North America HV & EHV Underground Cables Market was valued at USD 2.1 Billion in 2022 and is projected to reach USD 3.8 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The North America HV & EHV underground cables market has gained significant momentum in recent years due to increasing demand for reliable and efficient power transmission systems. As power grids continue to evolve and expand, industries are turning to high-voltage (HV) and extra-high-voltage (EHV) underground cables for a more resilient, secure, and environmentally friendly solution to traditional overhead lines. This shift is driven by growing urbanization, the need for a more robust infrastructure, and heightened environmental concerns.
One of the major drivers behind the market growth is the rising need for electricity in densely populated regions. Urban development, combined with technological advancements, requires a continuous and uninterrupted power supply. Underground cables offer significant advantages, such as reduced visual impact, minimal risk of damage from natural disasters, and lower maintenance costs compared to traditional overhead systems.
Additionally, industries such as renewable energy, construction, and telecommunications are heavily investing in HV & EHV underground cable solutions. For instance, renewable energy projects, particularly wind and solar farms, need efficient and long-lasting power transmission networks to transport generated electricity over vast distances to urban centers. Likewise, the telecommunication sector is adopting underground cables for better protection of sensitive fiber optic networks, which are essential for modern communication systems.
Moreover, industries involved in the manufacturing and distribution of power equipment are continually innovating to meet the rising demand for efficient underground cables. Technological advancements, such as the development of advanced insulation materials and cable designs, have enhanced the performance and durability of HV & EHV cables. Furthermore, governmental regulations and policies aimed at reducing environmental impact and enhancing energy security are propelling the market even further.
With these factors in mind, the North America HV & EHV Underground Cables Market is poised for substantial growth as industries continue to rely on advanced underground cable solutions to meet power transmission demands efficiently and sustainably.
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Prysmian Group
Nexans
Southwire
Hengtong Group
Furukawa Electric
Sumitomo Electric Industries
Qrunning Cable
LS Cable & System
Taihan Electric
Riyadh Cable
NKT Cables
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America HV & EHV Underground Cables Market
Direct Current
Alternative Current
Based on Types the Market is categorized into Below types that held the largest HV & EHV Underground Cables market share In 2023.
HV
EHV
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America HV & EHV Underground Cables Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America HV & EHV Underground Cables Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America HV & EHV Underground Cables Market, By Type
6. North America HV & EHV Underground Cables Market, By Application
7. North America HV & EHV Underground Cables Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America HV & EHV Underground Cables Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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