Latin America High Voltage Cable Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report suggests that the high voltage cable market in Latin America is estimated to advance with a compound annual growth rate of 5.73% during the forecast period 2023-2030. Brazil, Mexico, and Rest of Latin America are studied in the region’s market.
Earlier, the Mexican government’s energy development plant reported that energy generation with clean energy sources was around 26.6% in 2019. This percentage is expected to surge as the government invests in renewable energy sources. Moreover, the infrastructure developments and energy trade with the US have increased the need for HVCs in the energy sector. Therefore, as stated above, these factors are propelling the high voltage cable on a growth path.
Further, the government of Argentina has taken numerous steps to support electricity infrastructure. For instance, the government has boosted private investment in power network expansion. The Public-Private Partnership law was introduced to regulate and encourage private investments to support the nation’s economy. Given these steps, the adoption of high voltage cables might grow over the forecast period, creating opportunities for the HVC market.
COMPETITIVE OUTLOOK
The major firms in the high voltage cable market include Hitachi Ltd, Prysmian Group, Dubai Cable Company Pvt Ltd, and Nexans SA.
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