European HVDC Cables Market size is estimated to grow substantially from 2021 to 2027, according to a latest forecast report by Graphical Research.
The industry growth is owing to increasing demand for electricity along with integration of sustainable power-grid network. In addition, ongoing advancement of technology with an aim to prevent electrical and mechanical losses across a grid infrastructure together with rising demand for continuous power supply will augment the marked expansion. Moreover, natural disasters, harmonic fluctuations and power failures are the few important parameters which will stimulate the product demand.
Extra high voltage cables will observe a lucrative growth till 2027 owing to ongoing expansion of long route electricity supply networks together with increasing development of industrial and commercial establishments. Moreover, manufacturers focus to develop conductors with under-utilization of conductors, no drooping losses along with refurbishment of existing grid infrastructure will further complement the product deployment.
Overhead installation will grow significantly through 2027 owing to increasing demand for refurbishment and upgradation of conventional transmission grid infrastructure. In addition, the growing tendency towards the deployment of HVDC cables to fulfill inter-regional power demand will further enhance the market value. Furthermore, ongoing technological advancements along with increasing investment across R&D sector to deploy advanced units will fuel the product demand.
Browse detailed statistical insights from the report, “Europe HVDC Cables Market Size By Application (Intra-regional, Cross border), By Voltage (High, Extra High, Ultra High), By Installation (Overhead, Submarine, Underground), Research Report, Country Outlook (UK, Germany, Italy, Denmark), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
Ability of these cables to provide minimal short-circuit current, efficient asynchronous interconnection, lower losses and better controllability. growing need for safe & stable electricity supply along with decreased environmental harm will positively influence the industry landscape. In addition, operational safety will further fuel the industry outlook through the reduction of total transmission losses and productive power supply.
Germany HVDC cables market will witness remarkable growth during the forecast period led by expansion of micro-grid networks along with rising peak load electricity demand. For instance, in 2020, TenneT and TransnetBW have awarded NKT their highest order ever of over USD 1.2 billion. The contract includes the supply & installation of an onshore 525 kV high-voltage DC cable system with a cable length of approx. 750 km on the German corridor to SuedLink. Furthermore, increasing number of projects across the region along with rising investment toward development of transmission and distribution infrastructure will complement the industry outlook.
Leaders are focusing toward mergers & acquisitions and strategic partnerships among the prominent manufacturers to install advanced HVDC cables which will boost the industry scenario. Key players functioning across the market includes NKT, Mitsubishi, ZTT, Nexans, Alfanar Group, GE, Siemens, TFKable, Toshiba, Prysmian Group and Hitachi ABB Power Grid.
The European HVDC cables market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Europe Market, By Voltage
- 35 kV to 110 kV
- 110 kV to 275 kV
- 275 kV to 475 kV
- Extra high
Europe Market, By Installation
- Offshore wind power generation
- Inter country and Island Connector
- Offshore Oil & Gas
Europe Market, By Application
- Cross border
The above information is provided on a country basis for the following: