HVDC Cables Market: Global Industry Analysis and Forecast (2022-2029)

HVDC Cables Market was valued at US $ 9.65 Bn. in 2021. Global HVDC Cables Market size is estimated to grow at a CAGR of 5.31%.

HVDC Cables Market Overview:

A high-voltage direct current (HVDC) cable is the preferred transmission technology for long-distance bulk electric power transmission. HVDC cables connect power networks across countries and continents to ensure that energy infrastructures are secure and reliable A conductor and insulator make comprise a cable, which can be run underground or underwater. HVDC cables are a superior alternative for carrying energy over long distances than alternating current (AC) cables, which are more widely utilized. The HVDC cables have numerous advantages over traditional cables and are mostly used to supply energy to oil and gas facilities such as floating production storage and offloading and other platforms located in or near the ocean. The majority of HVDC cables used voltages ranging from 100 to 800 kV. Power can also be transferred across grid systems that operate at different frequencies, such as 50 Hz and 60 Hz, using HVDC. HVDC Cables Market To know about the Research Methodology :- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2021 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2021 is a year of exception and analyzed especially with the impact of lockdown by region.

HVDC Cables Market Dynamics:

Trends that are expected to boost the HVDC Cables Market perspective: • Growing demand for UHVDC cables: The Ultra-high voltage direct current cables are used to transmit electricity over long distances with minimum power loss. This ability to minimize power loss over long distances has raised the demand along with installations across the globe. Many major industry companies are launching a new products in order to keep up with the pace of the market. For instance, NKT launched their 525 kV HVDC XLPE subterranean cables in May 2021, which is expected to be used in planned high voltage direct current corridor projects in Germany. According to an MMR analyst, the market segment is expected to be worth US$ 530 million by the end of the forecast period. • An increase in the number of transmission projects is expected to increase the use of overhead HVDC cables The growing demand for energy in emerging countries, such as India and China has increased as a result of rapid industrialization and urbanization. This has also resulted in the upgrading of existing power infrastructure in order to extend the reach of electrical supplies, leads necessitating the installation of overhead HVDC cables. In addition, land-based transmission grids are simple to operate and maintain, and HVDC cables can be constructed in difficult terrain. A steady increase in the number of power transmission projects in China and India has fueled the use of overhead HVDC cables, which is driving the market growth. • German government initiatives to alter the market for HVDC cables In Germany, the growing number of wind farms, along with transmission line and power station upgrades, has resulted in an increase in demand for HVDC cables. The government has taken steps to meet the electrical needs of their growing industry and urban areas by heavily investing in these projects and collaborating with industry players. For instance, in 2020, Prysmian inked an agreement with Amprion GmbH, a German grid operator, to supply a 525 kV HVDC cable system for project A-Nord. Such activities are expected to aid in increasing the country's HVDC cable consumption rate. Increase In Usage of XLPE HVDC Cables: The growing use of HVDC cable in Oil and gas sector is driving the HVDC cable market growth across the globe. XLPE HVDC cable cables have several advantages that make them more popular than standard cables. These polymer insulated cables are lighter and easier to handle. They're also easier to connect than paper-insulated cables and offer a greater conductor temperature. As a result, the wire can be smaller and the construction can be more compact. XLPE cables allow the use of several additives including antioxidants, cross-linking agents, lubricating additives, and scorch-resistant additives. These factors are expected to uplift the HVDC cable market growth during the forecast period. The Growing Demand for Subsea HVDC Cables across the globe: The underwater HVDC cables market is driven by increased capital investment to build offshore wind farms, along with rising sustainable power demand across the globe. The technical adoption is expected to push by the growth of island linkages, followed by safe and dependable offshore transmission. For instance, Siemens Gas & Power was awarded a contract for over USD 450 million in June 2020 to build a 300-kilometer HVDC link across mainland Greece. In addition, increased public and private investments in modern transmission lines, along with government attempts to adopt renewable energy assets, are expected to uplift the HVDC cables market during the forecast period.

