High Voltage Cable Market Trends

High Voltage Cable Market Surges to New Heights: Robust Growth Projected through 2027

WILMINGTON, DELAWARE, UNITED STATES, December 16, 2023 /EINPresswire.com/ -- The global high voltage cable is witnessing substantial growth driven by increasing demand for efficient and reliable power transmission systems across various industries. As nations continue to invest in modernizing their energy infrastructure, high voltage cables play a pivotal role in facilitating the efficient transmission of electricity over long distances. Factors such as the growing emphasis on renewable energy sources, expanding urbanization, and the need for grid reliability contribute to the market's expansion. Major players in the high voltage cable sector are continually innovating to enhance cable technologies, ensuring higher transmission capacities and improved performance.

The Global High Voltage Cable Market size was valued at $14.6 billion in 2019, and is projected to reach $23.4 billion by 2027, registering a CAGR of 6.0% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞: https://www.alliedmarketresearch.com/request-sample/1535

Additionally, government initiatives aimed at upgrading power distribution networks and integrating renewable energy sources further fuel the market's development. The escalating demand for electricity, coupled with ongoing technological advancements, positions the high voltage cable market for sustained growth in the foreseeable future.

High voltage cables are used to transfer electricity from power plants to power grids, or directly to industries at a very high voltage. The market is driven by the industrialization and urbanization in developing countries such as China, Japan, and India. An increased number of renewable energy projects, such as wind and solar power plants, have also supplemented the high voltage cables market growth. One of the restraints associated with the HVC market is the volatile pricing of metals such as copper and aluminum. However, growth in investments for smart grid technology and increase in the number of offshore power projects in developing countries are expected to create numerous opportunities for the growth of the HVC market. Asia-Pacific was the highest revenue contributor in the high voltage cable market and is estimated to grow at a CAGR of 7.0%.

𝐆𝐞𝐭 𝐚 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-for-customization/1535

Based on type, the high voltage cable market is segmented into overhead, underground, and submarine. The underground and submarine segments collectively accounted for around 89.7% market share in 2019, with the former constituting around 51.5% share. The submarine and underground segments are expected to witness significant CAGRs of 7.3% and 5.5%, respectively, during the forecast period. The cumulative share of these two segments was 89.7% in 2019, and is anticipated to reach 91.6% by 2027.

The industrial, renewable energy, and infrastructure sectors are considered as the end user of HVC. The industrial and renewable energy segments collectively accounted for around 84.6% market share in 2019, with the former constituting around 43.4% share. The infrastructure and renewable energy segments are expected to witness significant CAGRs of 7.9% and 6.9%, respectively, during the forecast period. The cumulative high voltage cable market share of these two segments was 56.6% in 2019, and is anticipated to reach 61.9% by 2027.

𝐏𝐫𝐞𝐬𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞: https://www.alliedmarketresearch.com/press-release/high-voltage-cable-market.html

Based on geography, the high voltage cables market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific and Europe collectively accounted for around 68.6% share in 2019, with the former constituting around 43.7% share. LAMEA and Asia-Pacific are expected to witness considerable CAGRs of 7.4% and 7.0%, respectively, during the forecast period. The cumulative share of these two segments was 54.3% in 2019, and is anticipated to reach 58.9% by 2027.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The High Voltage Cable industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐇𝐢𝐠𝐡 𝐕𝐨𝐥𝐭𝐚𝐠𝐞 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,
• TELE-FONIKA Kable S.A.
• Prysmian Group
• Southwire Company, LLC
• Dubai Cable Company Pvt. Ltd.
• Nexans
• Siemens AG
• Sumitomo Electric Industries, Ltd.
• TBEA Co. Ltd.
• NKT Cables
• HITACHI, LTD.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1535

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲
• The underground and submarine segments collectively accounted for around 89.7% market share in 2019, with the former constituting around 51.5% share.
• Asia-Pacific and Europe collectively accounted for around 68.1% share of the industrial high voltage cable market in 2019, with the former constituting around 44.8% share.
• The Asia-Pacific and Europe collectively accounted for around 68.6% share in 2019, with the former constituting around 43.7% share.
• LAMEA and Asia-Pacific are expected to witness considerable CAGRs of 7.4% and 7.0%, respectively, during the forecast period.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Allied Analytics LLP
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