HVDC Cables Market 2022|Top Key Players Analysis, Trends, Global Size Forecast To 2028

HVDC Cables Market size is set to hit USD 16 billion by 2030, according to a new research report by Global Market Insights Inc. The need for uninterrupted electricity supply is growing at a strong pace due to rising urbanization and industrialization. As companies are expanding their network domestically and internationally, there is a high demand for T&D systems that can endure the enormous load of operations carried out in factories.

Governments across the world are offering financial support to upgrade the power transmission and distribution infrastructure to meet the energy demands. HVDC cables are suitable for manufacturing plants set up in far-off locations as they are efficient in transmitting large amounts of electricity at longer distances.

The cables are useful for transmission projects that use desynchronized networks. Moreover, the dissipation loss is significantly lower as compared to the HVAC cables and also require lesser material because they use only one power line to transmit electricity. These features will boost global HVDC cables market value through 2022-2030.

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HVDC cables used for underground installations:

The underground installation segment will capture a major share of global HVDC cables market by 2030 as the number of factories are increasing at a notable rate. It has accelerated the demand for electricity, thereby prompting organizations to install underground electric cables.

HVDC underground cables can greatly reduce transmission losses and safely transport large quantities of electricity over longer distances. This type of cable installation can save a lot of money and time for businesses as few cables are required. Advantages, such as high reliability in power supply, reduced electromagnetic fields which avoid health issues, and resistance to extreme weather conditions will amplify the demand for underground installation of HVDC cables.

UHVDC cables gain traction among end-users:

Ultra-high voltage DC cables industry share is predicted to surpass USD 8 billion by 2030. These cables can transmit power higher than 600 kV to longer distances as compared to the high voltage ones. Just like the high voltage cables, UHVDCs can play an important role in reducing the transmission or dissipation losses, which can help companies save money on their electricity bills.

Governments are adopting UHVDC technology as part of their transition towards green energy. For instance, China has confirmed that it will keep investing in expanding its domestic grid infrastructure, with a notable share towards ultra-high voltage transmission lines. The country aims to reinforce electricity stability to boost green power consumption using more reliable T&D networks.

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Role of HVDC cables in cross-border connections:

Cross-border connections will capture a sizeable share of HVDC cables industry by 2030 as the concept of cross-border electricity trade is gradually picking pace. Several countries are gaining awareness about the benefits of cross-border electric connections for their power infrastructure.

Cross-border power trade can support a nation’s goals, such as enhancing the resilience of the grid infrastructure and amplifying the reach or access of electrical networks to remote places. The different projects undertaken by European governments to improve the quality and quantity of electricity transmission will have a positive impact on the adoption of HVDC cables to enable cross-border power connections.

 

Global HVDC cables industry outlook will be favored by the rising demand for a continuous supply of electricity and the introduction of favorable government initiatives to boost the overall power grid infrastructure. Eminent companies, such as Prysmian Group, NKT, Nexans, Mitsubishi Electric Corporation, Hitachi, Siemens AG, General Electric, and Toshiba Corporation, among several others, are the top producers of high, extra-high, and ultra-high HVDC cables. These products are being used in overhead, underground, and submarine installations and have robust applications in intra-regional and cross border deployments.

Report Content

Chapter 1   Methodology & Scope

1.1    Methodology

1.2    Market definitions

1.3    Market estimates and forecast parameters

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    HVDC cables industry 3600 synopsis, 2018 – 2030

2.1.1    Business trends

2.1.2    Voltage trends

2.1.3    Installation trends

2.1.4    Application trends

2.1.5    Regional trends

Chapter 3   HVDC Cables Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Vendor Matrix

