|
Forecast Period
|
2024-2028
|
|
Market Size (2022)
|
USD 30.08 Billion
|
|
CAGR (2023-2028)
|
7.70%
|
|
Fastest Growing Segment
|
Medium
Voltage
|
|
Largest Market
|
Asia
Pacific
|
Market Overview
Global Underground DC Electric Cable
Market was valued at USD 30.08 billion in 2022 and is anticipated to project
robust growth in the forecast period with a CAGR of 7.70% through 2028. The
underground DC Electric Cable market refers to the global industry dedicated to
the production, distribution, and deployment of direct current (DC) electrical
cables that are designed for underground installations. These cables serve as
essential components of modern electrical infrastructure, facilitating the
efficient transmission of electricity beneath the Earth's surface. The market encompasses a wide range of
applications, including power transmission, grid modernization, renewable
energy integration, and electrification of transportation systems. Underground
DC electric cables are known for their advantages, which include aesthetic
appeal, reduced vulnerability to weather-related disruptions, and the ability
to efficiently transmit electricity over long distances with minimal energy
loss. Key stakeholders in the
underground DC Electric Cable market include cable manufacturers, utility
companies, governments, and various industries requiring reliable electrical
infrastructure. The market is influenced by factors such as government policies
supporting renewable energy, grid modernization initiatives, environmental
regulations, and the electrification of transportation. As the global energy
landscape evolves towards greater sustainability and efficiency, the
underground DC Electric Cable market plays a crucial role in enabling the
seamless integration of renewable energy sources, supporting the
electrification of transportation systems, and contributing to the overall
reliability and resilience of electrical grids. This market's growth is driven
by the need for efficient, eco-friendly, and visually unobtrusive electrical
transmission solutions in both urban and rural environments.
Key Market Drivers
Urbanization
and Infrastructure Development
The
rapid pace of urbanization and the continuous development of infrastructure are
fundamental drivers propelling the global underground DC Electric Cable market.
As more people migrate to urban areas in search of employment and improved
living standards, there is an ever-increasing demand for reliable and efficient
power distribution systems. Underground DC electric cables are particularly
well-suited for densely populated urban environments as they offer several
advantages over traditional overhead lines.
One
of the primary benefits is aesthetics. Underground cables eliminate the visual
clutter associated with overhead power lines, enhancing the urban landscape and
contributing to the overall aesthetics of a city. This aesthetic improvement
can lead to increased property values and improved quality of life for
residents.
Additionally,
underground DC electric cables are less susceptible to weather-related
disruptions, reducing the risk of power outages during storms and extreme
weather conditions. This increased reliability is crucial for maintaining
essential services and supporting the continued growth of urban areas.
Furthermore,
as urbanization drives the need for infrastructure expansion and modernization,
governments and utilities are increasingly turning to underground cable systems
to meet the growing demand for electricity. This trend is evident in the
deployment of underground DC cables for projects such as urban electrification,
transportation systems, and smart city initiatives.
Renewable
Energy Integration
The
integration of renewable energy sources into the global energy mix is a major
driving force behind the growth of the underground DC Electric Cable market. As
nations worldwide aim to reduce carbon emissions and transition to cleaner
energy sources, there is a significant emphasis on harnessing renewable
resources such as wind, solar, and hydropower.
Renewable
energy projects are often located in remote areas with abundant natural
resources, which can be far from urban centers and industrial hubs. Underground
DC electric cables play a crucial role in efficiently transmitting electricity
generated at these remote locations to areas of high demand. Their ability to
minimize energy losses during transmission makes them an ideal choice for
connecting renewable energy installations to the grid.
Furthermore,
renewable energy mandates and incentives provided by governments have led to
increased investments in renewable energy projects. These policies encourage
the development of renewable energy infrastructure, leading to a surge in the
demand for underground DC electric cables.
As
nations strive to meet their renewable energy targets and reduce their reliance
on fossil fuels, the underground DC Electric Cable market is poised for
continued growth as a key enabler of renewable energy integration.
Energy
Efficiency and Grid Modernization
Energy
efficiency and grid modernization efforts are driving the demand for
underground DC Electric Cables. Governments and utilities worldwide recognize
the need to upgrade and modernize their electrical grids to enhance energy
efficiency, improve grid reliability, and accommodate the integration of
distributed energy resources.
