Global HVDC Cables Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Growing awareness regarding benefits related to use of clean energy sources, supportive government policies and initiatives for HVDC transmission in developed as well as developing economies are some of the factors anticipated to boost growth of the market. Furthermore, rising focus on technological developments in the field of power sector is also projected to play an important role for growth of the global market. Additionally, expansion of industries, urbanization, need for electricity, and long distance transmission network are also expected to boost growth of the market. On the other hand, high cost of installing HVDC transmission systems and high cost of circuit breakers, which may affect demand and restrain growth of global market over the forecast period.
According to application, overhead HVDC transmission lines cost lesser than underground and submarine lines. Therefore, the overhead line segment accounted for leading share of the market in 2017. Market share of the segment is expected to increase during the forecast period because of the low cost and ease of building of overheard lines.
Global HVDC cables market is highly consolidated, it is dominated by a few players. Companies require high level of proficiency to enter the market. Furthermore, every HVDC transmission line needs to be highly customized to suit project requirements and specifications. Hence, it is also a highly worthwhile market. This has resulted in various mergers and acquisitions in recent years, as companies have tried to consolidate their position in the market.
Globally, HVDC cables market in the Asia Pacific accounts for leading market share in terms of revenue in the global market and anticipated to maintain its dominance over the forecast period. This dominance can be attributed to technological developments such as ultrahigh-voltage direct current (UHVDC) technology and voltage source converter (VSC) based technology for power transmission, are some of the major factors estimated to boost growth of HVDC transmission market in the region. As well, development of power infrastructure and government initiatives and investments concerning renewable energy sources and implementation of smart grid technology are some of the major factors projected to boost growth of the market in countries such as China, India, and Japan over the forecast period.
Report is designed by in depth investigation procedure to collect all the necessary data on global HVDC cables market. The estimation process is done on the basis of primary as well as secondary research. This research also contains databases, wide secondary sources and directories to recognize and collect information useful for theoretical, practical and market relevant study of HVDC cables market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global HVDC cables market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global HVDC cables market.
Scope of Global HVDC Cables Market
Global HVDC Cables Market, By Type
• Mass Impregnated Cables
• Extruded Cables
• Others (including Oil-filled Cables and Superconducting Cables)
Global HVDC Cables Market, By Application
• Overhead Line
Global HVDC Cables Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global HVDC Cables Market
• NKT A/S
• Nexans Group
• Prysmian Group
• LS Cable & System Ltd.
• General Electric
• Mitsubishi Electric
• NR Electric
• C-Epri Electric Power Engineering
• General Cable
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