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Power Transmission Cables Market

ID: MRFR/EnP/1236-HCR
185 Pages
Anshula Mandaokar
October 2025

Power Transmission Cables Market Research Report Information Report by Installation (Overhead, Underground and Submarine), by Voltage (High and Medium), by Users (Utility and Industrial) and by Region - Forecast to 2035

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Summary Table of Contents Segmentation Download PDF

Power Transmission Cables Market Summary

As per Market Research Future analysis, the Power Transmission Cables Market Size was estimated at 5.78 USD Million in 2024. The Power Transmission Cables industry is projected to grow from 6.14 in 2025 to 11.2 by 2035, exhibiting a compound annual growth rate (CAGR) of 6.19% during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Power Transmission Cables Market is experiencing a transformative shift driven by renewable energy and technological advancements.

  • The market is witnessing a notable shift towards renewable energy sources, particularly in North America.
  • Technological advancements in cable design are enhancing efficiency and performance across the sector.
  • Regulatory support for sustainable practices is becoming increasingly prevalent, especially in the Asia-Pacific region.
  • The rising demand for electricity and investment in infrastructure development are key drivers propelling market growth.

Market Size & Forecast

2024 Market Size 5.78 (USD Million)
2035 Market Size 11.2 (USD Million)
CAGR (2025 - 2035) 6.19%

Major Players

Prysmian Group (IT), Nexans (FR), General Cable (US), Southwire Company (US), Sumitomo Electric Industries (JP), LS Cable & System (KR), Apar Industries (IN), Furukawa Electric (JP), Cable Corporation of India (IN)

Power Transmission Cables Market Trends

The Power Transmission Cables Market is currently experiencing a transformative phase, driven by the increasing demand for efficient energy distribution and the growing emphasis on renewable energy sources. As nations strive to modernize their electrical infrastructure, the need for advanced transmission cables becomes paramount. These cables are essential for transmitting electricity over long distances, ensuring minimal energy loss and enhancing overall grid reliability. Furthermore, the integration of smart grid technologies is reshaping the landscape, as utilities seek to optimize performance and manage energy flow more effectively. In addition to technological advancements, regulatory frameworks are evolving to support sustainable practices within the Power Transmission Cables Market. Governments are implementing policies that encourage the use of environmentally friendly materials and promote energy efficiency. This shift not only aligns with global sustainability goals but also drives innovation in cable manufacturing processes. As the market continues to adapt to these changes, stakeholders are likely to explore new opportunities for growth, particularly in emerging economies where infrastructure development is gaining momentum. The future of the Power Transmission Cables Market appears promising, with a focus on enhancing performance, sustainability, and resilience in energy transmission.

Shift Towards Renewable Energy

The Power Transmission Cables Market is witnessing a notable shift towards renewable energy sources. As countries invest in solar, wind, and other sustainable energy technologies, the demand for specialized cables that can handle varying energy loads is increasing. This trend reflects a broader commitment to reducing carbon footprints and enhancing energy security.

Technological Advancements in Cable Design

Innovations in cable design and materials are significantly impacting the Power Transmission Cables Market. Manufacturers are developing cables that are lighter, more durable, and capable of withstanding extreme environmental conditions. These advancements not only improve efficiency but also extend the lifespan of transmission systems.

Regulatory Support for Sustainable Practices

Regulatory bodies are increasingly promoting sustainable practices within the Power Transmission Cables Market. New policies are encouraging the adoption of eco-friendly materials and manufacturing processes. This regulatory support is likely to drive market growth while aligning with global sustainability initiatives.

Power Transmission Cables Market Drivers

Increasing Demand for Renewable Energy

The Global Power Transmission Cables Market Industry experiences a notable surge in demand driven by the global transition towards renewable energy sources. Governments worldwide are investing heavily in solar, wind, and hydroelectric projects, necessitating robust power transmission infrastructure. For instance, the International Renewable Energy Agency indicates that renewable energy capacity is expected to double by 2030. This shift not only enhances energy security but also aligns with sustainability goals, thereby propelling the market forward. The increasing integration of renewable energy into existing grids requires advanced power transmission cables, which is likely to contribute significantly to the projected market value of 137.4 USD Billion in 2024.

Market Segment Insights

By Application: Power Generation (Largest) vs. Renewable Energy (Fastest-Growing)

The Power Transmission Cables Market is segmented into several key applications, including Power Generation, Transmission, Distribution, Renewable Energy, and Industrial. Among these, Power Generation holds the largest market share, driven by the increasing demand for electricity worldwide and the expansion of power generation capacities. Transmission and Distribution also play significant roles, facilitating the flow of electricity from power plants to end-users, thereby supporting consumer needs and industrial applications.

