HVAC Cables Market By Voltage (110 kV - 220 kV, Above 220 kV) , By Category (Overhead, Submarine, Underground) : Global Opportunity Analysis and Industry Forecast, 2024-2033
HVAC Cables Market Expected to Garner $34.0 Billion by 2033, Growing at a CAGR of 6.7%
The global HVAC cables market is expected to grow primarily due to the rising need for efficient power transmission from renewable sources. The Asia-Pacific region is predicted to witness profitable growth by 2033.
As per the report published by Research Dive, the global HVAC cables market was valued at $18,3 billion in 2023 and is expected to register a revenue of $34.0 billion by 2033, at a CAGR of 6.7% during the forecast period 2024-2033.
Dynamics of the MarketThe increasing need for efficient power transmission from renewable sources, rapid urbanization & increased population density in major cities, and supportive policies & incentives for infrastructure development & energy efficiency are the factors expected to make the HVAC cables market a highly profitable one during the forecast period.
However, according to market analysts, high costs and complex installation requirements might restrain the growth of the market.
Advancements in cable technology, modernization of outdated power grids & infrastructure, and increased investment in renewable energy projects are predicted to present significant growth opportunities for the global HVAC cables market.
Key Players of the MarketThe major players of the HVAC cables market include ABB Ltd, Furukawa Electric Co. Ltd, BaoSheng, Inc., KEC International Ltd, Lutze Inc., LS Cable & System Ltd., Nexans S.A., Prysmian Group, NKT A/S, and Quanta Services, Inc.
What the Report CoversIn addition to the details highlighted in this description, the comprehensive final report delves into essential market aspects. These encompass a market overview, SWOT analysis, market dynamics, Porter’s five forces analysis, segmentation (key trends, regional analysis, and forecast analysis), and company profiles (including company overview, product portfolio, operating segments, strategic initiatives, and financial performance).
Key Market SegmentsBy Voltage110 kV - 220 kV
Above 220 kV
By CategoryOverhead
Submarine
Underground
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA
Key Market PlayersBaoSheng,Inc.
Prysmian Group
Quanta Services, Inc.
ABB Ltd
Furukawa Electric Co. Ltd
KEC International Ltd.
LS Cable & System Ltd.
lutze inc.
NEXANS S.A.
NKT A/S