What is Global HV & EHV Underground Cables Market?
The Global HV & EHV Underground Cables Market refers to the industry focused on the production and distribution of high voltage (HV) and extra-high voltage (EHV) underground cables. These cables are essential for transmitting electricity over long distances with minimal power loss, making them crucial for modern infrastructure. Unlike overhead power lines, underground cables are buried beneath the surface, which helps in reducing the visual impact and minimizing the risk of damage from environmental factors like storms or falling trees. The demand for HV and EHV underground cables is driven by the need for reliable and efficient power transmission systems, especially in urban areas where space is limited and aesthetic considerations are important. Additionally, these cables are vital for connecting renewable energy sources, such as wind and solar farms, to the main power grid. As the world continues to shift towards cleaner energy solutions, the market for HV and EHV underground cables is expected to grow, driven by technological advancements and increased investments in power infrastructure. This market is characterized by a diverse range of products and applications, catering to various sectors including utilities, industrial, and commercial establishments.
HV, EHV in the Global HV & EHV Underground Cables Market:
High Voltage (HV) and Extra-High Voltage (EHV) cables are integral components of the Global HV & EHV Underground Cables Market. HV cables typically operate at voltages ranging from 60 kV to 150 kV, while EHV cables handle voltages above 150 kV. These cables are designed to transmit large amounts of electricity over long distances with minimal energy loss, making them essential for modern power distribution networks. The construction of HV and EHV cables involves multiple layers of insulation and protective materials to ensure safety and durability. The core of these cables is usually made of copper or aluminum, chosen for their excellent conductivity. Surrounding the core are layers of insulation, typically made from materials like cross-linked polyethylene (XLPE), which provide electrical insulation and mechanical protection. Additionally, these cables are often armored with steel or other materials to protect against physical damage and environmental factors. The demand for HV and EHV cables is driven by the need for efficient and reliable power transmission systems, especially in densely populated urban areas where overhead lines are impractical. These cables are also crucial for integrating renewable energy sources into the grid, as they can efficiently transmit power from remote wind or solar farms to urban centers. The market for HV and EHV underground cables is characterized by rapid technological advancements, with manufacturers continually developing new materials and designs to improve performance and reduce costs. As the global demand for electricity continues to rise, driven by population growth and industrialization, the need for robust and efficient power transmission infrastructure will only increase. This makes the HV and EHV underground cables market a critical component of the global energy landscape.
Direct Current, Alternative Current in the Global HV & EHV Underground Cables Market:
The usage of Global HV & EHV Underground Cables Market in Direct Current (DC) and Alternating Current (AC) systems is pivotal for modern power transmission. In DC systems, HV and EHV cables are used to transmit electricity over long distances with minimal power loss. This is particularly beneficial for connecting remote renewable energy sources, such as offshore wind farms, to the main power grid. DC transmission is preferred in these scenarios because it allows for more efficient power transfer over long distances compared to AC transmission. HVDC (High Voltage Direct Current) systems are also used for interconnecting different power grids, enabling the transfer of electricity between regions with different electrical frequencies. This is crucial for maintaining grid stability and ensuring a reliable power supply. On the other hand, in AC systems, HV and EHV cables are used for distributing electricity within urban areas and industrial complexes. AC transmission is the standard for most power distribution networks due to its ability to easily transform voltages using transformers. This makes it ideal for distributing electricity from power plants to end-users. HV and EHV AC cables are designed to handle high voltages and currents, ensuring efficient and reliable power delivery. The choice between DC and AC transmission depends on various factors, including the distance of transmission, the amount of power to be transmitted, and the specific requirements of the power grid. Both DC and AC systems play a crucial role in the global energy landscape, and the demand for HV and EHV underground cables in these applications is expected to grow as the world continues to transition towards cleaner and more efficient energy solutions.
Global HV & EHV Underground Cables Market Outlook:
The global market for HV and EHV Underground Cables was valued at approximately $10,030 million in 2024, with projections indicating a growth to around $14,120 million by 2031. This growth represents a compound annual growth rate (CAGR) of 5.1% over the forecast period. Within this market, the HV segment stands out as the largest, accounting for over 70% of the product share. This dominance is attributed to the widespread use of HV cables in various applications, including urban power distribution and industrial power systems. In terms of application, the direct current (DC) segment holds the largest share, comprising about 70% of the market. This significant share is driven by the increasing adoption of HVDC systems for long-distance power transmission and the integration of renewable energy sources into the grid. The market's growth is fueled by the rising demand for efficient and reliable power transmission solutions, particularly in regions with expanding urban populations and industrial activities. As the global energy landscape continues to evolve, the HV and EHV underground cables market is poised to play a crucial role in supporting the transition towards sustainable and resilient power infrastructure.
| Report Metric | Details |
| Report Name | HV & EHV Underground Cables Market |
| Accounted market size in year | US$ 10030 million |
| Forecasted market size in 2031 | US$ 14120 million |
| CAGR | 5.1% |
| Base Year | year |
| Forecasted years | 2025 - 2031 |
| by Type |
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| by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Prysmian Group, Nexans, Southwire, Hengtong Group, Furukawa Electric, Sumitomo Electric Industries, Qrunning Cable, LS Cable & System, Taihan Electric, Riyadh Cable, NKT Cables |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
