High Voltage Cable Market Size, Share and Analysis 2027

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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 | No. of Pages: 186 | Category: Electronics and Semiconductor | Status: Published

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

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Strategic Insights

Report Coverage - High Voltage Cable Market
Report CoverageDetails
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
No. of Pages186
No. of Tables123
No. of Charts & Figures94
Historical data availableYes
Segments coveredType ; & End User
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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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 - 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

    • 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

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
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