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HVDC Cables Market to Reach $10.70 Billion by 2030: Steady Growth Ahead

07-17-2024 12:50 PM CET | Energy & Environment

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

HVDC Cables Market

HVDC Cables Market

๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

The global High-Voltage Direct Current (HVDC) cables market is poised for significant growth, with a valuation of $10.70 billion in 2023 and an estimated CAGR of 5.31% through 2030. HVDC cables, preferred for long-distance bulk power transmission, connect power networks across vast geographies, ensuring secure and reliable energy infrastructure.

๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ž ๐จ๐ซ ๐ƒ๐ž๐œ๐ซ๐ž๐š๐ฌ๐ž ๐Ÿ๐จ๐ซ ๐ฐ๐ก๐š๐ญ ๐œ๐จ๐ง๐ญ๐š๐ข๐ง๐ฌ

๐€๐๐ฏ๐š๐ง๐ญ๐š๐ ๐ž๐ฌ ๐š๐ง๐ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง๐ฌ:

HVDC cables, comprising a conductor and insulator, can be installed both underground and underwater. They outperform traditional Alternating Current (AC) cables, especially over long distances, by minimizing power loss and enhancing efficiency. This technology is crucial for supplying energy to offshore oil and gas facilities and other platforms. With voltage ranges between 100 to 800 kV, HVDC cables also facilitate power transfer across grids operating at different frequencies, such as 50 Hz and 60 Hz.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ:

๐’๐ž๐ฏ๐ž๐ซ๐š๐ฅ ๐ญ๐ซ๐ž๐ง๐๐ฌ ๐š๐ซ๐ž ๐ฌ๐ž๐ญ ๐ญ๐จ ๐๐ซ๐ข๐ฏ๐ž ๐ญ๐ก๐ž ๐‡๐•๐ƒ๐‚ ๐œ๐š๐›๐ฅ๐ž๐ฌ ๐ฆ๐š๐ซ๐ค๐ž๐ญ:

โ€ข Growing Demand for UHVDC Cables: Ultra-high voltage direct current (UHVDC) cables are increasingly sought after for their ability to transmit electricity over long distances with minimal power loss. Companies like NKT are innovating to keep pace with market demand. NKT's launch of 525 kV HVDC XLPE subterranean cables in 2021 is a prime example, targeting high-voltage projects in Germany.

โ€ข Rising Transmission Projects: Rapid industrialization and urbanization in emerging economies like India and China are fueling the demand for overhead HVDC cables. Upgrading existing power infrastructure and expanding electrical supply reach necessitate such installations.

โ€ข Government Initiatives in Germany: Germany's push for wind farm development and power station upgrades has spiked HVDC cable demand. Government investments and collaborations with industry players are pivotal. For instance, Prysmian's agreement with Amprion GmbH to supply a 525 kV HVDC cable system for the A-Nord project exemplifies this trend.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ:

โ€ข The increasing adoption of XLPE HVDC cables in the oil and gas sector is a notable trend. These cables offer advantages such as being lighter, easier to handle, and more compact compared to traditional cables. Their superior performance and flexibility make them a preferred choice, driving market growth.

๐’๐ฎ๐›๐ฌ๐ž๐š ๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐ƒ๐ž๐ฆ๐š๐ง๐:

โ€ข The subsea HVDC cables market is expanding due to rising investments in offshore wind farms and sustainable power projects. High-profile projects, such as Siemens Gas & Power's $450 million contract for a 300-kilometer HVDC link in Greece, underscore this growth. Increased public and private investments in modern transmission lines further bolster this market segment.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐š ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ข๐ฆ๐ž๐ง๐ญ๐š๐ซ๐ฒ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐‘๐ข๐œ๐ก ๐†๐ซ๐š๐ฉ๐ก๐ข๐œ๐ฌ: https://www.maximizemarketresearch.com/request-sample/30626/
๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

๐›๐ฒ ๐“๐ฒ๐ฉ๐ž

Mass Impregnated Cables
Extruded Cables
Others

๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง

Overhead Line
Submarine
Underground

The HVDC cables market is segmented by application into Overhead Line, Submarine, and Underground. The Submarine segment led with a 51.3% market share in 2023, driven by the growing adoption of HVDC cables in offshore projects. High-profile projects like the BRITIB undersea HVDC installation and the Russia-Japan grid highlight the increasing demand for subsea HVDC cables.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐…๐ข๐ฅ๐ฅ๐ž๐ ๐ฐ๐ข๐ญ๐ก ๐ƒ๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐‚๐ก๐š๐ซ๐ญ๐ฌ: https://www.maximizemarketresearch.com/request-sample/30626/
๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐ข๐ง ๐ฐ๐ก๐ข๐œ๐ก ๐ซ๐ž๐ ๐ข๐จ๐ง๐ฌ??

โ™ฆ Asia Pacific: Holding the largest market share at 38.3% in 2023, the region's growth is driven by the need for reliable electricity and rural electrification efforts. Significant investments in power capacity upgrades in China and India are key contributors.

