High Voltage Cables Market Growth Analysis | 2022-28

Market Insights

The high voltage cables market is likely to grow from USD 37.5 Billion in 2021 to reach USD 47.7 billion by 2028 at a healthy CAGR of 3.44 % during the forecast period.

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What is a high voltage cable?

A high-voltage cable (HV cable) is a cable used for electric power transmission at high voltage which is widely used in power transmission utilities and many other industries involved in water, renewable energy, nuclear and thermal power.

Drivers

These factors are expected to boost the demand for the market in the coming year:

• The growing demand for high voltage cables is mainly due to rapid commercialization and rising population leading to increased energy consumption.
• In comparison to other alternatives, high voltage cables with a high current carrying capacity over long distances are favoured for these networks.
• Due to increasing grid connectivity demand and increased investment in the new high voltage cables and accessories industry, the high voltage cable and accessory market is developing.

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Key Players

Some of the major manufacturers are-

• Elsewedy Electric
• ZTT
• Prysmian Group
• Nexans
• Sumitomo Electric Industries, Ltd.
• LS Cable & System
• NKT
• Furukawa Electric
• Sterlite Power
• KEI Industries Limited

Segment Analysis

By Voltage Type

The market is segmented as 50 kV – 110 kV, 115 kV – 330 kV and > 330 kV. The 50 kV – 110 kV segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Retrofitting of small-scale industries and large-scale commercial expansion across developing countries has led to the dominance of the segment.

By Application Type

The high voltage cables market is segmented as utility and industrial. The utility segment leads the market owing to growth in population giving rise to increasing consumption of energy, is a major reason for dominance of this segment.

By Region

North America is estimated to be the largest, whereas Asia-Pacific is likely to be the fastest-growing high voltage cables market during the forecast period. The U.S. Government proposed to invest US$ 10 billion to develop new transmission networks to decrease the curtailment rate. China and India are the key countries of the Asia-Pacific region offering lucrative growth opportunities over the forecast period.

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Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. 

The market is segmented into the following categories. 

By Voltage Type:

• 50 kV – 110 kV 
• 115 kV – 330 kV 
• > 330 kV 

 By Application Type:

• Utility 
• Industrial 

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle and supply chain analysis
• Report environment analysis: Growth drivers and constraints, Porter’s five forces and SWOT analysis
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the voltage types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.