• Blog
  • High Voltage Cables Market Analysis | 2023-2028

    High Voltage Cables Market Analysis | 2023-2028

    High Voltage Cables Market Analysis | 2023-2028
    Report code - SRCE208 Delivery - 2 Weeks
    High Voltage Cables Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    "The high voltage cables market size was valued at USD 38.92 billion in 2022 and is forecast to grow to USD 47.7 billion by 2028 at a CAGR of 3.39% during 2023-2028".

    Wish to get a Free Sample? Register Here

    Market Dynamics

    Introduction

    A high voltage cable is a type of electrical cable designed to carry electric power at high voltage levels. These cables are used to transmit and distribute electrical energy over long distances, connecting power stations to substations or linking different parts of a power distribution network. High voltage cables are crucial components of electrical infrastructure, allowing the efficient and reliable transfer of electricity.

    High Voltage Cables Market Report Overview

    Market Size in 2028

    USD 47.7 Billion

    Market Size in 2022

    USD 38.92 Billion

    CAGR (2023-2028)

    3.39%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

     

    Market 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 favored 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.

    To get the full scope of the report, Register Here

    Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Voltage Analysis

    Bars, Flat Products, Tubes, and Others

    The 50 kV – 110 kV segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. 

    Application Type Analysis

    Aerospace, Energy/ Power, Industrial, Electrical & Electronics, Automotive, and Others

    The utility segment leads the market during the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and the Rest of the World

    North America is estimated to be the largest market during the forecast period. 

    By Voltage Type

    "50 kV – 110 kV segment held the largest share of the market in 2022" 

    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 2022 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

    "Utility segment leads the market during the forecast period"

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

    By Region

    "North America is estimated to be the largest during the forecast period" 

    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.

    Want to know which region offers the best growth opportunities? Register Here 

    Key Players

    The following are the key players in the High Voltage Cables Market (arranged alphabetically)

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

    Note: The above list does not necessarily include all the top players in the market.

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    Report Features

    This report provides intelligence most comprehensively. The high voltage cables market 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 and those willing to enter the market.

    What Deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the High Voltage Cables Market 

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and what is their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Research Methodology

    This high voltage cables market report offers high-quality insights and results from 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.

    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.

    Frequently Asked Questions (FAQs)

    A high voltage cable is a type of electrical cable designed to carry electric power at high voltage levels. These cables are used to transmit and distribute electrical energy over long distances, connecting power stations to substations or linking different parts of a power distribution network. High voltage cables are crucial components of electrical infrastructure, allowing the efficient and reliable transfer of electricity.

    The market is forecast to grow at a CAGR of 3.39% during 2023-2028.

    The market size was valued at USD 38.92 billion in 2022 and is forecast to grow to USD 47.7 billion by 2028 at a CAGR of 3.39% during 2023-2028.

    The 50 kV 110 kV segment is expected to remain dominant in the market in the coming years.

    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.

    Elsewedy Electric, ZTT, Prysmian Group, Nexans, Sumitomo Electric Industries, Ltd., LS Cable & System, NKT, Furukawa Electric, Sterlite Power, and KEI Industries Limited are among the key players in the market.