According to the recent research report titled ‘GLOBAL High Voltage Cable (Hvc) Market 2021-2028’, available with Market Study Report, global high voltage cable (HVC) market is expected to register a compound annual growth rate of 5.42% over 2021-2028.
 

Rising infrastructure development activities, and surging demand for power generation are the key drivers of global high voltage cable (HVC) market growth. Moreover, increasing investments in smart grid technology is significantly contributing to the industry progression.
 

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Despite the favorable prospects, unstable price chart of metals or conducting materials like aluminum and copper, which is crucial in inferring the total cost of these cables, is hindering the overall industry remuneration.
 

Based on installation type, the industry segmentation comprises submarine, underground, and overhead. As per end user scope, worldwide high voltage cable (HVC) market is split into renewable energy, infrastructure (residential, commercial), and industrial (oil & gas, mining, power utilities, chemical & petrochemical, others).
 

Considering the regional landscape, Middle East & Africa, North America, Asia Pacific, Latin America, and Europe are the leading contributors to the market development. Of these, Asia Pacific holds significant portion of global high voltage cable (HVC) industry share and is projected to lead the growth till 2028.
 

The growth can be ascribed to continuous efforts to meet increasing electricity demands due to rapid urbanization in economies such as Japan, India, and China. Of these, China tops the list of electricity producers boosting the adoption of high voltage cables for power transmission.
 

Besides, various top firms are entering the market, for instance, MM Logistics Co. Ltd. and General Cable Technologies Corporation signed an agreement to sell their business operations in the region, adding to the regional market outlook.
 

Major players swaying global high voltage cable (HVC) market dynamics are Southwire LLC, Sumitomo Electric Industries Ltd., Hitachi Ltd., Prysmian Group, Tele-Fonika Kable S.A., Siemens AG, Dubai Cable Company Pvt. Ltd., Nexans Group, TBEA Co. Ltd., Finolex Cables Ltd., ABB Ltd., NKT Cables, and Tratos Group.