High Voltage Switchgear Market Size By Voltage (36 kV, 72.5 kV, 123 kV, 145 kV), By Installation (Indoor, Outdoor), By Breaking Capacity (25 kA, 31.5 kA, 40 kA, 50 kA, 63 kA), By Current (600 A, 1200 A, 2000 A, 3150 A, 4000 A), By Product (Dead Tank, Live

High Voltage Switchgear Market Size By Voltage (36 kV, 72.5 kV, 123 kV, 145 kV), By Installation (Indoor, Outdoor), By Breaking Capacity (25 kA, 31.5 kA, 40 kA, 50 kA, 63 kA), By Current (600 A, 1200 A, 2000 A, 3150 A, 4000 A), By Product (Dead Tank, Live Tank, GIS), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Global High Voltage Cables Market is expected to witness lucrative growth and drive sizeable revenues by 2030 on account of the ongoing expansion of smart grid networks. The continuous digital transformation and the rapid adoption of advanced AI systems have optimized grid networks across Europe and North America. Besides, growing preference toward IT integration across the electricity industry will foster the deployment of smart grid infrastructure, which, in consequence, will boost the demand for high-voltage cables.

For instance, in November 2022, the European Investment Bank (EIB) and Endesa inked a €250 million ($249.8 million) smart grid credit line to stimulate Spain’s distribution network. The accelerating energy transition focused on accomplishing more resilient and efficient electricity infrastructure will strengthen the high-voltage cables market outlook through 2030.

The high-voltage cables market is segregated based on voltage, current, installation, and region.

With respect to the voltage category, the 110 kV-220 kV segment is poised to garner appreciable revenues by the end of 2030, owing to the rapid expansion of the offshore oil platforms and the proliferation of heavy metal & mining industries. Besides, the increasing consumer dependency on large-scale enterprises, such as manufacturing, power generation, packaging, etc., will help the segment gain significant impetus over the next ten years.

Based on the current, the HVDC segment is expected to amass a sizeable revenue share and depict remarkable growth through 2030. High voltage cables are widely integrated into HVDC (high voltage direct current) systems to help interconnect countries, regions, and electrified oil and gas platforms. The technology also allows efficient long-distance transmission at high power levels while providing a safe and stabilizing connection to existing electricity grids, thus driving product demand over the forecast timeframe.

Speaking of the type of installation, the overhead lines segment is slated to record a noticeable valuation by 2030. The segment growth can be attributed to the wide range availability of low-cost power cables and the growing emphasis on integrating high-frequency distribution links. In addition, rising concerns pertaining to maintaining an energy-efficient infrastructure and the increasing product deployment across the landlocked area will augment the segment share.

Regionally, the North America high voltage cables market held more than 17% market share in 2021 and is anticipated to exhibit a decent CAGR from 2022 to 2030. The accelerating shift toward upgrading and rebuilding existing transmission lines and the increased adoption of smart grid technologies will fuel the industry landscape across North America over the forthcoming years.