High Voltage Cable Market Share, Size and Analysis 2034
Global High Voltage Cable Market Growth, Size, Trends Analysis - By Voltage, By Current, By Installation - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: POAE25109 | Pages: 1 - 259 | Formats*: |
| Category : Power & Energy | |||
Global High Voltage Cable Market Introduction and Overview
According to SPER Market Research, the Global High Voltage Cable Market is estimated to reach USD 90.16 billion by 2034 with a CAGR of 11.66%.
The report includes an in-depth analysis of the Global High Voltage Cable Market, including market size and trends, product mix, Applications, and supplier analysis. The High Voltage Cable Market was valued at USD 26.8 billion in 2024 and is expected to grow at a CAGR of 11.66% from 2025 to 2034. Continuous and exponentially increasing efforts to upgrade existing electrical infrastructure, as well as significant investments in grid network construction around the world, are the key factors driving overall market growth. This trend is accelerated by developing countries, where a lack of effective electrical infrastructure forces the development of existing grid networks.
By Voltage Insights
The high voltage cable market is divided into three segments: less than 110 kV, 110-220 kV, and more than 220 kV. Cables with voltages below 110 kV are commonly utilised in urban networks and renewable energy integration, with demand driven by urban expansion and power distribution requirements. The 110-220 kV sector facilitates regional transmission and is bolstered by grid modernisation and interconnection initiatives. Cables rated above 220 kV are likely to be in high demand due to increased investment in international interconnects that support the renewable energy transition. These divisions represent a rising global emphasis on developing dependable, efficient, and sustainable electricity infrastructure.
By Current Insights
The high voltage cable market is segmented into HVAC and HVDC systems, with HVDC gaining significant traction due to its efficiency in long-distance power transmission. HVDC technology supports the use of continuous, high-capacity conductors and offers minimal power losses, making it ideal for large-scale energy projects. This segment is also increasingly preferred for cost-effective solutions in scenarios like long-distance transmission and managing peak power demand. Ongoing investments in HVDC installations are driving the expansion of offshore energy projects. These developments are crucial for integrating renewable energy into the grid and advancing the overall infrastructure of modern power systems.
Regional Insights
Asia Pacific now retains the largest market share for high voltage cables. The growing population has undoubtedly raised power demand, contributing to the region's growth. Urbanisation in the region has resulted in the creation of additional grids. Technological improvements in the region, as well as rural electrification rollouts by various countries, have all contributed to the expansion of the high voltage cables market. Aside from China, the region's major countries include India, Japan, Australia, and Southeast Asian countries.
Market Competitive Landscape
The High Voltage Cable Market is dominated by established players such as Nexans, Prysmian Group, NKT, LS Cable, and Sumitomo Electric, as well as a number of small and medium-sized companies. Their industry leadership is based on a combination of elements such as brand reputation, technological developments, proven product reliability, and constant high levels of customer satisfaction achieved through contracts and collaborations. These distinguish them as the chosen HV cable manufacturers and suppliers, while also allowing them to maintain their market competitiveness.
Recent Developments:
In February 2025, the Ministry of Ecological Integration of Spain, in collaboration with Red Eléctrica, announced the completion of a project to install energy storage batteries in Sant Antoni. The goal of this project is to improve the functioning of the underwater cable that connects Ibiza to Mallorca and the rest of the country, allowing for more efficient use of the link capacity and increasing supply reliability.
