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High Voltage Cables Market Size By Voltage (< 110 kV, 110 kV - 220 kV, > 220 kV), By Current (HVAC, HVDC), By Installation (Overhead Lines, Submarine, Underground) & Global Forecast, 2022 - 2030

  • Report ID: GMI3376
  • Published Date: Nov 2022
  • Report Format: PDF

High Voltage Cables Market Size

High Voltage Cables Market size exceeded USD 19 billion in 2021 and is anticipated to expand at more than 4.5% CAGR from 2022 to 2030. Stringent energy-efficiency norms across major world economies focused on minimizing energy consumption & GHG emissions are likely to bolster the demand for high-voltage cables. The consistent growth in the world population and the rapid pace of urbanization and industrial development globally has dramatically surged the demand for electricity.

High Voltage Cables Market

On the other hand, conventional energy sources have witnessed a significant decline over recent years. These factors, in tandem, have raised concerns about maintaining an adequate energy supply across various regions and encouraged regulatory authorities to bring about necessary reforms to improve energy efficiency. For instance, The Energy Policy and Conservation Act allows the US Department of Energy to execute appliance and equipment standards. The Department’s Office of Enforcement demonstrates whether products sold in the country meet energy and water conservation standards.

Heavy excise duties to merge as a growth-restricting factor

A dramatic rise in demand for transmission infrastructure expansion and upgradation has resulted in exponential growth in imports across both developed and developing economies. This is expected to emerge as a growth restraining factor. Besides, heavy import duties imposed on the procurement of raw materials by regulatory bodies coupled with the sluggish rate of technological evolution across developing regions will impede business growth.

High Voltage Cables Market Analysis

In terms of voltage, the <110 kV high voltage cables market is slated to depict around 14% growth rate between 2022 and 2030. 110kV voltage cables can operate under extreme conditions and have flexible product configurations and aesthetic proximity, fostering product installation under the <110kV category. The rising product deployment in small-scale industrial refurbishment projects and large-scale commercial expansion will spur segment expansion.

High Voltage Cables Market Share, By Current

Based on the current, the HVAC segment held over 59% of the high voltage cables market share in 2021. The rising focus on developing an improved electric infrastructure and the growing investments in building efficient electric networks will push the adoption of HVAC cables. Besides, the synchronous mandates and reforms aimed at enhancing the overall performance and ampacity of power transmission.

Regarding installation, the submarine segment is predicted to observe nearly 20% gains till 2030. The ever-growing demand for sustainable energy sources and the increasing investments focused on the commissioning of offshore wind farms will propel segment revenues during the assessment timeframe. Governments across several economies have been rolling out favorable policies promoting the deployment of high & ultra-high transmission lines.

High Voltage Cables Market Share, By Region

Europe high voltage cables industry is poised to exhibit more than 3% CAGR through 2030. The increasing inclination toward clean and sustainable energy sources and an increased emphasis on mitigating GHG emissions and employing energy-efficient technologies will foster the regional landscape. A supportive regulatory framework toward offshore wind technology and stringent emission mandates in the region will fuel product deployment across region. 

High Voltage Cables Market Share

Major companies participating in the high voltage cables market include:

  • Prysmian Group
  • Elsewedy Electric
  • Ducab
  • Power Plus Cables Co L.L.C
  • Sumitomo Electric Industries Ltd
  • Nexans
  • Riyadh Cable
  • Brugg Kabel AG
  • alfanar Group
  • Jeddah Cables
  • ZTT
  •  NKT A/S
  • Southwire Company LLC
  • Cablel TF Kable
  • Tratos
  • Hitachi Energy Ltd
  • Mitsubishi Electric Corporation
  • Gupta Power
  • ZMS Cable
  • Taihan Cable & Solution Co Ltd 
  • LS Cable & System Ltd
  • Siemens Energy.

These enterprises have been focusing on making hefty investments and introducing advanced technologies and transmission projects to gain a competitive edge over the others. For instance, in August 2022, Prysmian Group gained a technological achievement in the department of Power Grids. The organization announced its testing & development of extruded submarine cable system with a voltage capacity of 525 kV. The system will be utilized in various applications across the High Voltage Direct Current (HVDC) industry. The technological advancements will facilitate the transmission capability of bi-pole structures up to more than 2.5 GW.

Impact of COVID-19 Pandemic

The imposition of stringent lockdown measures during the COVID-19 pandemic resulting in the closure of major factories and manufacturing facilities caused a massive drop in demand for energy during the first half of 2020. This shift in demand made it difficult to manage energy generation, specifically electricity production and delivery, hampering the industry growth. However, with the implementation of reliable business models and resumed operations across the industrial and commercial sectors, the industry witnessed an appreciable rise in revenues.

The high voltage cables market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD” from 2018 to 2030, for the following segments:

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Market Insights, By Voltage

  • < 110 kV
  • 110 kV - 220 kV
  • > 220 kV

Market Insights, By Current

  • HVAC
  • HVDC

Market Insights, By Installation

  • Overhead lines
  • Submarine
  • Underground

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Italy
    • Spain
    • Netherlands
    • UK
  • Asia Pacific
    • China
    • Japan
    • India
    • Thailand
    • Indonesia
  • Rest of World
    • Brazil
    • Oman
    • South Africa
    • Chile
    • Morocco
    • Saudi Arabia


Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of high voltage cables crossed USD 19 billion in 2021 and is slated to depict over 4.5% gains between 2022 and 2030 owing to the stringent regulatory mandates pertaining to maintaining an energy-efficient infrastructure.

The HVAC segment accounted more than 59% of the revenue share in 2021 due to an increased emphasis on improving the ampacity and performance of existing power transmission systems.

The submarine segment is anticipated to witness over 20% CAGR through 2030 driven by the rising demand for eco-friendly technologies and the rising adoption of sustainable energy sources.

Prominent enterprises operating in the high voltage cable industry include Prysmian Group, Elsewedy Electric, Ducab, Power Plus Cables Co. L.L.C., Sumitomo Electric Industries, Ltd., Nexans, Riyadh Cable, Brugg Kabel AG, alfanar Group, Jeddah Cables, ZTT, Taihan Cable & Solution Co., Ltd., LS Cable & System Ltd., and Siemens Energy and others.

High Voltage Cables Market Scope

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 25
  • Tables & Figures: 599
  • Countries covered: 18
  • Pages: 385
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