High Voltage Cables Market to Exhibit 7.11% CAGR during 2019-2026; Rise in Popularity of Renewable Sources for Power Generation to Promote Growth

The global high voltage cables market is expected to reach USD 54.97 Billion by 2026, according to a report by Fortune Business Insights. Various strategies such as the installation of high voltage submarine cables, signing collaborative contracts, and others adopted by leading players are expected to promote the high voltage cables market growth.

According to a report by Fortune Business Insights, titled, “High Voltage Cables Market Size, Share & Industry Analysis, By Installation (Overhead, Underground, Submarine), By Voltage (100 kV – 250 kV, 251 kV – 400 kV, Above 400 kV), By End-User (Industrial, Utility) and Regional Forecast, 2019-2026,” the market is expected to grow from USD 31.89 Billion in 2018 at a CAGR of 7.11% during the forecast period from 2019 to 2026.

High voltage cables are utilized to transmit and distribute power at high voltages. These cables are equipped with structural elements of insulators, single or more than one conductor, and protective jackets. High voltage cables are more efficient in transmitting power as compared to other cables.

This is because high voltage cables have additional internal layers for controlling the flow of current in the insulation jacket around the conductor. This further helps to reduce power loss in the case of long-range transmissions. High voltage cables have the ability to run as buried cables in industries, submarine cables for power transmission between countries and states.

Utility Segment to Lead Market with Application in Wide Number of Sectors

The market is classified on the basis of installation, voltage, end user, and geography. On the basis of installation, the market is categorized into overhead, submarine, and underground cables. The overhead cables installation stands dominant because of low transmission losses through long distances and ease in installation processes.

Based on voltage, the market is segmented into 100 kV to 250 kV, 251 kV to 400 kV, and above 400 kV. With the maximum application of high voltage cables between the range of 251 kV to 400 kV, this segment is likely to remain dominant in the coming years backed by favorable high voltage cables market trends. On the other hand, the 400kV segment is likely to witness progressive growth in the forecast duration due to its advanced technology features.

With respect to end user, the market is grouped into utility and industrial, among which the utility segment is expected to witness dominance. This is attributable to the fact that utility voltage cables serve most of the nation of the sector-wise.

Rise in Demand for Power Generation for Various Industrial Purposes Enables Asia Pacific Emerge Dominant

From a geographical perspective, Fortune Business Insights foresees Asia Pacific to hold the maximum high voltage cables market share due to the rise in demand for energy. In 2018 the Asia Pacific market was valued at USD11.50 Billion. This is attributable to the surge in human population and increasing need to provide electricity for various residential, industrial and commercial purposes that are expected to help this region boost the regional market.

On the other side, Europe stands as the second-largest market because of the wide adoption of green energy cables in most of the European nations, in order to utilize renewable sources for generating power. This, coupled with the setting up of new smart grids in major nations such as UK, Germany, Russia, Spain, Italy, and others will help create lucrative growth opportunities for the market in Europe in near future.

The competitive landscape of the high voltage cables market is fragmented owing to the presence of many players.

Some of the significant players operating in the high voltage cables market include:

• Riyadh Cables Group Company


• Universal Cables Ltd


• Schneider Electric


• ZTT


• Dubai Cable Company - Ducab


• Furukawa Electric Co., Ltd.


• General Cable


• Prysmian Group


• Nexans


• NKT


• ABB


• Jiangnan Group Limited


• Tratos


• Brugg Cables


• Synergy Cables

Browse Complete ReportDetails: https://www.fortunebusinessinsights.com/industry-reports/high-voltage-cable-market-100794

Global High Voltage Cables Market Scope Table of Segmentation