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:
Exhibit: Rest of Europe High Voltage Cable Market Revenue and Forecasts to 2027 (US$ Mn)
EUROPE HIGH VOLTAGE CABLE MARKET SEGMENTATION
By Type
By End User
By Country
High Voltage Cable Market - Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 8.01 Billion |
| Market Size by 2027 | US$ 12.49 Billion |
| CAGR (2019 - 2027) | 5.4% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe High Voltage Cable Market is valued at US$ 8.01 Billion in 2018, it is projected to reach US$ 12.49 Billion by 2027.
As per our report Europe High Voltage Cable Market, the market size is valued at US$ 8.01 Billion in 2018, projecting it to reach US$ 12.49 Billion by 2027. This translates to a CAGR of approximately 5.4% during the forecast period.
The Europe High Voltage Cable Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe High Voltage Cable Market report:
The Europe High Voltage Cable Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe High Voltage Cable Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe High Voltage Cable Market value chain can benefit from the information contained in a comprehensive market report.
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