Power Generation (Dominant) vs. Renewable Energy (Emerging)

Power Generation remains the dominant segment in the Power Transmission Cables Market, primarily due to the large-scale infrastructure investments in traditional energy sources such as coal, natural gas, and nuclear energy. This segment focuses on the construction and expansion of power plants that require high-capacity cables for efficient electricity flow. In contrast, Renewable Energy is emerging as a vital segment, capitalizing on the global shift towards sustainable energy sources like wind, solar, and hydroelectric power. As governments and corporations invest in renewable infrastructure, the demand for specialized power transmission cables tailored for these sources is increasing, signaling a robust growth trajectory for this segment in the coming years.

By End Use: Utilities (Largest) vs. Manufacturing (Fastest-Growing)

In the Power Transmission Cables Market, the end use segment showcases a diverse distribution of market share among various applications. Utilities dominate this segment, leveraging their critical role in power distribution and transmission infrastructure. With an increased demand for reliable energy supply, utilities have maintained their lead, tapping into advanced cable technologies to enhance efficiency. Manufacturing follows closely, reflecting a steady reliance on power cables for machinery and equipment operations. Their importance across various manufacturing sectors ensures a substantial share within the market, albeit less than that of utilities. Growth trends are particularly pronounced in the manufacturing sector, which has been recognized as the fastest-growing end use. Factors driving this growth include increased automation, technological advancements, and a surge in production capacities across various industries. The ongoing transition towards renewable energy sources and the necessity to upgrade aging infrastructure further catalyze the demand for power transmission cables in both utilities and manufacturing. This trend indicates a shift towards more sustainable and efficient energy solutions across the entire market.

Utilities (Dominant) vs. Manufacturing (Emerging)

The utilities sector holds a dominant position in the Power Transmission Cables Market, primarily due to its foundational role in the energy distribution network. As society increasingly relies on stable electricity supply, utilities are adopting high-performance cables that offer reliability and enhanced transmission capabilities. In contrast, the manufacturing sector represents an emerging force, driven by innovations in industrial processes and the integration of smart technologies. Manufacturers require robust power cables to support sophisticated machinery and production processes. The emerging nature of this sector is characterized by a shift towards energy-efficient solutions and a focus on reducing operational costs, positioning it strongly for future growth in the cable market.

By Cable Type: High Voltage (Largest) vs. Medium Voltage (Fastest-Growing)

In the Power Transmission Cables Market, the cable types are categorized primarily into high voltage, medium voltage, low voltage, aerial bundled, and underground cables. Currently, high voltage cables dominate the market, attributed to the rising demand for efficient power transmission over long distances. It accounts for a significant portion of the total market share, while medium voltage cables are experiencing rapid growth, paralleling the increase in renewable energy generation and urbanization. The expansion of renewable energy projects and smart grid initiatives is driving the demand for both high and medium voltage cables. Medium voltage cables are quickly becoming essential for connecting renewable energy sources to the grid, thereby enabling their faster adoption. As cities modernize their infrastructures, the market for medium voltage cables is projected to witness substantial growth driven by technological advancements and government policies promoting sustainable energy solutions.

High Voltage (Dominant) vs. Low Voltage (Emerging)

High voltage cables are recognized for their capacity to transmit electricity over extensive distances with minimal energy loss, making them crucial for national grid systems and large-scale power projects. Their robustness and capability to handle large current loads, in addition to their application in renewable energy integration, solidify their market dominance. Conversely, low voltage cables, while traditionally seen as less significant, are emerging as essential components in residential and commercial buildings, particularly with the rise of smart technologies and electric vehicles. These cables facilitate efficient energy distribution and provide reliable connectivity, which is increasingly critical in modern electrical infrastructures. As a result, these segments occupy distinct yet increasingly interconnected roles in the evolving landscape of power distribution.

By Material Type: Copper (Largest) vs. Aluminum (Fastest-Growing)

In the Power Transmission Cables Market, the material type segment showcases a diverse distribution, with copper leading as the dominant choice due to its superior conductivity and reliability. Aluminum stands as a significant player, especially in large scale installations where weight and cost efficiency are paramount. Meanwhile, fiber optic cables are becoming increasingly popular in specific applications, thanks to their high data transmission capabilities. Polymer and composite materials are also noted for their unique advantages, catering to niche markets with specific performance requirements.