Underground
DC electric cables are known for their efficiency and low energy loss
characteristics, making them a preferred choice for modern grid systems.
Compared to traditional overhead transmission lines, underground DC cables
offer superior energy efficiency, particularly over long distances. This
reduction in energy losses translates to cost savings and reduced environmental
impact.
Grid
modernization initiatives often involve replacing or augmenting existing
overhead AC infrastructure with underground DC electric cables. These cables
can handle higher power loads and provide more reliable transmission, making
them essential components of modern grid systems.
Additionally,
the integration of distributed energy resources, such as rooftop solar panels
and energy storage systems, requires advanced grid infrastructure that can
efficiently manage bidirectional power flows. Underground DC cables play a
crucial role in facilitating the seamless integration of these distributed
resources into the grid, supporting energy efficiency and sustainability
objectives.
Environmental
Concerns and Aesthetic Considerations
Environmental
concerns and aesthetic considerations are significant drivers contributing to
the adoption of underground DC Electric Cables. Overhead power lines, while
effective for power distribution, can have adverse visual and environmental
impacts on landscapes and ecosystems.
Underground
DC electric cables address these concerns by minimizing their visual footprint.
Unlike overhead lines, which can dominate the skyline and disrupt natural
views, underground cables are concealed beneath the earth's surface, preserving
scenic beauty and reducing visual clutter in both urban and rural settings.
Moreover,
underground cables are less susceptible to weather-related disruptions, such as
severe storms, ice accumulation, and falling debris. This increased reliability
helps avoid power outages and minimizes potential damage to the environment
caused by overhead lines that can be felled by extreme weather events.
Environmental
organizations and communities often advocate for the use of underground cables
in sensitive areas, such as national parks, conservation areas, and scenic
landscapes, to protect natural habitats and maintain the ecological integrity
of these regions.
As
environmental concerns continue to grow, and communities prioritize aesthetic
and environmental preservation, the demand for underground DC Electric Cables
is expected to rise, making them a vital driver in the market.
Electrification
of Transportation
The
electrification of transportation, including electric vehicles (EVs) and
electric mass transit systems, is a significant driver of the global
underground DC Electric Cable market. The shift toward cleaner and more
sustainable modes of transportation has accelerated the deployment of electric
charging infrastructure, which relies on underground DC electric cables for
efficient power distribution.
Electric
vehicle charging stations are becoming increasingly common in urban areas,
residential neighborhoods, and along highways. These charging stations require
a reliable and efficient power supply, making underground DC cables an
essential component of the infrastructure. The cables deliver electricity to
the charging stations, ensuring that EVs can recharge quickly and conveniently.
In
addition to individual EV charging, electric mass transit systems, such as
subways, light rail, and electric buses, also rely on underground DC electric
cables for their power supply. These systems provide an environmentally
friendly and efficient means of transportation in urban areas, reducing
emissions and congestion.
As
governments and communities worldwide prioritize the electrification of
transportation to combat climate change and improve air quality, the demand for
underground DC electric cables to support electric charging infrastructure and
electric mass transit systems continues to grow, driving market expansion.
Technological
Advancements
Technological
advancements in cable design, materials, and manufacturing processes are
driving innovation and growth in the global underground DC Electric Cable
market. These advancements result in cables that can handle higher power loads,
operate at elevated temperatures, and provide enhanced resistance to
environmental factors.
In
particular, advancements in cable insulation materials, such as cross-linked
polyethylene (XLPE) and high-pressure, high-temperature (HPHT) materials,
contribute to improved cable performance and longevity. These materials enhance
the cable's ability to withstand the rigors of underground installation and
protect it from external factors like moisture and contaminants.
Furthermore,
ongoing research and development efforts are focused on reducing the
environmental impact of underground cables by developing eco-friendly materials
and sustainable manufacturing processes. These efforts align with global
sustainability goals and eco-conscious consumer preferences.
As
technology continues to advance, underground DC Electric Cables are expected to
benefit from increased efficiency, durability, and environmental compatibility.