HVDC Cables Market Segment Analysis:

Based on the Application, the HVDC Cables Market is segmented into Overhead Line, Submarine, and Underground. The Submarine segment held the largest market share, accounting for 51.3% in 2020. The growing adoption of HVDC cables in Submarine projects across the globe is boosting the market growth. In addition, ongoing off-shore projects across the globe are increasing the product demand. For instance, The BRITIB project, a 1330 km undersea HVDC installation for energy transmission, has brought together the United Kingdom, Spain, and France. Russia and Japan have decided to build a Russia-Japan grid, which will use high-voltage direct current (HVDC) cables to connect the two nations' energy grids. China's state grid corporation is constructing 3200 kilometers of high-voltage direct current (HVDC) cables for energy transmission. In addition, by 2030, the United States is expected to invest more than US$ 70 billion in subsea wind energy installations. HVDC Cables Market

HVDC Cables Market Regional Insights:

Asia Pacific region held the largest market share accounted for 38.3% in 2020. The Asia Pacific HVDC cables market share will be driven by the rising need for reliable and uninterrupted electricity, along with increasing measures to electrify rural places across the region. Growing investment towards upgrading power capacities and electric infrastructure, in countries like China and India, is expected to drive the HVDC cables market growth. In India, POWERGRID's EHVAC (up to 765 kV) and +800/+500kV HVDC transmission networks are used for bulk power transmission. As of June 30, 2021, POWERGRID's transmission network has 172,154 circuit kilometers of transmission lines with a transformation capacity of 446,940 Mega Volt Amperes (MVA) and 262 substations. The market for HVDC cables in Japan is predicted to rise as investments in clean energy networks increase, along with the number of submarine power cable projects in the region. The growing demand for improved submersible cables across offshore installations to provide effective power supply is boosting the product demand. The European region is expected to grow at CAGR of 5.17% during the forecast period. Icelink, a 1200km subsea HVDC link between the United Kingdom and Iceland, has been announced by the United Kingdom. The EuroAfrica Interconnector, which is separated into two sections, is expected to install a 1396 km submarine HVDC between Egypt, Cyprus, and Greece. The first phase has finished in 2020, while the second phase is expected to complete in 2021. In 2021, Germany announced its DolWin5 project in Europe, which will be completed in 2024 and is located 100 kilometres distant in the North Sea. As a result, factors including a rise in offshore wind turbine installations, particularly in the European region, are expected to uplift the HVDC cables market. The objective of the report is to present a comprehensive analysis of the global HVDC Cables Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the HVDC Cables Market dynamic, structure by analyzing the market segments and projecting the HVDC Cables Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the HVDC Cables Market make the report investor’s guide.

HVDC Cables Market Scope: Inquiry Before Buying

HVDC Cables Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 9.65 Bn.
Forecast Period 2021 to 2027 CAGR: 5.31% Market Size in 2029: US $ 14.60 Bn.
Segments Covered: by Type • Mass Impregnated Cables • Extruded Cables • Others (including Oil-filled Cables and Superconducting Cables)
by Application • Overhead Line • Submarine • Underground

HVDC Cables Market by Region

• North America • Europe • Asia Pacific • Latin America • The Middle East and Africa