Copper (Dominant) vs. Aluminum (Emerging)

Copper cables are widely recognized for their excellent electrical conductivity, making them the preferred choice for high voltage applications in power transmission. Their robustness and resistance to corrosion enhance their appeal, ensuring longevity and reliability in various environments. In contrast, aluminum is emerging as a viable alternative, especially for overhead power lines, due to its lightweight properties and cost-effectiveness. As energy demands continue to accelerate, aluminum's market share is increasing, driven by advancements in manufacturing techniques and a push for more sustainable materials. This juxtaposition highlights the evolving dynamics in the market, where both materials have distinctive qualities catering to diverse applications.

By Installation Type: Overhead (Largest) vs. Underground (Fastest-Growing)

In the Power Transmission Cables Market, the distribution among installation types is notable, with the Overhead segment dominating due to its cost-effectiveness and ease of installation. This installation type enjoys the preference of utilities and energy companies, facilitating widespread use in extensive overhead networks. Meanwhile, the Underground segment, while smaller in current market share, is witnessing significant adoption, driven by urbanization and the need for reliable, secure energy transmission without the visual and environmental drawbacks of overhead cables. The growth trends in this segment are substantially influenced by infrastructure development and regulatory incentives for underground installations. As cities expand and the demand for clean energy increases, the shift towards Underground cables is set to escalate, with more projects requiring minimally invasive, resilient solutions. The emerging preference for Submarine and Indoor installations is also noteworthy, aligning with trends towards increasing efficiency and reducing environmental impact.

Overhead (Dominant) vs. Underground (Emerging)

The Overhead installation type remains the dominant force in the Power Transmission Cables Market, largely due to its historical preference and lower associated costs. It is particularly favored in rural and expansive areas where installation flexibility is crucial, allowing for quick deployment over vast distances. Conversely, the Underground installation type is emerging rapidly, driven by urbanization trends and an increasing need for reliability and aesthetics in densely populated areas. Underground cables provide enhanced protection against environmental factors and potential outages, making them appealing for future urban developments. Both segments, while differing in current market position, highlight the evolving landscape of power transmission methods that balance efficiency, cost, and environmental considerations.

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Regional Insights

North America : Established Market with Growth Potential

The North American power transmission cables market is projected to reach $1.73 billion by December 2025, driven by increasing investments in renewable energy and infrastructure upgrades. Regulatory support for clean energy initiatives and grid modernization is fueling demand, with a focus on enhancing energy efficiency and reliability. The region's market share reflects a robust growth trajectory, supported by technological advancements and sustainability goals. Leading countries such as the US and Canada are at the forefront of this market, with key players like General Cable and Southwire Company dominating the landscape. The competitive environment is characterized by innovation and strategic partnerships aimed at expanding product offerings. As the region transitions to smarter grids, the presence of established companies ensures a strong foothold in the evolving market.

Europe : Innovation and Sustainability Focus

Europe's power transmission cables market is expected to reach $1.15 billion by December 2025, driven by stringent regulations promoting renewable energy and sustainability. The European Union's Green Deal and various national initiatives are catalyzing investments in energy infrastructure, enhancing the demand for advanced cable solutions. The region's commitment to reducing carbon emissions is a significant driver of market growth, with a focus on innovative technologies and materials. Countries like Germany, France, and the UK are leading the charge, with major players such as Nexans and Prysmian Group playing pivotal roles. The competitive landscape is marked by a blend of established firms and emerging players, all vying for market share in a rapidly evolving environment. The emphasis on research and development is fostering innovation, ensuring that Europe remains a key player in The Power Transmission Cables.

Asia-Pacific : Emerging Powerhouse in Energy Sector

The Asia-Pacific power transmission cables market is projected to dominate with a size of $2.9 billion by December 2025, reflecting its status as the largest regional market. Rapid urbanization, industrialization, and government initiatives to enhance energy infrastructure are key growth drivers. The region's focus on renewable energy sources and smart grid technologies is further propelling demand, supported by favorable regulatory frameworks aimed at energy efficiency and sustainability. China, Japan, and India are the leading countries in this market, with significant contributions from key players like Sumitomo Electric Industries and LS Cable & System. The competitive landscape is characterized by a mix of local and international firms, all striving to capture market share in a booming sector. As investments in energy infrastructure continue to rise, the Asia-Pacific region is set to maintain its leadership position in The Power Transmission Cables.

