Extruded HVDC Cable is an important component of the power transmission and distribution system. It is a high voltage direct current (HVDC) cable that is used to transmit large amounts of power over long distances, typically in excess of 50km. This cable is made up of a number of layers, including an insulating layer, a metallic shield layer, and a polymeric outer layer. Extruded HVDC Cable is used to transmit power from renewable energy sources, including wind farms and solar power plants, to the grid.
The global market for Extruded HVDC Cable is expected to grow at a compound annual growth rate (CAGR) of 5.3% between 2017 and 2022, reaching a market size of US$2852 million in 2022. This growth is largely driven by the increasing adoption of renewable energy sources, particularly in developing countries, as well as the need to upgrade the existing power transmission infrastructure to improve the efficiency of power transmission.
Extruded HVDC Cable has various applications, including Submarine, Underground, and Overhead. Submarine cable systems are used to transmit power from offshore wind farms to the shore, while underground and overhead cable systems are used for onshore power transmission. The submarine application segment is expected to account for the largest share of the Extruded HVDC Cable market over the forecast period, owing to the increasing adoption of offshore wind energy.
The major global manufacturers of Extruded HVDC Cable include ABB, Nexans, NKT, Prysman, General Cable, and LS Cable. These companies have a strong presence in the market, owing to their extensive product portfolios, global distribution networks, and focus on innovation. Factors such as technological advancements in the manufacturing process, increasing collaboration between manufacturers and OEMs, and the development of new applications, are expected to drive the growth of the Extruded HVDC Cable market over the forecast period.
In conclusion, Extruded HVDC Cable is an essential component of the power transmission and distribution system, which is expected to witness significant growth over the forecast period. The increasing adoption of renewable energy sources and the need to upgrade existing power transmission infrastructure are expected to drive the growth of the market. The major global manufacturers of Extruded HVDC Cable are expected to maintain their dominance in the market, owing to their extensive product portfolios and focus on innovation.
The SWOT analysis of the Extruded HVDC Cable industry is as follows:
Strengths:
1. High demand for reliable, high-capacity power transmission solutions, particularly for long-distance transmission.
2. Extruded HVDC cables are superior to traditional AC cables in terms of transmitting power over long distances.
3. Extruded HVDC cables are less susceptible to transmission losses and power distortion compared to AC cables.
4. The application of extruded HVDC cables is wide-ranging, from offshore wind farms to cross-country power transmission.
5. Advanced manufacturing technologies and materials used in the production of extruded HVDC cables.
Weaknesses:
1. Higher cost of extruded HVDC cables compared to traditional AC transmission lines.
2. Limited availability of high-voltage power transformers, which are required for the installation of HVDC cables.
3. High installation costs due to the need for specialized equipment and skilled labor.
4. Limited public awareness of the benefits of HVDC transmission technology.
Opportunities:
1. Growing demand for clean and renewable energy solutions.
2. Increasing emphasis on high-capacity power transmission and infrastructure development in emerging economies.
3. Development of new extrusion technologies and materials to improve the cost-effectiveness and performance of extruded HVDC cables.
4. Potential for integration of HVDC cables with energy storage systems to enable grid stability and frequency control.
Threats:
1. Competition from established AC transmission technologies.
2. Uncertainty regarding government policies and regulations affecting the adoption of HVDC technology.
3. Fluctuating prices of raw materials such as copper and aluminum, which are used in the production of HVDC cables.
4. Potential safety concerns and environmental impacts associated with the installation and operation of HVDC cables.
Key players in global Extruded HVDC Cable market include:
ABB
Nexans
NKT
Prysman
General Cable
LS Cable
Market segmentation, by product types:
60-150 KV
151-300 KV
Above 300 KV
Market segmentation, by applications:
Submarine
Underground
Overhead
Summary:
Get latest Market Research Reports on Extruded HVDC Cable. Industry analysis & Market Report on Extruded HVDC Cable is a syndicated market report, published as Global Extruded HVDC Cable Market Report 2018-2029. It is complete Research Study and Industry Analysis of Extruded HVDC Cable market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.