Underground Cabling EPC Market Set to Reach USD 12.9 Billion by 2035 Driven by Smart Grid and Renewable Integration

The global underground cabling EPC (Engineering, Procurement, and Construction) market is entering a decade of consistent expansion, with its value projected to grow from USD 7.8 billion in 2025 to USD 12.9 billion by 2035. This represents a compound annual growth rate (CAGR) of 5.2%, driven by surging demand for resilient, safe, and visually unobtrusive power and communication infrastructure.

Between 2025 and 2030, the market is forecast to grow from USD 7.8 billion to USD 10.0 billion, reflecting steady year-on-year increases. Rising investments in underground cabling infrastructure are particularly strong in urban power transmission and telecom networks, as governments and utilities prioritize grid reliability, reduced transmission losses, and safer urban planning. From 2030 onward, continued momentum is expected as infrastructure grows more complex, energy consumption rises, and demand for reliable distribution networks intensifies.

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Why Underground Cabling is Becoming Essential

Underground cabling EPC projects are gaining ground as cities and industrial corridors emphasize long-term reliability, lower maintenance, and improved aesthetics. Unlike overhead lines, underground systems withstand weather-related disruptions, minimize accident risks, and free up urban space. These benefits have made underground cabling a critical enabler of smart cities, modernized utilities, and renewable integration worldwide.

Governments are increasingly supporting underground projects to advance smart grids, while utilities recognize their importance in reducing outages. At the same time, telecom and data operators rely on underground networks to ensure seamless digital connectivity.

Market Landscape and Growth Drivers

The underground cabling EPC sector holds significant influence within several broader infrastructure markets. It commands about 15% of the power transmission and distribution infrastructure market and nearly 10% of the wider electrical EPC sector. Its growing presence in renewable energy integration, smart grids, and urban utilities underscores its evolving importance in global infrastructure.

Growth is being fueled by urbanization, the global transition toward renewable energy, and rising electricity consumption. Aesthetic and safety considerations in dense metropolitan regions are pushing overhead lines underground, while national and regional policies are accelerating smart grid and renewable integration efforts.

Segmental Insights

By configuration, single core cables are forecast to dominate with a 56.4% share in 2025. Their efficiency, scalability, and thermal performance make them the preferred option for high-voltage applications across expanding grids.

On the voltage side, high tension cables are expected to account for 31.7% of the market, driven by industrial growth, urban expansion, and rising infrastructure demand. Screened construction leads in design, capturing 38.2% of the market, thanks to superior insulation integrity and enhanced safety standards.

Regional Outlook

China leads the underground cabling EPC market with a projected CAGR of 7% through 2035, driven by smart grid investments, rapid urbanization, and renewable integration. India follows closely at 6.5%, reflecting the country's expanding metro projects, smart city initiatives, and renewable transmission needs.

In Europe, Germany is set to grow at 6%, anchored by its energy transition and renewable capacity expansion. France and the UK show steady growth supported by modernization and safety standards, while the USA records a 4.4% CAGR as utilities balance aging infrastructure replacement with new renewable-linked projects.

Competitive Dynamics

The competitive landscape blends global heavyweights and dynamic regional players. Prysmian Group and Nexans dominate large-scale projects, offering extra-high-voltage cabling with digital monitoring and turnkey trench-to-substation execution. Indian leaders such as Gupta Power, KEC International, and Polycab focus on vertical integration, supplying cables alongside installation expertise for regional grid upgrades.

ZTT has carved its space with hybrid power-fiber solutions that address the growing demand for smart grids, while MasTec leverages its North American presence in large-scale infrastructure. Arteche supports the market with specialized equipment integration, ensuring reliability and monitoring in complex underground systems.

The strategies of these players emphasize innovation in insulation technologies, turnkey execution capabilities, and cost-efficient project delivery. Established manufacturers are expanding portfolios while new entrants position themselves through regional expertise and specialized solutions.

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Opportunities and Challenges Ahead

The future of the underground cabling EPC market is defined by two forces: rising opportunities and persistent challenges. On one hand, smart grid rollouts, HVDC transmission, and renewable energy integration promise a wave of projects across both mature and emerging economies. On the other, high installation costs, regulatory hurdles, and complex project timelines present barriers to faster adoption.

Industry leaders believe companies with strong engineering, financial strength, and turnkey project execution will succeed in overcoming these challenges. Smaller firms, however, may need strategic partnerships to stay competitive in this capital-intensive sector.

Looking Forward

The underground cabling EPC market's upward trajectory confirms its status as a cornerstone of modern infrastructure. With governments, utilities, and telecom operators aligning their strategies toward resilience and modernization, EPC contractors are well-positioned to capture long-term value.

As the market moves toward USD 12.9 billion by 2035, opportunities for collaboration, innovation, and global expansion will continue to grow. From established multinationals to emerging regional manufacturers, every player in this sector has a role to play in powering the grids and cities of tomorrow.

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