Selbyville, Delaware, April 25, 2022 (GLOBE NEWSWIRE) --
The HVDC cables market size is expected to record a valuation of USD 16 billion by 2030, according to the most recent study by Global Market Insights Inc.
The market growth is driven by the ongoing grid modernization along with the acceptance of advanced cables and electric equipment across the transmission network. Rapid industrialization and urbanization across the developing regions have compelled the major invertors across the developing region to install an advanced infrastructure will spur the industry landscape. Government targets and schemes to deploy the renewable powered sources in order to cater rising emission will boost the deployment of advanced power cables.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3510
The corona virus had a minimal or no impact on the HVDC cables market. The continuous fund flow as well as ongoing investments from the public and private partners toward the renewable power sources has propelled the industry scenario.
The UHVDC cables are estimated to exceed USD 8 billion by 2030. Rising electricity demand to supply over a long-distance will shift consumer inclination toward the product deployment. Increasing R&D investments by leading industry players to install energy efficient transmission lines will augment the market progression.
The expansion of industries, commercial buildings and residential infrastructure across the developing countries favored by the large-scale power infrastructure upgradation will foster the overhead HVDC cables market. Easy maintenance as well as operations of above ground transmission grid structure along with versatile deployment of these networks across the difficult terrains will further enhance the product adoption. The continuous rise in the number of projects across the countries with power supply shortage to achieve the high electricity demand will complement the business scenario.
Germany HVDC cables market is poised to register a significant growth owing to the increasing number of solar and wind farms along with refurbishment of transmission networks. The government efforts to install effective power supply systems to minimize the transmission losses will proliferate the industry outlook. For instance, Prysmian signed a contractual agreement with the Amprion GmbH in 2020, to supply and provide ±525 kV HVDC cable systems for A-Nord project. In addition, growing investments by the country-based grid operators in order to expand the transmission links will positively influence the market demand.
Leading participants across the HVDC cables market includes Siemens AG, Hitachi, Toshiba Corporation, Mitsubishi Electric Corporation, General Electric, Sumitomo Electric Industries, Nexans, Iljin, ZTT, Gupta Power Infrastructure, ZMS Cable, Prysmian Group, alfanar, Taihan Electric Wire, LS Cable & System, and NKT.
Request for customization of this research report @ https://www.gminsights.com/roc/3510
Some major findings of HVDC cables market report includes:
- Favorable government mandates, norms, and targets toward replacement of conventional T&D infrastructure.
- Rising investments toward R&D sector to integrate efficient, low sagging and conductive power cables with low mechanical, electrical, and thermal losses will accelerate the market expansion.
- Large scale renewable power integration coupled with ongoing inclination toward the expansion of renewable energy infrastructure will fuel the industry dynamics.
Table of Contents (ToC) of the report
Chapter 3 HVDC Cables Market Insights
3.1 Industry ecosystem analysis
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.4.1 Top 10 countries impacted by COVID- 19
3.4.2 Overall view
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 North America and Europe
3.5.1.1.1 Stringent energy efficiency reforms
3.5.1.1.2 Expansion of smart grid networks
3.5.1.1.3 Refurbishment & retrofit of existing grid infrastructure
3.5.1.2 Asia Pacific
3.5.1.2.1 Rising peak load demand
3.5.1.2.2 Expansion of micro-grid networks
3.5.1.2.3 Grid stability & security of supply concerns
3.5.1.3 Middle East, Africa and Latin America
3.5.1.3.1 Increasing electricity demand
3.5.1.3.2 Integration of a sustainable electrical network
3.5.2 Industry pitfalls & challenges
3.5.2.1 Slow paced technological evolution across developing regions
3.5.2.2 High dependency on imports
3.6 Growth potential analysis
3.7 Porter's Analysis
3.8 Competitive landscape, 2022
3.9 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/hvdc-cables-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
