High Voltage Cables Market Size To Hit USD 47.2 Billion By 2027


 San Francisco, 23 December 2024: The Report High Voltage Cables Market Size, Share & Trends Analysis Report By End Use (Energy & Power, Building & Construction), By Installation (Overhead, Underground, Submarine), By Region, And Segment Forecasts, 2020 - 2027

The global high voltage cables market size is expected to reach USD 47.2 billion by 2027 registering a CAGR of 3.7%, according to a new report by Grand View Research, Inc. Increasing investments in offshore wind farms and preference for energy generation from renewable sources are the major factors driving the market. The demand for refined power T&D systems is expected to be another critical factor driving the market over the forecast period.

High investments and new projects have been launched in various emerging economies for power generation from renewable energy sources. This energy generation needs to be supplied to the end-users through efficient cables with less transmission loss. Thus, high voltage (HV) cables allow the transmission and distribution of electricity safely. The submarine HV cables are also installed to enable communication between the regions across the globe.

The power grid interconnection has proved beneficial for the growth of the overall market due to its advantages including reduced transmission losses and efficient power transmission. In addition, the power grid operator is undergoing upgradation and renovation of the old infrastructure. For instance, in 2019, NKT A/S signed a contract with TenneT (Germann-Dutch) power grid operator to provide HV cables.

Access Research Report of High Voltage Cables Market @ https://www.grandviewresearch.com/industry-analysis/high-voltage-cables-market

High Voltage Cables Market Report Highlights

  • The global accounted for USD 35.11 billion in 2019 and is expected to register a CAGR of 3.7% from 2020 to 2027
  • Overhead emerged as the largest installation segment in 2019 and is estimated to retain the leading position throughout the forecast period
  • Asia Pacific holds the largest share in the global market. Grid interconnections and increasing offshore wind farms projects in the region are the key factors responsible for region’s growth

High Voltage Cables Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 36.6 billion

Revenue forecast in 2027

USD 47.2 billion

Growth Rate

CAGR of 3.7% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

List of Key Players of High Voltage Cables Market

  • Prysmian Group
  • Nexans
  • NKT A/S
  • Southwire Company, LLC
  • Sumitomo Electric Industries, Ltd.
  • Finolex Cables
  • Dubai Cable Company, Pvt. Ltd.

Access Press Release of High Voltage Cables Market @ https://www.grandviewresearch.com/press-release/global-high-voltage-cables-market

 About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more