Global HVDC Cables Market
Global HVDC Cables Market Size, Trends & Growth Opportunity, By Type (Mass Impregnated Cables, Extruded Cables, and Others), By Technology (Capacitor Commutated Converter, Voltage Source Converter, and Line Commutated Converter), By Application (Overhead Line, Submarine, and Underground),By Region and Forecast till 2027
Global HVDC Cables Market
HVDC cables are referred as High Voltage Direct Current cables which are an optimal solution of transmitting electricity over long distance than more widely used AC cables. They offer various advantages over traditional cables are commonly used to provide electricity to oil & gas infrastructure such as floating production storage & offloading and other platforms located in and near offshore.
Market Drivers
The rise in awareness regarding benefits related to use of clean energy sources, and supportive government policies in developed as well as developing economies are some driving factors expected to drive the global HVDC cables market growth over the forecast period. Furthermore, the rise in focus on technological advancements in the field of power sector is also expected to boost the global HVDC cables market growth. Also, expansion of industries, the rise in urbanization, the need for electricity, and long distance transmission network are expected to propel the market growth. The HDVC cables market in the APAC region accounts for largest market share in terms of revenue across the globe.
Market Restraints
High cost of installing HVDC transmission systems and high cost of circuit breakers expected to hamper the global HVDC cables market growth over the forecast period.
Market Segmentation
The Global HVDC Cables Market is segmented into type such as Mass Impregnated Cables, Extruded Cables, and Others, by technology such as Capacitor Commutated Converter, Voltage Source Converter, and Line Commutated Converter. Further, market is segmented into application such as Overhead Line, Submarine, and Underground.
Also, the Global HVDC Cables Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Abb Ltd, Prysmian Group, Nr Electric, Nkt A/S, Nexans, Mitsubishi Electric, Hitachi, General Electric, Siemens, C-Epri Electric Power Engineering, etc.
Market Taxonomy
By Type
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