Global HVDC Cable Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The HVDC market will proliferate with current research and development investments by key industry players for deploying energy-efficient and advanced transmission cables

• HVDC (High Voltage Direct Current) cables are specialized power cables designed for the transmission of electrical power over long distances using direct current (DC) rather than the alternating current (AC) typically used in power grids. HVDC cables are typically used in situations where it is more economical or practical to transmit electricity over long distances as DC rather than AC.
• The expansion of smart grid networks involves the integration of advanced technologies into the traditional power grid to increase its efficiency, reliability, and flexibility. Smart grid networks leverage communication and information technologies to enable a two-way flow of electricity and data between the power grid and its users, allowing for more efficient management of electricity supply and demand. Smart grid technologies can be integrated with HVDC cables to create an advanced power transmission system that provides greater control and flexibility. the integration of smart grid technologies with HVDC cables can provide a more efficient, reliable, and flexible power transmission system that can meet the energy needs of the future, this drives the demand for the market.
• Moreover, there has been increasing investment in research and development (R&D) in the field of HVDC transmission technology, driven by the need for more efficient and reliable long-distance transmission of electrical power. The growth of renewable energy sources such as wind and solar power has led to an increased demand for HVDC transmission technology to transport this energy over long distances. As a result, there is a need for ongoing R&D to develop new HVDC technologies that can support the integration of renewable energy into the power grid. The development of new semiconductor technologies such as silicon carbide and gallium nitride has the potential to improve the efficiency of HVDC transmission systems. Ongoing R&D in this area is expected to lead to the development of more efficient and cost-effective HVDC transmission technologies, creating an opportunity for the market.
• However, the complexity of the converting process, HVDC transmission systems offer several advantages over traditional AC transmission systems, including reduced transmission losses, improved voltage control, and the ability to connect different power grids. and the high initial cost of installation, HVDC transmission systems can provide significant benefits over the long term, such as reduced transmission losses, improved reliability, and the ability to connect different power grids. These factors negatively impacted the growth of the market.
• Market Segmentations
• The HVDC Cable Market is segmented based on Type, applications, and Geography.
• By Type, the market is segmented into Extruded Cables and Mass Impregnated Cables.
• Extruded cables segment is predicted to largest market share in upcoming years. Extruded cables are commonly used for low and medium-voltage applications up to 33 kV. These cables have a solid or stranded conductor that is insulated with a layer of extruded polymer material such as XLPE (cross-linked polyethylene). Extruded cables are known for their excellent electrical properties and mechanical strength, as well as their ability to withstand high temperatures, due to such advantages the demand is increasing.
• By applications, the market can be classified into Overhead, Submarine, and Underground.
• The submarine segment is predicted to grow with the largest CAGR in the forecasting period. Increasing capital expenditure and investments towards the commissioning of offshore wind farms coupled with rising sustainable power demand will impel the submarine Global HVDC Cables market. The expansion of island interconnections along with safe, reliable, and effective offshore transmission across the connecting countries will propel the technological acceptance. The rising public investments and funding to deploy high and ultra-high transmission lines coupled with government inclination toward the usage of renewable energy assets will further reinforce the industry demand.
• By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• During the forecast period, the Asia Pacific region is expected to grow with the highest CAGR in the forecasting period. Ongoing urbanization and increasing construction activities across developing regions have influenced the demand for high-voltage cables. Growing requirements for reliable and continuous power along with ongoing grid connections across remote locations will further spur the Asia Pacific Global HVDC Cables market. Developing economies which include China and India have been leading the regional growth credited to the increasing investments toward the upgradation and expansion of power capacities and infrastructure. Changing power consumption patterns across the residential and industrial sectors will thrust the industry share. Furthermore, growing concerns about green carbon emissions have significantly raised the demand for sustainable power networks. Additionally, Japan also increasing investments for low emission energy networks along with a rising number of subsea power cable projects. Growing inclination toward the island connection with high voltage cables along with the development of offshore wind power platforms to cater to renewable power supply will augment the business scenario.

Recent Development

• Dutch TSO announced its plans to provide cables for IJmuiden offshore wind project this would be the world's first 2 GW direct current offshore wind link. -April 2019

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global HVDC Cables Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global HVDC Cables Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global HVDC Cables Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market