DC Electric Cable Market Size & Share, by Application (Battery, HVDC Transmission, Solar Panels, Electronic Devices); Insulation Type (PVC, XLPE, HPTE, Mass Impregnated Paper, Mass Impregnated Polypropylene Laminate Paper), End-user (Utilities & Power Grids, IT & Telecom, Automotive & Transportation, Electronics) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Growing Concern for Power Loss in Power Distribution Systems
  According to the U.S. Energy Information (EIA), electricity transmission and distribution losses as a percentage in the U.S.  increased from 4.67% in the year 2015 to 5.12% in the year 2017.
  There is a rising concern amongst power distribution agencies for the loss generated during transmission of electricity between two interconnected grids. DC cable transmission have lower losses than a corresponding AC cable link. Usually, converter station losses are normally as low as 0.6% per station, and DC cable losses are only around 0.3-0.4% per 100kms. Moreover, for cable links longer than 40-50km, DC electric cables provides lower investment costs, compensating on the back of installing only one DC cable instead of three AC cables. Additionally, long AC cables produce high amounts of reactive power which results in the requirement of shunt reactors at both ends and reducing the active power transmission capability. DC cables do not observe such drawbacks when compared to the AC cables. Furthermore, DC links can connect two asynchronous power grids and the high controllability of the DC system helps in the operating conditions of the interconnected grids.
• Shifting Trends Towards Renewable Sources of Energy
  Growing concern for the environment is raising the demand for renewable energy sources, such as solar energy, wind energy, geothermal energy and others. DC electric cables are lifelines of the solar power plant as they play a significant role on the overall power output as well as to reduce the performance issues observed in solar panels. Moreover, rising deployment of solar panels around the globe is anticipated to raise the demand for DC solar cables. As solar panels are deployed outdoors, it is very important to utilize cables which can bear the harsh outdoor conditions, such as, direct sun radiation, air humidity, and others, and should have the characteristics of UV-resistance. DC electric cables provide a wide range of characteristics that meets the basic necessity for the deployment of the cables in solar panels. On the back of being able to withstand mechanical stress, being suitable for a large temperature range, are abrasion resistant, acid and base proof, have dielectric strength, and are also flame-retardant and halogen free, which makes DC electric cables the best suitable cable for solar panels.

Challenges

• Lack of Awareness for DC Cables
  Unavailability of proper knowledge for the utilization of DC cables amongst consumers is anticipated to hinder the growth of the global DC electric cable market during the forecast period.