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High Voltage Cables Market Size

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

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High Voltage Cables Market Size

High Voltage Cables Market was valued at USD 39.7 billion in 2023 and is set to grow at a CAGR of 2.6% from 2024 to 2032. The growing demand for refurbishment of the existing electrical infrastructure along with increasing investments in the development of grid networks will complement the industry outlook. The lack of efficient power infrastructure across developing nations in line with a shifting focus toward the enhancement of existing grid networks has further instituted a favourable business scenario.

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The incursion of advanced submarine & underground cable technologies has instituted a sustainable business platform. In addition, favourable consumer inclination toward the deployment of the products to safeguard the living environment along with greater life expectancy of the electric infrastructure will positively sway the industry outlook. Furthermore, economical costs, product reliability, and safe operations are some of the key parameters anticipated to boost the industry landscape.

High Voltage Cables Market Report Attributes
Report Attribute	Details
Base Year:	2023
High Voltage Cables Market Size in 2023:	USD 39.7 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	2.6%
2032 Value Projection:	USD 48.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	120
Tables, Charts & Figures:	15
Segments covered:	Voltage, Current, Installation, & Region
Growth Drivers:	Refurbishment & retrofit of existing grid infrastructure Expansion of micro-grid networks Integration of a sustainable electrical network
Pitfalls & Challenges:	Slow paced technological evolution across developing regions

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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.