Global Growth Factors:

Factors such as increased investments in electricity grids and growth of offshore wind farms is driving the need for high voltage cables and accessories. It offer insulation and protection to prevent electrical leakage and reduce power losses. Accessories are essential components utilized to establish secure connections and maintain the seamless flow of power, ensuring the integrity of the system.

Global Market Size:

According to a new market research report, the high voltage cables and accessories market is projected to reach USD 52.5 billion by 2028 from an estimated USD 40.0 billion in 2023, at a CAGR of 5.6% during the forecast period.

Key Market Players

The high voltage cables and accessories market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network. Prysmian Group (Italy), Sumitomo Electric Industries Ltd. (Japan), Nexans (France), LS Cable & System Ltd. (Korea), and NKT A/S (Denmark) are the market leaders in the high voltage cables and accessories market. These companies use strategies such as expansions, acquisitions, sales contract, mergers, and product launches to increase their market share.

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This research report categorizes the high voltage cables and accessories market by component, power source, application, and region.

On the basis of by product type:

• Cables
  • XLPE Cables (Cross-linked Polyethylene)
  • EPR Cables (Ethylene-Propylene Rubber)
  • HEPR Cables (High Modulus Ethylene-Propylene)
  • MI Cables (Mass Impregnated)
• Accessories
  • Cable Joints
  • Cable Terminations
  • Fittings & Fixtures
  • Others

On the basis of voltage:

• 72.5 kV
• 123 kV
• 145 kV
• 170 kV
• 245 kV
• 400 kV and above

On the basis of installation:

• Overhead
• Underground
• Submarine

On the basis of conductor type:

• Copper
• Aluminum

On the basis of end user:

• Power Utilities  
• Renewables      
• Industrial
  • Oil & Gas
  • Chemicals & Petrochemicals
  • Metals & Mining
  • Others

On the basis of region:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

Objectives of the Study

• To define, describe, and forecast the high voltage cables and accessories market based on product type, voltage, conductor type, installation, end user, and region, in terms of value and volume.
• To describe and forecast the high voltage cables and accessories market for various segments with respect to five main regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa, in terms of value
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To provide a detailed overview of the high voltage cables and accessories value chain, along with industry trends, use cases, security standards, and Porter’s five forces analysis
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for various stakeholders by identifying high-growth segments in the high voltage cables and accessories market
• To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape of the market.
• To analyze growth strategies adopted by market players such as partnerships, mergers and acquisitions, agreements, and product launches in the high voltage cables and accessories market.

Prysmian Group is one of the leaders in cables and system solutions for various industries, including utilities & power grids, telecom, construction & infrastructure, transportation and mobility. The company operates through three business segments namely energy, telecom and project. It offers high voltage cables and accessories through its project and energy segment. It highly invests in research and development for innovation.

Sumitomo Electric Industries, Ltd. is one of the leading manufacturers of electric cables and wire products. The company operates its business through five business segments, namely, Environment & energy, info- communications, Automotive, electronics and industrial materials.

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Asia Pacific is expected to be the largest region in the high voltage cables and accessories market

Asia Pacific is expected to be the largest high voltage cables and accessories market during the forecast period. Industries in Asia Pacific is constantly evolving, with new developments and emerging trends emerging. Some key trends such as the growth in the energy consumption of the region, coupled with development of infrastructure and energy projects drive the market for high voltage cables and accessories with the rising need for effective power transmission and distribution.