Status : Published | Published On : Sep, 2024 | Report Code : VREP3040 | Industry : Energy & Power | Available Format : | Page : 204 |
The global Extra High Voltage (EHV) Cables market reached USD 39.8 billion in 2023 and is poised to grow up to USD 53.7 billion by 2030 it is anticipated to register a CAGR of 5.3% during the forecast period ranging between 2025 and 2030.
EHV cables typically comprise a conductor and insulation. These cables are specially designed to transmit power at high voltages ranging between 230 kV to 1000 kV. EHV cables play a major role in transmitting power over a long distance. Their high-capacity electricity transmission property makes them suitable for enduring voltages over 220 kV during power transmission. These cables are high in demand where grid stability and higher energy efficacy are required as well as for integrating renewable energy.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 39.8 Billion |
Revenue Forecast in 2030 |
U.S.D. 53.7 Billion |
Growth Rate |
5.3% |
Segments Covered in the Report |
End Use, Installation Type, Product Type, Conductor Type and Voltage level |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
Asia-Pacific, North American, Europe, Middle East & Africa |
The market is poised for robust growth during the forecast periodprimarily due to rising investment in the power generation and transmission sector on a global scale as well as in the distribution infrastructure. In addition, significant developments in insulation technology, materials, and installation methods andgovernmentinitiatives to stabilize power gridsin developing regions adds fuel to market growth.
Despite its significant expansion, there are specific challenges that hinder widespread adoption of EHV cables such as its high installation costs. Moreover, the high cost of the cables, especially the underground and submarine EHV cables, compared to the overhead lines, limits its usage in several countries with price constraints. However, rapid industrialization and urbanization in developing economies present significant growth opportunitiesdue to the rising demand for electricity infrastructure and higher investments to meet such growing needs.
Global Extra High Voltage (EHV) Cable Industry Dynamics
Global Extra High Voltage (EHV) Cable Market Trends/ Growth Drivers:
Environmental concerns and shift towards underground and submarine installations
A few significant trends are noticed in the global Extra High Voltage (EHV) Cables market. One of the most significant trends is the growing shift towards underground and submarine installations. It is mainly attributed to the growing environmental concerns over the impact and carbon footprints as well as rapid urbanization and increase in the number of offshore renewable energy projects. Furthermore, technological developments in insulation and materials for performance improvements along with the growing demand for renewable energy integration like solar and wind to supply cleaner power in remote regions are also worthy trendstaking note of.
Global Extra High Voltage (EHV) Cables Market Growth Drivers
Increased demand for electricity around the globe
The growing demand for electricity all over the world is the most significant factor that drives the growth of the global Extra High Voltage (EHV) Cables market. It is mainly due to the ongoing and extensive urbanization and industrialization drives in developing countries that need higher and more reliable electrification to continue such drives. In addition, the growing initiatives of the governments to reduce energy losses and promote integration of renewable energy sources further propel the demand and market growth. Also, the need for a better and reliable power infrastructure for renewables and strategic collaborations and investments by key players to promote innovation, research & development, and market expansion also facilitates the future market growth.
Global Extra High Voltage (EHV) Cables Market Challenges
Stringent government regulations and environmental concern
The growth of the market is primarily hindered by the strict regulatory requirements, growing environmental concerns, and lengthy approvals causing delay in deployment. In addition, difficulties in cable maintenance, especially for underground and submarine installations, add to the cost and operational challenges, thereby impeding market growth.
Global Extra High Voltage (EHV) Cables Market Opportunities
Rising shift towards renewable energy
The major growth opportunity for the global Extra High Voltage (EHV) Cables market is presented particularly by the increased move towards renewable energy like offshore wind and solar power for long-distance power transmission. Furthermore, growing emphasis on modernizing aging infrastructure, smart grid development, and higher reliability and performance efficiency drives the demand for EHV cables and fosters its market growth.
Global Extra High Voltage (EHV) Cables Market Segmentation
VynZ Research provides an analysis of the key trends in each segment of the global Extra High Voltage (EHV) Cables market report, along with forecasts at the global, regional and country levels from 2025-2030. Our report has categorized the market based on end use, installation type, product type, conductor type and voltage level.
The utilities segment dominate the market
The global Extra High Voltage (EHV) Cables market is segmented by end use into utilities, heavy industries such as manufacturing, mining, and oil & gas, and renewable energy such as wind, solar, and hydroelectric power projects. Out of all these segments, the utilities segment is the largest segment in the EHV cables market. It is expected to dominate the market than the other two segments mainly due to the growing need for more efficient and reliable electricity transmission, and higher investment in existing infrastructure modernization, escalating grid capacity, and integrating renewable energy sources to meet growing demand for electricity.
