Press release
Current-Carrying Cables Market to Reach USD 79.0 Billion by 2035, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
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Market Statistics
• Market size: USD 39.8 billion in 2025
• Forecast value: USD 79.0 billion by 2035
• CAGR: 7.2%
• Forecast period: 2026-2035
• Base year: 2025
• Total number of segments: 5
• Tables & figures: 100+
• Country-Level Market Assessment: 14 countries analyzed
Market Segmentation
Current-Carrying Cables Market, By Cable Type
• HV / EHV XLPE Cables
• HVDC Cables (Land + Submarine)
• Armored Submarine AC Cables
Current-Carrying Cables Market, By Voltage Type
• Low (230 kV)
Current-Carrying Cables Market, By Installation Type
• Overhead
• Underground
• Submarine
Current-Carrying Cables Market, By End User
• Power Utilities / T&D Operators
• Renewable Energy Developers
• Industrial & Infrastructure
• EPC Contractors
Current-Carrying Cables Market, By Region
• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Italy, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Japan, Australia, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Iran, Saudi Arabia, and Others)
Segment Analysis
By Cable Type
HVDC Cables (Land + Submarine) are expected to remain the dominant cable type by market value and are also among the fastest-growing types during the forecast period. Their leadership is supported by their central role in long-distance bulk power transfer, subsea interconnectors, and offshore wind export systems, where HVDC technology enables efficient transmission over long distances and connection between asynchronous grids. The high value associated with individual HVDC submarine projects further increases their contribution to overall market revenues, making HVDC capabilities increasingly important for cable manufacturers targeting large transmission and renewable-energy projects.
By Voltage Type
Low (230 kV) is expected to be the fastest-growing voltage type during the forecast period as utilities and transmission operators develop higher-capacity corridors for long-distance bulk-power transfer. This shift toward higher-capacity transmission systems creates opportunities for suppliers capable of meeting the technical requirements of increasingly demanding UHV projects.
By Installation Type
Underground installation dominates the market by value because of the extensive use of high-value cable systems in urban and onshore power networks. Submarine installation is expected to be the fastest-growing installation type, driven primarily by offshore wind developments and subsea power interconnectors. As offshore and cross-border transmission projects expand, manufacturers with submarine cable production, installation, and project-execution capabilities are positioned to participate in some of the market's highest-value opportunities.
By End User
Power Utilities / T&D Operators are expected to remain the dominant end-user segment because they own and operate transmission and distribution networks that require continuing investment in power infrastructure. Renewable Energy Developers are likely to be the fastest-growing end-user segment, supported by grid connections for onshore and offshore wind and solar projects. This changing demand mix increases the strategic importance of renewable-energy project pipelines for suppliers seeking faster-growing customer opportunities.
Regional Insights
Europe leads the current-carrying cables market and is also among the fastest-growing regions. Demand is being propelled by offshore wind export systems, cross-border HVDC interconnectors, and undergrounding programs, while Germany and the UK are identified as key markets within the region. The combination of offshore renewable development and a deep pipeline of subsea HVDC projects makes Europe particularly important for suppliers competing in high-value transmission and submarine cable systems.
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Market Drivers
• Expansion of offshore wind infrastructure: Offshore wind projects require inter-array and export cable systems to transfer electricity from turbines and offshore generation zones to onshore networks. This directly increases demand for submarine AC and HVDC cable systems. ENTSO-E's offshore grid work also highlights the need to prepare transmission systems for increasing offshore renewable-energy integration.
• Growth of cross-border and interregional HVDC interconnectors: HVDC links allow power to move efficiently over long distances while supporting electricity exchange, renewable-energy integration, and security of supply between interconnected systems. NKT also identifies high-voltage cable systems as critical infrastructure for offshore wind and interconnector projects.
• Grid expansion and modernization: Rising electricity demand and changing generation patterns require transmission systems to connect new generation sources with demand centers. The International Energy Agency states that strengthening and upgrading transmission infrastructure is essential for wind and solar deployment and stronger cross-border interconnections, supporting continuing demand for high-capacity cables.
Competitive Landscape
Top Companies in the Market
• Prysmian Group
• Nexans S.A.
• NKT A/S
• Sumitomo Electric Industries, Ltd.
• LS Cable & System Ltd.
• Hellenic Cables (Cenergy Holdings)
• Furukawa Electric Co., Ltd.
• ZTT Group (Jiangsu Zhongtian Technology)
• Jiangsu Hengtong Group
• Sterlite Power (Sterlite Technologies Ltd.)
• KEI Industries Ltd.
FAQs
1. How big is the current-carrying cables market and how fast is it growing?
The current-carrying cables market was valued at USD 39.8 billion in 2025 and is projected to reach USD 79.0 billion by 2035, registering a 7.2% CAGR during 2026-2035. Offshore wind, HVDC interconnectors, undergrounding, grid modernization, and renewable-energy integration are supporting market expansion.
2. Which current-carrying cable segment offers the strongest business opportunity?
HVDC Cables (Land + Submarine) remain dominant by value and are among the fastest-growing cable types. Their use in long-distance bulk-power transmission, offshore wind export systems, and subsea interconnectors makes this segment particularly important for manufacturers, suppliers, and investors evaluating high-value cable opportunities.
3. Where is demand for current-carrying cables strongest?
Europe leads the current-carrying cables market and is also among the fastest-growing regions. Offshore wind export systems, cross-border HVDC interconnectors, and undergrounding are major sources of regional demand, with Germany and the UK identified as key markets.
4. Which customers are driving the most current-carrying cable demand?
Power Utilities / T&D Operators remain the dominant end users because of their ownership and operation of transmission and distribution infrastructure. Renewable Energy Developers are expected to grow fastest as onshore wind, offshore wind, and solar projects require additional grid connections and transmission capacity.
5. What are the biggest constraints for companies entering the current-carrying cables market?
Major constraints include high capital requirements, long project lead times, limited qualified EHV and submarine cable manufacturing capacity, shortages of specialized cable-laying vessels, complex installation and permitting processes, and volatility in copper, aluminium, and insulation-material prices. Advanced HVDC technology is also concentrated among a relatively small number of qualified suppliers, raising entry barriers for new competitors.
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