particularly the exploration and railways industry, also leverages high voltage cables for their operations. Moreover, the market is expected to experience a positive growth trajectory owing to the proposed plans and presence of metros in diverse parts of the world.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America possesses a limited market share within the industry. However, due to the prevailing replacement of antiquated grids throughout the region, the high voltage cable market is anticipated to experience gradual growth within the area.

High Voltage (HV) Cable Market Regional Analysis

North America to Dominate the Market

• North America possesses a limited market share within the industry. However, due to the prevailing replacement of antiquated grids throughout the region, the high voltage cable market is anticipated to experience gradual growth within the area.
• The exploration endeavors of the oil and gas industry have significantly contributed to the expansion of the industrial sector of the market.

High Voltage (HV) Cable Market Competitive Landscape

• Prysmian Group
• Sumitomo Electric Industries Ltd.
• Nexans
• LS Cable & System Ltd.
• NKT A/S
• Furukawa Electric
• Taihan Cable & Solution Co., Ltd.
• ZTT
• Elsewedy Electric Company
• Wuxi Jiangnan Cable
• Riyadh Cables
• PFISTERER Holding AG
• DUCAB
• TE Connectivity
• Brugg Kabel AG
• KEI Industries Ltd.
• Tratos
• Southwire Company,
• Tele-Fonika Kable SA
• Synergy Cables

Inquire before you purchase to increase your business' revenue: https://www.delvens.com/Inquire-before-buying/high-voltage-hv-cable-market

High Voltage (HV) Cable Market Recent Developments

• In May 2023, The Prysmian Group has issued an announcement pertaining to the triumphant acquisition of a contract with an estimated worth exceeding USD 864.9 million. This contractual agreement is in reference to the initiation of a new power interconnection project between France and Spain, which is set to be implemented for the benefit of INELFE. It should be noted that INELFE is a joint venture that is co-owned by Red Electrica, the Spanish grid operator, and Réseau de Transport d’Électricité (RTE), the French grid operator.
• In April 2023, Nexans finalized the purchase of Reka Kaapeli Oy, for a total of USD 57.29 million. The integration of Reka Cables into Nexans' Distribution & Usage business group was included in the acquisition. Being a part of Nexans presents Reka Cables with the chance to enhance its growth and development, while also enabling increased investments in renewable energy solutions.

Reasons to Acquire in the High Voltage (HV) Cable Market

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the High-Voltage (HV) Cable Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Direct Purchase of High Voltage (HV) Cable Market Report Research Report: https://www.delvens.com/checkout/high-voltage-hv-cable-market

Frequently Asked Questions

What are the years considered to study High Voltage (HV) Cable Market?

What is the compound annual growth rate (CAGR) of the High-Voltage (HV) Cable Market?

Which region holds the largest market share in High-Voltage (HV) Cable Market?

Which region is the fastest growing in High-Voltage (HV) Cable Market?

Who are the major players in High-Voltage (HV) Cable Market?

Browse Related Reports:

Battery Energy Storage System (BESS) Market – Trends Forecast Till 2030

Battery Energy Storage System Market is Segmented by Type (Lithium-Ion Batteries, Lead-Acid Batteries, Nickel Metal Hydride, and Other Types (Sodium-Sulfur Batteries and Flow Batteries)), Application (Residential, Commercial, and Industrial (C&I), Utility-scale) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

Turbines Market – Trends Forecast Till 2030

Turbines Market, by Type (Water Turbine (Impulse Turbine and Reaction Turbine), Steam Turbine (Impulse Turbine and Reaction Turbine), Gas Turbine (Open Cycle Gas Turbine and Combined Cycle Gas Turbine), and Wind Turbine (Onshore and Offshore), Capacity (Small, Medium, and Large), and Application (Industrial, Commercial, and Residential) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

Renewable Energy Market – Trends Forecast Till 2030

Renewable Energy Market by Type (Hydroelectric Power, Wind Power, Bioenergy, Solar Energy, and Geothermal Energy) and End Use (Residential, Commercial, Industrial, and Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

About Us:

Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.

Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.

Contact Us:

UNIT NO. 2126, TOWER B,

21ST FLOOR ALPHATHUM

SECTOR 90 NOIDA 201305, IN

+44-20-8638-5055

[email protected]