High Voltage Power Cable Market Size, Share, Opportunities, And Trends By Type (Overhead, Underground, Submarine Cable), By Voltage (Up to 50 kV, 50 to 100 kV, 100 to 150 kV, Greater than 150 kV), By Material (Cross Linked Polyethylene (XLPE), Polyvinyl Chloride (PVC), Others), By End-User Industry (Energy & Power, Industrial, Building & Construction, Others), And By Geography - Forecasts From 2025 To 2030

High Voltage Power Cable Market Size:

The high voltage power cable market will grow at a CAGR of 4.09% to reach US$51.70 billion in 2030 from US$42.31 billion in 2025.

The global market for high-voltage power cables is driven by the increasing need for efficient transmission systems coupled with government initiatives for implementing projects having grid interconnections. In 2023, the European Union announced investments in grid modernization projects, including the deployment of high-voltage power cables, to support renewable energy integration and achieve climate goals. Moreover, the growing offshore wind farms and increasing inclination towards renewable energy resources further contribute to the market growth. As of 2023, offshore wind capacity globally reached 75 GW, with China leading the installations, creating significant demand for submarine high-voltage power cables. On the contrary, factors like the requirement of various government approvals, which causes delays in power project implementation, may restrain the market growth. 

Upcoming and ongoing projects involving the use of high-voltage power cables in various end-user industries are expected to drive the market in the coming years. For instance, in February 2025, the U.K. launched the Eastern Green Link 1 project, a 525 kV high-voltage direct current (HVDC) submarine cable project, to enhance grid connectivity between Scotland and England. The adoption of smart grids in developed as well as emerging economies fulfills the need for grid interconnections and, thus, has resulted in increased investments in underground and submarine cable installations. In 2023, the U.S. Department of Energy allocated USD 3.5 billion for smart grid projects, emphasizing the deployment of high-voltage power cables to modernize the aging power infrastructure.

Investments in smart grids across countries are expected to fuel the market during the forecast period. In 2023, China announced plans to invest over USD 300 billion in smart grid infrastructure in the 14th year plan (2021 to 2025. The increasing energy demand with a growing population is one of the significant factors accelerating the adoption of smart grid technology and the need for efficient power transmission systems. According to the International Energy Agency (IEA), global electricity demand is expected to grow by 3.4% annually through 2026, driving investments in high-voltage power cables for grid expansion and modernization.

Additionally, the Asia-Pacific region is expected to dominate the high-voltage power cables market, accounting for close to 50% share of the global market in 2024, driven by rapid urbanization, industrialization, and renewable energy projects in countries like China, India, and Japan. Europe and North America are also significant markets, with increasing investments in offshore wind farms and grid interconnections. For example, Germany's SuedLink project, a 700 km HVDC cable, is set to be operational by 2026, further boosting the demand for high-voltage power cables in the region.

The high voltage power cables market report provides a detailed analysis of the industry landscape, offering strategic and executive-level insights supported by data-driven forecasts and analysis. This regularly updated report equips decision-makers with actionable intelligence on current market trends, emerging opportunities, and competitive dynamics. It explores demand across various regions and product types, such as underground, overhead, and submarine high voltage cables, while also examining purchasing behaviours and key customer segments. Additionally, the report delves into technological advancements, key government policies, regulations, and macroeconomic factors, delivering a comprehensive overview of the global high voltage power cables market.

High Voltage Power Cable Market Segmentations:

High Voltage Power Cable Market Segmentation by type:

The market analyzed by type into the following:

• Overhead
• Underground
• Submarine Cable

High Voltage Power Cable Market Segmentation by voltage:

The market analyzed by voltage into the following:

• Up to 50 kV
• 50 to 100 kV
• 100 to 150 kV
• Greater than 150 kV

High Voltage Power Cable Market Segmentation by material:

The market analyzed by material into the following:

• Cross Linked Polyethylene (XLPE)
• Polyvinyl Chloride (PVC)
• Others

High Voltage Power Cable Market Segmentation by end-user:

The market analyzed by end-user into the following:

• Energy & Power
• Industrial
• Building & Construction
• Others

High Voltage Power Cable Market Segmentation by regions:

The study also analysed the high voltage power cable market into the following regions, with country level forecasts and analysis as below:

• North America (US, Canada and Mexico)
• South America (Brazil, Argentina, and Others)
• Europe (Germany, France, United Kingdom, Spain, Italy and Others
• Middle East and Africa (Saudi Arabia, UAE and Others)
• Asia Pacific (China, India, Japan, South Korea, Taiwan, Thailand, Indonesia, and Others)

High Voltage Power Cable Market Competitive Landscape:

The high voltage power cable market features key players such as Belden Inc, Prysmian S.p.A., Nexans S.A, KEI Industries, Havells India Limited, Polycab India Limited, among others.

