Press release
Current-Carrying Components Market to Reach USD 90.1 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 46.1 billion in 2025
• Forecast value: USD 90.1 billion by 2035
• CAGR: 7.0%
• 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 Components Market, By Product Type
• Conductors (AAC, AAAC, ACSR, ACAR, HTLS / Composite-Core, and Others)
• Cables (HV / EHV XLPE, HVDC [Land + Submarine], and Armored Submarine AC)
Current-Carrying Components Market, By Voltage Type
• Low (230 kV)
Current-Carrying Components Market, By Installation Type
• Overhead
• Underground
• Submarine
Current-Carrying Components Market, By End User
• Power Utilities / T&D Operators
• Renewable Energy Developers
• Industrial & Infrastructure
• EPC Contractors
Current-Carrying Components 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 product type, cables account for the large majority of market value, with HVDC representing the largest cable sub-segment, because HVDC and submarine cable systems command substantially higher value per unit than bare overhead conductors. Within conductors, ACSR is the largest, while HTLS conductors are the fastest-growing, supported by the need to increase transmission capacity on existing corridors through reconductoring. This demand profile increases the strategic importance of high-voltage cable capabilities while creating growth opportunities for advanced-conductor suppliers serving grid-upgrade programs.
By voltage type, medium and high voltage hold the largest share, reflecting their broad use across conductor and cable applications throughout transmission and distribution networks. UHV (>230 kV) is expected to be the fastest-growing voltage type during the forecast period as utilities develop higher-capacity corridors for long-distance bulk power transfer. Suppliers with capabilities in higher-voltage systems are therefore positioned to address increasingly complex transmission expansion programs.
By installation type, underground installation dominates the market by value, supported by extensive high-value urban and onshore cable networks. Submarine installation is the fastest-growing installation type, driven by offshore wind projects and subsea interconnectors that require specialized high-voltage cable systems. Growing submarine demand increases the commercial importance of manufacturing capacity, installation expertise, project track records, and access to specialized cable-laying vessels.
By end user, power utilities / T&D operators are expected to remain dominant because they own and operate transmission and distribution infrastructure and procure components for new-build, replacement, and grid-upgrade programs. Renewable energy developers are likely to be the fastest-growing end user, driven by the expanding requirement to connect onshore and offshore wind and solar generation to electricity networks. Suppliers capable of serving both utility modernization and renewable-grid-connection projects can consequently participate across multiple sources of infrastructure spending.
Regional Insights
Europe leads the current-carrying components market and is also identified as one of the fastest-growing regions. Growth is propelled by offshore wind export systems, cross-border HVDC interconnectors, and undergrounding initiatives, with Germany and the UK highlighted as key markets. The combination of large interconnection programs and offshore power infrastructure makes the region particularly important for suppliers of high-value HVDC and submarine cable systems.
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Market Drivers
• Rising offshore wind connections: Offshore wind projects require substantial volumes of submarine export and inter-array cables to transfer electricity from generation sites to onshore grids. Large projects therefore create significant demand for high-value cable systems, accessories, installation, and associated services.
• Expansion of HVDC interconnectors: Countries and transmission operators are developing HVDC links to transfer large volumes of electricity over long distances, integrate renewable generation, and strengthen security of supply. NKT's projects, including Shetland HVDC and NordLink, illustrate how interconnection projects translate directly into demand for high-voltage submarine and underground cable systems.
• Accelerating grid modernization investment: Aging electricity networks, renewable integration, resilience requirements, and rising power consumption are driving substantial investment in transmission and distribution infrastructure. The International Energy Agency indicates that meeting electricity demand through 2030 will require annual grid investment to increase by approximately 50% from today's roughly USD 400 billion level, supporting long-term procurement of conductors and cables.
• Growing electricity demand from electrification and data centers: Expanding electricity consumption from industry, buildings, transportation, air conditioning, and data centers requires additional transmission and distribution capacity. The IEA identifies electrification and data-center demand among the forces driving strong electricity-consumption growth, creating the need for grid expansion and reinforcement.
• Renewable integration and higher-capacity transmission corridors: Large additions of wind and solar generation require new evacuation lines, grid reinforcement, reconductoring, and higher-capacity transmission routes. The IEA estimates that transmission spending must increase substantially through the mid-2030s to meet rising electricity needs, reinforcing demand for both advanced overhead conductors and high-voltage 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)
• APAR Industries Ltd.
• Sterlite Power (Sterlite Technologies Ltd.)
• ZTT Group (Jiangsu Zhongtian Technology)
• Furukawa Electric Co., Ltd.
• CTC Global Corporation
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
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