Market Size of High Voltage Cable Accessories Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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High Voltage Cables and Accessories Market Analysis
The high-voltage cable and accessories market is estimated to be at USD 692.05 million by the end of this year and is projected to reach USD 922.08 million in the next five years, registering a CAGR of over 5.91% during the forecast period.
- Over the medium term, increasing integration of renewable energy generation and aging power grids and investments in transmission and distribution infrastructure are expected to drive the market's growth.
- On the other hand, the increasing raw material prices and investment in distributed renewable energy generation are expected to hamper the growth of the high-voltage cables and accessories market during the forecast period.
- Nevertheless, with the rising electrification projects in Africa, cables are being used for transmission and distribution networks from power generation, i.e., delivered from substations to the customer. The increasing rural electrification in African and Asian countries is likely to create lucrative growth opportunities for the high-voltage cables and accessories market in the forecast period.
- The Asia-Pacific region dominates the market and is likely to witness the highest CAGR during the forecast period. This growth is attributed to the increased urbanization growth rate and growing electricity demand, mainly from China and India.
