Press release
Global High Voltage Cable Market: Robust Growth, Trends, and Key Market Players
High Voltage Cable Market
What Is The Projected Market Size Of The Global High Voltage Cable Market And Its Growth Rate?
• The high voltage cable market size was $40.07 billion in 2024 and is projected to grow to $42.25 billion in 2025 at a CAGR of 5.4%.
• This growth in the historic period is driven by electrification initiatives, renewable energy integration, urbanization, infrastructure development, grid modernization, and increased demand from the industrial sector.
• The market is expected to witness a robust growth, reaching $53.78 billion in 2029 at a CAGR of 6.2%.
What Is Driving The Growth In The High Voltage Cable Market?
The soaring electricity demand globally is projected to fuel the growth of the high voltage cables market. The use of these cables has been instrumental in power transfer and distribution, national transfer network cabling, electric stations, and municipal networks. According to the International Energy Agency, the rise in electricity demand by 6% in 2021 will continue to expand by 2.4% in 2022, accentuating the expected market growth of high voltage cables.
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Who Are the Key Players Driving High Voltage Cable Market Growth?
• Taihan Electric Wire Co. Ltd.
• NKT Cables A/S
• Siemens Aktiengesellschaft
• Tratos Cavi SpA
• Hengtong Optic-Electric Co. Ltd.
• Sumitomo Electric Industries Ltd.
• Hunan Cables Group Co. Ltd.
• ABB Ltd
• Shanghai Electric Cable Co. Ltd.
• Southwire Company LLC
• Fujikura Ltd
• Riyadh Cables Group Company
• Furukawa Electric Co. Ltd.
• Prysmian Group S.p.A.
• Leoni AG
• Belden Inc.
• Dubai Cable Company Private Limited
• Showa Cable Systems Co. Ltd.
• KEI Industries Ltd
• BRUGG Cables AG
• Okonite Company
• Bahra Cables Company BSC (c)
• LS Cable & System Ltd.
• Hitachi Cable Ltd.
• Nexans SAS
• General Cable Industries Inc.
• Cable Corporation of India Limited
What Are The Key Trends In The High Voltage Cable Market?
• Advancements in cable technologies
• Digitalization and smart grid technologies
• Focus on energy efficiency and loss reduction
• Integration of smart grid technologies
• Development of high-performance materials
What Are The Segments Of The Global High Voltage Cable Market?
• By Installation: Overhead, Submarine, Underground
• By Voltage: 50kV-110kV, 115kV-330kV, >330kV
• By End-User: Utility, Industrial
Which Region Leads The High Voltage Cable Market?
In 2024, North America led the high voltage cables market. However, during the forecast period, Asia-Pacific is expected to be the fastest-growing region. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The High Voltage Cable Market Global Market Report?
- Market Size Analysis: Analyze the High Voltage Cable Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the High Voltage Cable Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall High Voltage Cable Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the High Voltage Cable Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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