According to the research report titled ‘HVDC Cables Market Size By Voltage (High {35 kV to 475 kV}, Extra High {> 475 kV to 600 kV}, Ultra-High {> 600 kV}), By Installation (Overhead, Submarine, Underground), By Application (Intra-regional, Cross Border) Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2027’, available with Market Study Report, global HVDC cables market is likely to register substantial growth during 2020-2027.
 

Growing trend of refurbishing or replacing existing T&D infrastructure, increasing energy demand, and rising popularity of renewable sources of energy are some of the key factors driving the growth of global HVDC cables market.
 

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High voltage direct current (HVDC) power systems use direct current for transmitting power in bulk volumes. These cables are known to be less expensive as well as offer reduced energy loss as compared to AC transmission systems.
 

Technological advancements have allowed for development of HVDC power transmission systems that are not only quick in transmitting power but also quite efficient, which in turn is contributing towards global HVDC cables industry remuneration.
 

In addition, HVDC cables are inexpensive and require very small number of conductors or insulators. This allows HVDC towers to be quite affordable and easy to maintain, thereby stimulating the overall industry outlook.
 

Regionally speaking, North America HVDC cables industry is predicted to expand considerably during the study period, primarily due to growing inclination of modernizing existing T&D infrastructure.
 

The competitive landscape of global HVDC cables market is defined by companies such as Sumitomo Electric Industries Ltd., NKT A/S, ABB Ltd., LS Cable & System, Taihan Electric Wire Co. Ltd., Prysmian S.p.A., alfanar Group, ZMS Cable Group, Gupta Power Infrastructure Ltd., Nexans S.A., ZTT International, ILJIN ELECTRIC Co. Ltd., Toshiba Corporation, General Electric, Mitsubishi Electric Corporation, Hitachi Ltd., and Siemens AG among others.