The Global High Voltage Cable (HVC) Market Assessed to Gain $23.72 Billion in Revenue by 2028

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

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Triton's report predicts the global high voltage cable (HVC) market to surge based on revenue at a CAGR of 5.43% in the given years 2021-2028. It is further estimated to attain revenue at $23.72 billion by 2028.

A high voltage cable helps in transmitting electric power at a high voltage over long distances, which results in meeting the electricity demands at respective loads. Moreover, HVCs are employed in several sectors, including commercial, residential, mining, and others.

The increase in infrastructural activities, coupled with the development in the emerging nations, are elements contributing to the development of the high voltage cable market. In the developing nations, there is an increase in industrialization activities, which has led to the rise in demand for electric power. This growth in power demand directly results in more power generation and transmission, in turn, influencing the need for high voltage cables. However, the volatile costs of metals, such as copper and aluminum, are significantly restricting the progress of the HVC market.

The HVC market is segmented into end-user and installation. The end-user section is divided into renewable energy, industrial, and infrastructure. Here, the industrial segment is further categorized into oil & gas, chemical & petrochemical, power utilities, mining, and others. Similarly, the infrastructure section is bifurcated into residential and commercial. Lastly, the installation segment is further branched into underground, submarine, and overhead.

Geographically, Latin America is expected to observe the fastest growth rate in the high voltage cable market over the predicted period 2021-2028. The region is experiencing a steady rise in the demand for high voltage cables due to the rising demand for renewable energy. For instance, the region's nations have pledged to achieve their target of using 70% of renewable energy by 2030.

This will further enhance the investment in renewable energy technologies fueling the demand for high voltage cables. Therefore, these factors are mainly contributing to the growth of the high voltage cable market across Latin America.

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

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Question & Answer: High Voltage Cable (HVC) Market

Question 1: What elements are contributing to the development of the high voltage cable (HVC) market?
Answer: The increase in infrastructural activities, coupled with the development in the emerging nations, are elements contributing to the development of the high voltage cable market. In the developing nations, there is an increase in industrialization activities, which has led to the rise in demand for electric power. This growth in power demand directly results in more power generation and transmission, in turn, influencing the need for high voltage cables.

Question 2: What factors are restricting the progress of the HVC market?
Answer: The volatile costs of metals, such as copper and aluminum, are significantly restricting the progress of the HVC market.

Question 3: Which region is expected to observe the fastest growth rate in the HVC market?
Answer: Geographically, Latin America is expected to observe the fastest growth rate in the high voltage cable market over the predicted period 2021-2028. The region is experiencing a steady rise in the demand for high voltage cables due to the rising demand for renewable energy. For instance, the region's nations have pledged to achieve their target of using 70% of renewable energy by 2030. This will further enhance the investment in renewable energy technologies fueling the demand for high voltage cables. Therefore, these factors are mainly contributing to the growth of the high voltage cable market across Latin America.

Question 4: Which are the enterprises present in the high voltage cable market?
Answer: Hitachi Ltd, Electric Industries Ltd, Nexans, Dubai Cable Company Pvt Ltd, Finolex Cables, Prysmian Group, Southwire LLC, NKT Cables, Siemens AG, ABB Ltd, Tratos, Sumimoto, TBEA Co Ltd, and Tele-Fonika Kable SA are enterprises present in the HVC market.

Related Report:

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

The global patch cable market is estimated to grow in its revenue during 2019-2028 at a CAGR of 7.20%. It is also probable to attain revenue worth $4633.29 million by 2028.

Patch cables are used to connect two electronic devices, and are popularly utilized for healthcare, residential, and other applications. Moreover, patch cables are opted over other connecting techniques, owing to several benefits, including easy installation.

Factors such as growing demand for high-speed connectivity devices and improved cable applications, are motivating the progress of the studied market. Also, the rise in data centers, along with the advent of 5G, are generating growth opportunities for the patch cable market.

However, the high installation cost of these cables is a major restraining factor impacting the expansion of the patch cable market over the assessed period.

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