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Report
Vietnam High Voltage Cable Market Forecast 2024-2032
Market Report I 2024-07-16 I 155 Pages I Inkwood Research
KEY FINDINGS
The Vietnam high voltage cable market is estimated to rise with a 6.56% CAGR by 2032, and is predicted to reach a revenue of $1564.95 million during the forecasting years 2024 and 2032.
MARKET INSIGHTS
Vietnam's high voltage cable (HVC) market is experiencing robust demand driven by the country's escalating energy needs. With the country's economy expanding steadily, there has been a notable surge in electricity consumption, as well. According to Vietnam Energy Information, from 2010 to 2020, Vietnam experienced a rapid annual increase in total energy consumption, averaging 5.2%. However, in 2021, due to the impact of the COVID-19 pandemic, energy consumption decreased by 2%, and by 2022, there was a rebound with a 4.5% increase. This growth underscores a sustained demand for reliable infrastructure, including high voltage cables, to support the nation's burgeoning industrial and residential sectors.
Private equity investors are increasingly engaging with Vietnam's renewable energy landscape, seeking opportunities beyond traditional coal and hydropower sources. In recent years, renewable energy has emerged as a pivotal sector for investment, ranking third after fintech and education in terms of investor interest. This shift is part of the nation's broader strategy to diversify its energy mix and attract private capital to develop alternative energy sources such as wind and solar power. The involvement of entities like the World Bank Group, which has invested $75 million in green bonds aimed at funding renewable projects in Vietnam, highlights the growing momentum toward sustainable energy solutions in the country.
Despite these positive developments, challenges persist in Vietnam's renewable energy sector, particularly concerning the bankability of power purchase agreements (PPAs). Current PPA terms present significant risks to project developers, limiting their ability to secure financing, especially from international sources. This approach complicates the financial viability of renewable energy projects, highlighting the need for regulatory reforms and improved framework conditions to foster a more conducive investment environment. As Vietnam continues to navigate its energy transition, these factors will remain crucial in influencing the country's HVC market growth during the forecast period.
SEGMENTATION ANALYSIS
The Vietnam high voltage cable market evaluation includes segmentation by end-user and installation. The installation segment includes industrial, renewable energy, and infrastructure.
High voltage cables play a critical role in industrial settings where large machines require substantial voltage and current for operation. These cables facilitate electric power transmission and distribution from main grids to substations within industries. Typically, underground and overhead cables are deployed across sectors like mining & metals, power utilities, manufacturing, and others such as paper & pulp, wastewater treatment, and cement industries. In contrast, submarine cables are utilized in oil & gas industries, essential for operations within oceanic or river basin environments.
The industrialization surge in developing regions significantly propels the high voltage cable market. This growth is further bolstered by government initiatives, particularly investments in power utilities, which stimulate demand. As electrification needs escalate, the establishment of more power utilities becomes pivotal, acting as a driving force for market expansion. This trend not only addresses current demand but also sets the stage for increased opportunities in the high voltage cable sector across these rapidly industrializing regions.
COMPETITIVE INSIGHTS
Key players operating in the Vietnam high voltage cable market are Furukawa Electric Co Ltd, Siemens AG, Hitachi Ltd, etc.
Furukawa Electric Co Ltd manufactures and sells automobiles, electronics, construction, telecommunication, and energy products. Its key solutions include electricals, electronics parts materials, power cables, wiring materials, conductors, optical components, connectors, fluorescent lamps, and LED reflectors. The company is headquartered in Tokyo, Japan, and operates across the Asia-Pacific, Europe, and North America.
