Market Research Report
Global High Voltage Cable (HVC) Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||947604|
|Published||Content info||189 Pages
Delivery time: 2-3 business days
|Global High Voltage Cable (HVC) Market Forecast 2020-2028|
|Published: July 6, 2020||Content info: 189 Pages||
The global high voltage cable (HVC) market is estimated to record a CAGR of 5.27% during the forecast period of 2020 to 2028. The primary factors driving the market are an upsurge in infrastructure, and urbanization in emerging countries, and growing investments in smart grid technology.
High voltage cables are used for electric power transmissions at high voltages over long distances, to meet electricity requirements at respective loads. Generally, there are three types of high voltage cables installations, namely, underground, overhead, and submarine. The global high voltage cable (HVC) market growth is considerably stimulated by the growing infrastructure. Several large infrastructural projects or undertakings have begun in recent years, especially in developing countries like Japan, India, China, and Dubai. The plans comprise commercial and residential buildings, including offices, apartments, parks, theatres, and shopping centers or malls. The ventures need a large number of high voltage cables to ensure delivering adequate power, thus augmenting the market growth. Moreover, government initiatives, investments, and the establishment of offshore power projects to meet the rising demand for electricity are expected to facilitate market growth. The conducting materials used in high voltage cables are aluminum and copper, and their respective costs play a significant role in determining the total price of the cables. However, the metal prices are highly fluctuating, and the uncertainty in value proves to be a prime restraint for the global high voltage cable (HVC) market growth.
The growth analysis of the global high voltage cables (HVC) market is studied across North America, Asia Pacific, Europe, and the rest of the world. Inkwood Research estimates that the Asia Pacific region is set to dominate the global market, in terms of market share, by the end of the forecast period. The growth is attributed mainly to efforts established in overcoming the demand for electricity due to urbanization and industrialization in developing nations like India, Japan, and China.
The competitive rivalry among existing players at present, is high, and is expected to continue throughout the forecast period. The competition is primarily due to the growing demand for high voltage cables and an increased number of domestic players entering the industry. ABB, Finolex Cables, Tratos, Prysmian Group, Nexans, etc. are among the key companies in the market.
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