HVDC Cables Market report gives attention to market segmentation, market size, and forecast of 2018-2024 to help stakeholders in making a good decision for the future investments. The industry report segmented into types, application, and regions with providing production, revenue, import/export.
The hvdc cables market is estimated to grow at CAGR above 6.7% over the forecast time frame 2019 to 2025 and reach the market annual installation of 15,000km by 2025
Europe HVDC cables market in 2025, is anticipated to surpass USD 3.6 billion. Ongoing advancements toward effective T&D network along with increasing cross-border energy trade will positively influence the business outlook. Growing share of sustainable energy sources accompanied by the stringent regulator norms will thrust the industry growth. The government authorities with an objective to establish an efficient energy infrastructure have been rapidly investing to serve their electricity generation and transmission & distribution networks.
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HVDC Cables Market share is set to surpass USD 6 Billion by 2025. Increasing inclination toward security of supply and grid stability along with growing electricity demand will positively impact the product demand. Introduction of stringent regulatory framework to limit carbon emissions favored by the consumer cognizance subject to the renewable energy projects will stimulate the high voltage direct current cables market growth. In addition, growing demand for the re-establishment of the existing grid network coupled with the power deficits on account of weather events, brownouts and grid inefficiencies will propel the industry growth.
Rising inclination pertaining to technological improvements of prevailing electrical infrastructure across developed nations in line with lack of effective power transmission & distribution systems will foster the HVDC cables market share. Government initiatives with subject to renewable power capacity additions along with aging & inadequate transmission infrastructure will further encourage the product penetration. Moreover, positive regulatory reforms toward sustainable energy assets accompanied by rising funding to develop viable power grids will strengthen the industry share.
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The EHV cables in 2025, is projected to exceed USD 4 billion. Limited utilization of conductors, effective long-route power transmission and no sagging losses are the few imperative parameters which will energize the industry growth. Revamping of small -scale industrial peripherals across developing economies coupled with large scale commercial development will augment the industry growth. Furthermore, growing dependency on industries including manufacturing and power generation facilities will foster the industry dynamics.
Overhead installation is projected to surpass an annual installation of 10,800 km by 2025. Better controllability, minimal short-circuity current and efficient asynchronous interconnection are few of the key advantages which will boost the business growth. Reduced sagging losses across long-distance power transmission lines coupled with effective operational adaptability & improved life span will positively influence the industry landscape.
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Submarine installation will gain an upsurge owing to various regulatory reforms including leveraging schemes, subsidies and incentives coupled with increasing investments to develop a sustainable energy environment. Easy installation & low material cost favored by rapidly budding island interconnections will complement the business outlook. In addition, industrial integration toward economical and efficient cable technology coupled with installation of offshore wind farms will encourage the product adoption.
Eminent industry players operating across the HVDC cables market comprises of LS Cable & System, ZMS Cable, NKT, ABB, Hengtong, Siemens, Sumitomo, Gupta Power, Alfanar, Toshiba, Mitsubishi, Ningbo Orient, TF Cables, Prysmian, GE, ZTT, Taihan, Hitachi and Nexans.