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    South Korea Medium Voltage Cables Market

    ID: MRFR/E&P/53661-HCR
    200 Pages
    Chitranshi Jaiswal
    October 2025

    South Korea Medium Voltage Cables Market Research Report By Installation (Underground, Submarine, Overhead), By Voltage (Up to 25Kv, 26kV-50kV, 51kV-75kV, 76Kv-100kV), By Product (Termination Cables, Joints, XLPE Cables, Others) and By End-User (Industrial, Commercial, Utility)- Forecast to 2035

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    South Korea Medium Voltage Cables Market Infographic
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    South Korea Medium Voltage Cables Market Summary

    The South Korea Medium Voltage Cables market is projected to grow from 1.32 USD Billion in 2024 to 2.7 USD Billion by 2035.

    Key Market Trends & Highlights

    South Korea Medium Voltage Cables Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 6.72% from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 2.7 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 1.32 USD Billion, reflecting a solid foundation for future expansion.
    • Growing adoption of renewable energy sources due to increasing energy demands is a major market driver.

    Market Size & Forecast

    2024 Market Size 1.32 (USD Billion)
    2035 Market Size 2.7 (USD Billion)
    CAGR (2025-2035) 6.72%

    Major Players

    Socar, Taihan Electric Wire, Hanjin Heavy Industries, Nexans Korea, Hyundai Heavy Industries, Samhongsa, Iljin Electric, KEC International, LS Cable & System, Korea Electric Power Corporation, Hengsung Electric, Kohler Power Systems, Shinhan Electric, GM Electric, Daewoo Engineering & Construction

    South Korea Medium Voltage Cables Market Trends

    There are chances to look at the rising trend toward building in a way that is good for the environment and the use of green technology in city planning.

    South Korea wants to become less dependent on energy from other countries and cut down on carbon emissions. Because of this, there is more interest in adopting medium voltage cables that help with cleaner energy distribution. This change gives manufacturers a chance to produce new cable options that fit with their aspirations for sustainability. Recent developments in the South Korean medium voltage cables market show that more and more people are using new materials and technologies that make cables last longer and work better.

    As electric cars become more common in the nation, there are also more chances for medium voltage cables to be used in charging infrastructure.

    Also, the government's aggressive attitude to improving electrical safety regulations has created a need for high-quality cables, which has made the market more competitive among suppliers. Overall, these factors show how the medium voltage cables market in South Korea is always changing and growing, which shows both problems and opportunities for development.

     

    Market Segment Insights

    South Korea Medium Voltage Cables Market Segment Insights

    South Korea Medium Voltage Cables Market Segment Insights

    Medium Voltage Cables Market Installation Insights

    Medium Voltage Cables Market Installation Insights

    The Installation segment of the South Korea Medium Voltage Cables Market plays a critical role in enhancing the country's energy infrastructure, which is essential for supporting its robust industrial framework and expanding urban development. In recent years, South Korea has seen significant investments in renewable energy projects, thereby increasing demand for medium voltage cables. Among various installation methods, Underground installation holds a prominent share, as it offers advantages such as reduced space requirements, improved aesthetics, and enhanced safety by minimizing environmental impacts and potential hazards from weather. 

    These benefits make underground installations a preferred choice for urban environments, where space is at a premium, and public safety is of utmost priority. Submarine installations also present unique advantages, as they are crucial for connecting offshore wind farms and interconnecting islands to the main networks, further promoting the use of clean energy sources in South Korea. This segment is gaining traction due to the country’s ambitious energy transition goals, which aim to increase the proportion of renewable energy in the overall energy mix.

    Meanwhile, Overhead installations continue to play a significant role in rural areas and areas with less urban density, where cost-effectiveness and ease of maintenance remain key considerations. The diversification in installation methods reflects a growing trend toward sustainable practices and enhanced efficiency in the Medium Voltage Cables Market. 

    As the South Korean government continues to promote infrastructural enhancements, the focus on modernizing the electricity network is becoming evident, aligning with national policy objectives while simultaneously ensuring reliable power distribution. The increasing integration of smart technologies within this segment is expected to further drive market growth, enabling better monitoring and management of the electrical grid. Collectively, these factors contribute to the growth of the South Korea Medium Voltage Cables Market industry, accommodating the diverse needs of an evolving energy landscape.

