According to the report released by 360 Market Updates, the global ultra-high voltage cable Market will reach 1.91 billion USD in 2018 and 2.91 billion USD in 2025, with a compound annual growth rate of 5.4% in the forecast period.
Important types of UHV cable products covered by the report include: 230-320kv;320-550 kv;550-1000kv, important applications include overhead conductors, submarine cables and land cables.
In the next few years, increasing demand for UHV cables in Europe and the United States is expected to drive growth in the more advanced UHV cable market, the report said. At the same time, as the power sector spends more, competition becomes more intense, infrastructure spending increases, and old technologies are transformed, thereby stimulating the application of ultra-high voltage cables in the asia-pacific region and driving the growth of global market demand.
The consumption of uhv cables is related to the downstream industry and the global economy. With some uncertainty in the global economy for years to come, the UHV cable industry may not grow that fast. But no doubt, the ultra - high - voltage cable market is still optimistic. At the same time, the asia-pacific region accounted for 39.13 percent of the sales market share in 2017, which is outstanding in the global ultra-high voltage cable industry.