HVDC Cables Market Key Players

NKT A/S • Nexans Group • Prysmian Group • LS Cable & System Ltd. • ABB • Siemens • General Electric • Hitachi • Mitsubishi Electric • NR Electric • C-Epri Electric Power Engineering • ZMS Cable, • General Cable • Toshiba Corporation • ZTT Gupta Power Infrastructure Frequently Asked Questions: 1] What segments are covered in the HVDC Cables Market report? Ans. The segments covered in the HVDC Cables Market report are based on Type and Application. 2] Which region is expected to hold the highest share in the HVDC Cables Market? Ans. The Asia Pacific region is expected to hold the highest share in the HVDC Cables Market. 3] What is the market size of the HVDC Cables Market by 2029? Ans. The market size of the HVDC Cables Market by 2029 is US$ 14.60 Bn. 4] What is the forecast period for the HVDC Cables Market? Ans. The forecast period for the HVDC Cables Market is 2021-2029. 5] What was the market size of the HVDC Cables Market in 2021? Ans. The market size of the HVDC Cables Market in 2021 was US$ 9.65 Bn.
1. HVDC Cables Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. HVDC Cables Market: Dynamics 2.1. HVDC Cables Market Trends by Region 2.1.1. North America HVDC Cables Market Trends 2.1.2. Europe HVDC Cables Market Trends 2.1.3. Asia Pacific HVDC Cables Market Trends 2.1.4. Middle East and Africa HVDC Cables Market Trends 2.1.5. South America HVDC Cables Market Trends 2.2. HVDC Cables Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America HVDC Cables Market Drivers 2.2.1.2. North America HVDC Cables Market Restraints 2.2.1.3. North America HVDC Cables Market Opportunities 2.2.1.4. North America HVDC Cables Market Challenges 2.2.2. Europe 2.2.2.1. Europe HVDC Cables Market Drivers 2.2.2.2. Europe HVDC Cables Market Restraints 2.2.2.3. Europe HVDC Cables Market Opportunities 2.2.2.4. Europe HVDC Cables Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific HVDC Cables Market Drivers 2.2.3.2. Asia Pacific HVDC Cables Market Restraints 2.2.3.3. Asia Pacific HVDC Cables Market Opportunities 2.2.3.4. Asia Pacific HVDC Cables Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa HVDC Cables Market Drivers 2.2.4.2. Middle East and Africa HVDC Cables Market Restraints 2.2.4.3. Middle East and Africa HVDC Cables Market Opportunities 2.2.4.4. Middle East and Africa HVDC Cables Market Challenges 2.2.5. South America 2.2.5.1. South America HVDC Cables Market Drivers 2.2.5.2. South America HVDC Cables Market Restraints 2.2.5.3. South America HVDC Cables Market Opportunities 2.2.5.4. South America HVDC Cables Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For HVDC Cables Industry 2.8. Analysis of Government Schemes and Initiatives For HVDC Cables Industry 2.9. HVDC Cables Market Trade Analysis 2.10. The Global Pandemic Impact on HVDC Cables Market 3. HVDC Cables Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. HVDC Cables Market Size and Forecast, by Type (2022-2029) 3.1.1. Mass Impregnated Cables 3.1.2. Extruded Cables 3.1.3. Others (including Oil-filled Cables and Superconducting Cables) 3.2. HVDC Cables Market Size and Forecast, by Application (2022-2029) 3.2.1. Overhead Line 3.2.2. Submarine 3.2.3. Underground 3.3. HVDC Cables Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America HVDC Cables Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America HVDC Cables Market Size and Forecast, by Type (2022-2029) 4.1.1. Mass Impregnated Cables 4.1.2. Extruded Cables 4.1.3. Others (including Oil-filled Cables and Superconducting Cables) 4.2. North America HVDC Cables Market Size and Forecast, by Application (2022-2029) 4.2.1. Overhead Line 4.2.2. Submarine 4.2.3. Underground 4.3. North America HVDC Cables Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States HVDC Cables Market Size and Forecast, by Type (2022-2029) 4.3.1.1.1. Mass Impregnated Cables 4.3.1.1.2. Extruded Cables 4.3.1.1.3. Others (including Oil-filled Cables and Superconducting Cables) 4.3.1.2. United States HVDC Cables Market Size and Forecast, by Application (2022-2029) 4.3.1.2.1. Overhead Line 4.3.1.2.2. Submarine 4.3.1.2.3. Underground 4.7.2. Canada 4.3.2.1. Canada HVDC Cables Market Size and Forecast, by Type (2022-2029) 4.3.2.1.1. Mass Impregnated Cables 4.3.2.1.2. Extruded Cables 4.3.2.1.3. Others (including Oil-filled Cables and Superconducting Cables) 4.3.2.2. Canada HVDC Cables Market Size and Forecast, by Application (2022-2029) 4.3.2.2.1. Overhead Line 4.3.2.2.2. Submarine 4.3.2.2.3. Underground 4.7.3. Mexico 4.3.3.1. Mexico HVDC Cables Market Size and Forecast, by Type (2022-2029) 4.3.3.1.1. Mass Impregnated Cables 4.3.3.1.2. Extruded Cables 4.3.3.1.3. Others (including Oil-filled Cables and Superconducting Cables) 4.3.3.2. Mexico HVDC Cables Market Size and Forecast, by Application (2022-2029) 4.3.3.2.1. Overhead Line 4.3.3.2.2. Submarine 4.3.3.2.3. Underground 5. Europe HVDC Cables Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.2. Europe HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3. Europe HVDC