    Medium Voltage Cables Market Voltage Insights

    Medium Voltage Cables Market Voltage Insights

    The South Korea Medium Voltage Cables Market, specifically focusing on the Voltage segment, showcases a diverse range of applications crucial for the development of the electrical infrastructure in the region. The sub-segments of Voltage, including Up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV, play significant roles in the efficient transmission and distribution of electricity. The Up to 25kV category is often employed in residential and small commercial applications, making it vital for urban electrification projects. 

    In contrast, the 26kV-50kV range is increasingly utilized in industrial and utility settings, reflecting the growing need for robust connectivity in South Korea's rapidly expanding economy.The 51kV-75kV and 76kV-100kV segments are particularly important for large-scale energy transmission, supporting the power generation from renewable sources and ensuring stable energy supply. This growing demand for efficient power distribution and the transition towards renewable energy sources underscore the importance of these segments, highlighting their role in sustaining South Korea's economic growth and addressing its energy needs.

    Medium Voltage Cables Market Product Insights

    Medium Voltage Cables Market Product Insights

    The South Korea Medium Voltage Cables Market encompasses various products that play a critical role in electrical distribution systems. Among these, Termination Cables are vital as they connect medium voltage cables to equipment, ensuring a reliable power supply in various applications such as industrial and construction settings. Joints serve as essential connectors that facilitate the interlinking of cables, ensuring seamless power flow and operational efficiency. XLPE Cables, known for their enhanced thermal and electrical properties, are increasingly favored for their ability to withstand high voltage applications, especially in urban developments and renewable energy sectors.

    Other products within this market segment contribute to the flexibility and adaptability of installations, catering to diverse consumer needs. As smart grid developments and energy efficiency initiatives gain traction in South Korea, the demand for innovative medium voltage cable solutions is expected to rise, enhancing the significance of these product categories within the overall market ecosystem. Industry trends highlight a move towards sustainable materials and technologies in cable manufacturing, fueled by regulatory frameworks and growing environmental awareness among consumers, further shaping the industry's landscape.

    Medium Voltage Cables Market End-User Insights

    Medium Voltage Cables Market End-User Insights

    The End-User segment of the South Korea Medium Voltage Cables Market exhibits diverse applications, primarily divided into Industrial, Commercial, and Utility sectors. The Industrial sector plays a pivotal role, heavily relying on medium voltage cables for power distribution to machinery and equipment, ensuring operational efficiency. Meanwhile, the Commercial segment focuses on infrastructure like office buildings and retail outlets, where reliable power systems contribute significantly to business continuity and energy management. 

    The Utility sector is essential as it encompasses the distribution of electricity across urban and rural areas, directly influencing national energy strategies and sustainability goals.These sectors collectively underline the importance of medium voltage cables in supporting South Korea's growing infrastructure and technological advancements. The emphasis on transitioning to smart grids and renewable energy solutions fuels the demand for specialized medium voltage cables in these End-User categories.

    Get more detailed insights about South Korea Medium Voltage Cables Market Research Report- Forecast to 2035

    Key Players and Competitive Insights

    The South Korea Medium Voltage Cables Market is an essential segment of the electrical infrastructure industry, characterized by its critical role in the distribution of electricity and the efficiency of power systems. With the increasing demand for reliable energy supply, the market has witnessed significant developments over the years, showcasing a competitive landscape comprising both established players and new entrants. The industry benefits from advancements in technology, innovation in production techniques, and stringent safety standards that enhance the reliability and efficiency of medium voltage cables. 

    As the nation focuses on sustainability and increased energy efficiency, companies within this market have been actively exploring new materials, designs, and manufacturing processes to cater to the evolving needs of end users.Socar has established a significant presence in the South Korea Medium Voltage Cables Market, known for its strong performance and reputation for quality. The company specializes in producing medium voltage cables that comply with international standards, ensuring reliability and efficiency in power distribution.

    Socar’s strengths lie in its commitment to innovation and technology, which enable it to develop high-performance cable solutions tailored to meet the specific needs of various sectors. The firm emphasizes research and development, allowing it to stay ahead in design capabilities and product offerings. Its extensive distribution network further enhances its market presence, ensuring that Socar’s products are accessible to a wide range of customers in the region.

    Taihan Electric Wire has solidified its position as a key player in the South Korea Medium Voltage Cables Market, gaining recognition for its diverse range of high-quality products and services. The company specializes in manufacturing medium voltage cables that cater to various applications, including industrial and commercial sectors. Taihan Electric Wire is known for its focus on research and development, consistently introducing innovative solutions that enhance performance and reliability. In addition to its strong product lineup, the company has made strategic moves through mergers and acquisitions to bolster its market position and expand its capabilities.

