Europe Hvdc Cables Market Trends, Size and Analysis 2034
Europe HVDC Cables Market Growth, Size, Trends Analysis - By Voltage, By Installation, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: POAE25112 | Pages: 1 - 259 | Formats*: |
| Category : Power & Energy | |||
Europe HVDC Cables Market Introduction and Overview
According to SPER Market Research, the Europe HVDC Cables Market is estimated to reach USD 32.54 billion by 2034 with a CAGR of 19.24%.
The report includes an in-depth analysis of the Europe HVDC Cables Market, including market size and trends, product mix, Applications, and supplier analysis. The Europe HVDC Cables Market was valued at USD 5.6 billion in 2024 and is projected to experience a compound annual growth rate (CAGR) of 19.24% from 2025 to 2034. The region's emphasis on modernising the grid and boosting offshore wind energy is responsible for the predicted spike in demand for HVDC cables in Europe. The shift towards cleaner energy sources promotes the installation of new transmission lines, thereby fostering the growth of the HVDC cables market.
By Voltage Insights
In 2024, the market was predominantly led by extra high voltage HVDC cables, which range from 475 kV to 600 kV. These cables facilitate the efficient transmission of electricity over extensive distances, making them particularly suitable for linking remote renewable energy sources to the grid. As Europe places a greater emphasis on renewable energy, the demand for EHV HVDC cables has seen a significant increase. These cables effectively connect distant generation sites to urban centers, providing higher voltage ratings and enhanced power transmission capacity compared to lower voltage options. Various economic benefits, including diminished transmission losses, reduced operating expenses, and improved system efficiency, are promoting their adoption and contributing to their market leadership.
By Installation Insights
The HVDC cable market in Europe employs a range of installation methods, including underground, submarine, and overhead installations. The submarine HVDC cable sector in Europe is anticipated to experience the fastest compound annual growth rate (CAGR) through 2034. The limited availability of land for transmission infrastructure, coupled with the environmental sensitivity of coastal regions, renders submarine cables a preferred choice for interconnection initiatives. Technological innovations in submarine HVDC cables, such as enhanced power transmission capacity and greater reliability, have propelled their adoption, thereby solidifying their leading market position within the installation segment.
Regional Insights
The UK has established a strong presence in the HVDC cables market due to its swift expansion of offshore wind farms and its commitment to the integration of renewable energy sources. With ambitious goals set for increasing offshore wind capacity, the need for HVDC cables to carry electricity from offshore wind farms to onshore grid connections has risen considerably throughout the country. Furthermore, the UK has made significant investments in interconnection initiatives to improve energy security and promote cross-border electricity trading with neighboring nations, consequently boosting the demand for this product.
Market Competitive Landscape
The competition in the European HVDC cables market is characterised by a mix of innovative leadership and strategic positioning among global and regional players. As demand escalates owing to the growth of offshore wind power and cross-border grid interconnection projects, leading manufacturers are amplifying their initiatives to set themselves apart through advancements in technology and operational proficiency. A limited number of well-established companies, including Nexans, Prysmian Group, and ABB, which possess extensive technical knowledge, dominate the market and exert considerable control over project implementation and supply chain processes.
Recent Developments:
Nexans announced plans in March 2024 to expand its HVDC cable production facility in France, with the goal of increasing submarine cable manufacturing capacity and effectively meeting the growing demands of the Northern European offshore wind and interconnector markets.
In July 2024, ABB introduced a new generation of compact HVDC converter stations tailored specifically for offshore platforms, facilitating more efficient integration of remote wind farms into mainland grids and bolstering its portfolio for upcoming European energy initiatives.
