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Asia Pacific HVDC Cables Market
Asia Pacific HVDC Cables Market was valued at USD 2.3 billion in 2023 and is anticipated to grow at a CAGR of 12.1% from 2024 to 2032, due to the increasing demand for efficient long-distance power transmission, renewable energy integration, and grid modernization initiatives.
Growing intra-regional connections among countries in the Asia Pacific region further stimulate market growth, facilitating the exchange of electricity across borders to support regional energy security and sustainability goals. Additionally, government initiatives promoting clean energy adoption contribute to the expanding HVDC cables market in the Asia Pacific region.
How big is the Asia Pacific HVDC cables market?
The market size of Asia Pacific HVDC cables was reached USD 2.3 billion in 2023 and is expected to register 12.1% CAGR from 2024 to 2032, owing to the increasing demand for efficient long-distance power transmission, renewable energy integration, and grid modernization initiatives worldwide.
Why is the demand for high voltage HVDC cables growing in Asia Pacific?
The high voltage HVDC cables segment is expected to exceed USD 4 billion by 2032 owing to increasing investments in renewable energy projects and the need for efficient long-distance power transmission solutions.
How big is the China HVDC cables market?
China HVDC cables battery industry is expected to reach over USD 1.8 billion by 2032 due to increasing investments in renewable energy projects, necessitating efficient long-distance power transmission solutions in the country.
Who are the key leaders in the APAC HVDC cables battery industry?
LS Cable & System Ltd., Mitsubishi Electric Corporation, Nexans, NKT A/S, Prysmian Group, Siemens Energy, Sumitomo Electric Industries, Ltd., Taihan Cable & Solution Co., Ltd., TOSHIBA CORPORATION, ZMS CABLE, and ZTT, are some of the major HVDC cables companies in Asia Pacific.