The Global High Voltage Cable (HVC) Market Evaluated to Grow at $23.72 Billion by 2028

As per Triton's research report, the global high voltage cable (HVC) market reaped $15.49 billion in 2020, and is probable to progress at a CAGR of 5.43% by 2028.

A recent study by Triton Market Research titled 'Global High Voltage Cable (HVC) Market' consist of the Global Analysis and Forecasts by Installation (Overhead, Submarine, Underground), End-user (Infrastructure [Commercial, Residential], Industrial [Chemical & Petrochemical, Mining, Oil & Gas, Power Utilities, Others], Renewable Energy), and by Geography (Latin America, Middle East and Africa, Europe, North America, Asia-Pacific).

A high voltage cable is used to transfer electric power over lengthier distances at a high voltage, in turn, fulfilling power demand at any given load. These cables have applications in several end-user industries, such as infrastructure, industrial, and renewable energy.

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Triton's research report suggests that the global high voltage cable (HVC) market is assessed to propel at a CAGR of 5.43% over the projected phase 2021-2028. It is also calculated to acquire revenue worth $23.72 billion by 2028.

The development in the emerging economies, along with a surge in infrastructural activities, are significant factors stimulating the evolution of the high voltage cable market globally. For instance, several countries have commenced massive infrastructural projects in the past years, including commercial and residential buildings, theaters, parks, and others. Such projects need a vast number of high voltage cables to enable transmission of required electric demand, thereby motivating the studied market's progress to a large extent.

However, conducting materials in these cables includes copper and aluminum, which play a crucial role in determining the overall cost of high voltage cables. Hence, fluctuating prices of these metals are a major factor negatively impacting the HVC market's expansion over the considered period.

The market for high voltage cable is broadly bifurcated into installation and end-user. Based on installation, the market is divided into overhead, submarine, and underground. In terms of end-user, the sub-segmentation includes infrastructure, industrial, and renewable energy. The infrastructure section is branched into commercial and residential; the industrial segment is further divided into chemical & petrochemical, mining, oil & gas, power utilities, and others.

The Asia-Pacific is dominating in the high voltage cable market. Additionally, the region is anticipated to remain the largest market for HVCs during the forecast period 2021-2028. The region's strong growth can be attributed to the rising industrialization in developing nations, such as India and China. For instance, China is initiating multiple programs to enhance the country's grid technology. Here, the rise in industrialization due to low set up cost and readily available workforce is motivating high voltage cables in the industrial sector. Therefore, these factors are likely to propel the HVC market on a growth path across the APAC region.

Finolex Cables, ABB Ltd, Sumimoto Electric Industries Ltd, Dubai Cable Company Pvt Ltd, Tele-Fonika Kable SA, Southwire LLC, Tratos, NKT Cables, Prysmian Group, Hitachi Ltd, TBEA Co Ltd, Siemens AG, and Nexans are significant companies competing in the given market.

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Question & Answer: High Voltage Cable (HVC) Market

Question 1: What significant factors are stimulating the evolution of the high voltage cable (HVC) market globally?

Answer: The development in the emerging economies, along with a surge in infrastructural activities, are significant factors stimulating the evolution of the high voltage cable market globally.

For instance, several countries have commenced massive infrastructural projects in the past years, including commercial and residential buildings, theaters, parks, and others. Such projects need a vast number of high voltage cables to enable transmission of required electric demand, thereby motivating the studied market's progress to a large extent.

Question 2: What factors are negatively impacting the HVC market's expansion?

Answer: The conducting materials in these cables includes copper and aluminum, which play a crucial role in determining the overall cost of high voltage cables. Hence, fluctuating prices of these metals are a major factor negatively impacting the HVC market's expansion over the considered period.

Question 3: Which region is dominating in the high voltage cable market?

Answer: The Asia-Pacific is dominating in the high voltage cable market. Additionally, the region is anticipated to remain the largest market for HVCs during the forecast period 2021-2028. The region's strong growth can be attributed to the rising industrialization in developing nations, such as India and China. For instance, China is initiating multiple programs to enhance the country's grid technology. Here, the rise in industrialization due to low set up cost and readily available workforce is motivating high voltage cables in the industrial sector. Therefore, these factors are likely to propel the HVC market on a growth path across the APAC region.

Question 4: Which are the significant companies competing in the HVC market?

Answer: Finolex Cables, ABB Ltd, Sumimoto Electric Industries Ltd, Dubai Cable Company Pvt Ltd, Tele-Fonika Kable SA, Southwire LLC, Tratos, NKT Cables, Prysmian Group, Hitachi Ltd, TBEA Co Ltd, Siemens AG, and Nexans are significant companies competing in the given market.

Related Report:
Global Patch Cable Market
https://www.tritonmarketresearch.com/reports/patch-cable-market#report-overview

The global patch cable market is expected to extend at a CAGR of 7.20% through the period of 2019-2028, while acquiring $4633.29 million in revenue by 2028.

Patch cables help in linking two electronic devices, and are widely used technologies for residential, institutions, and healthcare users. This is primarily because these cables are easy to install, and show several benefits over other counterparts.
The rising demand for high-speed connectivity devices and enhanced cable application is augmenting the patch cable market's growth over the estimated phase. Additionally, the surge in data center development, the emergence of the 5G revolution, and technological advancements in optical communications technologies, are another set of factors opening multiple opportunities for the patch cable market.
However, the negative impact of IoT and elevated cost of installation, are restricting the development of the patch cable market on a large scale in the global market.

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