Overhead Installation segment accounts for the largest share in the market
According to the application or installation type, the global Extra High Voltage (EHV) Cables market is divided into overhead, underground, and submarine segments. Out of these categories, the overhead installation segment is expected to surpass others in the market being used most commonly. These specific EHV cables are cost-effective for long-distance power transmission. However, underground variant is also gaining popularity despite the high cost due to its lower vulnerability to weather and wildlife, greater reliability, and reduced environmental impact. Submarine application is necessary only for intercontinental power transmission, and its demand is expected to grow when the demand for strong marine power connections grows for offshore renewable projects.
Cross-Linked Polyethylene (XLPE) cables segment accounts for the largest share in the market
Different product types also divide the global Extra High Voltage (EHV) Cables market into Cross-Linked Polyethylene (XLPE) cables, Mass Impregnated (MI) cables, and Gas Insulated cables sections. Out of these sections, the XLPE cables section is expected to dominate the EHV cables market during the projected period mainly due to their superior properties such as higher insulation, flexibility, and resistance to thermal deformation that makes them suitable for a widespread adoption and use. MI cables are losing their market hold despite their reliability and durability due to the advanced technologies of XLPE. And the gas-insulated cables are more expensive.
Copper segment accounted for the largest share in the market
The global Extra High Voltage (EHV) Cables market is also segregated by conductor type. The two main categories are copper and aluminum, where the former is more dominant than the latter and continue to be so in the forecast period. It is primarily attributed to its superior heat resistivity and conductivity, making it ideal for high-capacity applications, despite the higher cost. Though aluminum is cost-effective and is used extensively for long-distance power transmission, lower conductivity limits its efficiency, thereby resulting in its lower preference compared to copper EHV cables.
More than 500 kV segment accounted for the largest share in the market
Different voltage level of the cable also divides the global Extra High Voltage (EHV) Cables market into mainly 220 to 500 kV and more than 500 kV sections. Out of these two sections, the above 500 kV range is expected to dominate the market during the projected period due to growing demand for high-capacity power transmission solutions for large-scale renewable energy projects as well as the rise in cross-border electricity trade and to support the global high-demand for reliable infrastructure. It is also the consequence of the significant shift towards such higher range from the lower 220-500 kV range for industrial and utilities applications.
Global Extra High Voltage (EHV) Cables Market: Geographic Overview
The Asia-Pacific region of the global Extra High Voltage (EHV) Cables market leads and will continue to dominate during the forecast period due to rapid industrialization drives as well as higher investments in large infrastructure in developing countries like India and China.
The North American region of the market, on the other hand, will also grow at a steady CAGR during the same period due to higher focus on upgrading infrastructure and increase in the number of renewable energy projects, especially in the US.
The European market, however, is more mature and will also grow steadily due to consistent demand from renewable energy integration especially from offshore wind projects in the UK, Germany, and Denmark.
The Middle East & Africa region of the market will grow due to increasing investments in power infrastructure development and transmission to meet the rising need for electricity to support urbanization and economic growth.
Global Extra High Voltage (EHV) Cables Market Competitive Insight
The report provides a comprehensive analysis of the competitive landscape in the market. Some of the key players in the market include:
Recent Developments by Key Players:
Nexans (a leader in the global energy transition) acquired La Triveneta Cavi which is one of the European leader in medium- and low-voltage cables. The acquisition is a foremost leap forward in Nexans’ strategy that will make it an electrification pure player.
TRATOS CAVI S.p.a. (TRATOS) has acquired all shares of AFL Telecommunications Europe Ltd. that is a subsidiary of AFL Telecommunications LLC (AFL). The company shall purchase all fibre optic cable product lines for the oil and gas, power utility, rail, markets including the SkyWrap attached fibre optic solution for overhead power lines, subsea umbilical optic cable components and ruggedised trackside fibre optic cables.
Marinus Link Pty Ltd (MLPL) selected Hitachi Energy to supply a high-voltage direct current (HVDC) project, which will augment the connection between mainland Australia and Tasmania's grid. It is approximately 345-kilometer cable route HVDC system that shall enable the flow of renewable power in both directions between the Tasmanian and Victorian states.
Source: VynZ Research
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