High Voltage Cables Market Analysis by Manufacturers, Region, Application, Driver, Existing Trends by 2023

The global high voltage cables market has witnessed significant growth during 2012 – 2015, due to growth in renewable energy infrastructures, projects for grid interconnections and installation of efficient transmission systems. The insulation of high voltage cables does not degrade due to high voltage. The cables with higher power distribution capacity are insulated with oil and paper. 

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Key factors supporting the growth of the global HVC market include the increased government initiatives in smart grid technology and offshore power projects, worldwide. Several developing countries have an old power transmission infrastructure that offers inefficient power supply and eases power theft.

The global high voltage cables market has been segmented based on the type of use, product type and region. Asia-Pacific has been the leading region in the global high voltage cables market, owing to increasing number of infrastructure and renewable energy projects in the region.

North America is focusing on upgrading its power grid infrastructure to enhance the efficiency of power generation and comply with better and advanced infrastructure.

The factors acting as key restraints for the global high voltage cables market include delay in implementation of power projects, due to various government approval policies for HSE. High voltage direct current (HVDC) with a smart grid network helps in improving the overall power efficiency and offers opportunities for the companies engaged in providing better power transmission system.

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The key players operating in the global high voltage cables market are ABB Ltd., Prysmian Group, Sumitomo Electric Industries, Ltd., Nexans, NKT Cables, Okonite and General Cable Corporation (U.S.).

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