Europe High Voltage Cable Market Outlook (2019–2027)
The high voltage cable market in Europe is projected to grow from US$ 8.01 billion in 2018 to US$ 12.49 billion by 2027, registering a CAGR of 5.4% during the forecast period from 2019 to 2027.
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A key growth driver is the increasing demand for power transmission across long distances, particularly to electrify remote and offshore areas. This trend is especially significant in developing and underdeveloped regions, where the lack of nearby power infrastructure necessitates the deployment of high voltage cables to minimize power loss over long distances. Applications in coastal zones, mountainous regions, islands, and offshore renewable energy sites (e.g., wind and solar farms) are anticipated to fuel this demand.
During the forecast period, the underground high voltage cable (HVUC) segment is expected to remain the largest contributor to the market. However, the submarine high voltage cable segment is projected to experience the fastest growth, driven by its crucial role in offshore energy transmission. HVUCs are particularly advantageous due to their invisibility, resilience to weather-related damage, and lower voltage losses compared to overhead lines. Importantly, they also pose a lower risk of electrical accidents from accidental contact.
Germany is expected to lead the market due to its ongoing infrastructure development in remote and offshore areas and its expanding renewable energy capacity. Following Germany, Sweden holds a significant position in the European high voltage cable market. As the largest consumer of renewable energy in the EU, Sweden’s commitment to clean energy is driving substantial investments in high voltage cable systems. The country also benefits from the safety and efficiency advantages of underground high voltage cable networks.
Strategic Insights for the Europe High Voltage Cable Market
Strategic insights into the Europe high voltage cable market deliver a comprehensive, data-driven analysis of the industry landscape, encompassing emerging trends, leading players, and regional dynamics. These insights provide actionable guidance, helping stakeholders uncover untapped market segments and craft distinctive value propositions to gain a competitive edge.
By harnessing advanced data analytics, these insights enable investors, manufacturers, and other key players to anticipate market changes and respond proactively. With a forward-looking approach, stakeholders are better equipped to navigate the evolving landscape, capitalize on growth opportunities, and ensure long-term success in this rapidly developing region.
Market leaders and key company profiles
Dubai Cable Company – Ducab
Furukawa Electric Co., Ltd.
Nexans SA
NKT A/S
Prysmian Group (General Cable Corporation)
Siemens AG
Southwire Company, LLC
Sumitomo Electric Industries, Ltd.
TELE-FONIKA Kable SA (TF Kable)
ZTT Group
Europe High Voltage Cable Regional Insights
The geographic scope of the Europe High Voltage Cable refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Akshay
Senior Market Research Expert at Business Market Insights