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 VIETNAM 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 VIETNAM
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. FURUKAWA ELECTRIC CO LTD
7.2.1.1. COMPANY OVERVIEW
7.2.1.2. PRODUCT PORTFOLIO
7.2.1.3. STRENGTHS & CHALLENGES
7.2.2. HITACHI LTD
7.2.2.1. COMPANY OVERVIEW
7.2.2.2. PRODUCT PORTFOLIO
7.2.2.3. STRENGTHS & CHALLENGES
7.2.3. NEXANS
7.2.3.1. COMPANY OVERVIEW
7.2.3.2. PRODUCT PORTFOLIO
7.2.3.3. STRENGTHS & CHALLENGES
7.2.4. PRYSMIAN GROUP
7.2.4.1. COMPANY OVERVIEW
7.2.4.2. PRODUCT PORTFOLIO
7.2.4.3. STRENGTHS & CHALLENGES
7.2.5. SIEMENS AG
7.2.5.1. COMPANY OVERVIEW
7.2.5.2. PRODUCT PORTFOLIO
7.2.5.3. STRENGTHS & CHALLENGES
7.2.6. SUMITOMO ELECTRIC INDUSTRIES LTD
7.2.6.1. COMPANY OVERVIEW
7.2.6.2. PRODUCT PORTFOLIO
7.2.6.3. STRENGTHS & CHALLENGES
7.2.7. TBEA CO LTD
7.2.7.1. COMPANY OVERVIEW
7.2.7.2. PRODUCT PORTFOLIO
7.2.7.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - HIGH VOLTAGE CABLE
TABLE 2: VIETNAM HIGH VOLTAGE CABLE MARKET, BY INSTALLATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: VIETNAM HIGH VOLTAGE CABLE MARKET, BY INSTALLATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: VIETNAM HIGH VOLTAGE CABLE MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: VIETNAM HIGH VOLTAGE CABLE MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: VIETNAM HIGH VOLTAGE CABLE MARKET, BY INDUSTRIAL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: VIETNAM HIGH VOLTAGE CABLE MARKET, BY INDUSTRIAL, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: VIETNAM HIGH VOLTAGE CABLE MARKET, BY INFRASTRUCTURE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: VIETNAM 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 VIETNAM
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: VIETNAM HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY INSTALLATION, IN 2023
FIGURE 9: VIETNAM HIGH VOLTAGE CABLE MARKET, BY OVERHEAD, 2024-2032 (IN $ MILLION)
FIGURE 10: VIETNAM HIGH VOLTAGE CABLE MARKET, BY UNDERGROUND, 2024-2032 (IN $ MILLION)
FIGURE 11: VIETNAM HIGH VOLTAGE CABLE MARKET, BY SUBMARINE, 2024-2032 (IN $ MILLION)
FIGURE 12: VIETNAM HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023
FIGURE 13: VIETNAM HIGH VOLTAGE CABLE MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 14: VIETNAM HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY INDUSTRIAL, IN 2023
FIGURE 15: VIETNAM HIGH VOLTAGE CABLE MARKET, BY POWER UTILITIES, 2024-2032 (IN $ MILLION)
FIGURE 16: VIETNAM HIGH VOLTAGE CABLE MARKET, BY OIL & GAS, 2024-2032 (IN $ MILLION)
FIGURE 17: VIETNAM HIGH VOLTAGE CABLE MARKET, BY MINING, 2024-2032 (IN $ MILLION)
FIGURE 18: VIETNAM HIGH VOLTAGE CABLE MARKET, BY CHEMICAL & PETROCHEMICAL, 2024-2032 (IN $ MILLION)
FIGURE 19: VIETNAM HIGH VOLTAGE CABLE MARKET, BY OTHER INDUSTRIAL END-USERS, 2024-2032 (IN $ MILLION)
FIGURE 20: VIETNAM HIGH VOLTAGE CABLE MARKET, BY RENEWABLE ENERGY, 2024-2032 (IN $ MILLION)
FIGURE 21: VIETNAM HIGH VOLTAGE CABLE MARKET, BY INFRASTRUCTURE, 2024-2032 (IN $ MILLION)
FIGURE 22: VIETNAM HIGH VOLTAGE CABLE MARKET, GROWTH POTENTIAL, BY INFRASTRUCTURE, IN 2023
FIGURE 23: VIETNAM HIGH VOLTAGE CABLE MARKET, BY COMMERCIAL, 2024-2032 (IN $ MILLION)
FIGURE 24: VIETNAM HIGH VOLTAGE CABLE MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)
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