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Report
Sweden High Voltage Cable Market Forecast 2024-2032
Market Report I 2024-07-16 I 147 Pages I Inkwood Research
KEY FINDINGS
The Sweden high voltage cable market is evaluated to register a CAGR of 5.55% by 2032 and is projected to reach a revenue of $903.51 million over the forecast period, 2024 and 2032.
MARKET INSIGHTS
According to the International Energy Agency (IEA), Sweden holds the distinction of being the first country to implement carbon pricing and currently boasts the world's highest carbon price. This approach has been instrumental in catalyzing Sweden's efforts towards decarbonization. Also, the nation predominantly relies on hydroelectric and nuclear power for its electricity supply, supplemented by an increasing share of wind energy.
Sweden's high voltage cable market is experiencing robust growth, supported by the country's significant strides towards renewable energy adoption. With a government target of achieving 100% renewable electricity production by 2040, Sweden stands out for its progressive energy policies and abundant natural resources. The nation has already surpassed its goal of sourcing 50% of its energy from renewable sources, leveraging its ample supply of moving water and biomass. In this regard, hydropower is also pivotal, primarily used for electricity generation, while bioenergy plays a crucial role in heating applications.
In 2022, electricity consumption in Sweden decreased by 5% to 125 terawatt-hours (TWh), following a 3.8% increase in 2021. Prior to these fluctuations, consumption had remained relatively steady at approximately 130 TWh. The Swedish government has also implemented effective energy policies to bolster renewable energy use, exemplified by the Electricity Certificate System. This market-based support mechanism incentivizes electricity production from wind, solar, geothermal, and other renewable sources, reinforcing Sweden's commitment to sustainability.
Despite political divisions over nuclear power, which currently accounts for 30% of Sweden's electricity generation alongside hydroelectricity, the country continues to diversify its energy mix. The nation generates 32.5 terawatt-hours (TWh) of electricity from wind energy, contributing to 24.2% of the country's total electricity consumption. In comparison, combined heat and power (CHP) plants, predominantly fueled by biofuels, contribute an additional 9%.
This diverse energy portfolio not only supports Sweden's low emission rates but also fosters a competitive environment for high voltage cable solutions that can efficiently transmit power from various renewable sources across the grid. As Sweden advances towards achieving its ambitious renewable energy targets, the demand for high voltage cables capable of supporting reliable and efficient transmission networks is set to escalate during the forecast period.
SEGMENTATION ANALYSIS
The Sweden high voltage cable market segmentation includes end-user and installation. The installation segment includes industrial, renewable energy, and infrastructure. Renewable energy harnesses natural resources like wind, solar, tidal, and geothermal to generate electricity. High voltage cables play a crucial role in transmitting power from renewable energy plants to power grids or directly to industries. Submarine cables are primarily used in offshore renewable energy projects, while onshore projects utilize underground and overhead cables.
Projects such as wind and solar farms require substantial amounts of high voltage cables. While emerging economies are increasingly supporting renewable energy initiatives over non-renewable ones, some of the key factors driving the growth of the segment include government investments in renewable energy projects and the global shift towards cleaner energy sources amidst fossil fuel depletion. Additionally, the expansion of offshore power projects and rising power demand in developing nations present significant growth opportunities for the high voltage cable market.
COMPETITIVE INSIGHTS
Some of the top firms operating in the Sweden high voltage cable market include Prysmian Group, Siemens AG, Tele-Fonika Kable SA, etc.
Tele-Fonika Kable SA, based in Poland, stands as a premier supplier of cables across Europe, with a global reach spanning 80 countries. The company's extensive product range encompasses high and medium-voltage cables, installation wires, rubber-insulated cables, overhead conductors, telecom cables, and specialized offerings for mining, tunneling, and oil & gas sectors. Furthermore, the company also operates a cable recycling facility in Bukowno, Poland.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.5.1. IMPACT OF COVID-19 ON THE SWEDEN HIGH VOLTAGE CABLE MARKET
2.6. MAJOR MARKET FINDINGS
2.6.1. UNDERGROUND CABLES LEAD THE HIGH VOLTAGE CABLE MARKET, EMPHASIZING RELIABILITY AND SUSTAINABLE ENERGY SOLUTIONS
2.6.2. INFRASTRUCTURE SECTOR EMERGES AS THE FASTEST-GROWING END-USER SEGMENT
