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Asia Pacific HVDC Cables Market Trends

Report ID: GMI8818
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific HVDC Cables Market Trends

Asia Pacific HVDC cables industry is witnessing notable growth on account of various factors including increasing investments in renewable energy projects, driving demand for efficient long-distance power transmission solutions. According to the Chinese government, investments in clean energy constituted 13% of the significant volume of fixed asset investments in China in 2023, marking an increase from 9% the previous year. Additionally, advancements in HVDC technology, such as higher voltage ratings and improved efficiency, are shaping market dynamics.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

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.

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.

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.

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.