HVDC Cables Market Overview:
The purpose of this study is to provide an in-depth analysis of the HVDC Cables market by segments, industry, and geography. The study provides detailed information on the major factors influencing the growth of the HVDC Cables industry. The study also provides a thorough examination of the market’s value chain.
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Global 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%.
Market Scope:
The research method used to assess and forecast the HVDC Cables market begins with gathering revenue data from key suppliers using secondary research sources. When defining market segmentation, vendor offerings are also considered. Using the bottom-up method, the income of major corporations was utilized to assess the total size of the HVDC Cables market.
Drivers:
• An increasing need for UHVDC cables
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.
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.
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Key Players: the key players are:
• 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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Regional Analysis:
Market share information for North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.
COVID-19 Impact Analysis on HVDC Cables Market: The detailed review of COVID-19 impact on the HVDC Cables market based on import, suppliers, ket players have also been included in the HVDC Cables market report.
Key Questions Answered in the HVDC Cables Market Report are:
- Which segment had the largest share in the HVDC Cables market?
- How is the competitive landscape of the HVDC Cables market?
- Which are the key factors impacting the HVDC Cables market growth?
- Which region has the maximum share in the HVDC Cables market?
- What will be the CAGR of the HVDC Cables market during the forecast period (2021-2027)?
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