In September 2024, Greece and Cyprus held talks to finalise the Great Sea Interconnector project. The goal of this new project is to connect Greece, Cyprus, and eventually Israel via a high voltage direct current (HVDC) energy cable system. This is expected to cost more than USD 2.4 billion and will include a 1,240-kilometer-long subsea cable. This development will improve energy security and the efficiency of transporting renewable energy to the region.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | ByVoltage, By Current, By Installation |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | Alfanar Group, Brugg Kabel, Ducab, Elsewedy Electric, Furukawa Electric,Gupta Power, Iljin Electric, Jeddah Cables, LS Cable & System, MitsubishiElectric |
Key Topics Covered in the Report
- Global High Voltage Cable Market Size (FY’2021-FY’2034)
- Overview of Global High Voltage Cable Market
- Segmentation of Global High Voltage Cable Market by Voltage (110 kV, 110 kV - 220 kV, > 220 kV)
- Segmentation of Global High Voltage Cable Market by Current (HVAC, HVDC)
- Segmentation of Global High Voltage Cable Market by Installation (Overhead, Submarine, Underground)
- Statistical Snap of Global High Voltage Cable Market
- Expansion Analysis of Global High Voltage Cable Market
- Problems and Obstacles in Global High Voltage Cable Market
- Competitive Landscape in the Global High Voltage Cable Market
- Details on Current Investment in Global High Voltage Cable Market
- Competitive Analysis of Global High Voltage Cable Market
- Prominent Players in the Global High Voltage Cable Market
- SWOT Analysis of Global High Voltage Cable Market
- Global High Voltage Cable Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source
2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPERs internal database2.1.4.Premium insight from KOLs
2.2.Market size estimation
2.2.1.Top-down and Bottom-up approach
2.3.Data triangulation
3.Executive Summary
4.Market Dynamics
4.1.Driver, Restraint, Opportunity and Challenges analysis
4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis
5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats
5.2.PESTEL Analysis
5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape
5.3.PORTERs Five Forces
5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry
5.4.Heat Map Analysis
6.Competitive Landscape
6.1.Global High Voltage Cable Market Manufacturing Base Distribution, Sales Area, Product Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global High Voltage Cable Market
7.Global High Voltage Cable Market, By Voltage (USD Million) 2021-2034
7.1.110 kV7.2.110 kV - 220 kV7.3.> 220 kV
8.Global High Voltage Cable Market, By Current (USD Million) 2021-2034
8.1.HVAC8.2.HVDC
9.Global High Voltage Cable Market, By Installation (USD Million) 2021-2034
9.1.Overhead9.2.Submarine9.3.Underground
10.Global High Voltage Cable Market, (USD Million) 2021-2034
10.1.Global High Voltage Cable Market Size and Market Share
11.Global High Voltage Cable Market, By Region, (USD Million) 2021-2034
11.1.Asia-Pacific
11.1.1.Australia11.1.2.China11.1.3.India11.1.4.Japan11.1.5.South Korea11.1.6.Rest of Asia-Pacific
11.2.Europe
11.2.1.France11.2.2.Germany11.2.3.Italy11.2.4.Spain11.2.5.United Kingdom11.2.6.Rest of Europe
11.3.Middle East and Africa
11.3.1.Kingdom of Saudi Arabia11.3.2.United Arab Emirates11.3.3.Qatar11.3.4.South Africa11.3.5.Egypt11.3.6.Morocco11.3.7.Nigeria11.3.8.Rest of Middle-East and Africa
11.4.North America
11.4.1.Canada11.4.2.Mexico11.4.3.United States
11.5.Latin America
11.5.1.Argentina11.5.2.Brazil11.5.3.Rest of Latin America
12.Company Profile
12.1.alfanar Group
12.1.1.Company details12.1.2.Financial outlook12.1.3.Product summary12.1.4.Recent developments
12.2.Brugg Kabel
12.2.1.Company details12.2.2.Financial outlook12.2.3.Product summary12.2.4.Recent developments
12.3.Ducab
12.3.1.Company details12.3.2.Financial outlook12.3.3.Product summary12.3.4.Recent developments
12.4.Elsewedy Electric
12.4.1.Company details12.4.2.Financial outlook12.4.3.Product summary12.4.4.Recent developments
12.5.Furukawa Electric
12.5.1.Company details12.5.2.Financial outlook12.5.3.Product summary12.5.4.Recent developments
12.6.Gupta Power
12.6.1.Company details12.6.2.Financial outlook12.6.3.Product summary12.6.4.Recent developments
12.7.Iljin Electric
12.7.1.Company details12.7.2.Financial outlook12.7.3.Product summary12.7.4.Recent developments
12.8.Jeddah Cables
12.8.1.Company details12.8.2.Financial outlook12.8.3.Product summary12.8.4.Recent developments
12.9.LS Cable & System
12.9.1.Company details12.9.2.Financial outlook12.9.3.Product summary12.9.4.Recent developments
12.10.Mitsubishi Electric
12.10.1.Company details12.10.2.Financial outlook12.10.3.Product summary12.10.4.Recent developments
12.11.Others
13.Conclusion
14.List of Abbreviations
15.Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Alfanar Group, Brugg Kabel, Ducab, Elsewedy Electric, Furukawa Electric, Gupta Power, Iljin Electric, Jeddah Cables, LS Cable & System, Mitsubishi Electric
The report includes an in-depth analysis of the Global High Voltage Cable Market, including market size and trends, product mix, Applications, and supplier analysis.
High Voltage Cable Market is projected to reach USD 90.16 billion by 2034, growing at a CAGR of 11.66% during the forecast period.
High Voltage Cable Market size from 2025. The Market is expected to reach USD 90.16 billion by 2034, at a CAGR of 11.66% during the forecast period.
High Voltage Cable Market CAGR of 11.66% during the forecast period.
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High Voltage Cable Market size is USD 90.16 billion from 2025 to 2034.
High Voltage Cable Market covered By Voltage, By Current, By Installation
The North America is anticipated to have the highest Market share in the High Voltage Cable Market.
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