The global HVDC cables market is anticipated to grow at a CAGR of 7.0% during the forecast period. Increasing demand for superconducting cables coupled with benefits such as lightweight, high-power transmission capacity, and low maintenance is supporting the demand for HVDC cables. Superconducting power cables have gained potential interest owing to their high effectiveness, compact size, and reduced environmental footprint. These advantages are becoming increasingly important as grid operators across the globe seek to upgrade and expand their networks to accommodate the transition to renewable energy. HVDC links provides operators with more ways, to boost stability and increase the grid’s power quality, efficiency, and security of supply. An HVDC superconducting cable system is designed to operate at high voltage with a range of possible currents exceeding 3 kA. Below this current level, conventional resistive cable technology is more able to meet grid requirements.
For instance, Prysmian S.p.A.’s ±525 kV HVDC underground cable is a cable system designed with large conductor cross-sections for high transmittable power over long distances, it uses less space by reducing the amount of cable to transmit the power. In addition, Siemens AG and Sumitomo Electric Industries, Ltd. commissioned the first VSC HVDC link to improve power quality in India, this joint venture of Siemens Energy and Sumitomo Electric has completed connecting India’s first high-voltage direct current (HVDC) link featuring voltage-sourced converter (VSC) and DC-XLPE cable technology.
In February 2021, the PM of India Mr. Narendra Modi officially inaugurated the link, which is a ±320 kilovolt (kV) HVDC system that connects Pugalur in Tamil Nadu to Thrissur in Kerala. Also, In April 2019, Dutch TSO announced its plans to provide cables for IJmuiden offshore wind project, this would be the world’s first 2 GW direct current offshore wind link. These factors significantly contribute to the growth of the global HVDC cables market.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Voltage
- By Installation
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Siemens AG, Hitachi, Ltd., Toshiba Corp., Mitsubishi Electric Corp., and General Electric Co.
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HVDC Cables Market Report by Segment
By Voltage
- High {35 kV to 475 kV}
- Extra High {> 475 kV to 600 kV}
- Ultra-High {> 600 kV}
By Installation
- Overhead
- Submarine
- Underground
By Application
- Intra-Regional
- Cross Border
HVDC Cables Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- ABB Ltd
- alfanar Group
- Gupta Power Infrastructure Ltd.
- ILJIN co., ltd.
- J-POWER/Electric Power Development Co.,Ltd.
- LS Cable & System Ltd.
- LS Corp.
- Nexans
- NKT A/S
- Prysmian S.p.A.
- Sumitomo Electric Industries, Ltd.
- Taihan Cable & Solution Co., Ltd.
- ZMS Cable Co., Ltd.
- ZTT
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