Asia Pacific High Voltage Cable Market Growth Opportunities and Forecast by 2027

The high voltage cable market in Asia Pacific is expected to grow from US$ 10.11 Bn in 2018 to US$ 18.33 Bn by the year 2027 with a CAGR of 7.2% from the year 2019 to 2027.

A smart grid refers to the integration of digital technology in the electricity delivery system to enhance its reliability, efficiency, and flexibility. In the coming years, the smart grid technologies are expected to become an integral part of electricity systems all over the world. Various government and private organizations are conducting R&D pertaining to these technologies to ensure maximum asset utilization through the integration of digital technologies and modernization of traditional electricity systems. In many developed and developing countries, electric grids are neither maintained nor upgraded regularly, which results in operational inefficiencies and loss of a large amount of power during transmission. The integrated electricity systems result in efficient distribution of electricity and save a substantial amount of cost through efficient asset utilization. Smart grid technologies are anticipated to play a crucial role in achieving integrated electricity systems.

China, Japan, India, South Korea, and Rest of APAC are the major contributors to the high-voltage cable market in APAC. The Rest of APAC includes countries such as Australia, Indonesia, Thailand, Singapore, and Malaysia. 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.

The high voltage cable market is segmented on the basis of end user into industrial, renewable energy, and infrastructure. During the forecast period of 2019 to 2027, the industrial high voltage cable is anticipated to be the largest contributor in the high voltage cable market. However, the Infrastructure end user segment is projected to be the fastest-growing type with the highest CAGR over the forecast period.

As per the Renewable Energy Policy Network of the 21st Century (REN21), in 2017, China announced that it will invest ~US$ 360 billion in renewable energy by 2020. Besides this, continuous infrastructure development and remote area electrification will support the high-voltage cable market growth in China. Hence, increasing industrialization, rising population, expanding renewable power generation, and offshore oil & gas rigs, among other factors, are expected to drive the demand for high-voltage cables in China during the forecast period. The above-mentioned factors are, therefore, contributing to the growth of the high voltage cable market in the country. Cables are used in various applications, such as power transmission, utilities, industries, nuclear power stations, thermal power stations, renewable energy plants, railways, and airports. The figure given below highlights the revenue share of the Mexico in the high voltage cable market in the forecast period:

Rest of APAC High Voltage Cable Market Revenue and Forecasts to 2027 (US$ Mn)

ASIA PACIFIC HIGH VOLTAGE CABLE MARKET SEGMENTATION

By Type

• Overhead
• Underground
• Underground

By End User

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

By Country

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

High Voltage Cable Market - Companies Mentioned

• 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

Asia Pacific High Voltage Cable Report Scope