The global HVDC cables market is anticipated to grow at a CAGR of 7.0% during the forecast period (2022-2028). Increasing demand for superconducting cables coupled with benefits such as lightweight, high-power transmission capacity, and low maintenance is supporting the demand for HVDC cables. Superconducting power cables have gained potential interest owing to their high effectiveness, compact size, and reduced environmental footprint. These advantages are becoming increasingly important as grid operators across the globe seek to upgrade and expand their networks to accommodate the transition to renewable energy. HVDC links provides operators with more ways, to boost stability and increase the grid’s power quality, efficiency, and security of supply. An HVDC superconducting cable system is designed to operate at high voltage with a range of possible currents exceeding 3 kA. Below this current level, conventional resistive cable technology is more able to meet grid requirements.
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The Asia-Pacific region is anticipated to hold a considerable share in the global HVDC cables market during the forecast period. The rapid urbanization and increasing construction activities across emerging countries such as India and China have led to the demand for HVDC cables. Growing demand for reliable and continuous power along with ongoing grid connections across remote locations will further spur the global Asia-Pacific HVDC cables market. Emerging countries which include China and India have increased investment towards up-gradation and expansion of power capacities and infrastructure. Additionally, the power consumption pattern is changing in these developing countries which is boosting the sales of HVDC cables. According to Asian Development Bank (ADB), by 2030, more than 55% of the population of Asia will be urban, cities will merge to create urban settlements on a large scale which will require proper electricity supply, further boosting the demand for HVDC cables. Moreover, According to The National Bureau of Asia Research (NBR), the latest data Southeast Asia has been among the regions with the fastest-growing energy demand, rising 6% annually over the last two decades. This, in turn, is driving the growth of the market in the region.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global HVDC Cables Market Report by Segment
By Voltage
- High {35 kV to 475 kV}
- Extra High {> 475 kV to 600 kV}
- Ultra-High {> 600 kV}
By Installation
- Overhead
- Submarine
- Underground
By Application
- Intra-Regional
- Cross Border
Global HVDC Cables Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global HVDC cables market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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