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Underground High Voltage Cable Market Decade Long Trends, Analysis and Forecast 2025-2033
Underground High Voltage Cable Market by Voltage (< 110 kV, 110 kV - 220 kV, > 220 kV), by Current (HVAC, HVDC), by North America (U.S., Canada), by Europe (Germany, UK), by Asia Pacific (China, India, Thailand, Indonesia, Rest of World) Forecast 2025-2033
Underground High Voltage Cable Market Decade Long Trends, Analysis and Forecast 2025-2033
Key Insights
The size of the Underground High Voltage Cable Market market was valued at USD 28.6 Billion in 2023 and is projected to reach USD 42.44 Billion by 2032, with an expected CAGR of 5.8% during the forecast period. Key factors driving this growth include increasing demand for electricity, urbanization, and stringent regulations for overhead transmission lines. Underground HV cables offer several advantages over overhead lines, such as improved reliability, reduced visual impact, and increased safety. The underground high voltage cable market specializes in cables that carry electricity at a high voltage level through underground systems, providing an alternative to overhead power lines. These cables can be used for applications such as urban areas, where space may be limited or aesthetics may not allow overhead installation, industrial zones, renewable energy transmission, and submarine power transmission for connecting offshore wind farms. Underground cables have many benefits such as being more reliable with lower electromagnetic interference and being stronger against weather disturbances. Key market participants in this arena are Prysmian Group, Nexans, General Cable, NKT Cables, Southwire Company, Sumitomo Electric Industries, ABB Ltd, and LS Cable & System, among others. They're innovating the products, which comprise XLPE insulation, superconducting cables, and jointing systems that deliver greater efficiency and durability with friendly environmental aspects. With increasing investments in grid modernization and renewable energy integration, underground high voltage cable is critical to building robust and sustainable energy infrastructure.
Underground High Voltage Cable Market Concentration & Characteristics
The Underground High Voltage Cable Market is highly concentrated, with a few major players controlling a significant market share. These players include Prysmian Group, Nexans, and NKT A/S. The market is characterized by high innovation, with continuous advances in materials and manufacturing processes.
Underground High Voltage Cable Market Trends
Key market insights include the growing adoption of HVDC cables, increasing demand for renewable energy, and advancements in smart grid technologies. HVDC cables are preferred for long-distance power transmission, while renewable energy installations require HV cables for grid integration.
Key Region or Country & Segment to Dominate the Market
Asia-Pacific is the largest market for Underground High Voltage Cables, followed by North America and Europe. The 220 kV segment is expected to dominate the market due to its widespread use in power distribution networks.
Underground High Voltage Cable Market Product Insights Report Coverage & Deliverables
The market report provides comprehensive insights into product types, applications, and end-user industries. It also analyzes market trends, competition, and growth opportunities.
Underground High Voltage Cable Market Analysis
The market size is estimated to reach $43.2 billion by 2028. Prysmian Group holds the largest market share, followed by Nexans and NKT A/S.
Underground High Voltage Cable Market Regional Insights
- North America: High demand for underground cables in urban areas and renewable energy projects
- Europe: Stringent regulations and focus on grid modernization
- Asia-Pacific: Rapid urbanization and increasing electricity consumption
Driving Forces: What's Propelling the Underground High Voltage Cable Market
- Growing demand for electricity
- Urbanization and population growth
- Stringent regulations for overhead transmission lines
- Technological advancements in HV cables
Challenges and Restraints in Underground High Voltage Cable Market
- High costs of installation and maintenance
- Environmental concerns related to trenching
- Technical challenges in manufacturing and installation
Emerging Trends in Underground High Voltage Cable Market
- Adoption of HVDC cables for long-distance power transmission
- Increasing demand for renewable energy
- Advancements in smart grid technologies
Underground High Voltage Cable Industry News
- Sumitomo Electric acquires Südkabel and invests in high-voltage submarine cable factory in the UK.
