Market Size of High Voltage Direct Current (HVDC) Cables Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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High Voltage Direct Current Cables Market Analysis
The global high voltage direct current (HVDC) cable market is expected to register a CAGR% of more than 5% during the forecast period 2020-2025. However, for distances less than 50 km offshore and 800 km onshore, HVDC becomes costlier than high voltage alternating current (HVAC), and this can affect the onshore market.
- HVDC cables market is expected to be majorly driven by the submarine installation of cables in the forecast period. Increase in the installation of wind turbines in the offshore environment for generating more renewable energy to overcome the energy demand.
- The growing energy demand and the increase in renewable energy are expected to create significant opportunities. The United States has also planned to invest USD 70 billion in subsea wind energy installations in the upcoming years.
- Europe is the largest market for HVDC cables since it has a significant number of subsea wind energy installations.
