High Voltage Cable Market Share

On the basis of geographical analysis, the high voltage cable market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Asia Pacific industry is set to account for largest revenue share by 2036, led by growing population and power requirement in the region. For instance, the population of China is calculated to reach to approximately 1.42 billion in the year 2026. According to the World Bank, the current population of the nation is 1.397 billion. Moreover, growing investment in building transmission line networks in rural areas in nations, namely China and India is expected to fuel the expansion of market in the near future. However, the Middle East and Africa region is also predicted to observe modest market growth during the forecast period wing to rising investments to promote wind energy. This in turn is assessed to increase the demand for high voltage cables in the region.

Frequently Asked Questions (FAQ)

Increasing energy consumption around the world and robust growth of renewable energy sector are the major market growth drivers.

The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021 â€“ 2029.

Delay in electricity project approval in under-developed and developing countries is estimated to hamper the market growth.

Asia Pacific will provide more business growth opportunities on the back of increasing population and power requirement in the region.

The major players in the market are ABB Ltd, Finolex Cables Ltd, Nexans SA, Prysmian SpA, NKT A/S, and others.

High Voltage Cable Market Share