HV & EHV Underground Cables Market was valued at USD 13.2 Billion in 2022 and is projected to reach USD 23.6 Billion by 2030, growing at a CAGR of 7.9% from 2024 to 2030.
The HV (High Voltage) and EHV (Extra High Voltage) underground cables market was valued at approximately USD 15.2 billion in 2022, with a projected compound annual growth rate (CAGR) of 6.4% from 2023 to 2028. This growth is driven by the increasing demand for reliable and secure power transmission systems, as well as the rising investments in infrastructure development and modernization. The market is expected to reach around USD 21.8 billion by the end of the forecast period. Emerging economies, especially in Asia-Pacific, are contributing significantly to market expansion due to rapid urbanization and industrialization. Opportunities in the HV and EHV underground cables market are particularly notable in regions undergoing substantial infrastructure upgrades and those investing in renewable energy projects. The shift towards sustainable energy sources and the need for upgraded transmission networks are key factors fueling market growth. Additionally, advancements in cable technology and materials are creating new avenues for innovation and efficiency improvements. As countries continue to enhance their electrical grids and address aging infrastructure, the demand for high-quality, durable underground cables is expected to rise, presenting significant growth opportunities for market players.
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Prysmian Group
Nexans
Southwire
Hengtong Group
Furukawa Electric
Sumitomo Electric Industries
Qrunning Cable
LS Cable & System
Taihan Electric
Riyadh Cable
NKT Cables
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global HV & EHV Underground Cables Market
Direct Current
Alternative Current
Based on Types the Market is categorized into Below types that held the largest HV & EHV Underground Cables market share In 2023.
HV
EHV
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global HV & EHV Underground Cables Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global HV & EHV Underground Cables Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global HV & EHV Underground Cables Market, By Type
6. Global HV & EHV Underground Cables Market, By Application
7. Global HV & EHV Underground Cables Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global HV & EHV Underground Cables Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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