The global high voltage cable market is expected to see a CAGR of 67%, reaching $47.1bn in 2022, according to Allied Market Research. Global high voltage cable market is expected to garner $47.1 billion by 2022, growing at a CAGR of 6.7% from 2016 to 2022, with submarine cables expected to witness the fastest growth during the forecast period with a CAGR of over 8%, according to a new research published by Allied Market Research. Submarine cable is expected to grow the fastest, being used in wind energy, power utilities and oil and gas projects, while overhead lines will give way to underground cable, which enhances safety, and reduces the amount of land needed as well as radio interference. In terms of total capacity, submarine cables are projected to be able to carry more than twice as much data per second compared with undersea cables, making them an attractive option for companies looking to increase their capacity
The global high voltage cable market is expected to see a CAGR of 67%, reaching $47.1bn in 2022, according to Allied Market Research. Submarine cable is expected to grow the fastest, being used in wind energy, power utilities and oil and gas projects, while overhead lines will give way to underground cable, which enhances safety, and reduces the amount of land needed as well as radio interference. In terms of total capacity, submarine cables are projected to be able to carry more than twice as much data per second compared with undersea cables, making them an attractive option for companies looking to increase their capacity