Global High Voltage Cable Market 2023-2030: Rise in Offshore Power Projects Presents Opportunities

DUBLIN, March 7, 2023 /PRNewswire/ -- The "Global High Voltage Cable Market 2023-2030" report has been added to  ResearchAndMarkets.com's offering.

MARKET OUTLOOK

Based on the publisher's estimates, the global high voltage cable market is anticipated to witness a growth trend at a CAGR of 5.52% during the forecast period 2023-2030.

The market's growth is driven by factors such as the rise in infrastructure activities and development in emerging nations. Other than this, the rise in offshore power projects and electricity demand due to economic growth is anticipated to create opportunities for the global high voltage cable market.

On the contrary, the volatile cost of metals such as copper and aluminum is predicted to hamper the overall development of the studied market.

REGIONAL OUTLOOK

The global high voltage cable market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.

The Asia-Pacific is anticipated to witness the fastest growth over the forecast period. The region's robust growth is mainly on account of the high need for electricity due to urbanization in China, Japan, and India. Over the years, China has emerged as the leading energy producer, which has elevated the demand for high voltage cables for power transmission. This has ultimately led various players to enter the market to expand their footing. Therefore, these factors are widening the scope of the HVC market across the region.

COMPETITIVE OUTLOOK

The notable companies thriving in the high voltage cable market are NKT Cables, Dubai Cable Company Pvt Ltd, Furukawa Electric Co Ltd, Finolex Cable Ltd, Hitachi Ltd, Nexans SA, Prysmian Group, Siemens AG, Southwire Company LLC, and Sumitomo Electric Industries Ltd.

Siemens AG is a technology company offering services for automation, electrification, and digitization. It provides solutions and services for medical imaging, power generation, oil and gas production, infrastructure and building technologies, etc. The company serves clients across multiple regions, including Europe, Latin America, North America, and Asia-Pacific. It is headquartered in Germany.

Market Dynamics

Market Drivers

• Increase in Infrastructure Activities
• Development in Emerging Countries

Market Challenge

• Volatile Price of Metals

Market Opportunities

• Rise in Offshore Power Projects
• Electricity Demand Due to Economic Growth and Industrialization

Key Topics Covered:

1. Global High Voltage Cable Market - Summary

2. Industry Outlook

3. Global High Voltage Cable Market - by Installation
3.1. Underground
3.2. Submarine
3.3. Overhead

4. Global High Voltage Cable Market - by Vertical
4.1. Renewable Energy
4.2. Industrial
4.2.1. Mining
4.2.2. Oil & Gas
4.2.3. Chemical & Petrochemical
4.2.4. Power & Utility
4.2.5. Other Industrial Verticals
4.3. Infrastructure
4.3.1. Commercial
4.3.2. Residential

5. Global High Voltage Cable Market - Regional Outlook

6. Competitive Landscape

7. Research Methodology & Scope

A selection of companies mentioned in this report includes

• Dubai Cable Company Pvt Ltd
• Furukawa Electric Co Ltd
• Finolex Cable Ltd
• Hitachi Ltd
• Nkt Cables
• Nexans Sa
• Prysmian Group
• Siemens AG
• Southwire Company LLC
• Sumitomo Electric Industries Ltd

For more information about this report visit https://www.researchandmarkets.com/r/o8yocd

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