Underground High Voltage Cable Market Analysis

Underground High Voltage Cable Market Analysis

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Based on voltage, the > 220 kV underground high voltage cable industry is anticipated to surpass USD 38 billion by 2032. Voltage rating is regarded as a standard industry protocol for deploying electrical components, depending on the application, regulatory preferences, and the category of technologies involved.
 

Based on current, the HVDC industry will grow at a rate of over 5.8% through 2032. This growth is attributed to the higher adoption of conductors and the reduced losses at high transmission compared to AC cables. Additionally, the installation cost of HVAC cables rises with increasing distance, making HVDC transmission more cost-effective for long-distance transmission between two points, thereby directly contributing to the HVDC industry's expansion.
 

Asia Pacific underground high voltage cable market is anticipated to exceed over USD 35 billion by 2032. The growing demand for reliable and uninterrupted power supply, along with increased efforts toward electrifying remote locations, will drive market growth in the Asia Pacific region. Emerging economies such as China and India will contribute to regional growth due to increasing investments in upgrading and expanding electric infrastructure and power capacities.
 

The electric power transmission and distribution (T&D) infrastructure in the U.S. necessitates the expansion and upgrading of transmission links across the region. Increasing peak load demand and aging power equipment are driving leading manufacturers to install technologically advanced products for improved power stability and efficiency. Additionally, rising concerns about grid safety, reliability, and security have significantly boosted the number of upcoming projects in the region.