Middle East and Africa : Untapped Market with Growth Potential

The Middle East and Africa power transmission cables market is currently valued at $0.0 billion, indicating significant untapped potential. The region is witnessing gradual investments in energy infrastructure, driven by increasing demand for electricity and government initiatives aimed at enhancing grid reliability. Regulatory frameworks are evolving to support renewable energy projects, which could catalyze market growth in the coming years. Countries like South Africa and the UAE are beginning to emerge as key players in this market, with local firms and international companies exploring opportunities. The competitive landscape is still developing, with a focus on establishing a robust supply chain and enhancing technological capabilities. As the region continues to invest in energy solutions, the power transmission cables market is poised for future growth.

Key Players and Competitive Insights

The Power Transmission Cables Market is currently characterized by a dynamic competitive landscape, driven by increasing demand for efficient energy transmission and the global shift towards renewable energy sources. Key players such as Prysmian Group (Italy), Nexans (France), and Southwire Company (US) are strategically positioning themselves through innovation and regional expansion. For instance, Prysmian Group (Italy) has focused on enhancing its product portfolio with advanced cable technologies, while Nexans (France) emphasizes sustainability in its operations, aiming to reduce carbon emissions in cable production. These strategies collectively shape a competitive environment that is increasingly focused on technological advancement and environmental responsibility.

In terms of business tactics, companies are localizing manufacturing to reduce lead times and optimize supply chains. The market appears moderately fragmented, with several key players exerting influence over regional markets. This fragmentation allows for niche players to thrive, while larger companies leverage their scale to optimize costs and enhance service delivery. The collective influence of these key players fosters a competitive structure that encourages innovation and responsiveness to market demands.

In November 2025, Nexans (France) announced a partnership with a leading renewable energy firm to develop high-capacity transmission cables specifically designed for offshore wind farms. This strategic move is significant as it aligns with the growing trend towards renewable energy, positioning Nexans as a leader in sustainable energy solutions. The collaboration is expected to enhance the efficiency of energy transmission from offshore sites to onshore grids, thereby supporting the transition to greener energy sources.

In October 2025, Southwire Company (US) launched a new line of environmentally friendly cables that utilize recycled materials. This initiative not only reflects a commitment to sustainability but also addresses increasing regulatory pressures regarding environmental impact. The introduction of these cables is likely to attract environmentally conscious consumers and businesses, thereby enhancing Southwire's market share in a competitive landscape that increasingly values sustainability.

In September 2025, Prysmian Group (Italy) completed the acquisition of a regional cable manufacturer, which is expected to bolster its production capabilities and expand its market reach in Asia. This acquisition is strategically important as it allows Prysmian to tap into emerging markets, where demand for power transmission solutions is on the rise. The integration of local expertise and resources is likely to enhance operational efficiency and customer responsiveness.

As of December 2025, current competitive trends in the Power Transmission Cables Market are heavily influenced by digitalization, sustainability, and the integration of AI technologies. Strategic alliances are becoming increasingly prevalent, as companies seek to leverage complementary strengths to enhance their market positions. The competitive differentiation is shifting from price-based competition to a focus on innovation, technology, and supply chain reliability. This evolution suggests that companies that prioritize sustainable practices and technological advancements will likely emerge as leaders in the market.

Key Companies in the Power Transmission Cables Market market include

Industry Developments

    • In November 2019, MHI Vestas has been acquired by Nexans SA for an uninterrupted supply of Windlink cable kits for 2 years. This will provide medium voltage as well as low voltage cable kits to cater to the increasing need for power transmission cables in countries like Brazil, the USA, Europe, and China.
    • In April 2020, Jan De Nal Group has been awarded by TenneT for installation of high voltage cables for an adequate supply of grid connection for West Alpha and Hollandse Kust Noord winds farms of Butch Offshore.
    • The largest market share in the market is held by the North American region owing to the presence of giant countries like the USA, and Canada and their increasing demand for adequate electric supply.
    • Nanjing Daji Iron Tower Manufacturing Co. Ltd is investing huge amounts in research and development which will provide an upper edge over the competitors resulted in higher sales revenue and profit margins.

January 2023: ALLETE and Grid United have signed a memorandum of understanding on exploring transmission opportunities. In the first half of next year, these two countries will conclude a North Plains high voltage cables Connector development agreement. It represents an investment worth about $2.5bn in Montana and North Dakota and will be a long-term asset for those states.

July 2022: Hitachi Energy India Ltd has won a major order from Adani Mumbai Electric Infrastructure to supply a direct current (DHC) system of high voltage transmission linking Kudus with Mumbai. Increase in capacity is expected to occur with the least losses due to the fact that this line would help increase Mumbai’s power supply by nearly half, as claimed by Hitachi Energy.

