HVDC Cables Market Size By Voltage (High {35 kV to 110 kV, > 110 kV to 275 kV, > 275 kV to 475 kV}, Extra High, Ultra High), By Installation (Overhead, Submarine {Offshore Wind Power Generation, Inter Country & Island Connector, Offshore Oil & Gas}, Underground), By Application (Intra-regional {Interstate, Intrastate}, Cross border, Others) Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jul 2019  |  Report ID: GMI3510  |  Authors: Ankit Gupta, Abhigyan Tathagat

Report Format: PDF   |   Pages: 530   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

HVDC Cables Market size in 2018 was over USD 6 billion and is anticipated to surpass an annual installation of 15’000 km by 2025.

U.S. High Voltage Direct Current Cables Market Size, By Voltage, 2018 & 2025 (USD Million)

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HVDC cables market has been influenced on account of increasing demand for outsourced service providers and aging & inadequate transmission infrastructure. In addition, prevailing digitalization has significantly incorporated a positive business outlook on account of rising energy consumption across data centres and communication base stations. According to IEA, the global demand for electricity increased by 4% in 2018. Increasing focus on sustainable energy sources with an aim to achieve energy efficiency will encourage the product adoption.

Brownouts, weather-related disasters, harmonic fluctuations and power outages are the few indispensable parameters that will stimulate the high voltage direct current cables market growth. Ongoing technological advancements with an aim to circumvent mechanical & electrical losses across a network coupled with the rising demand for uninterruptible power supply will augment the overall business potential.

HVDC Cables Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 6 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: -6.7% 2025 Value Projection: 15’000  Km
Pages: 530 Tables, Charts & Figures: 1113
Geographies covered (32): U.S., Canada, UK, France, Italy, Germany, Greece, Norway, Denmark, Ireland, Belgium, China, Japan, South Korea, India, Australia, Indonesia, New Zealand, Malaysia, UAE, Saudi Arabia, Qatar, Kuwait, Oman, Turkey, South Africa, Egypt, Nigeria, Brazil, Peru, Chile, Argentina
Segments covered: Voltage, Installation, Application and Region
Companies covered (19): Siemens AG, Hitachi, Mitsubishi Electric Corporation, General Electric, Toshiba Corporation, Sumitomo Electric Industries, Ltd., ZTT, Nexans, Gupta Power Infrastructure Ltd., ZMS Cable, Alfanar, Prysmian Group, Taihan Electric Wire Co. Ltd., LS Cable & System, ABB Limited, NKT, Hengtong Marine Cable Systems, TF Kable, Ningbo Orient Wires & Cables Limited
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
  • Middle East Africa and Latin America
  • 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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HVDC Cables Market, By Voltage

Extra HV cables are projected to grow over USD 4 billion by 2025. Ongoing expansion of ultra-high transmission lines to sustain losses accumulated from long route electricity supply coupled with large-scale commercial development will drive the industry dynamics. Less utilization of conductors, no sagging losses and effective long-route transmission of power are among the underlying parameters complementing the product penetration.

High Voltage cables will witness growth on account of lightweight, high power transmission capacity, easy handling and high density. The cable industry has been influenced by several sets of regulatory guidelines and mandates, which have standardized the global deployment and manufacturing trends. In the current scenario, electricity deficit areas have been the prime focus for installers and regulators as they pose significant potential for business growth and expansion.

HVDC Cables Market, By Installation

Overhead installation is projected to exceed an annual deployment of 10’800 km by 2025. Rising demand for revamping & upgradation of conventional grid transmission sub-structures will drive the product penetration. Positive policy interventions along with favourable sectoral schemes have strengthened the electrical industry share. In addition, rowing inclination toward the deployment of HVDC cables to suffice inter-regional power demand will further strengthen the business potential.

Submarine installation will gain an upsurge on account of ongoing development of offshore O&G platforms coupled with increasing adoption of offshore wind farms. Expansion of island interconnections favoured by lesser line losses and reliable & safe offshore power transmission will drive the technological adoption. Furthermore, industrial integration pertaining to efficient and economical cable technology along with increasing dependence on renewable energy assets will strengthen the business potential.

HVDC Cables Market, By Application

Minimal short-circuit current, effective asynchronous interconnection, lower losses and better controllability are the few imperative factors that will foster the intra-regional network growth. Rising need for safe & secure electricity supply along with reduced environmental damage will positively influence the industry landscape. Moreover, operational safety through reducing overall transmission losses and efficient power supply will further fuel the business outlook.

Europe HVDC Cables Market Size, By Application (km)
Europe HVDC Cables Market Size, By Application (km)

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Cross-border application will witness growth owing to positive measures for electricity supply across grid-isolated areas and increasing population across cities. The rise in energy demand has driven utilities to upgrade & upscale regional power transmission infrastructure with an objective to ensure reliability & security. Henceforth, burgeoning peak load demand influenced by growing investments toward effective grid networks along with positive regulatory and consumer outlook pertaining to the adoption of variable renewable energy (VRE) will strengthen the industry share.


HVDC Cables Market, By Region

The U.S. HVDC cables market is anticipated to witness substantial growth subject to the proliferation across North American oil & gas production coupled with the rising demand for the refurbishment & upgradation of the existing grid network. Moreover, increased focus pertaining to the upgradation of conventional electrical devices with improved high-quality units will positively sway the product adoption.

Middle East & Africa HVDC Cables Market Size, By Country, 2025 (USD Million)
Middle East & Africa HVDC Cables Market Size, By Country, 2025 (USD Million)

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Europe HVDC cables market on account of prevailing advancements toward an efficient transmission network is set to surpass USD 3.6 billion by 2025. Transmission & distribution retrofitting industry plays a crucial role in surging the demand across the region. Stringent regulatory framework toward efficient power transmission along with rising cross-border energy trade will further augment the industry dynamics.

Competitive Market Share

Eminent industry players operating across the HVDC cables market include Siemens, Hitachi, Mitsubishi, GE, Toshiba, Sumitomo, ZTT, Nexans, Gupta Power, ZMS Cable, Alfanar, Prysmian, Taihan, LS Cable & System, ABB, NKT, Hengtong, TF Cables and Ningbo Orient.

Leading industry participants have shifted their focus pertaining to significant innovation & research fund allocation to strengthen their business potential. Technological collaborations, mergers & acquisitions, inorganic growth ventures and product assortment have been the major strategic inferences followed by the key industry players.

High Voltage Direct Current Cables Industry Background  

These are cables/wires used to transmit electricity over long distances by overhead, submarine or underground transmission lines. HVDC cables of different types serves various applications in unsynchronized AC transmission systems, renewable electricity superhighways and ignition systems.

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