High Voltage Cables Market Analysis | 2023-2028

Market Insights

The high voltage cables market was estimated at USD 38.92 billion in 2022 and is likely to grow at a CAGR of 3.39% during 2023-2028 to reach USD 47.7 billion in 2028.

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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.

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.

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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.

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Segment Analysis

By Voltage Type

"The 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.

Regional Insights

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

North America is estimated to be the largest market, whereas Asia-Pacific is likely to be the fastest-growing 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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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s high voltage cables market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our high voltage cables market report from the industry stakeholders, we have tried to further accentuate our research scope to the high voltage cables market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

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 1000 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 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

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

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. 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 high voltage cables market is segmented in the following ways:

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, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report 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 to sales@stratviewresearch.com.