1 / 3

HVC Market: An Explainer on Widening Applications

The global high voltage cable market is expected to witness growth at a CAGR of 5.52% during the forecast period 2023-2030. Get more insights into our blog.

tritonmarketresearch
Télécharger la présentation

HVC Market: An Explainer on Widening Applications

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. HVC Market: An Explainer on Widening Applications Giventheinfrastructurespace,thebudgetaryallocation,industryCAPEX,andpolicyreformshavespearheadedinvestmentsinvariousprojectsinthepastfewyears.TheEuropeanCommissiondeclaredgrantsfor135transportprojectsundertheConnectingEuropeFacility.Suchprojectswillguaranteeanincreaseindemandforalltypesofhighvoltagecablestomeetenergydemandsamongthegrowingpopulation.AsperTriton’sanalysis,theglobal high voltage cable marketisexpectedtogarnerrevenueworth$59.80billionby2030,growingataCAGRof5.52%duringtheforecastperiod2023-2030. Equippedwithvariousconductorsandinsulators,HVCsaredesignedtotransmitelectricityoverlongdistanceswithoutpowerlosses.Thisbenefithaselevatedtheiradoptioninvarioussectors,includinginfrastructureandrenewableenergy. RisingApplications:BridgingtheGrowthGap WeknowthatHVCsareexpansivelyemployedforhighvoltageenergytransmission;however,theirapplicationisnotlimitedtoinfrastructure.Theverticalsectorinthestudiedmarketincludesrenewableenergy,infrastructure,andindustrial.Let’sdiveintoeachcategorytounderstandtheirroleinthemarket’sexpansion.

  2. RenewableEnergy:Whilethereareseveralrenewableenergysources,investmentsinsolarandwindenergyarebyfarattheirpeak.AspertheGlobalWindEnergyCouncil,windfarmsareestimatedtogeneratearound536GWofglobalpoweroverthenext5years.AsizablenumberofHVCswillberequiredtoconnectoffshoreprojectstothemaingridline.Inthisregard,submarinecableswillbeemployedforoffshoreprojects,whileoverheadcableswillfindapplicationinonshoreprojects.RenewableEnergy:Whilethereareseveralrenewableenergysources,investmentsinsolarandwindenergyarebyfarattheirpeak.AspertheGlobalWindEnergyCouncil,windfarmsareestimatedtogeneratearound536GWofglobalpoweroverthenext5years.AsizablenumberofHVCswillberequiredtoconnectoffshoreprojectstothemaingridline.Inthisregard,submarinecableswillbeemployedforoffshoreprojects,whileoverheadcableswillfindapplicationinonshoreprojects. RegionalFocus:SeveralEuropeangovernmentsaresupportingcleanenergyprojects,withGermanyleadingoverothernations.By2050,thenation’senergytransitionplanaimstogenerate80%ofelectricityviarenewablesources.Toachievethistarget,thenationissettoupgradeitshighvoltagepowertransmissionnetworks.Further,intheAsia-Pacific,Chinaleadsinrenewableenergyinstallations,attainingacapacityofapproximately1020GWin2021.Thesefactorsarethusexpectedtoofferlucrativeopportunitiesformarketdevelopment. Industrial:Triton’sanalysisofthegivenmarketbyindustrialverticalincludescategorieslikemining,oil&gas,power&utilities,chemical&petroleum,andothers.Estimatesindicatethepower&utilitysubsegmentholdsthelargestshareataCAGRof4.23%inthecategory.Undergroundandoverheadcableshavegainedprominenceinpowerutility,manufacturing,andmining,whilethesubmarineisusedintheoil&gasindustry.TherobustdemandforHVCsissupportedbytherisingfocusoninstallingpowergenerationplantstosupportgrowingoperations. RegionalFocus:IndustrializationandgovernmentinitiativesacrosstheUK,Germany,France,andSpainhaveelevatedtheadoptionofhighvoltagecables.Large-scaleHVCsareemployedforexcavationprojectsforpoweringon-sitemachines.Asperouranalysis,thenaturalgassectorisanticipatedtoexpandgreatly.InSouthEastEurope,theGasCorridorpipelineinfrastructurehasdeliveredthefirst10billioncubicmetersofgasasofMarch2022.TheBalticPipeProjectisanotherprojectthatconnectsgasreservoirsinIsraelandCyprustoGreece.ThesemegaprojectshavewidenedthescopeoftheEurope HVC market. Infrastructure:TheHVCmarketissupportedbyvariouscommercialandresidentialconstructionprojects.Thecommercialcategorycapturesamajorityofsharesintheinfrastructuresegment.SeveralnationsinAsia-Pacific,theMiddleEast,andLatinAmericahaveundertakenupgradationprojectsfromrailsignalingtonetworkinfrastructure.Overheadandundergroundcablesarewidelydeployedinbigcommercialspaceswiththecapacitytohavetheirsubstations.Additionally,therisingdemandtoupgradebroadbandservicesandtheadventofthe5Gnetworkhasinfluencednetworkproviderstoupgradeinfrastructure,ultimatelydrivingthehighvoltagecablemarket. RegionalFocus:Canadadeclareditsplantophaseoutcoal-firedelectricityby2030,withtheprovincesofAlberta,Saskatchewan,andBritishColumbia,settingambitiousenergytargets.Thegovernmentaimstoinvestaround$350billioninelectricityinfrastructureby2030,soaringdemandforvariouspowerequipment,includinghighvoltagecables.SuchdevelopmentsareprojectedtoopenavenuesforHVCmanufacturersinNorthAmerica.

  3. GrowthOutlook:CompetitiveAnalysis • Giventherisingapplicationsofhighvoltagecables,thereisintensecompetitionamongcontenders.Inrecentyears,urbanization,highpowerconsumption,andinvestmentinemergingnationshaveinfluencedplayerstoacquiremorecontractsorengageinproductlaunchestogainahighermarketshare. • NKTCable,inJanuary2022,acquiredVentcroftLtdtoadditsfire-resistantcabletechnologytotheproductlineandexpandintheEuropeanpowercablemarket. • InSeptember2022,NKTCableintroducedlow-carboncopperforthe320kVHVDCcablestolowercarbonfootprint,deliveredtoDoggerBankCintheNorthSea. • TratospartneredwithEnertechnosin2019todevelopaninnovativecabletotackletheUK'senergyloss. • Inretrospect,populationgrowthandindustrializationhaveelevatedthedemandandproductionofHVCsacrosssectors.However,therisingeffortstolimitglobaltemperaturebelow2°CundertheParisAgreementareexpectedtofuelthedeploymentofHVCsforcleanenergydevelopmentprojects,ultimatelydrivingthehighvoltagecablemarketonanadditionalgrowthtrajectory. FAQs: Q1)Whatarethedifferenttypesofhighvoltagecables? Submarine,underground,andoverheadaredifferentHVcabletypes. Q2)Whatfactorsarefuelinghighvoltagecableadoption? Thegrowinginfrastructureactivities,highpowerdemand,anddevelopmentinemergingnationsfueltheadoptionofhighvoltagecablesglobally.

More Related