In June 2022, Borealis and Borouge showcased their cross-linked polyethylene (XLPE) insulated high-voltage direct current (HVDC) technologies wires, which also happen to be recyclable.

In November 2020, Huber+Suhner AG launched its latest Radox-screened Flex high-voltage battery cable range meant for electric vehicles. The Swiss firm combined its Radox technology with an innovative type of semiconductor material, which forms the basis of the new generation battery cable range.

In March 2022, Prysmian released a new range of power cables that are environmentally friendly. These cables are made to save energy more effectively and minimize environmental impact.

In 2022, Belden built new plants in emerging economies, showing that it wants to meet the booming demand for energy and data solutions worldwide.

In February 2022, Encore Wire Corporation announced investments into research and development (R&D) initiatives aimed at improving performance and efficiency levels of their power cable products.

July 2021 - Prysmian, a world-leading manufacturer of cables, has been awarded a USD 900 million contract for the supply of high-voltage direct current (HVDC) cable systems.

 

Future Outlook

Power Transmission Cables Market Future Outlook

The Power Transmission Cables Market is projected to grow at a 6.19% CAGR from 2024 to 2035, driven by renewable energy expansion, urbanization, and technological advancements.

New opportunities lie in:

  • Investment in smart grid technologies to enhance efficiency and reliability.
  • Development of eco-friendly cable materials to meet sustainability demands.
  • Expansion into emerging markets with tailored solutions for local infrastructure needs.

By 2035, the market is expected to be robust, driven by innovation and increased demand.

Market Segmentation

Power Transmission Cables Market End Use Outlook

  • Utilities
  • Manufacturing
  • Construction
  • Transportation
  • Telecommunications

Power Transmission Cables Market Cable Type Outlook

  • High Voltage
  • Medium Voltage
  • Low Voltage
  • Aerial Bundled
  • Underground

Power Transmission Cables Market Application Outlook

  • Power Generation
  • Transmission
  • Distribution
  • Renewable Energy
  • Industrial

Power Transmission Cables Market Material Type Outlook

  • Copper
  • Aluminum
  • Fiber Optic
  • Polymer
  • Composite

Power Transmission Cables Market Installation Type Outlook

  • Overhead
  • Underground
  • Submarine
  • Indoor
  • Outdoor

Report Scope

MARKET SIZE 2024 5.78(USD Million)
MARKET SIZE 2025 6.14(USD Million)
MARKET SIZE 2035 11.2(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR) 6.19% (2024 - 2035)
REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR 2024
Market Forecast Period 2025 - 2035
Historical Data 2019 - 2024
Market Forecast Units USD Million
Key Companies Profiled Prysmian Group (IT), Nexans (FR), General Cable (US), Southwire Company (US), Sumitomo Electric Industries (JP), LS Cable & System (KR), Apar Industries (IN), Furukawa Electric (JP), Cable Corporation of India (IN)
Segments Covered Application, End Use, Cable Type, Material Type, Installation Type
Key Market Opportunities Integration of renewable energy sources drives demand for advanced Power Transmission Cables Market solutions.
Key Market Dynamics Rising demand for renewable energy sources drives innovation and competition in the power transmission cables market.
Countries Covered North America, Europe, APAC, South America, MEA

Market Highlights

Author
Anshula Mandaokar
Team Lead - Research

Anshula Mandaokar holds an academic degree in Chemical Engineering and has been contributing to the field for more than 5 years. She has expertise in Market Research and Business Consulting and serves as a Team Lead for a reputed Market Research firm under the Chemicals and Materials domain spectrum. She has worked on multiple projects, generating explicit results in a quick turnaround time. Her understanding of data interpretation justifies her role as a leader.

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FAQs

At what rate can the power transmission cables market expand in the near future?

The market for Power Transmission Cables can record a growth rate of close to 6.8% in the next few years.

Who are the renowned players in the global market, as per the report?

The most renowned companies striving to achieve a better position in the market are Prysmian S.p.A., General Cable Technologies Corp., Sumitomo Electric Industries Ltd., Shandong DingChang Tower Co. Ltd., Nexans S.A., Nanjing Daji Iron Tower Manufacturing Co. Ltd., KEC International Ltd., Southwire Co. LLC, Kalpataru Power Transmission Ltd., Zhejiang Shengda Steel Tower Co. Ltd., and others.

What are the installation-based market segments?

The installation-based market segments are overhead, underground and submarine.

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