These factors position underground cables as integral components of modern
electrical infrastructure, supporting a wide range of applications in various
industries and regions.
In
conclusion, the global underground DC Electric Cable market is driven by a
combination of factors, including urbanization, renewable energy integration,
energy efficiency initiatives, environmental and aesthetic considerations, the
electrification of transportation, and ongoing technological advancements.
These drivers collectively contribute to the growth and evolution of the
market, making underground DC Electric Cables a vital element of modern
electrical infrastructure.
Government Policies are Likely to
Propel the Market
Renewable
Energy Support and Grid Integration
Government
policies supporting renewable energy generation and grid integration play a
pivotal role in shaping the global underground DC Electric Cable market. As
nations strive to transition to cleaner energy sources and reduce carbon
emissions, they often enact policies to promote the development of renewable
energy projects.
One
key policy is the establishment of renewable energy targets and incentives.
Governments may set ambitious goals for increasing the share of renewable
energy in their energy mix, along with financial incentives such as tax
credits, feed-in tariffs, and subsidies to encourage renewable energy project
development. These policies drive demand for underground DC electric cables by
facilitating the transmission of electricity from renewable energy
installations, such as solar and wind farms, to urban centers and industrial
hubs.
Grid
integration policies are equally crucial. Governments recognize the need for
efficient and reliable transmission infrastructure to accommodate the
intermittent nature of renewable energy sources. They may implement regulations
and funding mechanisms to support the expansion and modernization of the
electrical grid, often involving the deployment of underground DC electric
cables. These cables facilitate the seamless integration of renewable energy
into the grid, ensuring a stable and sustainable energy supply.
Energy
Efficiency and Environmental Regulations
Government
policies aimed at improving energy efficiency and environmental protection have
a significant impact on the underground DC Electric Cable market. As concerns
about climate change and environmental sustainability intensify, governments
enact regulations and standards to reduce greenhouse gas emissions and minimize
the environmental impact of electrical infrastructure.
One
essential policy category includes energy efficiency standards for cables and
equipment. Governments may mandate the use of energy-efficient materials and
technologies in underground DC electric cables to reduce energy losses during
transmission. These standards incentivize cable manufacturers to develop and
produce more efficient cables that align with environmental goals.
Environmental
regulations also influence cable design and materials. Policies may require the
use of eco-friendly materials with reduced environmental impact, such as
low-emission insulation materials and recyclable components. Compliance with
these regulations shapes the product offerings of cable manufacturers and
ensures that underground DC electric cables are produced with sustainability in
mind.
Additionally,
governments may introduce policies to minimize the visual and ecological impact
of underground cable installations, particularly in environmentally sensitive
areas. These policies encourage responsible installation practices and the use
of innovative cable designs that blend harmoniously with the landscape.
Infrastructure
Investment and Grid Modernization
Government
policies related to infrastructure investment and grid modernization have a
direct impact on the underground DC Electric Cable market. Governments
worldwide recognize the importance of maintaining and upgrading electrical
infrastructure to ensure reliability, resilience, and efficiency.
Infrastructure
investment policies allocate funding for grid expansion, modernization, and
maintenance projects. These investments often involve the deployment of
underground DC electric cables to replace aging overhead lines or to expand
electrical networks to meet the growing demand for power. Government-backed
funding initiatives create opportunities for cable manufacturers and promote
market growth.
Grid
modernization policies aim to enhance the efficiency and resilience of
electrical grids. Governments may establish regulatory frameworks and provide
incentives for utilities to invest in advanced grid technologies, including the
deployment of underground DC electric cables. These cables are integral to
modernizing the grid, as they offer lower energy losses, increased reliability,
and reduced vulnerability to weather-related disruptions.
Government
policies also support the integration of distributed energy resources (DERs)
into the grid, such as rooftop solar panels and energy storage systems.
Underground DC electric cables enable the bidirectional flow of electricity
required for efficient DER integration, making them a critical component of
grid modernization initiatives.
Electrification
of Transportation
Government
policies promoting the electrification of transportation systems, including
electric vehicles (EVs) and electric mass transit, drive the demand for
underground DC Electric Cables. As nations strive to reduce emissions from the
transportation sector and transition to cleaner modes of mobility, they
implement a range of policies to support EV adoption.
