A recent report published by Infinium Global Research on HVDC cables market provides in-depth analysis of segments and sub-segments in the global as well as regional HVDC cables market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional HVDC cables market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global HVDC cables market. According to the report, the global HVDC cables market is projected to grow at a CAGR of 3.6% over the forecast period of 2019-2025.
High Voltage Direct Current (HVDC) has become the leading technology for long-distance transmission of bulk power in recent years. The rapid development and the increased assurance in the HVDC technology have caused the transition from ac to dc. The demands for huge renewable energy integration, passive network power supply, and global energy interconnection have all steadily increased new challenges for high voltage direct current (HVDC) power transmission systems. Additionally, global energy interconnection has become gradually popular. High voltage direct current (HVDC) transmission systems provide favorable access to circulated renewable energy and passive networks. Transmitting energy from renewable sources would require high voltage lines. HVDC is more suitable as compared to HVAC for this purpose.
The factors such as an expansion of industries, urbanization, need for electricity, and long-distance transmission network is major driving factors of the HVDC cables market. HVDC enables protected and steady interconnection of power networks that operate on different frequencies and provides instant and precise control of the power flow. Furthermore, the increasing demand for outsourced service providers, growing focus on renewable energy assets with an objective to achieve energy efficiency will further complement the business outlook are also driving the growth of the market. However, the required high cost of converting and inverting equipment’s for HVDC transmission and problems related to the acquisition of land restrains the market growth. Moreover, increasing focus on renewable energy assets to achieve energy efficiency is anticipated to provide wide opportunities in the future.
Geographically, Asia-Pacific dominates the global HVDC cables market. The factors such as technological advances as ultrahigh-voltage direct current (UHVDC) technology and voltage source converter (VSC) based technology for power transmission is driving the growth of the market in this region. Further, the development of power infrastructure and government initiatives and investments in renewable energy sources and application of smart grid technology is expected to boost the market growth in countries such as China, India, and Japan in the future.
The report on global HVDC cables market covers segments such as type and applications. On the basis of type, the sub-markets include mass impregnated cables, extruded cables, and other types. On the basis of applications, the sub-markets include overhead line, submarine, and underground.
The report provides profiles of the companies in the market such as NKT A/S, LS Cable & System Ltd., ABB, Siemens, Nexans Group, General Electric, Hitachi, Mitsubishi Electric, NR Electric, C-Epri Electric Power Engineering, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of HVDC cables market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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