Press Release: Europe HVAC Cables Market Trends- Industry Analysis, Share, Growth, Product, Top Key Players and Forecast 2026

Expansion of smart grid networks, retrofit & refurbishment of existing grid infrastructure, integration of intra-regional and inter-regional transmission network, and rising deployment of offshore wind farms are the key factors driving the growth of Europe HVAC cables market.

Notably, high voltage cables are employed across several applications, especially where traditional cables fail to deliver best performance. The HVAC cables possess better insulation cover, which offers damage protection from environmental elements. Power transmission utilities and various other industries including manufacturing, renewable energy, water, railways, steel, airports, and nuclear & thermal power station are the key consumers of these cables.

They support integration of renewable power to grid, further offer grid extension to the single points such as offshore oil, gas, and wind installations. Expansion of offshore wind farms aid in connecting power grids and offshore turbines, which further contributes to the popularity of submarine HVAC cables. It also ensures efficient energy transmission and low loss.

These cables offer secure electricity transmission across locations throughout Europe. The collective efforts of TSOs, regulators, governments, along with Europe cable industry to achieve subsea and underground cable projects, aids in overcoming the challenges associated with overhead lines.

Based on voltage, the industry is categorized into greater than 440 kV, less than 110 kV, 110 kV- 200 kV, and 220 kV- 440 kV. The less than 110 kV segment is likely to witness a substantial growth over the forecast timespan.

Citing the regional landscape, Spain HVAC cables market generated revenue of USD 55 million in 2019 and is slated to grow substantially over the analysis period. As per the regulations by Spanish government, renewable energy is likely to represent 74% of its electricity supply by the year 2030.

In 2019, Netherlands HVAC cables market witnessed installation of over 20 km annually owing to its growing offshore wind industry. Dutch government will meet 14% energy demands in Netherlands from the renewable energy sources through 2020.

Meanwhile, Belgium successfully accomplished installation of over 50 km modular offshore grid HVAC cable line, with the project valued at USD 450 million. Austria HVAC cables market is expected to amass USD 200 million over the study period owing to the economy’s efforts to decarbonize by growing adoption of clean energy sources.

In 2019, Lithuania HVAC cables market was worth USD 500 million and is anticipated to grow substantially over the analysis period.

Major players in Europe HVAC cables market are TF Kable, Cablel Hellenic Cables Group, Tratos, Alfanar, Elsewedy Electric, ABB Limited, Taihan Electric Wire Co. Ltd., Furukawa Electric, NKT, LS Cable & System, Nexans, and Prysmian Group.

Question and Answer: Europe HVAC Cables Market

Q1) What are the growth driving factors of Europe HVAC cables market?

Answer: Expansion of smart grid networks, retrofit & refurbishment of existing grid infrastructure, integration of intra-regional and inter-regional transmission network, and rising deployment of offshore wind farms are the key factors driving the growth of Europe HVAC cables market.

Q2) How is Netherlands region contributing to Europe HVAC cables market?

Answer: Netherlands HVAC cables market witnessed installation of over 20 km annually owing to its growing offshore wind industry, thereby propelling the market outlook.

Q3) Which are the major players in Europe HVAC cables market?

Answer: Major players in Europe HVAC cables market are TF Kable, Cablel Hellenic Cables Group, Tratos, Alfanar, Elsewedy Electric, ABB Limited, Taihan Electric Wire Co. Ltd., Furukawa Electric, NKT, LS Cable & System, Nexans, and Prysmian Group.