The size of the global market for High Voltage Cables and Accessories is expected to reach USD 52.37 billion by 2028, expanding at a compound annual growth rate (CAGR) of 7.25%.
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"The Global High Voltage Cables and Accessories Market 2018-2028 (USD Billion)")
High voltage cables & accessories are increasingly used for power transmission application at high voltage. These cables are made up of semi-conducting insulation shield, sheath, conductor shield, insulator, metallic stearates insulation shield, and conductor. High voltage cables & accessories contains bare conductors, cross-linked polyethylene, mass impregnated, and accessories such as terminations and cable joints. Cross-linked polyethylene and mass impregnated are increasingly used for underwater and underground cable systems. Increasing applications for long range electricity supply is expected to drive high voltage cables & accessories market over the coming years.
The global high voltage cables & accessories market revenue was valued at >USD 30.0 billion in 2019. Increasing penetration of renewable sources for power generation, growing demand for enhanced transmission network in Asian and African countries, and rising construction of grid interconnections are expected to open new opportunities for high voltage cables & accessories market over the coming years.
Rapid urbanization followed by increasing shift towards green energy are expected to create demand for new power transmission lines which are estimated to further drive the market in coming years.
High Voltage Cables and Accessories Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 52.37 billion |
| Growth Rate | CAGR of 7.25% during 2018-2028 |
| Segment Covered | By Type, Product, Voltage, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Synergy Cables Ltd. (Israel), Siemens AG (Germany), Brugg Kabel AG (Switzerland), Hitachi Ltd. (Japan), Cable Corporation of India Ltd. (India),, General Electric (U.S.) , RPG Cables (India),, NKT Holdings A/S (Denmark), Finolex Cables Ltd (India), Prysmian Group (Italy), Nexans S.A. (France) |
Key Segment Of The High Voltage Cables and Accessories Market
By Type,(USD Billion)
• Overhead
• Underground
• Submarine
By Product,(USD Billion)
• Conductors Overhead
• Fittings & Fixtures Underground & Submarine
• Xlpe Cables
• Mi Cables
• Cable Joints
• Cable Termination
• Others
By Voltage Ratings,(USD Billion)
• Up To 100 K V
• 101 K V 230 K V
• 231 K V 400 K V
• Above 400 K V
Regional Overview,(USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Asia Pacific dominated the market for high voltage cables and accessories market and accounted for the largest revenue share.
The major contenders in the global market are high voltage cables and accessories market include Synergy Cables Ltd. (Israel), Siemens AG (Germany), Brugg Kabel AG (Switzerland), Hitachi Ltd. (Japan), Cable Corporation of India Ltd. (India),, General Electric (U.S.) , RPG Cables (India),, NKT Holdings A/S (Denmark), Finolex Cables Ltd (India), Prysmian Group (Italy), Nexans S.A. (France)
The Global high voltage cables and accessories Market is Segmented on the basis of Installation,Voltage,Regions.
Increasing population coupled with rising energy demand in developed as well developing economies are expected to open new avenues for high voltage cables & accessories market over the coming years. Rising power transmission and distribution demand followed by rapidly ageing grid infrastructure in North America and Europe is expected to create demand for smart grids over the coming years. Increasing demand for advanced smart grids in these regions will require power transmission network; which in turns is expected to provide lucrative opportunity for high voltage cables & accessories manufacturers. Stringent government regulations regarding increasing environmental carbon emission and effect on fossil fuels on society has forced countries to adopt renewable sources for power generation. Increasing government initiatives towards green energy target is expected to create demand for high voltage cables & accessories for new power transmission lines.
Installation Segment
The global high voltage cables & accessories market by installation is segmented into submarine, overhead, and underground. Overhead high voltage cables and accessories products are fittings, fixtures, conductors, overhead ground wires, insulators, and spacers. Underground high voltage cables and accessories products are MI cables, cable terminations, XLPE cables, and cable joints. Submarine high voltage cables and accessories products are brackets, insulators, and cable lamps. Overhead high voltage cables & accessories segment accounted for more than 40% of the overall market share in 2019.
Voltage Segment
The global high voltage cables & accessories market by voltage is categorized into above 400 KV, 251 – 400 KV, and 100 – 250 KV. 251 – 400 KV voltage segment accounted for more than 35% of overall market share in 2019 and it is expected to continue its dominancy over the forecast period. Growing power transmission industry in developed as well developing economies are expected to open new opportunities for medium voltage cables & accessories; which in turns will further add 252 – 400 KV voltage segment market growth over the coming years.
In 2019, Asia Pacific accounted for >30% of the overall market share. Increasing power generation capacity coupled with renewable infrastructure investment in Southeast Asia, India, and South Korea is expected to open new opportunities for high voltage cables & accessories industry over the coming years. Government initiatives towards smart grid investment followed by strengthening service industry will further drive the market. Rapidly ageing grid infrastructure followed by well-established telecom industry in North America and Europe are expected to create demand for high voltage cables & accessories over the coming years.
The global high voltage cables & accessories industry has large number of well-established manufacturers and small & medium scale manufactures. Key companies operating in this industry are Baosheng High Voltage Cable, Kabelwerke Brugg, Jiangnan Group, EL Sewedy Electric Company, LS Cable & System, Nexans S.A., Sumitomo Electric Industries, General Cable Corporation, Dubai Cable Company Ltd., Southwire Company, Tianjin Suli Cable Group, Furukawa Electric, , Tele-Fonika Kable Sa, NKT Cables Group A/S, and Prysmian S.P.A. Manufacturers operating in this industry are adopting merger & acquisition, new product development, technological advancement, research & development, and facility expansion in order to form strategies to increase their customer base.