    With a commitment to sustainability and environmental responsibility, Taihan Electric Wire is dedicated to developing eco-friendly products that address the challenges of modern energy demands in South Korea, making it a formidable competitor in the medium voltage cable industry.

    Key Companies in the South Korea Medium Voltage Cables Market market include

    Industry Developments

    The South Korea Medium Voltage Cables Market has seen notable developments recently, particularly with significant investments and advancements in technology. Socar is focusing on expanding its infrastructure, which is expected to leverage medium voltage cable technology for smarter energy management. Taihan Electric Wire has reported increased production capacities to meet the rising demand driven by urbanization and renewable energy initiatives. Hanjin Heavy Industries is exploring innovative solutions in cable installation techniques, aiming for efficient deployment in various projects. Meanwhile, Nexans Korea is leading in sustainability efforts, developing eco-friendly cable products to comply with government regulations on environmental protection. 

    Hyundai Heavy Industries and Samhongsa are also bolstering their market positions through collaborations to enhance product offerings. In terms of mergers and acquisitions, Iljin Electric has pursued strategic partnerships to combine resources for better market coverage, while LS Cable and System continues to expand its footprint through acquisitions. 

    Over the past two to three years, investment in renewable energy projects has driven up the demand for medium voltage cables, reflecting the government's commitment to a greener future. The growth trajectory in this sector showcases the broader trends in South Korea towards better energy solutions.

    Market Segmentation

    Medium Voltage Cables Market Product Outlook

    • Termination Cables
    • Joints
    • XLPE Cables
    • Others

    Medium Voltage Cables Market Voltage Outlook

    • Up to 25Kv
    • 26kV-50kV
    • 51kV-75kV
    • 76Kv-100kV

    Medium Voltage Cables Market End-User Outlook

    • Industrial
    • Commercial
    • Utility

    Medium Voltage Cables Market Installation Outlook

    • Underground
    • Submarine
    • Overhead

    Report Scope

     

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 1.25(USD Billion)
    MARKET SIZE 2024 1.32(USD Billion)
    MARKET SIZE 2035 2.7(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 6.722% (2025 - 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 Billion
    KEY COMPANIES PROFILED Socar, Taihan Electric Wire, Hanjin Heavy Industries, Nexans Korea, Hyundai Heavy Industries, Samhongsa, Iljin Electric, KEC International, LS Cable & System, Korea Electric Power Corporation, Hengsung Electric, Kohler Power Systems, Shinhan Electric, GM Electric, Daewoo Engineering & Construction
    SEGMENTS COVERED Installation, Voltage, Product, End-User
    KEY MARKET OPPORTUNITIES Rising renewable energy investments, Urban infrastructure development projects, Smart grid technology adoption, Energy efficiency regulations enforcement, Expansion of electric vehicle charging networks
    KEY MARKET DYNAMICS infrastructure development, renewable energy integration, regulatory compliance, technological advancements, increasing urbanization
    COUNTRIES COVERED South Korea

    FAQs

    What is the expected market size of the South Korea Medium Voltage Cables Market in 2024?

    The South Korea Medium Voltage Cables Market is expected to be valued at 1.32 USD Billion in 2024.

    What will the market size be by 2035?

    By 2035, the market is projected to reach a value of 2.7 USD Billion.

    What is the expected compound annual growth rate (CAGR) for the South Korea Medium Voltage Cables Market from 2025 to 2035?

    The expected CAGR for the market during the forecast period from 2025 to 2035 is 6.722%.

    What are the major segments in the South Korea Medium Voltage Cables Market based on installation type?

    The market is segmented into underground, submarine, and overhead installations.

    How is the underground segment expected to perform by 2035?

    The underground segment is anticipated to grow from 0.45 USD Billion in 2024 to 0.94 USD Billion in 2035.

    What will be the market size for submarine cables in 2035?

    The submarine cable segment is expected to reach 0.52 USD Billion by 2035.

    What is the expected value of the overhead cable segment in 2035?

    The overhead cable segment is projected to be valued at 1.24 USD Billion in 2035.

    Who are the key players in the South Korea Medium Voltage Cables Market?

    Key players in the market include Socar, Taihan Electric Wire, Hanjin Heavy Industries, Nexans Korea, and Hyundai Heavy Industries.

    What challenges might affect the growth of the Medium Voltage Cables Market?

    Challenges could include fluctuating raw material prices and increasing competition among key players.

    What impact will emerging trends have on the growth of the Medium Voltage Cables Market?

    Emerging trends such as renewable energy integration and smart grid technologies are expected to drive market growth.

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