3.2    Innovation & technology landscape

3.2.1    Siemens Energy

3.2.2    Hitachi Energy Ltd.

3.2.3    Mitsubishi Electric Corporation

3.2.4    General Electric

3.2.5    Toshiba Corporation

3.2.6    Nexans

3.2.7    Prysmian Group

3.2.8    LS Cable & System

3.2.9    NKT A/S

3.3    Regulatory landscape

3.3.1    North America

3.3.1.1    U.S.

3.3.1.1.1    Safety, Codes & Standards

3.3.1.1.2    Electrical Conductor Standards

3.3.1.1.3    Current Occupational Safety and Health Administration (OSHA) Regulations

3.3.2    Europe

3.3.2.1    Recommendations to improve HVDC cables system reliability- A joint ENTSO-E and Europa cable

3.3.2.1.1    Recent Concern

3.3.2.2    Regulation (EU) 2017/1485 — guideline on electricity transmission system operation

3.3.2.2.1    Key Points

3.3.2.2.2    General Aspects

3.3.2.2.3    Technical Sections

3.3.2.3    UK

3.3.2.3.1    Safety Standards for Electrical Installations and Equipment in Explosives Facilities (UK)

3.3.2.3.1.1    Protection from Power Supply Authority Overhead Power Lines

3.3.2.3.2    Position, insulation, and protection of overhead lines

3.3.2.3.3    Electrical Distribution Within Explosives Areas

3.3.2.3.4    Crossing of Roads and Railways

3.3.2.4    France

3.3.2.4.1    Directive 96/92/EC

3.3.2.4.2    Directive 2003/54/EC

3.3.2.4.3    Directive 2009/72/EC

3.3.3    Asia Pacific

3.3.3.1    China

3.3.3.2    Overhead Line Installations

3.3.3.2.1    Joints of Overhead Lines

3.3.3.2.2    Service to Building

3.3.3.2.3    Conductor to Ground Clearance

3.3.3.2.4    Stay Wire

3.3.3.2.5    Carrier Wire

3.3.3.2.6    Earthing of Metallic Parts and Earth Leakage (Protection)

3.3.3.2.7    JRC Policy – China-EU electricity transmission link

3.3.3.2.7.1    Scope

3.3.3.3    Central Asia

3.3.3.3.1    CASA-1000 Project

3.3.3.3.2    Financing and Building the CASA-1000 System

3.3.3.3.3    Applicable Policy, Legal and Administrative Framework

3.3.3.4    Southeast Asia

3.3.3.5    India

3.3.3.5.1    Standards for construction for electrical plants and electrical lines

3.3.3.5.2    Transmission works under Green Energy Corridor – I

3.3.3.5.3    National Electricity Plan II (Transmission)

3.3.3.5.4    Scheme for financial restructuring of State Distribution Companies (Discoms)

3.3.4    Middle East & Africa

3.3.4.1    UAE

3.3.4.1.1    The Exclusive Economic Zone and Continental Shelf Laws of 2004 and 2014

3.3.4.1.2    Procedure for examination of the application

3.3.4.1.3    Regulations and Regulatory Issues

3.3.4.2    Africa

3.3.4.2.1    West Africa

3.3.4.2.2    Guidelines for transmission cost allocation for WAPP:

3.3.4.2.3    Electricity policy and decision-making process in West Africa:

3.3.4.2.4    Regulatory framework:

3.3.4.2.5    South Africa

3.3.4.2.5.1    Key policies

3.3.4.2.5.2    Key statutes

3.3.4.2.5.3    Key sector-specific statutes include:

3.3.4.2.6    Regulatory Framework

3.3.5    Latin America

3.3.5.1    Brazil

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

3.7.1    Bargaining power of suppliers

3.7.2    Bargaining power of buyer

3.7.3    Threat of new entrants

3.7.4    Threat of substitutes

3.8    Competitive landscape, 2022

3.8.1    Strategy dashboard

3.8.1.1    Siemens Energy

3.8.1.1.1    Joint Venture

3.8.1.1.2    Awards

3.8.1.1.3    Contract

3.8.1.1.4    Product launch

3.8.1.1.5    Major Projects

3.8.1.2    Hitachi Energy Ltd.

3.8.1.2.1    Contract

3.8.1.2.2    Order

3.8.1.2.3    Acquisition

3.8.1.2.4    Product launch

3.8.1.3    Mitsubishi Electric Corporation

3.8.1.3.1    Product Launch

3.8.1.4    General Electric

3.8.1.4.1    Contract

3.8.1.4.2    Business Expansion

3.8.1.4.3    Product Launch

3.8.1.5    Toshiba Corporation

3.8.1.5.1    Product launch

3.8.1.6    Nexans

3.8.1.6.1    Contract

3.8.1.6.2    Agreement

3.8.1.6.3    New Establishment

3.8.1.6.4    Major Projects

3.8.1.7    Prysmian Group

3.8.1.7.1    Order

3.8.1.7.2    Agreement

3.8.1.7.3    Contract

3.8.1.7.4    Partnership

3.8.1.7.5    Product Launch

3.8.1.7.6    Major Projects

3.8.1.8    Taihan Electric Wire & Co.

3.8.1.8.1    Contract

3.8.1.9    LS Cable & System

3.8.1.9.1    Agreement

3.8.1.9.2    Product Launch

3.8.1.10    NKT A/S

3.8.1.10.1    Contract

3.8.1.10.2    Product Launch

3.8.1.10.3    Major Projects

3.8.1.11    Sumitomo Electric Industries Ltd

3.8.1.11.1    Project Completion

3.8.1.11.2    Joint Venture

3.8.1.11.3    Major Projects

3.9    PESTEL Analysis

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