HVDC Cables Market Overview:
HVDC Cables Market Research Report analyzed the current state in the definitions, classifications, applications, and industry chain structure. The analysis provides unbiased professional commentary on the present market scenario, prior market performance, production and consumption rates, demand and supply ratios, and income generation forecasts for the projected period. The HVDC Cables market study also gives information on the leading businesses functioning in the HVDC Cables industry’s strategic ambitions and company growth strategies.
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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%.
COVID-19 Impact on HVDC Cables market:
The COVID-19 pandemic has had a severe influence on the worldwide HVDC Cables business. HVDC Cables production facilities have been suspended due to global downturn and personnel scarcity. The COVID-19 pandemic has resulted in a severe and prolonged decline in production utilization, and travel bans and facility closures have kept employees away from their facilities, resulting in a slowdown in the growth of the HVDC Cables market in 2020. However, the negative impact of COVID-19 on the HVDC Cables market is projected to be temporary, and the industry is predicted to rebound rapidly by early 2021, owing to the high demand for HVDC Cables .
Drivers :
The use of ultra-high voltage direct current cables allows for the efficient transmission of electricity over long distances. The capacity to reduce power loss over long distances has increased installations and demand globally. To keep up with the pace of the market, many major industry players are introducing new products. For instance, in May 2021, NKT began constructing their 525 kV HVDC XLPE underground cables, which are anticipated to be used in Germany’s upcoming high voltage direct current corridor projects. By the end of the forecast period, the market segment is predicted to be worth US$ 530 million, according to an MMR analyst.
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Segmentation:
The HVDC Cables Market is divided into three categories based on Application: Overhead Line, Submarine, and Underground. By accounting for 51.3% of the market in 2020, the submarine segment had the largest share. The market is expanding due to the increasing use of HVDC cables in submarine projects around the world. Additionally, the demand for the product is rising due to ongoing off-shore projects around the world. For instance, the United Kingdom, Spain, and France have collaborated on the 1330 km undersea HVDC installation known as the BRITIB project. The construction of the Russia-Japan grid, which will link the energy grids of the two countries using high-voltage direct current (HVDC) cables, was decided upon by Russia and Japan.
Regional Analysis:
The report’s region section also includes specific market affecting elements and changes in market regulation that affect the market’s present and future developments. Some of the primary indicators utilized to estimate the market scenario for different regions include new sales, replacement sales, national demographics, regulatory acts, and import-export tariffs. In addition, the existence and availability of global brands, as well as the obstacles they face owing to big or scarce competition from local and domestic brands, as well as the influence of sales channels, are taken into account when offering forecast analysis of national data.
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
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The study gives a complete assessment of the presence of the HVDC Cables market in various areas and countries. Through a deep geographical assessment of the industry, the research analyst seeks to find hidden development prospects that may be used by companies in various regions of the world. The worldwide HVDC Cables Market research gives precise knowledge that prepares market players to compete successfully with their largest competitors based on growth, sales, and other critical factors. Significant market features such as market drivers and barriers are separated from important development prospects and industry trends in the research study.
Global HVDC Cables Market research report offers:
- The research contains a wealth of information, including market dynamics, scenarios, and prospects for the projection period.
- Quantitative, qualitative, value (USD Million), and volume (Units Million) statistics are included in segments and sub-segments.
- Data at the regional, sub-regional, and country levels contain demand and supply dynamics, as well as their impact on the market.
- In the year 2020, the competitive landscape has included a share of significant companies, new advances, and tactics.
- These players provide comprehensive goods, important financial information, latest advancements, SWOT analysis, and strategies.
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