โ™ฆ Europe: Expected to grow at a CAGR of 5.17%, Europe's market is boosted by projects like the Icelink subsea HVDC link and the EuroAfrica Interconnector. Germany's DolWin5 project exemplifies the region's commitment to offshore wind turbine installations.

โ™ฆ North America: Leading in 2023 due to robust demand from the automotive and aerospace sectors, driven by the U.S.'s position as a top manufacturer in these industries.

๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐œ๐จ๐ฉ๐ž & ๐Œ๐ž๐ญ๐ก๐จ๐๐จ๐ฅ๐จ๐ ๐ฒ:

The research provides a comprehensive analysis of the global HVDC Cables market size, growth, share, innovations, and recent developments. Key stakeholders in the HVDC Cables industry can use the statistics, tables, and figures in the report for strategic planning that leads to the organization's success. The HVDC Cables market report covers the key players in the HVDC Cables industry, including Company Profile, Revenue, Product Specifications, Production Capacity/Sales, Price, and Gross Margin Sales, as well as an in-depth analysis of the market's competitive landscape. The bottom-up approach was used to estimate the HVDC Cables market size. SWOT analysis and Porter's Five Force Analysis are used to define, characterize and analyze the market competition landscape, with a focus on global HVDC Cables key players.

๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

1. NKT A/S
2. Nexans Group
3. Prysmian Group
4. LS Cable & System Ltd.
5. ABB
6. Siemens
7. General Electric
8. Hitachi
9. Mitsubishi Electric
10. NR Electric
11. C-Epri Electric Power Engineering
12. ZMS Cable,
13. General Cable
14. Toshiba Corporation
15. ZTT Gupta Power Infrastructure

๐‚๐จ๐ง๐œ๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง:

The HVDC cables market is set for steady growth, driven by technological advancements, increasing energy demands, and substantial investments in power infrastructure. With significant projects underway globally, the market presents ample opportunities for stakeholders and investors, ensuring a reliable and efficient energy future.

๐‚๐ฅ๐ข๐œ๐ค ๐ก๐ž๐ซ๐ž ๐Ÿ๐จ๐ซ ๐š ๐ฆ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐ž๐ฑ๐ฉ๐ฅ๐š๐ง๐š๐ญ๐ข๐จ๐ง: https://www.maximizemarketresearch.com/market-report/global-hvdc-cables-market/30626/
๐Š๐ž๐ฒ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐‡๐•๐ƒ๐‚ ๐‚๐š๐›๐ฅ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ซ๐ž:

What is HVDC Cables?
Which region held the largest market share in HVDC Cables Market?
What are the major drivers of the HVDC Cables Market?
What are the major restraints for the HVDC Cables market?
What are the HVDC Cables market segments?
What factors are expected to challenge the market growth during the forecast period?
Who are the key players in the HVDC Cables industry?
๐Š๐ž๐ฒ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ:

Market Share, Size & Forecast by Revenue | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation - A detailed analysis by segments and sub-segments
Competitive Landscape - Top Key Vendors and Other Prominent Vendors
Industry Recommendations
Key Findings
๐๐ซ๐จ๐ฐ๐ฌ๐ž ๐Ž๐ฎ๐ซ ๐Œ๐จ๐ฌ๐ญ ๐‘๐ž๐š๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:

โ™ฃ Global Semiconductor Assembly and Testing Services Market https://www.maximizemarketresearch.com/market-report/global-semiconductor-assembly-and-testing-services-market/35637/

โ™ฃ India Sports Apparel Market https://www.maximizemarketresearch.com/market-report/india-sports-apparel-market/77721/

โ™ฃ Global Cast Iron Cookware Market https://www.maximizemarketresearch.com/market-report/global-cast-iron-cookware-market/22438/

โ™ฃ Baby Blankets Market https://www.maximizemarketresearch.com/market-report/baby-blankets-market/145685/

โ™ฃ Global Body Scrub Products Market https://www.maximizemarketresearch.com/market-report/global-body-scrub-products-market/108141/

โ™ฃ India Dishwashers Market https://www.maximizemarketresearch.com/market-report/india-dishwashers-market/22507/

โ™ฃ Global Safety Eyewear Market https://www.maximizemarketresearch.com/market-report/global-safety-eyewear-market/111306/

โ™ฃ Global Industrial Ethernet Switch Market https://www.maximizemarketresearch.com/market-report/global-industrial-ethernet-switch-market/14535/

โ™ฃ Global Stick Packaging Market https://www.maximizemarketresearch.com/market-report/global-stick-packaging-market/31823/

โ™ฃ Global 3D Printed Drugs Market https://www.maximizemarketresearch.com/market-report/global-3d-printed-drugs-market/25000/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

sales@maximizemarketresearch.com

+91 96071 95908, +91 9607365656

๐€๐›๐จ๐ฎ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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