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High Voltage Cable Market Outlook 2023, Share, Size, Key Players and Forecast By 2028

The global high voltage cable market size reached US$ 39.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.
Published 18 August 2023

How Big is the High Voltage Cable Market ? : 

IMARC Group’s latest report, titled “High Voltage Cable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global high voltage cable market size reached US$ 39.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.

What are High Voltage Cable and Uses ? :

A high-voltage cable (HVC) is an electrical conductor that carries high-voltage electric currents. It is equipped with structural elements, such as protective jackets, multiple conductors, and insulators. It is designed to efficiently transmit electricity without any power loss during long-range transmissions. It can also withstand extreme environmental conditions, such as high temperatures, weather, chemical exposure, and conductivity.

It is available in various types and configurations depending on the specific application. Besides, it has specialized insulation materials and construction to provide adequate insulation and prevent electrical breakdown. As a result, it is widely used in industrial settings, power transmission networks, electrical substations, mining, power, chemical, wastewater treatment, paper, manufacturing, oil, and gas sectors.

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Who are the key Players Operating in the Industry ? :

The competitive landscape of the industry has also been examined along with the profiles of the key players being

  • Brugg Kabel AG
  • Ducab, LS Cable & System Ltd
  • NKT A/S
  • Prysmian Group
  • Siemens AG
  • Southwire Company LLC
  • Sumitomo Electric Industries Ltd
  • TBEA Co. Ltd

What are the Growth Prospects and Trends in the High Voltage Cable Industry ? :

The rising demand for electricity is driving the global market. Moreover, the increasing shift towards renewable energy sources, such as wind and solar power, is augmenting the demand for high-voltage cables across the globe. Along with this, the increasing adoption of electric vehicles (EVs) is catalyzing the growth of the market as EVs require charging stations, which require high-voltage cables to transmit electricity from the grid to the vehicle.

Furthermore, the increasing investments by the governments in rural electrification projects and the development of smart grid technology are impacting the market favorably. Besides, continuous advancements in cable technologies, such as improved insulation materials, higher voltage ratings, and enhanced transmission efficiency, are creating a positive market outlook.

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What is Included in Market Segmentation ? :

The report has segmented the market into the following categories:

Key Market Segmentation:

Breakup by Installation:

  • Overhead
  • Underground
  • Submarine 

Breakup by Voltage Type:

  • 50kV-110kV
  • 115kV-330kV
  • More than 330kV 

Breakup by End User:

  • Industrial
  • Power Utilities
  • Oil and Gas
  • Mining
  • Chemical and Petrochemical
  • Others
  • Renewable Energy
  • Wind
  • Hydropower
  • Others
  • Infrastructure
  • Commercial
  • Residential

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other) 

Key Highlights of the Report: 

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape 

 Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization. 

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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