One
key policy area is the establishment of EV incentives and infrastructure
development programs. Governments may offer financial incentives, such as tax
credits and rebates, to encourage consumers to purchase electric vehicles.
Simultaneously, they invest in the deployment of EV charging infrastructure,
which relies on underground DC electric cables for efficient power
distribution.
In
addition to individual EV charging, electric mass transit systems, such as
subways and electric buses, depend on underground DC electric cables for their
power supply. Government policies often prioritize the expansion and
electrification of public transportation networks to reduce congestion and
emissions. This emphasis on electrified transportation systems fuels the demand
for underground cables.
Government
support for electric transportation aligns with environmental and
sustainability goals and contributes to the growth of the underground DC
Electric Cable market. Policymakers recognize the importance of efficient and
reliable cable infrastructure to support the widespread adoption of electric
transportation.
Technological
Innovation and Research Funding
Government
policies that promote technological innovation and research funding have a
profound impact on the underground DC Electric Cable market. Governments often
allocate resources to support research and development (R&D) initiatives in
the cable industry, driving innovation in cable design, materials, and
manufacturing processes.
Funding
for R&D projects encourages cable manufacturers to explore new technologies
that enhance the performance and capabilities of underground DC electric
cables. Research efforts focus on improving cable efficiency, increasing
power-carrying capacity, enhancing durability, and minimizing environmental
impact.
Government
policies may include grant programs, tax incentives, and public-private
partnerships to stimulate technological advancements in the cable sector. These
initiatives foster collaboration between academia, industry, and research
institutions, accelerating the pace of innovation and product development.
Moreover,
governments recognize the importance of supporting the development of advanced
materials, such as high-temperature superconductors and eco-friendly insulation
materials, which can lead to breakthroughs in cable technology. Funding for
material science research contributes to the creation of more efficient and
sustainable underground DC electric cables.
The
encouragement of technological innovation through government policies ensures
that the underground DC Electric Cable market remains dynamic and adaptable to
evolving industry needs and sustainability objectives.
Trade
and Export Regulations
Government
policies related to trade and export regulations can significantly influence
the global underground DC Electric Cable market. These policies affect the
international trade of cables, materials, and equipment, impacting the
competitiveness of cable manufacturers in the global market.
Trade
policies encompass a range of measures, including import/export tariffs, trade
agreements, and trade restrictions. Changes in trade policies can impact the
cost and availability of materials and components used in cable manufacturing.
For example, tariffs on certain materials or components can increase production
costs for cable manufacturers, potentially affecting pricing and market
competitiveness.
Furthermore,
government incentives for local production and sourcing can influence the
global supply chain for underground DC electric cables. Policies that encourage
domestic cable manufacturing may lead to regional variations in production
capacity and pricing.
Cable
manufacturers must stay informed about trade and export regulations in various
regions to make informed business decisions, adapt to changing market dynamics,
and ensure compliance with trade policies. Government policies related to trade
and export can introduce both challenges and opportunities for cable
manufacturers operating in the global marketplace.
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Key Market Challenges
Installation and Maintenance Costs
One of the primary challenges
confronting the global underground DC Electric Cable market is the high
installation and maintenance costs associated with underground cable systems.
While underground DC cables offer several advantages, including aesthetic
appeal and reduced vulnerability to weather-related disruptions, the initial
capital investment required for installation is considerably higher than that
for overhead lines.
Installation Costs:
The process of burying underground DC
electric cables involves various complex and labor-intensive steps. Excavation,
trenching, and conduit installation are necessary to create a suitable pathway
for the cables. These activities often require heavy machinery and skilled
labor, adding to the overall installation expenses. The need for specialized
equipment and personnel drives up project costs substantially.
Moreover, underground installations must
adhere to strict safety and environmental regulations, contributing to project
complexity and costs. Environmental impact assessments, permits, and mitigation
measures are often required to minimize the ecological consequences of
excavation and trenching.
In densely populated urban areas, where
underground cables are frequently deployed to minimize visual clutter,
installation becomes even more challenging. The presence of existing
infrastructure, such as water and gas lines, along with limited space for construction
activities, can further increase installation complexities and expenses.
