High Voltage Cables Market Analysis

High Voltage Cables Market Analysis

In terms of voltage, the <110 kV high voltage cables market is slated to depict around 14% growth rate between 2022 and 2030. 110kV voltage cables can operate under extreme conditions and have flexible product configurations and aesthetic proximity, fostering product installation under the <110kV category. The rising product deployment in small-scale industrial refurbishment projects and large-scale commercial expansion will spur segment expansion.

Based on the current, the HVAC segment held over 59% of the high voltage cables market share in 2021. The rising focus on developing an improved electric infrastructure and the growing investments in building efficient electric networks will push the adoption of HVAC cables. Besides, the synchronous mandates and reforms aimed at enhancing the overall performance and ampacity of power transmission.
 

Regarding installation, the submarine segment is predicted to observe nearly 20% gains till 2030. The ever-growing demand for sustainable energy sources and the increasing investments focused on the commissioning of offshore wind farms will propel segment revenues during the assessment timeframe. Governments across several economies have been rolling out favorable policies promoting the deployment of high & ultra-high transmission lines.
 

Europe high voltage cables industry is poised to exhibit more than 3% CAGR through 2030. The increasing inclination toward clean and sustainable energy sources and an increased emphasis on mitigating GHG emissions and employing energy-efficient technologies will foster the regional landscape. A supportive regulatory framework toward offshore wind technology and stringent emission mandates in the region will fuel product deployment across region.