- ILJIN ELECTRIC secures $36 million contract for HV underground cable project in Malaysia.
Leading Players in the Underground High Voltage Cable Market
- Alfanar Group
- Brugg Kabel AG
- Ducab
- Power Plus Cables Co. L.L.C.
- FURUKAWA ELECTRIC CO., LTD.
- Hellenic Cables
- ILJIN ELECTRIC
- Jeddah Cables
- LS Cable & System Ltd.
- Nexans
- NKT A/S
- Prysmian Group
- Riyadh Cable
- Southwire Company, LLC
- Sumitomo Electric Industries, Ltd.
- Taihan Cable & Solution Co., Ltd.
- TF Kable
- Tratos
- ZTT
Underground High Voltage Cable Market Segmentation
- 1. Voltage
- 1.1. < 110 kV
- 1.2. 110 kV - 220 kV
- 1.3. > 220 kV
- 2. Current
- 2.1. HVAC
- 2.2. HVDC
Underground High Voltage Cable Market Segmentation By Geography
- 1. North America
- 1.1. U.S.
- 1.2. Canada
- 2. Europe
- 2.1. Germany
- 2.2. UK
- 3. Asia Pacific
- 3.1. China
- 3.2. India
- 3.3. Thailand
- 3.4. Indonesia
- 3.5. Rest of World
Underground High Voltage Cable Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 5.8% from 2019-2033 |
| Segmentation |
|
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Growing demand for electricity Urbanization and population growth Stringent regulations for overhead transmission lines Technological advancements in HV cables
- 3.3. Market Restrains
- 3.3.1. High costs of installation and maintenance Environmental concerns related to trenching Technical challenges in manufacturing and installation
- 3.4. Market Trends
- 3.4.1. Adoption of HVDC cables for long-distance power transmission Increasing demand for renewable energy Advancements in smart grid technologies
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Underground High Voltage Cable Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Voltage
- 5.1.1. < 110 kV
- 5.1.2. 110 kV - 220 kV
- 5.1.3. > 220 kV
- 5.2. Market Analysis, Insights and Forecast - by Current
- 5.2.1. HVAC
- 5.2.2. HVDC
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.1. Market Analysis, Insights and Forecast - by Voltage
- 6. North America Underground High Voltage Cable Market Analysis, Insights and Forecast, 2019-2031
- 6.1. Market Analysis, Insights and Forecast - by Voltage
- 6.1.1. < 110 kV
- 6.1.2. 110 kV - 220 kV
- 6.1.3. > 220 kV
- 6.2. Market Analysis, Insights and Forecast - by Current
- 6.2.1. HVAC
- 6.2.2. HVDC
- 6.1. Market Analysis, Insights and Forecast - by Voltage
- 7. Europe Underground High Voltage Cable Market Analysis, Insights and Forecast, 2019-2031
- 7.1. Market Analysis, Insights and Forecast - by Voltage
- 7.1.1. < 110 kV
- 7.1.2. 110 kV - 220 kV
- 7.1.3. > 220 kV
- 7.2. Market Analysis, Insights and Forecast - by Current
- 7.2.1. HVAC
- 7.2.2. HVDC
- 7.1. Market Analysis, Insights and Forecast - by Voltage
- 8. Asia Pacific Underground High Voltage Cable Market Analysis, Insights and Forecast, 2019-2031
- 8.1. Market Analysis, Insights and Forecast - by Voltage
- 8.1.1. < 110 kV
- 8.1.2. 110 kV - 220 kV
- 8.1.3. > 220 kV
- 8.2. Market Analysis, Insights and Forecast - by Current
- 8.2.1. HVAC
- 8.2.2. HVDC
- 8.1. Market Analysis, Insights and Forecast - by Voltage
- 9. Competitive Analysis
- 9.1. Global Market Share Analysis 2024
- 9.2. Company Profiles
- 9.2.1 alfanar Group
- 9.2.1.1. Overview
- 9.2.1.2. Products
- 9.2.1.3. SWOT Analysis
- 9.2.1.4. Recent Developments
- 9.2.1.5. Financials (Based on Availability)
- 9.2.2 Brugg Kabel AG
- 9.2.2.1. Overview
- 9.2.2.2. Products
- 9.2.2.3. SWOT Analysis
- 9.2.2.4. Recent Developments
- 9.2.2.5. Financials (Based on Availability)
- 9.2.3 Ducab Power Plus Cables Co. L.L.C.
