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HVDC Cables Market Expansion: Meeting the Rising Demand for Efficient Power Tran

These developments reflect the dynamic nature of the HVDC cables market, with companies aiming to enhance their technological capabilities and market reach through strategic mergers and acquisitions.<br><br><br>These developments reflect the dynamic nature of the HVDC cables market, with companies aiming to enhance their technological capabilities and market reach through strategic mergers and acquisitions.<br><br><br>

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HVDC Cables Market Expansion: Meeting the Rising Demand for Efficient Power Tran

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  1. HVDC Cables Market and the Role of Smart Grid Technology Published by: Apurva, Marketing Head

  2. Market Size & Overview: In 2023, the global HVDC Cables Market was valued at approximately USD 10.70 billion and is projected to grow at a CAGR of 5.31% from 2024 to 2030. This growth is attributed to the superior efficiency of HVDC technology in transmitting electricity over long distances with minimal losses, making it a preferred choice for modern power infrastructure.

  3. Market Growth & Opportunities • Integration of Renewable Energy: The global shift towards renewable energy sources necessitates efficient transmission systems, where HVDC cables play a crucial role in connecting remote renewable energy plants to the main grid. • Urbanization and Industrialization: Rapid urban growth and industrial activities, especially in emerging economies, require robust power transmission solutions, bolstering the demand for HVDC cables. • Technological Advancements: Innovations in cable technology, such as the development of ultra-high voltage direct current (UHVDC) systems. Sample Request

  4. Market Segmentation by Application • Overhead Line • Submarine • Underground by Type • Mass Impregnated Cables • Extruded Cables • Others

  5. Regional Analysis: • North America: The region is witnessing increased investments in upgrading aging power infrastructure and integrating renewable energy sources, driving the demand for HVDC cables. • Europe: Countries like Germany are heavily investing in HVDC projects to enhance cross-border electricity trade and support large-scale renewable energy integration. • Asia-Pacific (APAC): Rapid industrialization and urbanization in countries such as China and India are leading to significant investments in HVDC technology to meet the escalating energy demands efficiently.

  6. Regional Analysis Customized Report Request

  7. Merges and Acquisition • Prysmian Group's Acquisition of General Cable Corporation: This merger expanded Prysmian's product portfolio and strengthened its position in the HVDC cables market. • Nexans' Acquisition of BE CableCon: By acquiring this Danish company specializing in cable kits for wind turbines, Nexans enhanced its offerings in the renewable energy sector, including HVDC solutions. • NKT's Acquisition of ABB’s HV Cable System Business: This strategic move allowed NKT to integrate ABB's high-voltage cable manufacturing and service capabilities, bolstering its market presence. Buy This Report

  8. Thank You Get In Touch with US: MAXIMIZE MARKET RESEARCH PVT. LTD. 3rd Floor, Navale IT park Phase 2, Pune Banglore Highway, Narhe Pune, Maharashtra 411041, India. +91 9607365656 sales@maximizemarketresearch.com

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