Global High Voltage Cable Market size is projected to be valued $53.5 Billion by 2025; with a CAGR of 6.2% from 2017 to 2025. High voltage cable (HVC) is used for high voltage electric power transmission over long distances. Wide application areas such as overhead lines, underground cables, and submarine cables pose a huge demand for high voltage cables. Various features such as the presence of additional insulation jacket that minimizes power loss, and enhanced stability in comparison to other cables have increased its penetration in the market.
The major factors driving the global high voltage cable market are growth in industrialization & urbanization and rise in trend of underground wiring. However, the high price of metals such as aluminium and copper would act as a restraint for the market. Though, a surge in number of offshore power projects and increasing government investments in smart grid technology would generae future opportunities for the market in the coming years.
Product type and end-user are the different bifurcations of the global high voltage cable market. By product type, the market is further segmented into overhead, submarine, and underground. The end-user segment is further categorized into renewable energy, industrial, and infrastructure.
Geographically, the global high voltage cable market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, Italy, Sweden, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the high voltage cable market are Siemens AG, General Cable Technologies Corporation, TELE-FONIKA Kable S.A, Prysmian Group, ABB, Dubai Cable Company Private Limited, Southwire Company, LLC, NKT Cables, Sumitomo Electric Industries, Ltd., and Nexans S.A., among others.
The key takeaways from the report
Scope of the Global High Voltage Cable Market
Product Type Segments
End User Type Segments