High Voltage Power Cable Market Report Coverage:

This report provides extensive coverage as explained in the points below:

• High voltage power cable market size, forecasts, and trends by type, with historical revenue data and analysis focusing on key factors driving adoption, current challenges faced by key players, and major growth areas.
• High voltage power cable market size, forecasts, and trends by voltage, with historical revenue data and analysis.
• High voltage power cable market size, forecasts, and trends by material, with historical revenue data and analysis.
• High voltage power cable market size, forecasts, and trends by end-user, with historical revenue data and analysis.
• The high voltage power cable market is also analysed across different regions, with historical data, regional share, attractiveness and opportunity of these solutions in different countries. The growth prospects and key players operating in these markets. The section also dwells on the macro factors, economic scenario and other complementing factors aiding in market growth. 
• Market dynamics: The section details the market growth factors, restraints, and opportunities in the market. The segment also presents complete market scenario with the help of Porter’s five forces model. 
• Competitive Intelligence: A thorough investigation on the competitive structure of the market presented through proprietary vendor matrix model, market share analysis of key players, insights on strategies of key players and recent major developments undertaken by the companies to gain competitive edge. 
• Research methodology: The assumptions and sources which were considered to arrive at the final market estimates. Additionally, how our model is refined to ensure most significant factors are taken into consideration with the proper hypothesis and bottom-up and top-down approaches enhance the reliability of forecasts further strengthening the trustworthiness of the numbers being presented. 

How this report is helpful to you and reasons for purchase?

• The report provides a strategic outlook of the high voltage power cable market to the decision-makers, analysts and other stakeholders in the easy to read format for taking informed decisions.
• The charts, tables and figures make it easy for the executives to gain valuable insights while skimming the report. 
• Analyst support through calls and email for timely clarification and incorporating additional requests. 
• Option of presentation or doc format with the estimates file to take care of diverse requirements. 
• 15% FREE customization with all our reports help cater additional requirements with significant cost-savings. 
• Option of purchasing specific segments of the study, including opting for summary reports or just the estimates file. 

High Voltage Power Cable Market Scope:

Report Metric	Details
High Voltage Power Cable Market Size in 2025	US$42.31 billion
High Voltage Power Cable Market Size in 2030	US$51.70 billion
Growth Rate	CAGR of 4.09%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Billion
Segmentation	Type Voltage Material End-User Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the High Voltage Power Cable Market	Belden Inc. Prysmian S.p.A. Nexans S.A. KEI Industries Havells India Limited
Customization Scope	Free report customization with purchase

 

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1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK

5. HIGH VOLTAGE POWER CABLE MARKET BY TYPE

5.1. Introduction

5.2. Overhead

5.3. Underground

5.4. Submarine Cable

6. HIGH VOLTAGE POWER CABLE MARKET BY VOLTAGE

6.1. Introduction

6.2. Up to 50 kV

6.3. 50 to 100 kV

6.4. 100 to 150 kV

6.5. Greater than 150 kV

7. HIGH VOLTAGE POWER CABLE MARKET BY MATERIAL TYPE

7.1. Introduction

7.2. Cross Linked Polyethylene (XLPE)

7.3. Polyvinyl Chloride (PVC)

7.4. Others

8. HIGH VOLTAGE POWER CABLE MARKET BY END-USER

8.1. Introduction

8.2. Energy & Power

8.3. Industrial

8.4. Building & Construction

8.5. Others

9. HIGH VOLTAGE POWER CABLE MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. USA

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. Germany

9.4.2. France

9.4.3. United Kingdom

9.4.4. Spain

9.4.5. Italy

9.4.6. Others

9.5. Middle East and Africa

9.5.1. Saudi Arabia

9.5.2. UAE

9.5.3. Others

9.6. Asia Pacific

9.6.1. China

9.6.2. India

9.6.3. Japan

9.6.4. South Korea

9.6.5. Taiwan

9.6.6. Thailand

9.6.7. Indosneisa

9.6.8. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. Belden Inc

11.2. Prysmian S.p.A.

11.3. Nexans S.A

11.4. KEI Industries

11.5. Havells India Limited

11.6. Polycab India Limited

12. APPENDIX

12.1. Currency 

12.2. Assumptions

12.3. Base and Forecast Years Timeline

12.4. Key benefits for the stakeholders

12.5. Research Methodology 

12.6. Abbreviations 

LIST OF FIGURES

LIST OF TABLES

Belden Inc.

Prysmian S.p.A.

Nexans S.A.

KEI Industries

Havells India Limited

Polycab India Limited