The global HVDC cables market is anticipated to grow at a CAGR of 7.0% during the forecast period (2022-2028). Increasing demand for superconducting cables coupled with benefits such as lightweight, high-power transmission capacity, and low maintenance is supporting the demand for HVDC cables. Superconducting power cables have gained potential interest owing to their high effectiveness, compact size, and reduced environmental footprint. These advantages are becoming increasingly important as grid operators across the globe seek to upgrade and expand their networks to accommodate the transition to renewable energy. HVDC links provides operators with more ways, to boost stability and increase the grid’s power quality, efficiency, and security of supply. An HVDC superconducting cable system is designed to operate at high voltage with a range of possible currents exceeding 3 kA. Below this current level, conventional resistive cable technology is more able to meet grid requirements.
Browse the full report description of “HVDC Cables Market Size, Share & Trends Analysis Report, By Voltage (High {35 kV to 475 kV}, Extra High {> 475 kV to 600 kV}, and Ultra-High {> 600 kV}), By Installation (Overhead, Submarine, and Underground), By Application (Intra-Regional and Cross Border), Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/hvdc-cables-market
For instance, Prysmian S.p.A.’s ±525 kV HVDC underground cable is a cable system designed with large conductor cross-sections for high transmittable power over long distances, it uses less space by reducing the amount of cable to transmit the power. In addition, Siemens AG and Sumitomo Electric Industries, Ltd. commissioned the first VSC HVDC link to improve power quality in India, this joint venture of Siemens Energy and Sumitomo Electric has completed connecting India’s first high-voltage direct current (HVDC) link featuring voltage-sourced converter (VSC) and DC-XLPE cable technology.
In February 2021, the PM of India Mr. Narendra Modi officially inaugurated the link, which is a ±320 kilovolt (kV) HVDC system that connects Pugalur in Tamil Nadu to Thrissur in Kerala. Also, In April 2019, Dutch TSO announced its plans to provide cables for IJmuiden offshore wind project, this would be the world’s first 2 GW direct current offshore wind link. These factors significantly contribute to the growth of the global HVDC cables market.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Voltage
o By Installation
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Siemens AG, Hitachi, Ltd., Toshiba Corp., Mitsubishi Electric Corp., and General Electric Co.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global HVDC Cables Market Report by Segment
By Voltage
By Installation
By Application
Global HVDC Cables Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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