The Netherlands High Voltage Cable Market Forecast 2024-2032

The Netherlands High Voltage Cable Market Forecast 2024-2032

The Netherlands high voltage cable market is anticipated to grow at a CAGR of 6.01% over the forecast period of 2024-2032. It is set to reach a revenue of $1078.62 million by 2032.

MARKET INSIGHTS

The Netherlands has set an ambitious goal to achieve a sustainable, reliable, and affordable energy system by 2050. As part of this goal, the country aims to reduce CO₂ emissions by half and generate approximately 40% of its electricity from sustainable sources such as offshore wind and biomass. This reduction will be achieved through a combination of increasing renewable energy and enhancing energy efficiency. Additionally, the Netherlands plans to utilize nuclear energy and implement Carbon Capture and Storage (CCS) technologies.

To complement these efforts, the Netherlands is also exploring innovative energy sources, including wave energy, algae, and biomass. The country has pioneered solutions in decentralized energy production, particularly in greenhouses, CO₂ recycling, and waste heat utilization for its energy-intensive horticulture industry. Consequently, the proportion of installed decentralized capacity in the Netherlands is notably high compared to other countries. Supporting this energy transition, the Netherlands high voltage cable market is crucial for facilitating efficient transmission and distribution of electricity generated from these sustainable sources.

The high voltage cable market in the Netherlands plays a vital role in supporting the country’s energy transition. With the increasing integration of renewable energy sources like offshore wind farms and biomass plants, there is a growing need for efficient and reliable transmission infrastructure. High voltage cables are essential for connecting these renewable energy installations to the national grid, ensuring that the generated electricity is effectively distributed across the country. This infrastructure upgrade supports the delivery of clean energy and enhances grid stability and resilience, accommodating the fluctuating nature of renewable energy sources.

Moreover, advancements in technology and materials are significantly benefiting the high voltage cable market in the Netherlands. Innovations such as superconducting cables and improved insulation materials are boosting the efficiency and capacity of high voltage cables, making them more suitable for long-distance transmission and high-power applications. These technological advancements are critical as the country continues to expand its renewable energy capacity and upgrade its electrical grid. Therefore, the Netherlands high voltage cable market is inclined to significant growth, driven by the country’s commitment to achieving a sustainable and reliable energy system by 2050.

SEGMENTATION ANALYSIS

The Netherlands high voltage cable market segmentation includes end-user and installation. The installation segment includes industrial, renewable energy, and infrastructure. High voltage cables are essential for transmitting electricity to large commercial complexes, such as colleges, office complexes, and shopping malls, that require their substations. These cables, whether overhead or underground, play a crucial role in power transmission within the commercial sector. As new mega projects are planned and constructed, especially in emerging nations, the demand for high voltage cables is projected to rise significantly.

COMPETITIVE INSIGHTS

Some of the top firms operating in the Netherlands high voltage cable market include Hitachi Ltd, Nexans, NKT Cables, Prysmian Group, etc.

Prysmian Group was established in 2011 through the merger of Prysmian and Draka, both renowned innovators in the cable industry, and is headquartered in Italy. It is a leading manufacturer and service provider for electric power transmission and telecommunications cables, operating in 50 countries worldwide.

The company is structured into three key segments: energy projects, energy products, and telecom. Prysmian Group’s energy projects segment focuses on high-tech solutions and customized products. The energy products segment includes network components and power distribution services catering to trade and installers. The telecom segment further encompasses optical fiber, optical cables, connectivity components, accessories, OPGW (optical ground wire), and copper cables.