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Europe HVAC Cables Market Size By Voltage (110 kV - 220 kV, > 220 kV), By Installation (Overhead, Submarine, Underground), COVID-19 Impact Analysis, Country Outlook, Competitive Market Share & Forecast, 2022 - 2030

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Europe HVAC Cables Market Size

Europe HVAC Cables Market size valued at USD 4 billion in 2021 and is anticipated to grow at over 101% AGR from 2022 to 2023. Rising investments toward the development of offshore renewable power projects coupled with the growing customer inclination towards adoption of subsea power cables will complement the industry growth. The ongoing technological enhancement in order to cater rising power outages along with to supply electricity with minimal power loss will positively sway the business scenario.
 

Europe HVAC Cables Market

Europe HVAC Cables Market Analysis

Europe HVAC Cables Market Size, By Installation

The overhead HVAC cables market in Europe is poised to generate USD 1 billion revenue by 2030. Restructuring and revamping of transmission infrastructure with upgradation of electrical network will bolster the market statistics. Government norms and policies to deploy smart grid infrastructure and stringent regulations to enhance green electricity share across the region. The ongoing project commissioning of inter-country and state power line connections in line with rising high transmission cables demand to overcome the regional energy requirements will propel the market potential.
 

Increasing offshore wind farms establishments across the sea connected countries together with ongoing government emphasis towards the development of offshore wind energy will drive the submarine HVAC cables market revenue. According to National grid, in 2021, wind power energy generated over 21% UK total electricity which has created a huge impact toward the renewable power. The growing expansion of island connections coupled with rising inter-country transmission networks has further initiated a positive industry outlook.
 

110 kV – 220 kV HVAC cables segment is projected to register revenue of over USD 240 million by 2021. The continuous development of the medium scale industrial establishment in line with growing demand for short distance cables for effective transmission will spur the market share. The increasing need for retrofitting and rescaling of manufacturing power plants will boost the HVAC cables market in the region. Moreover, strict government norms to minimize GHG emission followed by development of high-power production wind farms to generate traction in product adoption.
 

Rising power outages, harmonic fluctuations, weather-related disasters, and brownouts are major unavoidable factors inclined toward replacements and restorations of transmission networks. For instance, Nexans launched a high voltage cable solution with an advanced 380 kV AC cable which comprises of enameled wire conductor combined with improved reliability and low power losses. Ongoing technological enhancements to overcome the rising mechanical and electrical losses across power grid coupled with growing consumer inclination for uninterruptible power supply will complement the adoption of > 220 kV HVAC cables.
 

The continuing applicability of high voltage AC cables across the short-distanced electricity supply, low maintenance cost, effective asynchronous interconnection, as well as better controllability will fuel the installation growth. The increasing penetration for safe, continuous, reliable and power supply owing to the implementation of new technology with negligible environmental damages will further enhance the industry landscape. Re-industrialization and digitization across European region including UK, Germany and France with rising electricity consumption across the communication-based stations and data centers will significantly integrate a positive market value.
 

Europe HVAC cables market observed low or marginal COVID-19 impact led by ongoing construction activities across the electricity sector and strict renewable based targets to fulfill the green energy demand.
 

Europe HVAC Cables Market Share

Germany HVAC cables market is set to surge on account of increasing demand for a reliable electric infrastructure with ongoing development of transmission grid network. The rising investment toward development and refurbishment of conventional power lines will propel the market demand. Increasing number of transmission projects which includes installation of overhead and submarine transmission lines will boost the regional business.
 

Europe HVAC Cables Market Share

Continuous mergers and acquisition together with the favorable government policies toward technology adoption will drive the market size. Increasing investment plans by the major cable manufacturers toward the supply of power lines will augment the market growth.
 

Major players operating across the Europe HVAC cables market includes :

  • Prysmian Group
  • Power Plus Cable
  • Elsewedy Electric
  • Ducab
  • Sumitomo Electric
  • alfanar Group
  • NKT A/S
  • ZTT
  • Hellenic Cables Group
  • Nexans
  • Brugg Cables
  • TF Kable
  • Furukawa Electric
  • Tratos
     

This market research report on Europe HVAC cables includes in-depth coverage of the industry with estimates & forecast in terms of “km” & “USD” from 2018 to 2030, for the following segments:

Market, By Voltage

  • 110 kV – 220 kV
  • > 220 kV

Market, By Installation

  • Overhead
  • Submarine
  • Underground

The above information has been provided for the following country:

  • Germany
  • Spain
  • Italy
  • Netherlands
  • Belgium
  • Austria
  • Lithuania
  • Poland
  • UK
  • Rest of Europe

 

Authors: Ankit Gupta, Shubhankar Dimri
Frequently Asked Question(FAQ) :
Which are major companies in the Europe HVAC cables landscape?
Prominent players in the industry comprise NKT A/S, Power Plus Cable, TF Kable, ZTT, Ducab, Nexans, Hellenic Cables Group, and others.
How will the HVAC cables sector fare in Germany?
How big is the Europe HVAC cables market?
Why is the overhead HVAC cables segment growing in Europe?
Europe HVAC Cables Market Scope
  • Europe HVAC Cables Market Size
  • Europe HVAC Cables Market Trends
  • Europe HVAC Cables Market Analysis
  • Europe HVAC Cables Market Share
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    Authors: Ankit Gupta, Shubhankar Dimri
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    Premium Report Details

    Base Year: 2021

    Companies covered: 17

    Tables & Figures: 205

    Countries covered: 9

    Pages: 185

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