Global High Voltage Cable Market is estimated to reach $52 billion by 2024; growing at a CAGR of 6.3% from 2016 to 2024. High voltage cable (HVC) is used for high voltage electric power transmission over long distances. Wide application areas such as overhead lines, underground cables, and submarine cables pose a huge demand for high voltage cables. Rise in urbanization and growing industrialization coupled with rise in wind and solar power plants have supplemented the growth of the HVC market. Various features such as presence of additional insulation jacket that minimizes power loss, and enhanced stability in comparison to other cables have increased its penetration in the market.
Growth in industrialization & urbanization, and rise in trend of underground wiring are the major factors driving the global high voltage cable market. However, high price of metals such as aluminium and copper would act as a restraint for the market. Surge in number of offshore power projects and increasing government investments in smart grid technology would provide several growth opportunities for the market in the coming years.
The global high voltage cable market has been segmented on the basis of product type and end user. By product type, the market is further segmented into overhead, submarine, and underground. By end user, the market is categorized into renewable energy, industrial, and infrastructure.
Based on geography, the global high voltage cable market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, Italy, Sweden, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the high voltage cable market are TELE-FONIKA Kable S.A, Prysmian Group, ABB, Siemens AG, General Cable Technologies Corporation, Dubai Cable Company Private Limited, Southwire Company, LLC, NKT Cables, Sumitomo Electric Industries, Ltd., and Nexans S.A., among others.
The key takeaways from the report
- The report will provide detailed analysis of High Voltage Cable Market with respect to major segments such as product type, and end user
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities of the global High Voltage Cable Market
- An exhaustive regional analysis of High Voltage Cable Market from 2015 to 2024 has been included in the report
- Profile of the key players in the High Voltage Cable Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of High Voltage Cable Market
Product Type Segments
End User Type Segments
- Renewable energy
- Oil & gas
- Power utilities
- Chemical & petrochemical
- Commercial sector
- Residential sector
- North America
- South Korea
- South America
- Middle East