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High Voltage Cables Market Trends

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

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High Voltage Cables Market Trends

The rapid commercialization to upscale the overall economic growth, followed by foreign direct investment schemes to support industrial & commercial establishments will augment the demand for complex and reliable grid infrastructures. In addition, continuous digitalization across the industrial peripheral has appreciably infused a competitive industrial scenario on account of increasing energy demand from communication base stations & data centres. The increasing adoption of advanced, reliable, energy-efficient, and secure fire-resistant electric components has instituted a favourable business scenario.

Furthermore, the integration of renewable energy networks has enabled utilities and installers to focus on restructuring the existing electrical infrastructure. Conventional systems are being developed and enhanced, depending on the resonating frequencies and bandwidths to sustain the volatility of the renewable networks.

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.