The global high-voltage cable market size will increase by $19 billion in 2019-27

Reseach and Markets, an international market research institution, recently announced that the compound annual growth rate of the global high-voltage cable market from 2019 to 2027 will reach 6.
1%, and the market size will increase by $19 billion
during the forecast period.

According to the announcement, industrialization and economic development have led to a significant increase in electricity demand, and increasing investment in renewable energy is the main factor
promoting the stable development of the high-voltage cable market.
However, fluctuations in conductor raw material prices will still affect the development of
the high-voltage cable market during the forecast period.

On the other hand, the increasing focus on smart grid technology and the increasing supply demand in off-grid areas such as remote areas and offshore are also a major factor
driving the increase in the demand for high-voltage cables market.

Some of the leading players in the high-voltage cable market are focusing heavily on strategic market initiatives to enrich their product capabilities and expand their geographic presence
globally.
This, in turn, contributes
to the growth of the high-voltage cable market.

From the perspective of laying methods, high-voltage cables are mainly divided into underground high-voltage cables, overhead high-voltage cables and submarine high-voltage cables
.
Underground cables will account for a major share during the forecast period, owing to the increasing
demand for underground cables from various industries such as power companies, mining, paper industry, and cement.

From the perspective of application market, industry will account for the main market share, especially in developing countries represented by China and India, the industrialization process is promoting the demand
of this market.

Geographically, Asia-Pacific will become the major regional market for the high-voltage cable market, owing to the increasing
demand for power infrastructure in developing countries such as China and India.
The rapid industrialization process is promoting the growth
of demand for high-voltage cables in the industrial sector.
At the same time, in the Asia-Pacific region, Latin America and the Middle East, underground cables and overhead cables will have a higher application rate
because of their low cost and easy operation.

In Europe, underground cables and submarine cables are the two more popular laying methods, mainly because of the high population density and the huge potential
for offshore wind.
Stimulated by booming solar and wind power, the demand for high-voltage cables in the European and North American markets will further increase
.

From the perspective of manufacturers, Prysmian, Nexans, Minami Line Cable, Sumitomo Electric, Furukawa Electric, Nktor Cable, Fujikura Cable, etc.
will become the world's leading high-voltage cable manufacturers
.