The high voltage cable market in Europe is expected to grow from US$ 8.01 Bn in 2018 to US$ 12.49 Bn by the year 2027 with a CAGR of 5.4% from the year 2019 to 2027.
The need for transporting power over long distances for electrifying remote areas and offshore application areas is expected to drive the growth of high-voltage cable market, especially in developing and underdeveloped countries, during the forecast period. Deployment of high voltage cables in remote areas and offshore locations is forecasted to be the upcoming trend in the market. These areas are generally located far away from power infrastructure, which necessitates transportation of power to long distances with minimum power loss. The need for power infrastructure is growing rapidly in remote areas such as coastal areas, hilly areas, and islands. High-voltage cables also find applications in the transportation of power to and from offshore locations, such as wind and solar farms.
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During the forecast period of 2019 to 2027, the underground high voltage cable is anticipated to be the largest contributor in the high voltage cable market. However, submarine high voltage cable segment is projected to be the fastest-growing type with the highest CAGR over the forecast period. High voltage underwater cables is, they are invisible and are being hidden below surfaces. Moreover, voltage losses are lower with underground cables than overhead lines. However, most transmission losses transpire within the lower voltage distribution networks. HVUCs are not at risk of storm damage apart from water damage and are far less likely to cause death or injuries due to accidental contact with the lines/cables.
Continuous infrastructural development across Germany, especially in remote and offshore areas, is expected to drive the deployment of high-voltage cables in the country. Moreover, the growing renewable power generation capacity in Germany is anticipated to boost the overall growth of high-voltage cable market during the forecast period. After Germany, Sweden dominated the Europe high voltage cable market. One of the most important and apparent advantages of HVUCs is they are invisible, being hidden below surfaces. Moreover, voltage losses are lower with underground cables than overhead lines. However, most transmission losses transpire within the lower voltage distribution networks. HVUCs are not at risk of storm damage apart from water damage and are far less likely to cause death or injuries due to accidental contact with the lines/cables. Sweden is the largest consumer of renewable energy in the Francean Union. The figure given below highlights the revenue share of the Mexico in the high voltage cable market in the forecast period:
Europe High Voltage Cable Strategic Insights
Strategic insights for the Europe High Voltage Cable provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
key company profiles
Dubai Cable Company – Ducab
Furukawa Electric Co., Ltd.
Nexans SA
NKT A/S
Prysmian Group (General Cable Corporation)
Siemens AG
Southwire Company, LLC
Sumitomo Electric Industries, Ltd.
TELE-FONIKA Kable SA (TF Kable)
ZTT Group
Europe High Voltage Cable Regional Insights
The geographic scope of the Europe High Voltage Cable refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
