The Global High Voltage Cable (HVC) Market to Reap a CAGR of 5.43% by 2028

Triton Market Research presents the Global High Voltage Cable (HVC) Market segmented by End-user (Renewable Energy, Industrial [Mining, Power Utilities, Chemical & Petrochemical, Oil & Gas, Others], Infrastructure [Residential, Commercial]), Installation (Underground, Overhead, Submarine), and Geography (North America, Middle East and Africa, Asia-Pacific, Latin America, Europe). It also discusses the Market Summary, Industry Outlook, Market Definition, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Restraints, Opportunities, Competitive Landscape, Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

As per Triton's research report, the global market for high voltage cable (HVC) is estimated to experience growth in revenue, acquiring 5.43% of CAGR during the period 2021-2028.

Request Free Sample Report:
https://www.tritonmarketresearch.com/reports/high-voltage-cable-market#request-free-sample

A high voltage cable (HVC) is employed primarily for electric power transmission at a high voltage over longer distances, meeting the power demand at individual loads. The installation of high voltage includes overhead, submarine, and underground.

In recent times, smart grids are favored over conventional grid technologies due to their ability to be more reliable, flexible, and economically optimized. This has led to the smart grids replacing old grids, enhancing the demand for high voltage cables. For instance, the Japanese government has invested significantly in smart grid technology over the years. Hence, smart grid technology's growing investments are likely to offer multiple opportunities for the high voltage cable (HVC) market's development. However, the volatile prices of metals, including copper and aluminum, are restricting the growth of the global market over the evaluated phase.

Latin America is expected to display the fastest growth rate in the high voltage cable (HVC) market over the projected period 2021-2028. The region's growth is mainly owing to the growing demand for achieving the renewable energy target. For instance, the region has pledged a target of using 70% of renewable energy by 2030. Such targets increase the need for investment in various renewable energy technologies, further fueling the demand for high voltage cables. Therefore, as stated above, these factors are anticipated to widen the growth of the high voltage cable (HVC) market across Latin America in the upcoming years.

The enterprises engaged in the high voltage cable (HVC) market consist of Prysmian Group, Southwire LLC, Dubai Cable Company Pvt Ltd, Finolex Cables, Siemens AG, TBEA Co Ltd, Tratos, Hitachi Ltd, Sumimoto Electric Industries Ltd, Tele-Fonika Kable SA, Nexans, NKT Cables, and ABB Ltd.

Purchase this report:
https://www.tritonmarketresearch.com/reports/high-voltage-cable-market#purchase-option

Several dominant players in the HVC market are gaining significant market share, making the entry of new market players restricted. Besides, technical expertise and capital investments are required to manufacture these cables. This is another factor that acts as a barrier for the new players in the high voltage cable market. While on the other hand, the competition among the current market players is estimated to increase in the next few years due to the rising demand for HVC. Moreover, these players are adopting several new strategies to expand their geographical presence, gaining significant market share. Hence, the threat of new entrants and competitive rivalry among the existing players are likely to remain high during the considered period.

Triton Market Research
196, wards wharf approach
London E16 2EQ
Phone: +44 7441 911839
Email: sales@tritonmarketresearch.com
Website: https://www.tritonmarketresearch.com/

We are a leading market research company with offices in the UK, providing the best online market research and data search reports to our clients.

This release was published on openPR.