High Voltage Cable Market Set to Exceed $23.4 Billion by 2027 with 6.0% CAGR Growth

⚡ Global High Voltage Cable Market Soars on Industrialization and Smart Grid Investments

WILMINGTON, DE, UNITED STATES, August 4, 2025 /EINPresswire.com/ --

The high voltage cable market is witnessing significant growth, driven by rising energy demands, expanding urban infrastructure, and a global push toward renewable energy integration. According to a recent report published by Allied Market Research, the global high voltage cable market size was valued at $14.6 billion in 2019 and is projected to reach $23.4 billion by 2027, growing at a CAGR of 6.0% from 2020 to 2027.

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🌱 Rising Demand from Renewable Energy and Infrastructure

High voltage cables (HVCs) are essential for efficiently transferring electricity across long distances—from power plants to substations or directly to industries. This market is being increasingly shaped by rapid industrialization and urbanization, especially in developing regions like China, India, and Southeast Asia. These regions are witnessing rising energy consumption due to growing populations and the expansion of manufacturing hubs.

In particular, the global shift toward renewable energy projects such as solar and wind power is playing a crucial role. As these energy sources are often located in remote or offshore locations, the demand for high voltage submarine and underground cables has surged. This trend is further supported by government-backed initiatives for clean energy transitions and improved grid reliability.

⚙️ Market Segmentation: Underground and Submarine Lead the Way

Based on installation type, the market is segmented into:

Overhead

Underground

Submarine

In 2019, underground and submarine cables together accounted for 89.7% of the total high voltage cable market share, with underground cables leading at 51.5%. This dominance is expected to continue, with submarine and underground cables projected to grow at CAGRs of 7.3% and 5.5% respectively during the forecast period.

The growing adoption of underground and submarine installations is due to their suitability in urban environments, where space is limited and aesthetic or safety concerns make overhead cables less viable. Additionally, submarine cables are crucial for offshore wind farms and intercontinental power transmission.

🏭 End-Use Sectors: Industry and Renewable Energy Dominate

The high voltage cable market is categorized by end user into:

Industrial

Renewable Energy

Infrastructure

In 2019, the industrial and renewable energy segments collectively held 84.6% of the market share, with the industrial sector alone accounting for 43.4%. These two sectors are anticipated to drive future demand due to increased electrification, automation, and the construction of green energy plants.

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The infrastructure segment, backed by rapid urban development and smart city projects, is expected to witness the fastest growth, with a CAGR of 7.9%. Additionally, the renewable energy segment is projected to grow at 6.9%, underlining the critical role high voltage cables play in the energy transition.

🌏 Regional Outlook: Asia-Pacific Leads, LAMEA Emerges

Regionally, the high voltage cable market is segmented into:

North America

Europe

Asia-Pacific

LAMEA (Latin America, Middle East, and Africa)

Asia-Pacific held the largest market share (43.7%) in 2019, thanks to massive infrastructure projects and expanding manufacturing bases in China, India, and Japan. The region is expected to continue leading, supported by both domestic energy demand and international grid connection projects.

LAMEA is also showing strong potential with a CAGR of 7.4%, driven by increasing investments in power infrastructure, especially in the Middle East and Africa, where electrification initiatives are underway to expand access to energy.

💼 Competitive Landscape: Top Players Dominate

The global high voltage cable market is moderately concentrated, with top five players holding 60% of the total market share. Leading players include:

Prysmian Group – Dominated the market in 2015 with 25% share

ABB Group – Held 22% of the total market capital

Nexans

NKT Cables

General Cable Technologies Corporation

These companies are actively pursuing strategies such as product launches, mergers, partnerships, and global expansions to enhance their market positioning. Investments in R&D and the development of eco-friendly cable technologies are also gaining traction.

🔍 Challenges and Opportunities

One of the key challenges faced by the high voltage cable market is the volatility in the prices of raw materials, particularly copper and aluminum. These metals are crucial in cable manufacturing, and price fluctuations can impact overall production costs and profitability.

However, the market holds vast opportunities in the form of:

Smart grid integration across developed and developing nations

Offshore wind farm installations requiring submarine cable infrastructure

Public-private partnerships in upgrading power transmission systems

Advanced cable technologies with higher efficiency and environmental compliance

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📈 Outlook: A Strong Future for High Voltage Cable Market

With global energy demand on the rise and the transition toward greener, smarter grids, the high voltage cable market is poised for robust growth. From underground city cables to offshore wind farm connectors, HVCs are the backbone of future energy systems. Governments, industries, and utilities are investing heavily in infrastructure that depends on efficient and reliable power transmission—making high voltage cables an indispensable part of the global energy landscape.

Queries:-

Q1. What will be high voltage cables market growth in 2027?

The global high voltage cable market is projected to reach $23.4 billion by 2027, registering a CAGR of 6.0%.

Q2. Which market holds the maximum market share of the high voltage cable market?

Among the three types of cable, the underground HVC segment holds significant share in the global high voltage cable market, owing to its high accuracy in terms of power loss as compared to overhead cables.

Q3. How can I get report sample of high voltage cables market?

To get latest version of high voltage cable market report can be obtained on demand from the website.

Q4. What are the key trends in the high voltage cable market?

The market is driven by the industrialization and urbanization in developing countries such as China, Japan, and India. An increased number of renewable energy projects, such as wind and solar power plants, have also supplemented the growth of the HVC market.

Q5. What is the market size of the high voltage cable market?

The global high voltage cables market was valued at $14.6 billion in 2019.

Q6. How can I get statistical data of top market players of high voltage cable market?

The top ten market players are selected based on two key attributes - competitive strength and market positioning

Q7. How the company profile has been selected?

The company profiles are analyzed by performing a thorough study of the leading players in the high voltage cable market. Comprehensive analysis of recent developments and growth curves of various companies help to understand the growth strategies adopted by them and their potential effect on the market.

Q8. What is the global high voltage cable market effecting factors?

One of the restraints associated with the HVC market is the volatile pricing of metals such as copper and aluminum. However, growth in investment for smart grid technology and increase in the number of offshore power projects in developing countries are expected to create numerous opportunities for the growth of the HVC market.

Q9. What are the key growth strategies of high voltage cable industry players?

The strategies such as expansion, product launch, acquisition, partnership & collaboration, and agreement are prominently adopted by leading companies in an effort to expand their product offerings.

Q10. What are the applications of high voltage cable market?

High Voltage cables are used for bulk power transmission and distribution applications in various end-user industries such as mining, power utilities, and cement industries

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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