- 9.2.3.1. Overview
- 9.2.3.2. Products
- 9.2.3.3. SWOT Analysis
- 9.2.3.4. Recent Developments
- 9.2.3.5. Financials (Based on Availability)
- 9.2.4 FURUKAWA ELECTRIC CO. LTD.
- 9.2.4.1. Overview
- 9.2.4.2. Products
- 9.2.4.3. SWOT Analysis
- 9.2.4.4. Recent Developments
- 9.2.4.5. Financials (Based on Availability)
- 9.2.5 Hellenic Cables
- 9.2.5.1. Overview
- 9.2.5.2. Products
- 9.2.5.3. SWOT Analysis
- 9.2.5.4. Recent Developments
- 9.2.5.5. Financials (Based on Availability)
- 9.2.6 ILJIN ELECTRIC
- 9.2.6.1. Overview
- 9.2.6.2. Products
- 9.2.6.3. SWOT Analysis
- 9.2.6.4. Recent Developments
- 9.2.6.5. Financials (Based on Availability)
- 9.2.7 Jeddah Cables
- 9.2.7.1. Overview
- 9.2.7.2. Products
- 9.2.7.3. SWOT Analysis
- 9.2.7.4. Recent Developments
- 9.2.7.5. Financials (Based on Availability)
- 9.2.8 LS Cable & System Ltd.
- 9.2.8.1. Overview
- 9.2.8.2. Products
- 9.2.8.3. SWOT Analysis
- 9.2.8.4. Recent Developments
- 9.2.8.5. Financials (Based on Availability)
- 9.2.9 Nexans
- 9.2.9.1. Overview
- 9.2.9.2. Products
- 9.2.9.3. SWOT Analysis
- 9.2.9.4. Recent Developments
- 9.2.9.5. Financials (Based on Availability)
- 9.2.10 NKT A/S
- 9.2.10.1. Overview
- 9.2.10.2. Products
- 9.2.10.3. SWOT Analysis
- 9.2.10.4. Recent Developments
- 9.2.10.5. Financials (Based on Availability)
- 9.2.11 Prysmian Group
- 9.2.11.1. Overview
- 9.2.11.2. Products
- 9.2.11.3. SWOT Analysis
- 9.2.11.4. Recent Developments
- 9.2.11.5. Financials (Based on Availability)
- 9.2.12 Riyadh Cable
- 9.2.12.1. Overview
- 9.2.12.2. Products
- 9.2.12.3. SWOT Analysis
- 9.2.12.4. Recent Developments
- 9.2.12.5. Financials (Based on Availability)
- 9.2.13 Southwire Company LLC
- 9.2.13.1. Overview
- 9.2.13.2. Products
- 9.2.13.3. SWOT Analysis
- 9.2.13.4. Recent Developments
- 9.2.13.5. Financials (Based on Availability)
- 9.2.14 Sumitomo Electric Industries Ltd.
- 9.2.14.1. Overview
- 9.2.14.2. Products
- 9.2.14.3. SWOT Analysis
- 9.2.14.4. Recent Developments
- 9.2.14.5. Financials (Based on Availability)
- 9.2.15 Taihan Cable & Solution Co. Ltd.
