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Underground High Voltage Cable Market Size - By Voltage (< 110 kV, 110 kV - 220 kV, > 220 kV), By Current (HVAC, HVDC), Regional Insights & Global Forecast, 2023 - 2032

  • Report ID: GMI5768
  • Published Date: May 2023
  • Report Format: PDF

Underground High Voltage Cable Market Size

Underground High Voltage Cable Market size exceeded USD 17.6 billion in 2022 and is set to register at a 6% CAGR from 2023 to 2032. The growing demand for refurbishment of the existing electrical infrastructure combined with increasing investments in the development of grid networks will complement the industry outlook. The lack of efficient power infrastructure across developing nations and shifting focus toward the enhancement of existing grid networks has further instituted a favorable business scenario. Economical costs, product reliability, and safe operations are some of the key parameters anticipated to boost the industry landscape.

Underground High Voltage Cable Market

The ongoing penetration of distributed generation technologies in line with offshore wind electric networks has encouraged installers in the installation of effective and reliable power supply units. The integration of export cables, aerial bunched cabling technology, and associated offshore & onshore connections have further instilled a competitive business scenario.

The installation of heavy-duty industrial machinery, followed by large-scale motor control operations will augment the demand for reliable circuitry equipment. The underground high voltage cable market has further gained momentum owing to government schemes supporting the deployment & expansion of electric grid infrastructures coupled with stand-alone microgrid projects across regions with restricted electricity access. Additionally, the expansion of electric transportation networks, process units, and special economic zones across developing nations will accelerate the product demand.

The incursion of advanced submarine & underground cable technologies has instituted a sustainable business platform. Although suppliers and manufacturers have consistently been focusing their R&D investments on the expansion and enhancement of their product portfolios, fresh funding from leading participants to incorporate a versatile technological platform has been a considerable breakthrough. In addition, favorable consumer inclination toward the deployment of the products to safeguard the living environment along with greater life expectancy of the electric infrastructure will positively sway the underground high voltage cable market outlook.

The rapid commercialization to upscale the overall economic growth, followed by foreign direct investment schemes to support industrial & commercial establishments will escalate the demand for complex and reliable grid infrastructures. Furthermore, continuous digitalization across the industrial peripheral has appreciably infused a competitive industrial scenario on account of increasing energy demand from communication base stations & data centers. The increasing adoption of advanced, reliable, energy-efficient, and secure fire-resistant electric components has instituted a favorable business scenario.

Impact Of COVID- 19 on Underground High Voltage Cable Market

Underground high voltage cables are an essential part of the energy infrastructure and are responsible for transmitting electricity from power stations to distribution networks. The pandemic has caused delays in the construction of new infrastructure, including underground high voltage cables due to supply chain disruptions, labor shortages, and other pandemic-related issues. The ongoing travel restrictions and lockdowns in many countries may also have affected the delivery of materials and equipment required for the installation of new cables. While COVID-19 has likely caused some disruptions to the installation and operation of underground high voltage cables, the specific impacts may vary depending on local circumstances and the severity of the pandemic in different regions.

Underground High Voltage Cable Market Trends

Rising world's focus on reducing carbon emissions, the demand for renewable energy sources such as wind and solar is increasing. This is leading to a growing need for underground high voltage cables to transmit power from remote locations to urban centers. In addition, factors including upgrades to existing power infrastructure to accommodate increasing energy demand and ensure a stable supply of electricity. This is driving the demand for high-quality underground high voltage cables that can handle higher voltages and provide more reliable power transmission.

The development of new materials and manufacturing techniques is leading to the creation of underground high voltage cables that are more durable, efficient, and cost-effective. However, governments across the globe are implementing policies and regulations to encourage the use of underground high voltage cables together with the replacement of overhead cables for higher electrical output & efficiency.

Underground High Voltage Cable Market Analysis

Underground High Voltage Cable Market Size, By Voltage, 2021 - 2032 (USD Billion)

Voltage rating is considered a standard industry protocol for the deployment of electrical components, depending on the application, regulatory preference, and the category of technologies to be enclosed. The ongoing expansion of transmission grid infrastructures across residential & commercial establishments has swayed the underground high voltage cable market size.

The industry has largely been influenced by various sets of regulatory mandates and guidelines, which have standardized the manufacturing and deployment trends across the globe. In recent years, grid-isolated areas have been the prime focus for regulators and installers as these pose a significant potential for market expansion and business growth. Furthermore, the growing energy demand along with a positive consumer inclination for a sustainable power network will drive the industry landscape.

The integration of renewable energy networks has enabled utilities and installers to focus on restructuring the existing electrical infrastructure. Conventional systems are being developed and enhanced, depending on the resonating frequencies and bandwidths to sustain the volatility of the renewable networks. Moreover, the growing demand for export cables, submarine cabling systems, underground lines, and onshore station connections across wind farms have complemented the business scenario.

