High Voltage (HV) Cables Market Report

The market for High Voltage (HV) Cables is anticipated to witness significant growth in the years to come. This is attributed to development of grid-connected renewable infrastructure. High Voltage Cables are mainly used in power transfer and distribution, electric stations, national transfer network cabling, and municipal networks. Demand for power is increasing rapidly with the booming population, which is anticipated to fuel the need for High Voltage Cables.

For instance, in the mid 2019, Aberdare Cables, a leading manufacturer of low and medium voltage electric cables, announced its new range of HV cables. The company also launched the high voltage manufacturing plant to expand the manufacturing capability of cables.

Usage of Renewable Forms of Energy to Fuel the Need for High Voltage Cables

With the growing environmental concerns, the government authorities are encouraging the usage of the sustainable or renewable forms of energy so as to cut down the carbon emission levels. This is increasing the need for HV Cables to support a safer and economic mode of power transmission. Moreover, increasing investments by the government in building smart grid technology will induce the demand for High Voltage Cables. Combination of renewable systems with micro-grid networks will create robust demand for HV cables. Surge in the offshore power projects is also likely to positively impact the growth of the HV Cables market.

Market Participants to Launch New HV Cables to Meet the Needs of Energy Projects

The report has scrutinized the strategic initiatives of the leading manufacturers of High Voltage Cables including Elsewedy, Prysmian, ZTT, Nexans, LS Cables, Sumitomo, NKT, Sterlite Power, Furukawa Electric, KEI, APAR, Taihan Electric, Gupta Power, Alfanar, Kelani Cables, KEC, Riyadh Cables, ABB, and Southwire.

Market players are focusing on launching innovative High Voltage (HV) Cables so as to fulfil the requirements of the upcoming energy projects. For instance, in the early 2020, one of the key companies, NKT qualified 525 kv high-voltage dc power cable (sustainably produced) to meet the needs of the German corridor projects. These projects are a vital step in the country’s shift of its energy supply to be derived from the renewable sources. Additionally, it has been observed that the companies are collaborating with other manufacturers to gain traction in the HV Cables market.

Market Segmentation

By Voltage Class

●  50 kV – 110 kV

●  115 kV – 330 kV

●   > 330 kV

By Application

●  Utility

●  Industrial

As far as the voltage class is concerned, demand for 50 kV – 110 kV is high owing to commercial development at a large scale. Application of HV Cables is likely to increase in the utility sector on the back of surge in the number of retail brands, commercial establishments, manufacturing units, and residential townships, which is fueling the demand for electricity. The report also offers revenue breakup for each application and voltage class segment.

By Region

According to the market analysts, most of the companies in the High Voltage Cables market are setting up their base in economies such as India and China on account of the availability of low labor and raw material cost. This is anticipated to boost the growth of the High Voltage Cables market in the APAC region. Another factor that may support the regional growth could be growing infrastructural development in the emerging countries. This scenario is increasing the need to set up robust transmission networks, thereby expanding the application of High Voltage (HV) cable.

QYR Consulting brings to you a list of in-depth reports about the electronics and semiconductors industry. Our effort focuses on streamlining operations for our clients through our insightful data. The evolution of electronics and semiconductors at a breathtaking speed is poised to change businesses as they push for shorter technology life cycles. We assess how these factors are likely to bring in a change in product development.

We promise to deliver unquestionable market insights that cover all geographies. Our unique approach is aimed towards addressing your challenges and helping you find optimum solutions to rise above the cutthroat competition with the best laid plans. We look forward to addressing strategic challenges by developing your growth plans with the help our well-researched reports.