Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 17.26 Billion | USD 27.54 Billion | 6.18% | 2022 |
FrequentlyAsked Questions
The high voltage cables market refers to the industry that produces and distributes cables designed to transmit large amounts of electrical power at high voltages. These cables are used to connect power plants, substations, and other energy infrastructure, and are essential for reliable and efficient electricity transmission.
As increasing demand for electricity, growth in renewable energy generation, and modernization of power grids globally, the demand for High Voltage Cables increases.
According to the report, the global High Voltage Cables market size was worth around USD 17.26 billion in 2022 and is predicted to grow to around USD 27.54 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.18% between 2023 and 2030.
According to the report, the global High Voltage Cables market is predicted to grow with a compound annual growth rate (CAGR) of roughly 6.18% between 2023 and 2030.
The global High Voltage Cables market growth is expected to be driven by Asia Pacific. China's power transmission and distribution grid is undergoing significant upgrades and modifications to enhance its ability to transmit higher levels of electricity and meet future demand.
The major players operating in the global High Voltage Cables market include ABB Ltd., Cable Corporation of India Limited, Finolex Cables Ltd, Nexans SA, NKT A.S., Prysmian SpA, Siemens AG, Southwire Company LLC, Tratos, Hitachi, LTD., and among others.
The report analyzes the global high voltage cables market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the High Voltage Cables market.
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