In April 2023, Siemens Energy and Dragados Offshore entered into a USD 7.52 billion agreement with TenneT for HVDC transmission technology concerning three North Sea grid connections in Germany. This consortium will provide components for the transmission of 6 GW of offshore wind power to the mainland, with Siemens responsible for manufacturing in Europe and Dragados overseeing platform construction and installation, thereby enhancing Siemens Energy's customer base in Europe.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Voltage, By Installation, By Application |
| Regions covered | France, Germany, Italy, Spain, United Kingdom, Rest of Europe |
| Companies Covered | ABB Ltd, ACOME, Brugg Kabel AG, GE, LS Cable & System Ltd, Nexans, NKT A/S, Prysmian Group, Siemens AG, Sumitomo Electric Industries, Ltd, Tele-Fonika Kable S.A, TOSHIBA CORPORATION. |
Key Topics Covered in the Report
- Europe HVDC Cables Market Size (FY’2021-FY’2034)
- Overview of Europe HVDC Cables Market
- Segmentation of Europe HVDC Cables Market By Voltage (High voltage, Extra high voltage, Ultra-high voltage)
- Segmentation of Europe HVDC Cables Market By Installation (Overhead, Submarine, Underground)
- Segmentation of Europe HVDC Cables Market By Application (Intra-Regional, Cross Border)
- Statistical Snap of Europe HVDC Cables Market
- Expansion Analysis of Europe HVDC Cables Market
- Problems and Obstacles in Europe HVDC Cables Market
- Competitive Landscape in the Europe HVDC Cables Market
- Details on Current Investment in Europe HVDC Cables Market
- Competitive Analysis of Europe HVDC Cables Market
- Prominent Players in the Europe HVDC Cables Market
- SWOT Analysis of Europe HVDC Cables Market
- Europe HVDC Cables Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source
2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPERs internal database2.1.4.Premium insight from KOLs
2.2.Market size estimation
2.2.1.Top-down and Bottom-up approach
2.3.Data triangulation
3.Executive Summary
4.Market Dynamics
4.1.Driver, Restraint, Opportunity and Challenges analysis
4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis
5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats
5.2.PESTEL Analysis
5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape
5.3.PORTERs Five Forces
5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry
5.4.Heat Map Analysis
6.Competitive Landscape
6.1.Europe HVDC Cables Market Manufacturing Base Distribution, Sales Area, Product Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe HVDC Cables Market
7.Europe HVDC Cables Market, By Voltage (USD Million) 2021-2034
7.1.High voltage (35 kV to 475 kV)7.2.Extra high voltage (>475 kV to 600 kV)7.3.Ultra-high voltage (>600 kV)
8.Europe HVDC Cables Market, By Installation (USD Million) 2021-2034
8.1.Overhead8.2.Submarine8.3.Underground
9.Europe HVDC Cables Market, By Application (USD Million) 2021-2034
9.1.Intra-regional9.2.Cross Border9.3.Others
10.Europe HVDC Cables Market, (USD Million) 2021-2034
10.1.Europe HVDC Cables Market Size and Market Share
11.Europe HVDC Cables Market, By Region, (USD Million) 2021-2034
11.1.France11.2.Germany11.3.Italy11.4.Spain11.5.United Kingdom11.6.Rest of Europe
12.Company Profile
12.1.ABB Ltd
12.1.1.Company details12.1.2.Financial outlook12.1.3.Product summary12.1.4.Recent developments
12.2.ACOME
12.2.1.Company details12.2.2.Financial outlook12.2.3.Product summary12.2.4.Recent developments
12.3.Brugg Kabel AG
12.3.1.Company details12.3.2.Financial outlook12.3.3.Product summary12.3.4.Recent developments
12.4.GE
12.4.1.Company details12.4.2.Financial outlook12.4.3.Product summary12.4.4.Recent developments
12.5.LS Cable & System Ltd
12.5.1.Company details12.5.2.Financial outlook12.5.3.Product summary12.5.4.Recent developments
12.6.Nexans
12.6.1.Company details12.6.2.Financial outlook12.6.3.Product summary12.6.4.Recent developments
12.7.NKT A/S
12.7.1.Company details12.7.2.Financial outlook12.7.3.Product summary12.7.4.Recent developments
12.8.Prysmian Group
12.8.1.Company details12.8.2.Financial outlook12.8.3.Product summary12.8.4.Recent developments
12.9.Siemens AG
12.9.1.Company details12.9.2.Financial outlook12.9.3.Product summary12.9.4.Recent developments
12.10.Sumitomo Electric Industries, Ltd
12.10.1.Company details12.10.2.Financial outlook12.10.3.Product summary12.10.4.Recent developments
12.11.Tele-Fonika Kable S.A
12.11.1.Company details12.11.2.Financial outlook12.11.3.Product summary12.11.4.Recent developments
12.12.TOSHIBA CORPORATION
12.12.1.Company details12.12.2.Financial outlook12.12.3.Product summary12.12.4.Recent developments
12.13.Others
13.Conclusion
14.List of Abbreviations
15.Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Hvdc Cables Market is projected to reach USD 32.54 billion by 2034, growing at a CAGR of 19.24% during the forecast period.
Europe Hvdc Cables Market size from 2025. The Market is expected to reach USD 32.54 billion by 2034, at a CAGR of 19.24% during the forecast period.
Europe Hvdc Cables Market CAGR of 19.24% during the forecast period.
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Europe Hvdc Cables Market size is USD 32.54 billion from 2025 to 2034.
Europe Hvdc Cables Market covered By Voltage, By Installation, By Application
The North America is anticipated to have the highest Market share in the Europe Hvdc Cables Market.
ABB Ltd, ACOME, Brugg Kabel AG, GE, LS Cable & System Ltd, Nexans, NKT A/S, Prysmian Group, Siemens AG, Sumitomo Electric Industries, Ltd, Tele-Fonika Kable S.A, TOSHIBA CORPORATION.
The report includes an in-depth analysis of the Europe HVDC Cables Market, including market size and trends, product mix, Applications, and supplier analysis.
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