HVDC Cables Market size to exceed $4 billion by 2027

HVDC Cables Market size is projected to surpass USD 4 Billion by 2027, as reported in the latest study by Global Market Insights, Inc.
 

HVDC cables industry share will witness significant growth on account of rising peak load demand followed by expansion of micro-grid networks. Government regulatory norms and mandates to deploy energy efficient electrical infrastructure followed by huge renewable integration will boost the industry dynamics. Growing inclination toward refurbishment and replacement of grid networks along with ongoing integration of a sustainable electrical network will complement the business scenario.

 

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Ongoing foreign trade agreements among the various countries to supply high voltage power supply will drive the industry demand

Cross-border HVDC cables market is anticipated to grow owing to positive measures toward power supply across remote areas. Ongoing foreign trade agreements among the various countries to supply electricity across energy deficit countries along with favorable government ties with various industry players to install advanced power cables will sway the business landscape. Moreover, growing peak load demand on account of increasing investments toward efficient grid networks coupled with positive consumer outlook related to the development of solar and wind farms will further strengthen the industry share.
 

Growing energy demand followed by increasing adoption of high-end power cables will boost the technology adoption

Underground HVDC cables market will exceed over USD 130 Million by 2027. Rising adoption of high-end power cables to eliminate electrical & magnetic field across the railway infrastructure, commercial and industrial sector will further sway the industry landscape. Growing energy demand followed by increasing adoption of decentralized power structure will further sway the product demand.
 

Browse key industry insights spread across 250 pages with 379 market data tables & 25 figures & charts from the report, “HVDC Cables Market Statistics By Voltage (High {35 kV to 475 kV}, Extra High {> 475 kV to 600 kV}, Ultra-High {> 600 kV}), By Installation (Overhead, Submarine, Underground), Application (Intra-regional, Cross Border) Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2027in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hvdc-cables-market
 

Increasing number of solar and wind farms across offshore & onshore areas will propel the Europe HVDC cables industry forecasts

European HVDC cables market trend is estimated to upsurge on account of replacement of conventional T&D infrastructure along with rising integration of renewable powered sources. Increasing number of solar and wind farms across offshore and onshore areas have incurred the requirement of efficient energy transmission networks which will further stimulate the industry dynamics. In addition, favorable government norms and incentives to deploy low carbon emission electrical equipment followed by increasing demand for stable, secure and effective power grid will enhance the product deployment.
 

Ongoing technological enhancement followed by rising joint ventures and strategic collaborations among the industry players will thrust the industry dynamics

COVID-19 impact across the HVDC cables industry was minimum on account of rising number of solar and wind farms across the developed and emerging countries followed by replacement of T&D networks to fulfill rising energy demand.
 

Eminent industry players operating across HVDC cables market includes General Electric, Siemens AG, Sumitomo Electric Industries, Hitachi, ZTT, Mitsubishi Electric Corporation, Nexans, Gupta Power Infrastructure, Prysmian Group, Alfanar, ZMS Cable, Taihan Electric Wire, Toshiba Corporation, LS Cable & System, Iljin, NKT and ABB
 

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