Maintenance Costs:
While underground DC electric cables are
known for their reliability and durability, they are not immune to wear and
tear over time. Underground environments can be harsh, with factors like
moisture, temperature fluctuations, and soil composition affecting cable
performance. As a result, routine inspections and maintenance are essential to
ensure the long-term reliability of underground cable systems.
Maintenance activities may involve cable
testing, insulation checks, and repairs, which often require specialized
equipment and trained technicians. Accessing and servicing underground cables
can be more challenging and time-consuming compared to overhead lines, adding
to maintenance costs.
Furthermore, unforeseen events such as
cable faults or disruptions due to excavation activities can necessitate costly
repairs and service interruptions. Identifying the location of cable faults in
underground systems can be time-consuming and costly, as it may require
excavation and restoration efforts.
To address these challenges, cable
manufacturers and utilities are continuously working to develop more robust and
reliable underground DC electric cables that require less frequent maintenance.
Additionally, advancements in cable monitoring and fault detection technologies
are helping reduce maintenance costs by enabling early detection of issues.
Limited Flexibility and Scalability
Another significant challenge in the
global underground DC Electric Cable market is the limited flexibility and
scalability of underground cable systems, particularly in densely urbanized
areas and regions with rapidly changing infrastructure needs.
Flexibility:
Underground DC electric cable systems
are relatively less flexible compared to overhead lines. Once installed, these
systems are less adaptable to changes in power demand, urban development, or
the integration of new technologies. Expanding or modifying underground cable
systems often requires significant efforts and costs.
In urban areas experiencing rapid growth
and development, the demand for electricity can change rapidly. Installing
additional underground cables to meet increased power requirements can be
time-consuming and disruptive. Underground infrastructure may need to be
relocated or expanded to accommodate new developments, leading to challenges in
maintaining an uninterrupted power supply.
Scalability:
Scalability can be a challenge when it
comes to underground DC electric cable systems. Expanding an existing
underground network to support additional power generation sources, such as
renewable energy installations or electric vehicle charging infrastructure, can
be logistically complex and costly.
Additionally, the limited capacity of
existing underground cables can become a bottleneck when striving to integrate
higher power loads or transmit electricity over longer distances. Upgrading
underground cable systems to handle greater power capacity may require
extensive construction efforts, potentially involving the replacement of cables
and conduits.
Balancing the need for scalability with
the inherent constraints of underground cable systems can pose challenges for
utilities and policymakers. The process of planning, permitting, and
implementing expansions or upgrades can be time-consuming and resource-intensive,
impacting the ability to respond quickly to changing energy demands and
sustainability objectives.
To address these challenges,
stakeholders in the underground DC Electric Cable market are exploring
innovative solutions, such as advanced cable designs, smart grid technologies,
and flexible cable management systems, to enhance the adaptability and scalability
of underground cable infrastructure. These efforts aim to ensure that
underground systems can efficiently accommodate evolving energy needs and
infrastructure requirements while minimizing disruption and cost.
Segmental Insights
Cable Construction Insights
The Single-Core Cables segment held the
largest market share in 2022 & expected to maintain it in the forecast
period. Single-core cables are highly efficient in transmitting electrical
power, especially at high voltages. They have a single conductor, which reduces
electrical losses during transmission. This efficiency is crucial for
long-distance underground DC electric cable installations, where minimizing
energy losses is a top priority. As a result, single-core cables are often
preferred for projects that involve power transmission over extended distances.
