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According to a new market research report released by Technavio, the global high-voltage power cable market is expected to grow at a CAGR of more than 7%
during the period 2018-2022.
Globally, fossil fuels are one of the main sources of emissions, with more than two-thirds of the world's electricity coming from fossil fuels
.
To reduce carbon emissions, governments around the world are aggressively developing cleaner fuel sources such as nuclear and renewable energy
.
Renewable energy capacity has grown extensively due to government policies, incentives, and lucrative ones, which has led to a significant increase
in the share of renewable and alternative energy sources in the global energy mix.
Looking at global trends, HVDC systems are proving to be an economically viable solution for long-distance, high-capacity transmission, aiming to end energy isolation and eliminate factors
hindering the growth of the internal energy market.
Therefore, high-voltage DC cables are considered ideal, including cross-border power transmission
with high loads.
In addition, the lighter weight of HVDC cables compared to AC cables also makes them the first choice
for submarine cables.
On the other hand, the installation and maintenance of cables is considered capital intensive and challenging
.
It involves a large number of risks
at all stages.
Choosing a path is the first step
in the installation process.
A cable-laying project is expected to run for 25 years, making choosing a path a major challenge
.
From the perspective of market area, in 2017, the Asia-Pacific region was the largest regional market
for high-voltage power cables.
In 2022, the Asia-Pacific region is expected to continue to dominate the global high-voltage cable market
with increasing demand for energy and power infrastructure in emerging markets in the Asia-Pacific region such as India and China.
According to a new market research report released by Technavio, the global high-voltage power cable market is expected to grow at a CAGR of more than 7%
during the period 2018-2022.
Globally, fossil fuels are one of the main sources of emissions, with more than two-thirds of the world's electricity coming from fossil fuels
.
To reduce carbon emissions, governments around the world are aggressively developing cleaner fuel sources such as nuclear and renewable energy
.
Renewable energy capacity has grown extensively due to government policies, incentives, and lucrative ones, which has led to a significant increase
in the share of renewable and alternative energy sources in the global energy mix.
Looking at global trends, HVDC systems are proving to be an economically viable solution for long-distance, high-capacity transmission, aiming to end energy isolation and eliminate factors
hindering the growth of the internal energy market.
Therefore, high-voltage DC cables are considered ideal, including cross-border power transmission
with high loads.
In addition, the lighter weight of HVDC cables compared to AC cables also makes them the first choice
for submarine cables.
On the other hand, the installation and maintenance of cables is considered capital intensive and challenging
.
It involves a large number of risks
at all stages.
Choosing a path is the first step
in the installation process.
A cable-laying project is expected to run for 25 years, making choosing a path a major challenge
.
From the perspective of market area, in 2017, the Asia-Pacific region was the largest regional market
for high-voltage power cables.
In 2022, the Asia-Pacific region is expected to continue to dominate the global high-voltage cable market
with increasing demand for energy and power infrastructure in emerging markets in the Asia-Pacific region such as India and China.
