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Asia Pacific HVDC Cables Market Size

Report ID: GMI8818
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific HVDC Cables Market

Asia Pacific HVDC Cables Market was valued at USD 2.3 billion in 2023 and is anticipated to grow at a CAGR of 12.1% from 2024 to 2032, due to the increasing demand for efficient long-distance power transmission, renewable energy integration, and grid modernization initiatives.

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Growing intra-regional connections among countries in the Asia Pacific region further stimulate market growth, facilitating the exchange of electricity across borders to support regional energy security and sustainability goals. Additionally, government initiatives promoting clean energy adoption contribute to the expanding HVDC cables market in the Asia Pacific region.

Asia Pacific HVDC Cables Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific HVDC Cables Market Size in 2023:	USD 2.3 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	12.1%
2032 Value Projection:	USD 5.9 Billion
Historical Data for:	2019 to 2023
No. of Pages:	190
Tables, Charts & Figures:	211
Segments covered:	Voltage, Installation, Application
Growth Drivers:	Rising urbanization and industrialization Rising need for energy efficiency
Pitfalls & Challenges:	High initial costs Adverse impact on the environment

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Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific HVDC cables was reached USD 2.3 billion in 2023 and is expected to register 12.1% CAGR from 2024 to 2032, owing to the increasing demand for efficient long-distance power transmission, renewable energy integration, and grid modernization initiatives worldwide.

The high voltage HVDC cables segment is expected to exceed USD 4 billion by 2032 owing to increasing investments in renewable energy projects and the need for efficient long-distance power transmission solutions.

China HVDC cables battery industry is expected to reach over USD 1.8 billion by 2032 due to increasing investments in renewable energy projects, necessitating efficient long-distance power transmission solutions in the country.

LS Cable & System Ltd., Mitsubishi Electric Corporation, Nexans, NKT A/S, Prysmian Group, Siemens Energy, Sumitomo Electric Industries, Ltd., Taihan Cable & Solution Co., Ltd., TOSHIBA CORPORATION, ZMS CABLE, and ZTT, are some of the major HVDC cables companies in Asia Pacific.