Single-core cables have a straightforward design with a single conductor
enclosed by insulation and a protective outer sheath. This simplicity
contributes to their reliability. They are less prone to electrical faults and
failures compared to more complex cable constructions, making them a dependable
choice for critical applications in underground power distribution and
transmission. Single-core cables are versatile and adaptable to a wide range of
applications. They can be customized to meet specific project requirements,
including varying voltage levels and environmental conditions. Their
flexibility allows for ease of installation, even in challenging underground
environments, contributing to their widespread use in diverse projects. Single-core
cables are often more cost-effective to manufacture and install than some other
cable constructions, such as self-contained fluid-filled (SCFF) or
mass-impregnated (MI) cables, which involve more complex manufacturing
processes and specialized materials. This cost-effectiveness makes single-core
cables an attractive choice for both utilities and project developers. Single-core
cables have a long history of successful use in underground electrical
infrastructure projects worldwide. Their proven track record and
well-established manufacturing processes have led to widespread industry
adoption. This familiarity with single-core cable technology makes it the
default choice for many projects, further solidifying its dominance in the
market. Single-core cables are often standardized and widely available,
ensuring compatibility with existing infrastructure and equipment. This
standardization simplifies the procurement process for utilities and project
developers, as they can readily find suitable single-core cable products that
meet industry specifications and requirements. In regions with strict
environmental regulations or sensitive ecosystems, the installation of
single-core cables is favored due to their minimal visual and ecological
impact. Unlike multi-core cables or overhead lines, single-core cables
contribute to aesthetic preservation and reduced disruption of natural
landscapes, aligning with environmental conservation efforts. Single-core cables can be easily scaled to
meet increasing power demands by adding more cables or upgrading to higher
voltage ratings. This scalability is valuable for projects that anticipate
future growth in electricity consumption or the integration of additional
renewable energy sources.
Voltage Rating Insights
The High Voltage segment held the
largest market share in 2022 and is projected to experience rapid growth during
the forecast period. High voltage cables are engineered to efficiently transmit
electrical power over extended distances. The higher the voltage, the lower the
energy losses during transmission. In underground power distribution networks
that require electricity to be transported over considerable distances, HV cables
excel in minimizing energy losses, making them the preferred choice. With the
increasing emphasis on renewable energy sources like wind and solar, HV cables
are crucial for integrating electricity generated at remote renewable energy
installations into the broader grid. These renewable energy facilities are
often located in areas with abundant natural resources but far from population
centers. HV cables enable the efficient transfer of this electricity to where
it is needed most, contributing significantly to the global transition to clean
energy. Many industrial facilities, data centers, and large commercial
establishments rely on high voltage electricity for their operations. HV cables
provide a reliable means of delivering substantial power to these facilities.
Their capability to transmit electricity efficiently over long distances makes
them indispensable for powering industries and commercial complexes. Governments
and utilities worldwide are investing in grid modernization efforts, which
frequently involve replacing aging infrastructure with HV underground DC
electric cables. This modernization initiative enhances grid reliability,
reduces energy losses, and facilitates the integration of distributed energy
resources. HV cables play a pivotal role in these upgrades. In densely
populated urban areas, where power demand is substantial, HV cables are used to
efficiently distribute electricity to substations and critical infrastructure.
Their capacity to carry large power loads is well-suited to meet the
electricity needs of expanding urban populations and support the
electrification of various urban systems. The higher efficiency of HV cables,
resulting in reduced energy losses, aligns with sustainability and energy
efficiency goals. Reducing wasted energy during transmission supports
sustainability objectives and helps minimize environmental impact. HV cables
are often built to internationally recognized standards, ensuring compatibility
and interoperability with a wide range of equipment and systems. This
standardization simplifies procurement, installation, and maintenance processes
for utilities and project developers worldwide. HV cables can be customized to
meet the specific voltage requirements, environmental conditions, and project
specifications. Their versatility and adaptability make them suitable for a
broad array of applications, from interconnecting substations to connecting
offshore wind farms.
.
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Regional Insights
Asia Pacific
Asia Pacific was the largest market for
underground DC electric cables, accounting for over 40% of the global market in
2022. The growth of the market in the region is driven by the increasing demand
for renewable energy and the growing investment in new power infrastructure.
Some of the key markets in the Asia Pacific region include China, India, and
Japan.
China
is the largest market for underground DC electric cables in the world. The
growth of the market in China is driven by the increasing demand for renewable
energy and the growing investment in new power infrastructure. Some of the
major players in the Chinese market include ABB, Prysmian Group, and NKT.
India
is the second-largest market for underground DC electric cables in the Asia
Pacific region. The growth of the market in India is driven by the increasing
demand for renewable energy and the growing investment in new power
infrastructure. Some of the major players in the Indian market include ABB,
Prysmian Group, and LS Cable & System.
