HVDC Cables Market Size By Voltage (High {35 kV to 475 kV}, Extra High {> 475 kV to 600 kV}, Ultra-High {> 600 kV}), By Installation (Overhead, Submarine, Underground), By Application (Intra-regional, Cross Border) Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2027

Published Date: Mar 2021  |  Report ID: GMI3510  |  Authors: Ankit Gupta, Riya Gupta

Report Format: PDF   |   Pages: 250   |   Base Year: 2020

Summary Table of Contents Industry Coverage Methodology

Industry Trends

HVDC cables market size surpassed USD 8 billion in 2020 and is set to exceed annual deployment of 11,000 km by 2027. A high-voltage direct current cable is a cable used for bulk electric power transmission for long distance. A cable includes a conductor and insulation and is suitable for being run underground or underwater. Expansion of smart grid networks along with modernization and upgradation of existing grid infrastructure will drive the industry scenario.

HVDC cables market
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HVDC Cables Market Report Coverage
Report Coverage Details
Base Year:2020
Market Size in 2020:8.12 Billion (USD)
Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:-3%
2027 Value Projection:4.78 Billion (USD)
Historical Data for:2017 to 2020
No. of Pages:250
Tables, Charts & Figures:407
Segments covered:Voltage, Installation, Application
Growth Drivers:
  • North America and Europe
    • Stringent energy efficiency reforms
    • Expansion of smart grid networks
    • Refurbishment & retrofit of existing grid infrastructure
  • Asia Pacific
    • Rising peak load demand
    • Expansion of micro-grid networks
    • Grid stability & security of supply concerns
  • Rest of the World
    • Increasing electricity demand
    • Integration of a sustainable electrical network
Pitfalls & Challenges:
  • Slow paced technological evolution across developing regions
  • High dependency on imports

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Ongoing development of long route transmission lines will complement the market trends

HVDC Cables Market

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Extra high voltage DC cables are estimated to surpass USD 380 million by 2027. Ongoing development of long route transmission lines to cater rising electricity demand across the secluded areas will complement the industry dynamics. In addition, ongoing technological advancements to deploy advanced and energy efficient transmission lines will sway the product demand. Moreover, rising demand for high super conducting cables will compel the utilities to deploy these units across the long-distance transmission networks.

High voltage segment of HVDC cables market is anticipated to surge on account of high-power transmission capacity, lightweight, low maintenance and handling cost. The cable industry is governed by several sets of guidelines and mandates, inclining industry participants toward manufacturing standardized and energy efficient product. In addition, growing electricity demand across power deficit areas has been prime focus for industry leaders and regulators owing to significant potential for business expansion and growth.

Increasing capital expenditure to deploy offshore wind farms will improve the demand for subsea HVDC power cables

Increasing capital expenditure to deploy offshore wind farms along with rising sustainable power demand across the developed & developing regions will drive the submarine HVDC cables market. Expansion of island interconnections followed by safe & reliable offshore transmission will thrust the technological adoption. For instance, in June 2020, Siemens Gas & Power bagged an order worth over USD 450 million to install 300 km long HVDC link across mainland Greece. Furthermore, rising public and private investments to deploy advanced transmission lines followed by government efforts to adopt renewable energy assets will reinforce the business potential.

Overhead HVDC cables installation is projected to surpass an annual deployment of 6,500 km by 2027. Increasing product installation across landlocked areas followed by easy availability and lower product cost has inclined the customers toward technology adoption. Paradigm shift toward grid modernization and upgradation to provide efficiency energy solutions across the grid has further influenced the industry scenario. Positive policy interventions coupled with favorable sectoral schemes to integrate renewable power sources have further strengthened the electrical industry size. In addition, ongoing project pipeline to deploy HVDC cables to serve inter-regional power demand will positively sway the business potential.

Government efforts to reconstruct the existing transmission and distribution lines will positively sway the HVDC cables industry trends

Increasing inter-regional and extra-regional trade agreement among various power surplus and deficit states will drive the business scenario. Government efforts to rebuild the existing transmission and distribution lines & towers along with favorable incentives to install energy efficient solutions across the grid network will drive the inter-regional HVDC cables market forecasts. Rising demand for safe, reliable & secure electricity supply favored by minimal environmental damage with low carbon emissions will positively stimulate the industry landscape. In addition, improved operational efficiency through minimizing overall transmission losses as well as efficient power supply will fuel the business outlook.

Asia Pacific HVDC cables market is anticipated to grow on account of rising peak load demand coupled with expansion of micro-grid networks

Asia Pacific HVDC Cables Market

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Rising demand for reliable and continuous electricity along with growing measures toward electrification across remote locations will drive the Asia Pacific HVDC cables market share. Emerging economies including China and India will lead the regional growth on account of ongoing investments toward expansion and upgradation of power capacities and electric infrastructure. Changing power consumption patterns in households and corporations will boost the industry statistics. The growing concerns toward grid safety and reliability have significantly raised the product demand.

Japan high voltage direct current cables market is expected to grow on account of increasing investments for clean energy network followed by rising number of submarine power cable projects across the region. Growing demand for advanced submersible cables across the offshore platforms to provide effective power supply will augment the business scenario. Increasing investment toward rebuilding of transmission lines and towers across the existing infrastructure will sway the industry dynamics.

Ongoing inorganic partnerships and ventures will enhance the industry presence of market players

Despite COVID-19 impact many projects including development of offshore wind power T&D infrastructure have been completed in 2020. However, some of the manufacturers across the non-hotspot areas have resumed partial operations in line with government guidelines and safety measures.

Major participants are witnessing inorganic ventures and growth across the industry. In addition, strong project pipeline followed by consumer inclination toward large scale renewable integration will sway the business scenario. Eminent industrial participants operating across HVDC cables market include Siemens AG, Hitachi, Toshiba Corporation, Mitsubishi Electric Corporation, General Electric, Sumitomo Electric Industries, Nexans, Iljin, ZTT Gupta Power Infrastructure, ZMS Cable, Prysmian Group, Alfanar, Taihan Electric Wire, LS Cable & System, ABB and NKT.

HVDC cables market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘km’ & ‘USD’ from 2017 to 2027, for the following segments:

By Voltage

  • High
  • Extra High
  • Ultra-High

By Installation

  • Overhead
  • Submarine
  • Underground

By Application

  • Intra-Regional
  • Cross Border
  • Others

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Italy
    • Denmark
    • Norway
    • Ireland
  • Asia Pacific
    • China
    • Japan
    • India
    • Thailand
    • Indonesia
  • Rest of the World
    • Brazil
    • Oman


Frequently Asked Questions (FAQ) :

The market revenue for HVDC cables was recorded at over USD 8 billion in 2020 and will surpass 11,000 km in terms of deployment by 2027.
HVDC overhead cables market will record an annual deployment of over 6,500 km by 2027 owing to their lower cost and easy availability.
With rising demand for safe and reliable electricity supply and government initiatives towards rebuilding the existing transmission and distribution lines, the inter-regional HVDC cables industry will grow substantially.
Asia Pacific market size will expand owing to increasing demand for continuous electricity and increasing measures toward electrification across the region.

Premium Report Details

  • Published Date: Mar 2021
  • Pages: 250
  • Tables: 379
  • Charts / Figures: 28
  • Companies covered: 16
  • Countries covered: 15

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