IMARC Group’s latest research report, titled “High Voltage Cable Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global high voltage cable market size reached a value of US$ 37.24 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 53.34 Billion by 2027, exhibiting a CAGR of 5.15% during 2022-2027. High voltage cables (HVCs) are the cables that are extensively used for transferring electric power at high voltages. Equipped with insulators, protective jackets, conductors, etc., they are designed to accurately transmit electricity without any power loss during long-range transmissions. HVCs can be of various voltage types, such as 50kV-110kV, 115kV-330kV, and more than 330kV. The presence of extra internal layers in the insulation jacket assists these cables in controlling the flow of electricity around the conductor. As a result, HVCs find widespread applications across several sectors, including mining, power, chemical, wastewater treatment, paper, manufacturing, oil and gas, etc.
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Important Attribute and highlights of the Report:
The escalating requirement for electronic appliances and devices and the rising need for uninterrupted power supply are primarily driving the high voltage cable market. In addition to this, the expanding construction industry and the emerging trend of smart grids are also augmenting the market growth. Moreover, the shifting preferences towards inexhaustible energy sources, such as wind and solar energy, owing to the enhanced focus on sustainable development, are leading to the construction of new utility grid setups with improved distribution and transmission networks across countries, which is further catalyzing the global market. Apart from this, the elevating number of rural electrification projects launched by government bodies across the globe is expected to bolster the high voltage cable market in the coming years.
Key Players Included in Global High Voltage Cable Market Research Report:
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Installation:
Breakup by Voltage Type:
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Breakup by Region:
TOC for the High Voltage Cable Market Research Report:
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