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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 Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI3510
  • Published Date: Apr 2022
  • Report Format: PDF

Industry Trends

HVDC Cables Market size exceeded USD 10 billion in 2021 and is anticipated to reach annual deployment of 18,000 km by 2030. The expansion of smart grid infrastructure coupled with upgradation and modernization of existing infrastructure will foster the market growth.

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Despite of COVID-19 many projects across the renewable sector including offshore wind and solar power were operational. However, major manufacturers have resumed the development and construction of transmission line infrastructure in line with the government guidelines and various safety measures.

The ongoing expansion of long-distance transmission lines will complement the market progression

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Extra HVDC cables market is projected to reach USD 3 million by 2030 owing to the ongoing installation of the long route transmission lines to provide rising electricity demand. Ongoing advancements to deploy energy efficient power lines will drive the product demand. In addition, increasing super conducting cables demand have compelled the utilities to install these cables across the transmission networks.

High voltage DC cables are poised to rise attributed to its lightweight, high-power transmission capacity, low maintenance and minimum handling cost. The line and cable industry are regulated by several sets of mandates and guidelines, inclining the major industry participants toward manufacturing of standardized and sustainable product. The growing electricity demand across energy deficit areas have been primary focus for the industry leaders.

Increasing capital expenditure to construct offshore wind farms will increase the demand for submarine HVDC power cables

Overhead HVDC cables market is expected to cross an annual installation of 13,000 km by 2030. Growing product installation across the landlocked areas coupled with easy availability as well as lower product cost has favored the customers toward the adoption of technology advanced products. The paradigm shift toward grid upgradation and modernization to cater energy efficient solutions across the network will positively boost the industry value. Optimistic policy interventions along with the favorable sectoral schemes in order to integrate sustainable power sources have strengthened the electricity transmission industry expansion. Ongoing project pipelines to install HVDC cables in order to serve regional and cross border power demand will accelerate the business potential.

Increasing capital expenditure and investments towards the commissioning of offshore wind farms coupled with rising sustainable power demand will impel the submarine HVDC cables market. The expansion of island interconnections along with safe, reliable and effective offshore transmission across the connecting countries will propel the technological acceptance. The rising public investments and fundings to deploy high and ultra-high transmission lines coupled with government inclination toward usage of renewable energy assets will further reinforce the industry demand.

Ongoing reconstruction of existing transmission lines will positively stimulate the high voltage cables market value

Increasing intra-regional agreements among power surplus and deficit countries to fulfill the increasing electricity demand will augment the industry revenue. The government efforts to rebuild and restructure the existing grid network coupled with favorable incentives toward the smart technologies for energy efficient solutions across the power infrastructure will further boost the inter-regional industry. Ongoing requirement for safe, secure, and reliable electricity supply along with minimal environmental damage due to low carbon emissions will foster the industry progression. Improved operational efficiency with respect to minimizing overall transmission losses followed by demand for efficient power supply has driven the business outlook.

APAC region will dominate the overall market revenue

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Ongoing urbanization and increasing construction activities across the developing regions has influenced the demand for high voltage cables. Growing requirements for reliable and continuous power along with ongoing grid connections across remote locations will further spur the Asia Pacific HVDC cables market. Developing economies which includes China and India has been leading the regional growth credited to the increasing investments toward upgradation and expansion of power capacities and infrastructure. Changing power consumption patterns across the residential and industrial sector will thrust the industry share. Furthermore, growing concerns toward the green carbon emissions have significantly raised the demand for sustainable power networks.

Japan HVDC cables market is slated to grow on account of the increasing investments for low emission energy network along with rising number of subsea power cable projects. Growing inclination toward the island connection with high voltage cables along with development of offshore wind power platforms to cater renewable power supply will augment the business scenario. Rebuilding of transmission lines across the traditional infrastructure will further support the industry size.

Inorganic partnerships and agreements among various players will improve the industry presence of the companies

Major participants operating in the HVDC cables market are 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, and NKT. Major leaders have witnessed the inorganic growth across the industry. Strong project pipeline along with consumer inclination toward renewable integration will drive the industry demand.

HVDC cables market research report 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

  • High
  • Extra High
  • Ultra-High

Market, By Installation

  • Overhead
  • Submarine
  • Underground

Market, 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 World
    • Brazil
    • Oman
    • South Africa
    • Chile
    • Morocco
    • Saudi Arabia
Authors: Ankit Gupta, Shubhankar Dimri

Frequently Asked Questions (FAQ) :

Global market size of HVDC cables surpassed USD 10 billion in 2021 and is predicted to reach the annual deployment of 18,000 km by 2030.
Extra high voltage segment is anticipated to reach USD 3 million in revenue by 2030 as there is a high installation of long route transmission lines to cater to the growing electricity demand.
The overhead HVDC cable installation is expected to cross a yearly deployment of 13,000 km by 2030 as these products are readily available at low cost and have strong applications in landlocked areas.
Toshiba Corporation, Mitsubishi Electric Corporation, Siemens AG, Hitachi, Sumitomo Electric Industries, General Electric, and Nexans, among others, are the main players in this industry.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 16
  • Tables & Figures: 617
  • Countries covered: 19
  • Pages: 300
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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