Global HVDC Cables Market - Growth, Trends, and Forecast (Outlook to 2028)

The rising adoption of HVDC transmission systems to transmit energy over long distances efficiently, growing trans grid interconnections majorly between European countries for energy trading due to the uneven power supply and grid integration of renewable energy, are significant drivers in the HVDC cable market.

HVDC permits the asynchronous interconnection of networks that operate at different frequencies or are otherwise incompatible, allowing them to exchange power without requiring the tight coordination of asynchronous networks, making it more convenient to use interconnections. HVDC systems have several more advantages over HVAC systems, especially in the transmission of power over long-distance as there are low power losses in HVDC systems.

The European Union’s (EU) commitment towards a sustainable low-carbon European economy by 2050 requires a well-functioning trans-European electricity market.  Hence, there are many projects upcoming and under construction for HVDC transmission between European countries. For instance, the SuedLink high-voltage direct current (HVDC) transmission line is developed in Germany. This project is expected to have the longest underground HVDC power cable in the world. Covering a total route length of 750km, the 525kV underground power line will be capable of transmitting up to 4GW of offshore wind power from north to south Germany while also facilitating the transmission of solar energy from south to north Germany.

This report provides a comprehensive overview of the global HVDC cable market. The study also comprehensively analyses the HVDC cable market by segmenting it based on application (Submarine and Land) and geography (North America, Europe, Asia-Pacific, South America, and the Middle East & Africa). It details out the significant factors influencing the market growth. This report discusses global opportunities and challenges, examines the drivers of structural change, and explores the business model options available to wealth managers wishing to seize the global potential and survive in the business long term.

The report also addresses present and future market opportunities, market trends, developments, HVDC and offshore wind project announcements, new product launches, region, and segments poised for the fastest growth, competitive landscape, and impact of Covid-19 on the HVDC cable market. Further, HVDC cable market size, demand forecast, and growth rates will also be provided in the report.