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High Voltage Cables Market Analysis

Report ID: GMI3376
Published Date: Aug 2024
Report Format: PDF

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High Voltage Cables Market Analysis

High Voltage Cables Market Size, By Voltage, 2022 - 2032, (USD Billion)

Based on voltage, the > 220 kV voltage rating cables market is projected to surpass over USD 46 billion by 2032. The growing energy demand along with a positive consumer inclination for a sustainable power network will augment the industry landscape. Voltage rating is considered a standard industry protocol for the deployment of electrical components, depending on the application, regulatory preference, and the category of technologies to be enclosed.

High Voltage Cables Market Revenue Share, By Current, 2023

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Based on current, the HVDC industry will grow at CAGR of over 3.5% through 2032. HVDC hold the majority share of the overall high voltage cables industry on account of higher conductor adoption along with limited losses at high transmission when compared to AC cables. Moreover, the installation cost of HVAC cables increases with increasing distance, therefore, HVDC transmission is used for transmission over long distances between two points, directly contributing to the HVDC industry.

Asia Pacific High Voltage Cables Market Size, 2022 - 2032, (USD Billion)

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Asia Pacific high voltage cables market is projected to surpass USD 30 billion by 2032. The rising demand for reliable and uninterrupted power supply along with increasing measures toward the electrification of remote locations will propel the Asia Pacific market growth. Emerging economies consisting of China & India will result in regional growth owing to increasing investments in upgrading & expansion of electric infrastructure and power capacities. Changing power consumption patterns in corporations and households will further boost industry growth. The rising concerns about reliability and grid safety will significantly enhance the product demand.

Electric power T&D infrastructure in the U.S. is inclined toward requirement of expansion and upgradation of transmission links across the region. Growing peak load demand along with aging power equipment will focus leading manufacturers to install technological advanced product for better power stability and efficiency.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

High voltage cables market size was USD 39.7 billion in 2023 and is expected to register 2.6% CAGR from 2024-2032 owing to the growing demand for refurbishment of the existing electrical infrastructure along with increasing investments in the development of grid networks worldwide.

High voltage cables industry from the > 220 kV voltage rating segment is expected to exceed USD 46 billion by 2032 due to growing energy demand along with a positive consumer inclination for a sustainable power network.

Asia Pacific high voltage cables industry is expected to reach over USD 30 billion by 2032 due to rising demand for reliable and uninterrupted power supply along with increasing measures toward the electrification of remote locations in the region.

Ducab, Jeddah Cables, Nexans, NKT A/S, Power Plus Cable Co. L.L.C, Prysmian Group, Riyadh Cables, Southwire Company, LLC, Sumitomo Electric Industries, Ltd., Taihan Cables & Solution Co., Ltd., TF Kable, Tratos, ZMS Cable, and ZTT, are some of the major high voltage cables companies worldwide.