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. EXPANSION OF INFRASTRUCTURE PROJECTS
3.1.2. ESCALATING INVESTMENTS IN SMART GRID TECHNOLOGY
3.1.3. INCREASING INTEGRATION OF RENEWABLE ENERGY SOURCES IN POWER GENERATION
3.2. KEY RESTRAINTS
3.2.1. SUBSTANTIAL UPFRONT INVESTMENT
3.2.2. VOLATILITY IN RAW MATERIAL PRICES
4. KEY ANALYTICS
4.1. PARENT MARKET ANALYSIS
4.2. KEY MARKET TRENDS
4.2.1. RISING INVESTMENT IN OFFSHORE WIND PROJECTS AND ITS INFLUENCE ON HIGH VOLTAGE CABLE DEMAND
4.2.2. ADOPTION OF UNDERGROUND AND SUBMARINE CABLES
4.2.3. ADVANCEMENTS IN CABLE MATERIALS AND THEIR ROLE IN ENHANCING HIGH VOLTAGE CABLE EFFICIENCY
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR SWEDEN
4.5. MARKET MATURITY ANALYSIS
4.6. MARKET CONCENTRATION ANALYSIS
4.7. VALUE CHAIN ANALYSIS
4.7.1. RAW MATERIALS
4.7.2. HIGH VOLTAGE CABLE MANUFACTURES
4.7.3. DISTRIBUTORS
4.7.4. END-USERS
4.8. KEY BUYING CRITERIA
4.8.1. COST
4.8.2. PRODUCT FEATURES
4.8.3. EFFICIENCY
5. MARKET BY INSTALLATION
5.1. OVERHEAD
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. UNDERGROUND
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
5.3. SUBMARINE
5.3.1. MARKET FORECAST FIGURE
5.3.2. SEGMENT ANALYSIS
6. MARKET BY END-USER
6.1. INDUSTRIAL
6.1.1. POWER UTILITIES
6.1.1.1. MARKET FORECAST FIGURE
6.1.1.2. SEGMENT ANALYSIS
6.1.2. OIL & GAS
6.1.2.1. MARKET FORECAST FIGURE
6.1.2.2. SEGMENT ANALYSIS
6.1.3. MINING
6.1.3.1. MARKET FORECAST FIGURE
6.1.3.2. SEGMENT ANALYSIS
6.1.4. CHEMICAL & PETROCHEMICAL
6.1.4.1. MARKET FORECAST FIGURE
6.1.4.2. SEGMENT ANALYSIS
6.1.5. OTHER INDUSTRIAL END-USERS
6.1.5.1. MARKET FORECAST FIGURE
6.1.5.2. SEGMENT ANALYSIS
6.2. RENEWABLE ENERGY
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. INFRASTRUCTURE
6.3.1. COMMERCIAL
6.3.1.1. MARKET FORECAST FIGURE
6.3.1.2. SEGMENT ANALYSIS
6.3.2. RESIDENTIAL
6.3.2.1. MARKET FORECAST FIGURE
6.3.2.2. SEGMENT ANALYSIS
7. COMPETITIVE LANDSCAPE
7.1. KEY MARKET STRATEGIES
7.1.1. PRODUCT LAUNCHES & DEVELOPMENTS
7.1.2. PARTNERSHIPS & AGREEMENTS
7.2. COMPANY PROFILES
7.2.1. NEXANS
7.2.1.1. COMPANY OVERVIEW
7.2.1.2. PRODUCT PORTFOLIO
7.2.1.3. STRENGTHS & CHALLENGES
7.2.2. NKT CABLES
7.2.2.1. COMPANY OVERVIEW
7.2.2.2. PRODUCT PORTFOLIO
7.2.2.3. STRENGTHS & CHALLENGES
7.2.3. PRYSMIAN GROUP
7.2.3.1. COMPANY OVERVIEW
7.2.3.2. PRODUCT PORTFOLIO
7.2.3.3. STRENGTHS & CHALLENGES
7.2.4. SIEMENS AG
7.2.4.1. COMPANY OVERVIEW
7.2.4.2. PRODUCT PORTFOLIO
7.2.4.3. STRENGTHS & CHALLENGES
7.2.5. TELE-FONIKA KABLE SA
7.2.5.1. COMPANY OVERVIEW
7.2.5.2. PRODUCT PORTFOLIO
7.2.5.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - HIGH VOLTAGE CABLE
TABLE 2: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INSTALLATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INSTALLATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: SWEDEN HIGH VOLTAGE CABLE MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: SWEDEN HIGH VOLTAGE CABLE MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INDUSTRIAL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INDUSTRIAL, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INFRASTRUCTURE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INFRASTRUCTURE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 10: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 11: LIST OF PARTNERSHIPS & AGREEMENTS
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR SWEDEN
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: SWEDEN HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY INSTALLATION, IN 2023
FIGURE 9: SWEDEN HIGH VOLTAGE CABLE MARKET, BY OVERHEAD, 2024-2032 (IN $ MILLION)
FIGURE 10: SWEDEN HIGH VOLTAGE CABLE MARKET, BY UNDERGROUND, 2024-2032 (IN $ MILLION)
FIGURE 11: SWEDEN HIGH VOLTAGE CABLE MARKET, BY SUBMARINE, 2024-2032 (IN $ MILLION)
FIGURE 12: SWEDEN HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023
FIGURE 13: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 14: SWEDEN HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY INDUSTRIAL, IN 2023
FIGURE 15: SWEDEN HIGH VOLTAGE CABLE MARKET, BY POWER UTILITIES, 2024-2032 (IN $ MILLION)
FIGURE 16: SWEDEN HIGH VOLTAGE CABLE MARKET, BY OIL & GAS, 2024-2032 (IN $ MILLION)
FIGURE 17: SWEDEN HIGH VOLTAGE CABLE MARKET, BY MINING, 2024-2032 (IN $ MILLION)
FIGURE 18: SWEDEN HIGH VOLTAGE CABLE MARKET, BY CHEMICAL & PETROCHEMICAL, 2024-2032 (IN $ MILLION)
FIGURE 19: SWEDEN HIGH VOLTAGE CABLE MARKET, BY OTHER INDUSTRIAL END-USERS, 2024-2032 (IN $ MILLION)
FIGURE 20: SWEDEN HIGH VOLTAGE CABLE MARKET, BY RENEWABLE ENERGY, 2024-2032 (IN $ MILLION)
FIGURE 21: SWEDEN HIGH VOLTAGE CABLE MARKET, BY INFRASTRUCTURE, 2024-2032 (IN $ MILLION)
FIGURE 22: SWEDEN HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY INFRASTRUCTURE, IN 2023
FIGURE 23: SWEDEN HIGH VOLTAGE CABLE MARKET, BY COMMERCIAL, 2024-2032 (IN $ MILLION)
FIGURE 24: SWEDEN HIGH VOLTAGE CABLE MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)
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