The major trend identified in the global high voltage cables market is the growth in energy infrastructure, coherent integration of energy efficient systems, and projects for centralization and decentralization of grids. This is likely to offer traction to the market.
A high-voltage cable (HV cable) is used for electric power transmission at high voltage. The cable includes a conductor and insulation, and is suitable for being run overhead, underground or underwater. This cable has a wide array of applications including in ignition systems, instruments, and for direct current (DC) and alternating current (AC) power transmission. In the report, the high voltage cables market is segmented on the basis of installation, product type, voltage, and region.
By voltage, the high voltage cables market is classified into seven categories: 72.5 kV, 123 kV, 145 kV, 170 kV, 245 kV, 400 kV and above 400 kV. These cables are employed in oil and gas, power (offshore and onshore projects), and telecommunication industries.
The high voltage cables market is classified on the basis of installation into overhead, underground, and submarine. Overhead HV cables are long conducting wires for power transmission that are held tightly over high towers with the help of fittings and fixtures. In the underground and submarine HV cables, cable joints and terminations are the two major accessories needed to connect cable splices to another cable or a terminal equipment.
Based on region, the high voltage cables market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). Several developing countries have an old power transmission infrastructure that offers inefficient power supply and eases power theft. Countries across regions are in process to overhaul/upgrade grid infrastructure to provide continuous power supply, combat power thefts, and avoid power shortages. For instance, the U.S. and China are investing in infrastructure for renewable power generation. This in turn increases application of HV cables in integrating power generating sources (both, offshore and onshore projects) to centralized power grids, thereby demonstrating the demand for HV cables.
Upcoming renewable energy projects such as onshore and offshore solar farms and winds farms are likely to necessitate the demand for HV cables, and generate application avenues for HV cables. Additionally, these projects are likely to receive support and investment by private and governmental agencies for development and enhancement of the infrastructure to meet power transmission requirements.