- 9.2.15.1. Overview
- 9.2.15.2. Products
- 9.2.15.3. SWOT Analysis
- 9.2.15.4. Recent Developments
- 9.2.15.5. Financials (Based on Availability)
- 9.2.16 TF Kable
- 9.2.16.1. Overview
- 9.2.16.2. Products
- 9.2.16.3. SWOT Analysis
- 9.2.16.4. Recent Developments
- 9.2.16.5. Financials (Based on Availability)
- 9.2.17 Tratos
- 9.2.17.1. Overview
- 9.2.17.2. Products
- 9.2.17.3. SWOT Analysis
- 9.2.17.4. Recent Developments
- 9.2.17.5. Financials (Based on Availability)
- 9.2.18 ZTT
- 9.2.18.1. Overview
- 9.2.18.2. Products
- 9.2.18.3. SWOT Analysis
- 9.2.18.4. Recent Developments
- 9.2.18.5. Financials (Based on Availability)
- 9.2.1 alfanar Group
List of Figures
- Figure 1: Global Underground High Voltage Cable Market Revenue Breakdown (Billion, %) by Region 2024 & 2032
- Figure 2: Global Underground High Voltage Cable Market Volume Breakdown (Units, %) by Region 2024 & 2032
- Figure 3: North America Underground High Voltage Cable Market Revenue (Billion), by Voltage 2024 & 2032
- Figure 4: North America Underground High Voltage Cable Market Volume (Units), by Voltage 2024 & 2032
- Figure 5: North America Underground High Voltage Cable Market Revenue Share (%), by Voltage 2024 & 2032
- Figure 6: North America Underground High Voltage Cable Market Volume Share (%), by Voltage 2024 & 2032
- Figure 7: North America Underground High Voltage Cable Market Revenue (Billion), by Current 2024 & 2032
- Figure 8: North America Underground High Voltage Cable Market Volume (Units), by Current 2024 & 2032
- Figure 9: North America Underground High Voltage Cable Market Revenue Share (%), by Current 2024 & 2032
- Figure 10: North America Underground High Voltage Cable Market Volume Share (%), by Current 2024 & 2032
- Figure 11: North America Underground High Voltage Cable Market Revenue (Billion), by Country 2024 & 2032
- Figure 12: North America Underground High Voltage Cable Market Volume (Units), by Country 2024 & 2032
- Figure 13: North America Underground High Voltage Cable Market Revenue Share (%), by Country 2024 & 2032
- Figure 14: North America Underground High Voltage Cable Market Volume Share (%), by Country 2024 & 2032
- Figure 15: Europe Underground High Voltage Cable Market Revenue (Billion), by Voltage 2024 & 2032
- Figure 16: Europe Underground High Voltage Cable Market Volume (Units), by Voltage 2024 & 2032
- Figure 17: Europe Underground High Voltage Cable Market Revenue Share (%), by Voltage 2024 & 2032
- Figure 18: Europe Underground High Voltage Cable Market Volume Share (%), by Voltage 2024 & 2032
- Figure 19: Europe Underground High Voltage Cable Market Revenue (Billion), by Current 2024 & 2032
- Figure 20: Europe Underground High Voltage Cable Market Volume (Units), by Current 2024 & 2032
- Figure 21: Europe Underground High Voltage Cable Market Revenue Share (%), by Current 2024 & 2032
- Figure 22: Europe Underground High Voltage Cable Market Volume Share (%), by Current 2024 & 2032
- Figure 23: Europe Underground High Voltage Cable Market Revenue (Billion), by Country 2024 & 2032
- Figure 24: Europe Underground High Voltage Cable Market Volume (Units), by Country 2024 & 2032
- Figure 25: Europe Underground High Voltage Cable Market Revenue Share (%), by Country 2024 & 2032
- Figure 26: Europe Underground High Voltage Cable Market Volume Share (%), by Country 2024 & 2032
- Figure 27: Asia Pacific Underground High Voltage Cable Market Revenue (Billion), by Voltage 2024 & 2032
- Figure 28: Asia Pacific Underground High Voltage Cable Market Volume (Units), by Voltage 2024 & 2032
- Figure 29: Asia Pacific Underground High Voltage Cable Market Revenue Share (%), by Voltage 2024 & 2032
- Figure 30: Asia Pacific Underground High Voltage Cable Market Volume Share (%), by Voltage 2024 & 2032
- Figure 31: Asia Pacific Underground High Voltage Cable Market Revenue (Billion), by Current 2024 & 2032
- Figure 32: Asia Pacific Underground High Voltage Cable Market Volume (Units), by Current 2024 & 2032
- Figure 33: Asia Pacific Underground High Voltage Cable Market Revenue Share (%), by Current 2024 & 2032
- Figure 34: Asia Pacific Underground High Voltage Cable Market Volume Share (%), by Current 2024 & 2032
