Europe HVAC Cables Market Future Challenges, Growth Analysis & Forecast To 2030

16-12-2022

By Ronak Bora

Prysmian SpA’s recent acquisition of inter array cable contract for 496 megawatts Saint Brieuc offshore wind farm project, has enabled the overall Europe HVAC cables market to carve out a profitable growth map. As per news reports, the Italian cables and electric power transmission manufacturer, had in early 2020 announced that it was looking after the supply, installation, and commissioning of 90 kilometers of 3-core 66 kilovolt HVAC XLPE-insulated inter-array cables, to facilitate the USD 88 million worth wind farm project. Moreover, it has been claimed that the delivery and commissioning of the cables are scheduled to happen by the end of 2022, considering the COVID-19 pandemic situation.

Driven by the product’s cost effectiveness, tailored, and dynamic turnkey solutions offered across subsea and onshore cable system, On top of that, demand for HVAC cables is also rising across the region owing to the prolific expansion of smart grid infrastructure, in conjugation with increased adoption of sustainable energy facilities.

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Below mentioned are some of the trends that are expected to propel the demand for HVAC cables in the European region in the upcoming years:

Rising government intervention

One of the fundamental factors that has been driving the growth of Europe HVAC cables market over the years is favorable government regulations towards the revamping and refurbishment of existing transmission networks. Also, initiatives undertaken to incorporate an energy effective environment have supported the thriving business scenario. Besides, positive government policies and regulations aligned with improved trade relations among European economies would further stimulate the market outlook.

In addition to the aforementioned, ongoing deployment of offshore wind and expanding technological enhancements to reduce installation and maintenance costs, approved by various state and central governments would, at a larger scale, favor the market progression.

Proliferation of >440 kV HVAC cables

Standing upfront in Europe HAVC cables industry, >440 kV cables have been gaining increased attention of late owing to their extensive applicability across various large scale industries, offshore wind farms, and oil and gas platforms. What has been driving the product demand across these industries is its low installation and maintenance cost.

In line with these, ongoing replacement and refurbishment of traditional power networks, in tandem with mounting development of smart grid infrastructure is expected to offer a thrust to the overall market across the given segment.

Robust technological advancements

Technology being the need of the hour currently, has been witnessing a gradual adoption in Europe HVAC cables market as well. It has been claimed that increasing power generation capability along with a considerable rise in electrification programs including T&D activities have offered a lucrative growth path to the overall market over the recent years.

Speaking on the technological front, constant upgradation o technology to improve the efficiency and operation, and also grid safety of these cables would further impel the market dynamics in over the analysis timespan.

Not to mention, R&D investments by myriad leading manufacturers in the market along with inorganic strategic implications have been potentially empowering the market growth while allowing the producers to gain a competitive edge over others.

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In a nutshell, aforementioned trends have not only enabled the industry conglomerates to look into the possibilities of investing in the market but has also led Europe HVAC cables business to stand tall in the overall energy cosmos.

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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....