Underground High Voltage Cable Market Revenue Share, By Current, 2022

HVDC is predicted to hold majority share of the underground high voltage cable market in the near future and is poised to grow at over 6.8% gains through 2032 on account of higher conductor adoption and limited losses at high transmission when compared to AC cables. Similarly, the installation cost of HVAC cables increases with increasing distance, therefore, HVDC transmission is used for transmission over long distances between two points, directly contributing to the HVDC industry.

Ability of the HVDC cables to be deployed underground over long distances in a comparative much narrower right of way than compared to conventional overhead is further estimated to stimulate the underground high voltage cable market growth. lower losses, better controllability, effective asynchronous interconnection, and negligible short-circuit current pose an immense potential for HVDC installations across the industry. In addition, continuous accumulation of energy to the grid system from widely dispersed renewable generation sources which are often far from traditional baseloads plants, primarily offshore is said to increase the adoption of HVDC cables.

Asia Pacific Underground High Voltage Cable Market, 2021 - 2032 (USD Billion)

The rising demand for reliable and uninterrupted power supply coupled with increasing measures toward the electrification of remote locations will propel the Asia Pacific market growth. Emerging economies consisting of China & India will result in regional growth owing to increasing investments in upgrading & expansion of electric infrastructure and power capacities. Changing power consumption patterns in corporations and households will further underground high voltage cable market growth. The rising concerns about reliability and grid safety will significantly enhance the product demand.

Electric power T&D infrastructure in the U.S. is inclined toward requirement of expansion and upgradation of transmission links across the region. Growing peak load demand and aging power equipment will focus leading manufacturers to install technological advanced product for better power stability and efficiency. Additionally, growing concerns toward grid safety, reliability and security have significantly enhanced the upcoming projects across the region.

Rising intra-regional agreements & contracts concerning power surplus & deficit countries to fulfill the rising demand for electricity will favor the industry growth rest of the world over the coming period. Modernization & upgradation of existing electricity transmission network and expansion of smart grid infrastructure will further complement the industry scenario.

Underground High Voltage Cable Market Share

Major manufacturers operating across the underground high voltage cable market are focusing on transmission projects to gain a competitive edge over the others. Introduction of enhanced technologies and advance technological components by the eminent players has led to the positive business dynamics. Prominent industries players are

  • Prysmian Group
  • 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
  • Hellenic Cables
  • TF Kable
  • Tratos
  • Taihan Cable & Solution Co., Ltd.
  • LS Cable & System Ltd.

Underground High Voltage Cable Market News

  • In January 2022, Egytech Cables, a subsidiary of Elsewedy Electric signed a contract of worth over USD 28 million with the Public Authority for Housing Welfare in Kuwait, to facilitate power transmission for residential city of El Mutlaa. In addition, the development project will be executed on a turnkey basis in over eighteen months as per the contract. Furthermore, the company will provide its capability on the design, supply, and installation of works with regards to 132kV ground cables.
  • In August 2021, Sumitomo Electric collaborated with TEPCO Power Grid, Inc., a power transmission, distribution, and generation company, to conjointly develop a distant observing system by using G3-PLC communication. The monitoring system will remotely observe the underground power transmission lines. The communication technology G3 – PLC will be used in various applications including smart grids, grid diagnostics, HVAC applications, light solutions, railway control systems, and machine diagnostics. Similarly, the development of remotely monitoring system for underground power transmission lines.

This underground high voltage cable market research report includes in-depth coverage of the industry with estimates & forecast in terms ‘km’ & ‘USD Million’ from 2019 to 2032, for the following segments:

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By voltage

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

By current

  • HVAC
  • HVDC

The above information has been provided for the following regions across the regions.

  • North America
    • U.S.
    • Canada 
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • China
    • Japan
    • India
    • Thailand
    • Indonesia
  • Rest of World


Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of underground high voltage cable was valued at more than USD 17.6 billion in 2022 and will grow at over 6% CAGR between 2023 and 2032.

The underground HVDC cables is poised to register 6.8% CAGR from 2023 to 2032 driven by the increasing conductor adoption and relatively lower losses at high transmission as compared to AC cables.

The Asia Pacific underground high voltage cables market will exhibit robust growth over 2032 due to the increasing demand for reliable and uninterrupted power supply in the region.

Ducab, Riyadh Cable, Jeddah Cables, ZTT, Southwire Company, LLC, Hellenic Cables, TF Kable, Tratos, and ILJIN ELECTRIC are some of the major suppliers of underground high voltage cables.

Underground High Voltage Cable Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 18
  • Tables & Figures: 291
  • Countries covered: 9
  • Pages: 250
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