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 MarketStudyReport, global HVDC cables market size is expected to grow manifold during 2020-2027. 
 

Rising number of refurbishment & replacement activities of maturing transmission & distribution infrastructure, soaring demand for energy across the world, and increasing renewable energy integration are factors propelling the growth of global HVDC cables market.

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For those unaware, high-voltage direct current (HDVC) are power systems used for transmitting bulk DC power over long distances as they are less expensive. They interconnect the networks with different frequencies and hence, amount to lesser losses and higher efficiency in comparison to AC transmission. 

Moreover, consistent research & developmental activities for the HVDC transmission in order to ensure better control & stability, in consort with requirement of fewer insulators and conductors are further accelerating the industry development. 

Despite the optimistic outlook, the slow pace of technological evolution in developing countries, combined with high dependency on imports are likely to hinder the progress of worldwide HVDC cables market in the forthcoming years. 

Speaking from the regional standpoint, North America market is poised to witness robust growth during the assessment timeframe, owing to the stringent energy emission norms, coupled with the increasing demand for reliable & effective energy infrastructure in the region. 

The competitive landscape of worldwide HVDC cables industry is defined by companies such as ABB Group, Siemens AG, LS Cable & System, Hitachi Ltd., Taihan Electric Wire Co. Ltd., Mitsubishi Electric Corporation, Prysmian Group, General Electric Company, Alfanar, Toshiba Corporation, ZMS Cable, Inc., ILJIN Electric Co. Ltd., Gupta Power Infrastructure Ltd., ZTT International Limited, and Nexans S.A. among others.