Cables Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.1.2. United Kingdom HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3.2. France 5.3.2.1. France HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.2.2. France HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3.3. Germany 5.3.3.1. Germany HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.3.2. Germany HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3.4. Italy 5.3.4.1. Italy HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.4.2. Italy HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3.5. Spain 5.3.5.1. Spain HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.5.2. Spain HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.6.2. Sweden HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3.7. Austria 5.3.7.1. Austria HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.7.2. Austria HVDC Cables Market Size and Forecast, by Application (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe HVDC Cables Market Size and Forecast, by Type (2022-2029) 5.3.8.2. Rest of Europe HVDC Cables Market Size and Forecast, by Application (2022-2029) 6. Asia Pacific HVDC Cables Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.2. Asia Pacific HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.7. Asia Pacific HVDC Cables Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.1.2. China HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.2.2. S Korea HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.3. Japan 6.3.3.1. Japan HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.3.2. Japan HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.4. India 6.3.4.1. India HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.4.2. India HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.5. Australia 6.3.5.1. Australia HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.5.2. Australia HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.6.2. Indonesia HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.7.2. Malaysia HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.8.2. Vietnam HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.9.2. Taiwan HVDC Cables Market Size and Forecast, by Application (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific HVDC Cables Market Size and Forecast, by Type (2022-2029) 6.3.10.2. Rest of Asia Pacific HVDC Cables Market Size and Forecast, by Application (2022-2029) 7. Middle East and Africa HVDC Cables Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa HVDC Cables Market Size and Forecast, by Type (2022-2029) 7.2. Middle East and Africa HVDC Cables Market Size and Forecast, by Application (2022-2029) 7.7. Middle East and Africa HVDC Cables Market Size and Forecast, by Country (2022-2029) 7.7.1. South Africa 7.3.1.1. South Africa HVDC Cables Market Size and Forecast, by Type (2022-2029) 7.3.1.2. South Africa HVDC Cables Market Size and Forecast, by Application (2022-2029) 7.7.2. GCC 7.3.2.1. GCC HVDC Cables Market Size and Forecast, by Type (2022-2029) 7.3.2.2. GCC HVDC Cables Market Size and Forecast, by Application (2022-2029) 7.7.3. Nigeria 7.3.3.1. Nigeria HVDC Cables Market Size and Forecast, by Type (2022-2029) 7.3.3.2. Nigeria HVDC Cables Market Size and Forecast, by Application (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A HVDC Cables Market Size and Forecast, by Type (2022-2029) 7.3.4.2. Rest of ME&A HVDC Cables Market Size and Forecast, by Application (2022-2029) 8. South America HVDC Cables Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America HVDC Cables Market Size and Forecast, by Type (2022-2029) 8.2. South America HVDC Cables Market Size and Forecast, by Application (2022-2029) 8.7. South America HVDC Cables Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil HVDC Cables Market Size and Forecast, by Type (2022-2029) 8.3.1.2. Brazil HVDC Cables Market Size and Forecast, by Application (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina HVDC Cables Market Size and Forecast, by Type (2022-2029) 8.3.2.2. Argentina HVDC Cables Market Size and Forecast, by Application (2022-2029) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America HVDC Cables Market Size and Forecast, by Type (2022-2029) 8.3.3.2. Rest Of South America HVDC Cables Market Size and Forecast, by Application (2022-2029) 9. Global HVDC Cables Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading HVDC Cables Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. NKT A/S 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Nexans Group 10.3. Prysmian Group 10.4. LS Cable & System Ltd. 10.5. ABB 10.6. Siemens 10.7. General Electric 10.8. Hitachi 10.9. Mitsubishi Electric 10.10. NR Electric 10.11. C-Epri Electric Power Engineering 10.12. ZMS Cable, 10.13. General Cable 10.14. Toshiba Corporation 10.15. ZTT Gupta Power Infrastructure 11. Key Findings 12. Industry Recommendations 13. HVDC Cables Market: Research Methodology 14. Terms and Glossary
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