- Figure 35: Asia Pacific Underground High Voltage Cable Market Revenue (Billion), by Country 2024 & 2032
- Figure 36: Asia Pacific Underground High Voltage Cable Market Volume (Units), by Country 2024 & 2032
- Figure 37: Asia Pacific Underground High Voltage Cable Market Revenue Share (%), by Country 2024 & 2032
- Figure 38: Asia Pacific Underground High Voltage Cable Market Volume Share (%), by Country 2024 & 2032
List of Tables
- Table 1: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Region 2019 & 2032
- Table 2: Global Underground High Voltage Cable Market Volume Units Forecast, by Region 2019 & 2032
- Table 3: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Voltage 2019 & 2032
- Table 4: Global Underground High Voltage Cable Market Volume Units Forecast, by Voltage 2019 & 2032
- Table 5: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Current 2019 & 2032
- Table 6: Global Underground High Voltage Cable Market Volume Units Forecast, by Current 2019 & 2032
- Table 7: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Region 2019 & 2032
- Table 8: Global Underground High Voltage Cable Market Volume Units Forecast, by Region 2019 & 2032
- Table 9: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Voltage 2019 & 2032
- Table 10: Global Underground High Voltage Cable Market Volume Units Forecast, by Voltage 2019 & 2032
- Table 11: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Current 2019 & 2032
- Table 12: Global Underground High Voltage Cable Market Volume Units Forecast, by Current 2019 & 2032
- Table 13: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Country 2019 & 2032
- Table 14: Global Underground High Voltage Cable Market Volume Units Forecast, by Country 2019 & 2032
- Table 15: U.S. Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 16: U.S. Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 17: Canada Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 18: Canada Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 19: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Voltage 2019 & 2032
- Table 20: Global Underground High Voltage Cable Market Volume Units Forecast, by Voltage 2019 & 2032
- Table 21: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Current 2019 & 2032
- Table 22: Global Underground High Voltage Cable Market Volume Units Forecast, by Current 2019 & 2032
- Table 23: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Country 2019 & 2032
- Table 24: Global Underground High Voltage Cable Market Volume Units Forecast, by Country 2019 & 2032
- Table 25: Germany Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 26: Germany Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 27: UK Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 28: UK Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 29: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Voltage 2019 & 2032
- Table 30: Global Underground High Voltage Cable Market Volume Units Forecast, by Voltage 2019 & 2032
- Table 31: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Current 2019 & 2032
- Table 32: Global Underground High Voltage Cable Market Volume Units Forecast, by Current 2019 & 2032
- Table 33: Global Underground High Voltage Cable Market Revenue Billion Forecast, by Country 2019 & 2032
- Table 34: Global Underground High Voltage Cable Market Volume Units Forecast, by Country 2019 & 2032
- Table 35: China Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 36: China Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 37: India Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 38: India Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 39: Thailand Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 40: Thailand Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 41: Indonesia Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 42: Indonesia Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
- Table 43: Rest of World Underground High Voltage Cable Market Revenue (Billion) Forecast, by Application 2019 & 2032
- Table 44: Rest of World Underground High Voltage Cable Market Volume (Units) Forecast, by Application 2019 & 2032
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