Global High Voltage Cables and Accessories Market Size study & Forecast, by Product Type (Cables, Accessories), by Voltage (72.5 kV, 123 kV, 145 kV, 170 kV, 245 kV, 400 kV and above), by Installation (Overhead, Underground, Submarine), by Conductor Type (

Global High Voltage Cables and Accessories Market Size study & Forecast, by Product Type (Cables, Accessories), by Voltage (72.5 kV, 123 kV, 145 kV, 170 kV, 245 kV, 400 kV and above), by Installation (Overhead, Underground, Submarine), by Conductor Type (Copper, Aluminum), by End User (Power Utilities, Renewables, Industrial), and Regional Analysis, 2023-2030

Global High Voltage Cables and Accessories Market is valued approximately USD 37.9 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2023-2030. High voltage cables and accessories refer to specialized components used in the transmission and distribution of electricity at high voltage levels. These cables are accompanied by accessories such as cable joints, terminations, connectors, insulators, and other supporting equipment that ensure proper installation, connectivity, and reliability of the high voltage cable systems. These components play a critical role in facilitating the efficient and safe transmission of electricity, particularly in applications involving renewable energy integration, grid expansion, industrial electrification, and infrastructure development. The factors driving the growth of the market are rising focus on renewable energy sources and increasing investment in Power Transmission and Distribution.

According to International Renewable Energy Agency, 2022 has seen the largest increase in renewable energy capacity to date- the world added nearly 295 GW of renewable energy, increasing the stock of renewable energy by 9.6% and contributing an unprecedented 83% of global power additions. The growth of solar and wind power, as well as the continued decommissioning of fossil fuel power plants in several major economies, are largely to blame. Another factor is increasing investment in Power Transmission and Distribution as it will support the demand for high voltage cables and accessories as part of grid infrastructure enhancement projects. Moreover, increasing adoption of Electric Vehicles (EVs) and advancements in high voltage cable technology may create abundant opportunities in the market. However, the high cost of High Voltage Cables and Accessories and intense competition from alternative technologies such as overhead lines, underground lines and wireless power transmission stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global High Voltage Cables and Accessories Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the region’s oil and gas development operations as well as the continuing replacement of outdated high voltage cable grids. However, Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as industrialization, urbanization, smart grids, power transmission and distribution infrastructure projects, power generation, and investments in T&D infrastructure.

Major market player included in this report are:
Prysmian Group
Sumitomo Electric Industries Ltd.
LS Cable & System Ltd.
Taihan Cable & Solution Co., Ltd.
Elsewedy Electric Company
PFISTERER Holding AG
Brugg Kabel AG
Southwire Company, LLC
Tele-Fonika Kable SA
Synergy Cables

Recent Developments in the Market:
In May 2023, Prysmian Group made an announcement that a contract worth more than USD 864.9 million was successfully acquired. This agreement relates to the creation of a fresh project for power interconnection between France and Spain that will be executed for INELFE.
In April 2023, Sumitomo Electric Industries, Ltd. announced to expand its power cable facility in the Scottish Highlands, UK.

Global High Voltage Cables and Accessories Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Product Type, Voltage, Installation, Conductor Type, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type:
Cables
Accessories

By Voltage:
72.5 kV
123 kV
145 kV
170 kV
245 kV
400 kV and above

By Installation:
Overhead
Underground
Submarine

By Conductor Type:
Copper
Aluminium

By End User:
Power Utilities
Renewables
Industrial

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Prysmian Group
Sumitomo Electric Industries Ltd.
LS Cable & System Ltd.
Taihan Cable & Solution Co., Ltd.
Elsewedy Electric Company
PFISTERER Holding AG
Brugg Kabel AG
Southwire Company, LLC
Tele-Fonika Kable SA
Synergy Cables

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