North America
North America was the second-largest
market for underground DC electric cables, accounting for over 30% of the
global market in 2022. The growth of the market in the region is driven by the
increasing demand for the interconnection of power grids and the growing
investment in offshore wind power. Some of the key markets in the North America
region include the United States and Canada.
The
United States is the largest market for underground DC electric cables in the
North America region. The growth of the market in the United States is driven
by the increasing demand for interconnection of power grids and the growing
investment in offshore wind power. Some of the major players in the US market
include ABB, Prysmian Group, and NKT.
Europe
Europe was the third-largest market for
underground DC electric cables, accounting for over 20% of the global market in
2022. The growth of the market in the region is driven by the increasing demand
for renewable energy and the growing investment in interconnection of power
grids. Some of the key markets in the Europe region include Germany, the United
Kingdom, France, and Italy.
Germany
is the largest market for underground DC electric cables in the Europe region.
The growth of the market in Germany is driven by the increasing demand for
renewable energy and the growing investment in interconnection of power grids.
Some of the major players in the German market include ABB, Prysmian Group, and
Siemens.
Recent Developments
- ABB
announced an investment of USD 100 million in its HVDC cable manufacturing
facility in Karlskrona, Sweden. This investment will expand the company's
production capacity for HVDC cables, including underground cables.
- Prysmian
Group acquired General Cable for USD 3.1 billion. This acquisition will make
Prysmian Group the world's largest cable manufacturer and strengthen its
position in the underground DC electric cable market.
- NKT
announced the construction of a new HVDC cable manufacturing facility in
Cologne, Germany. This facility will be one of the largest HVDC cable
manufacturing facilities in the world and is expected to start production in
2025.
- Nexans
announced the construction of a new HVDC cable manufacturing facility in
Charleston, South Carolina. This facility is expected to start production in
2023.
- Southwire
announced a USD 10 million investment in its underground HVDC cable
manufacturing facility in Carrollton, Georgia. This investment will expand the
company's production capacity for underground HVDC cables and create new jobs.
- LS
Cable & System announced a USD 120 million investment in its underground
HVDC cable manufacturing facility in Pyeongtaek, South Korea. This investment
will expand the company's production capacity for underground HVDC cables and
meet the growing demand for renewable energy integration.
- Sumitomo
Electric Industries announced a USD 50 million investment in its underground
HVDC cable manufacturing facility in Osaka, Japan. This investment will expand
the company's production capacity for underground HVDC cables and meet the growing
demand for interconnection of power grids.
Key Market Players
- ABB Ltd.
- Prysmian
Group S.p.A.
- NKT A/S
- Nexans S.A.
- Siemens AG
- Hitachi,
Ltd.
- LS Cable
& System Ltd.
- Southwire
Company
- Sumitomo
Electric Industries, Ltd.
- Mitsubishi
Electric Corporation
|
By Cable Construction
|
By Installation Method
|
By End-User Industry
|
By Voltage Rating
|
By Region
|
- Single-Core Cables
- Multi-Core Cables
- Self-Contained Fluid-Filled (SCFF) Cables
- Mass Impregnated (MI) Cables
- Extruded Cables
|
- Direct Buried
- Trenching
- Ducting
|
- Utilities
- Renewables
- Industrials
- Commercial
- Transportation
|
- High Voltage
- Medium Voltage
- Low Voltage
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
|
Report Scope:
In this report, the Global Underground DC Electric
Cable Market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- Underground DC Electric
Cable Market, By
Cable Construction:
o Single-Core Cables
o Multi-Core Cables
o Self-Contained Fluid-Filled (SCFF) Cables
o Mass Impregnated (MI) Cables
o Extruded Cables
- Underground DC Electric
Cable Market, By
Installation Method:
o Direct Buried
o Trenching
o Ducting
- Underground DC Electric
Cable Market, By
Voltage Rating:
o High Voltage
o Medium Voltage
o Low Voltage
- Underground DC Electric
Cable Market, By
End-User Industry:
o Utilities
o Renewables
o Industrials
o Commercial
o Transportation
- Underground DC Electric
Cable Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Underground
DC Electric Cable Market.
Available Customizations:
Global Underground DC Electric Cable market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
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