High Voltage Cable Market Size and Company Analysis 2027

High Voltage Cable Market to 2027 - Global Analysis and Forecasts by Type (Overhead, Underground and Submarine); & End User (Industrial, Renewable and Infrastructure)

Publication Month : Aug 2019

  • Report Code : TIPTE100000464
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 186
Inquire Before Buy

PRICING

$4550

$2730

The global high voltage cable market accounted to US$ 28.8 Bn in 2018 and is expected to grow at a CAGR of 6.1% during the forecast period 2019 – 2027, to account to US$ 47.8 Mn by 2027.

The high voltage cable market is led by the Asia Pacific region in 2018, followed by Europe in the second position. The dominance of the Asia Pacific region is chiefly attributed to the rising electricity demand and the vast potential for renewable energy generation. As per the International Renewable Energy Agency (IRENA), the region accounts for more than 50% of the global energy consumption, and energy produced using fossil fuel resources continue to account for more than 85% of this. Despite this, a huge part of the population still lacks basic access to electricity. Power demands are expected to rise in this region majorly due to urbanization, industrialization, offshore renewable energy farms, offshore oil and gas fields, power infrastructure development, and remote area electrification, among other factors. These factors are, in turn boosting the growth of the high voltage cable market in the region. Moreover, Asia Pacific high voltage cable market is foreseen to soar at a prime growth rate during the forecast period.

Market Insights

Increasing demand for electricity due to industrialization and economic developments

With increasing industrialization and economic developments in developing regions such as APAC, Africa, and South America, the demand for electricity is growing at an impressive pace. China, India, Russia, and Brazil are the four largest electricity consumers among the non-OECD countries, and they represent more than 35% of global electricity consumption. Among these countries, China and India are two of the fastest developing countries, and electricity demand in these countries is mainly dominated by ongoing industrialization activities. Further, the investments in the developing regions would contribute a major share to the global electricity growth in the coming few years, and this will drive the global demand of high-voltage cables in these regions for reliable remote area and temporary power requirements. Thus, increasing industrialization and economic developments are contributing significantly to the growth of high voltage cable market in the present scenario.

Uncertainty in prices of conductor materials

The global cable industry is a prominent consumer of conductor materials such as copper and aluminum. As per International Cable makers Federation, 14.9 million tons of the total ~22 million tones refined copper produced in 2016 was used to manufacture insulated wires as well as cables. Aluminum is another conductive material that is used in wire and cable production, but it holds a smaller share than copper. Hence, the changes in aluminum prices have a lower impact on cable prices compared with copper prices. Moreover, the increasing tariffs on goods imported from China in the US, along with the counteractions from China, might affect the demand and supply equilibrium of various commodities. This could further contribute to the uncertainty in copper and aluminum prices and put pressure on companies using these materials. These factors affect have the potential to affect the growth of the global high-voltage cable market.

Type Insights

The global high voltage cable market by type is segmented into the overhead, underground, and submarine. Underground cables are the most widely adopted type as the cables find application in various verticals, such as power utilities, oil & gas, and mining. However, the submarine cables market is expected to grow at a significant rate during the forecast period. The most prominent type in high voltage cable market accounted for the underground segment, which is further expected to dominate in the forecast period.  

End-User Insights

End-users of high voltage cables market is segmented into Industrial, renewable energy, and infrastructure segment. Industrial is the largest revenue-generating end-user segment and is expected to maintain its dominant position throughout the forecast period. However, renewable energy is the fastest-growing market owing to intensive investment from major developing economies of Asia Pacific region.

Rest of APAC High Voltage Cable Market by End-User

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

High Voltage Cable Market: Strategic Insights

high-voltage-cables-and-accessories-market
Market Size Value inUS$ 28.8 Billion in 2018
Market Size Value byUS$ 47.8 Million by 2027
Growth rateCAGR of 6.1% from 2019-2027
Forecast Period2019-2027
Base Year2019
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Market Initiatives was observed as the most adopted strategy in global high voltage cable market. Few of the recent market initiatives are listed below;

2019:Nexans has qualified its 420 kV XLPE power cable design for use in water depths down to 550 meters create power connection across a Norwegian Fjord. This development offers new possibilities for creating higher voltage subsea links in deeper locations than ever before.
2018:Sumitomo Electric Industries, Ltd. has won a contract for high-voltage underground cables from Electricité du Cambodge (EDC), as part of the Phnom Penh City Transmission and Distribution System Expansion Project. For this project, Sumitomo Electric is anticipated to supply high-voltage underground cables (115kV CVT cables) connecting substations (total distance: 15 km; total cable length: 20 km).
2017:Essex Magnet Wire, a division of Superior Essex Inc., and Furukawa Electric Co., Ltd. formed a joint venture to supply a new type of winding high-voltage wire (HVW) primarily to the automotive industry throughout the European Economic Area.

GLOBAL HIGH VOLTAGE CABLE MARKET SEGMENTATION

Global High Voltage Cable Market - By Type

  • Overhead
  • Underground
  • Submarine

Global High Voltage Cable Market - By End-User

  • Industrial
    • Power Utilities
    • Oil & Gas
    • Mining
    • Chemical & petrochemicals
    • Others
  • Renewable Energy
    • Wind Power
    • Hydropower
    • Others
  • Infrastructure
    • Commercial
    • Industrial

Global High Voltage Cable Market - By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Sweden
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • LAMEA

    • Latin America
    •  Africa
    • Middle East

Global High Voltage Cable Market - Company Profiles

  • Dubai Cable Company - Ducab
  • Furukawa Electric Co., Ltd.
  • Nexans SA
  • NKT A/S
  • Prysmian Group (General Cable Corporation)
  • Siemens AG
  • Southwire Company, LLC
  • Sumitomo Electric Industries, Ltd.
  • TELE-FONIKA Kable SA (TF Kable)
  • ZTT Group
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type ; & End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. Dubai Cable Company - Ducab
  2. Furukawa Electric Co., Ltd.
  3. Nexans SA
  4. NKT A/S
  5. Prysmian Group (General Cable Corporation)
  6. Siemens AG
  7. Southwire Company, LLC
  8. Sumitomo Electric Industries, Ltd.
  9. TELE-FONIKA Kable SA (TF Kable)
  10. ZTT Group

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to High Voltage Cable Market