Europe High Voltage Cable Market Key Companies and SWOT Analysis by 2027

The high voltage cable market in Europe is expected to grow from US$ 8.01 Bn in 2018 to US$ 12.49 Bn by the year 2027 with a CAGR of 5.4% from the year 2019 to 2027.

The need for transporting power over long distances for electrifying remote areas and offshore application areas is expected to drive the growth of high-voltage cable market, especially in developing and underdeveloped countries, during the forecast period. Deployment of high voltage cables in remote areas and offshore locations is forecasted to be the upcoming trend in the market. These areas are generally located far away from power infrastructure, which necessitates transportation of power to long distances with minimum power loss. The need for power infrastructure is growing rapidly in remote areas such as coastal areas, hilly areas, and islands. High-voltage cables also find applications in the transportation of power to and from offshore locations, such as wind and solar farms.

During the forecast period of 2019 to 2027, the underground high voltage cable is anticipated to be the largest contributor in the high voltage cable market. However, submarine high voltage cable segment is projected to be the fastest-growing type with the highest CAGR over the forecast period. High voltage underwater cables is, they are invisible and are being hidden below surfaces. Moreover, voltage losses are lower with underground cables than overhead lines. However, most transmission losses transpire within the lower voltage distribution networks. HVUCs are not at risk of storm damage apart from water damage and are far less likely to cause death or injuries due to accidental contact with the lines/cables.

Continuous infrastructural development across Germany, especially in remote and offshore areas, is expected to drive the deployment of high-voltage cables in the country. Moreover, the growing renewable power generation capacity in Germany is anticipated to boost the overall growth of high-voltage cable market during the forecast period. After Germany, Sweden dominated the Europe high voltage cable market. One of the most important and apparent advantages of HVUCs is they are invisible, being hidden below surfaces. Moreover, voltage losses are lower with underground cables than overhead lines. However, most transmission losses transpire within the lower voltage distribution networks. HVUCs are not at risk of storm damage apart from water damage and are far less likely to cause death or injuries due to accidental contact with the lines/cables. Sweden is the largest consumer of renewable energy in the Francean Union. The figure given below highlights the revenue share of the Mexico in the high voltage cable market in the forecast period:

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

EUROPE 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

• Germany
• Italy
• France
• Sweden
• Rest of Europe

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

Europe High Voltage Cable Report Scope