Electric Power Cable Market Size, Share, Opportunities And Trends By Material type (Aluminum, Copper), By Installation type (Overhead, Underground), By Cable type (Twisted Pair, Coaxial, Shielded Cables, Ribbon Electric, Fiber Optics), By Voltage (Low, Medium, High), By Application (Data Transmission, Power Distribution, Others), And By Geography - Forecasts From 2023 To 2028

The electric power cable market is estimated to attain a market size of USD 271.256 billion by 2030, growing at a 3.89% CAGR from a valuation of USD 224.096 billion in 2025.

Electric power cables transmit and distribute electrical energy. The market is involved in the manufacturing, distribution, and installation of power cables. The market encompasses a wide range of cables by voltage, from low, medium, high, to extra-high, having key applications in residential, industrial, utilities, and commercial.

Increasing demand for renewable energy integration, necessitating HVDC and submarine cables for efficient power transmission, alongside rapid urbanization and industrialization, especially in Asia-Pacific, and grid modernization efforts, are the key factors driving the market.  The market is witnessing high growth in Asia-Pacific. There is an increasing shift towards underground and submarine cables. The demand for smart cables with embedded sensors is growing, and a specialized segment is growing for EVs and data centers. Renewable Energy integration will be a high-growth area for the market. There is an increasing trend towards eco-friendly and sustainable product manufacturing.

Electric Power Cable Market Overview & Scope

The electric power cable market is segmented by:

• Material Type: The electric power cable market, based on material type, is segmented into aluminum and copper. Copper cables will dominate the market, driven by their superior conductivity and durability. Aluminum cables will also grow due to their low cost and lighter weight.
• Installation Type: Based on installation type, the market is divided into overhead and underground. Overhead electric power cable growth is primarily driven by the increasing global electricity demand, especially in emerging economies. Urbanization, industrialization, and the spread of electric-powered technology have raised the demand for strong and efficient transmission networks. In line with this, “Our World in Data” reports that the global population living in urban areas is expected to account for 59 percent in 2026, which is predicted to further grow to account for 68 percent by 2050.

Furthermore, according to the Bureau of Economic Analysis, the United States, in 2025, witnessed growth in personal income, disposable personal income, and personal consumption expenditures, the former rising from USD 92 billion in 2024 to USD 194.7 billion in 2025.

• Cable Type: The market is segmented into twisted pair, coaxial, shielded cables, ribbon electric, and fiber optics. Fiber optics are witnessing rapid adoption, especially in data centers and smart grids. Shielded cables are also growing, particularly in industrial settings, while twisted pair and coaxial cables have a considerable share, but are on a declining trend.
• Voltage: The electric power cable market is segmented by voltage into low, medium, and high. Medium voltage cables dominate urban distribution networks, while high voltage cables are growing in transmission, distribution, or submarine cable projects.
• Application: By application, the market includes data transmission, power distribution, and others. Power distribution holds the largest share, however, data transmission is rapidly growing, driven by 5G infrastructure development, digitalization, and IoT integration. The use of electric power cables in power distribution is fueled mainly by the surge in global energy demand and the requirement to expand existing energy infrastructure. As nations develop and become more populated, electricity consumption through residential, commercial, and industrial usage continues to rise. According to the April 2025 “Short-Term Energy Outlook” report by the U.S. Energy Information Administration, the US electricity usage stood at 11.20 billion kilowatt hours per day in 2024, which is expected to grow to 11.51 billion kilowatt hours in 2025 and 11.63 billion kilowatt hours in 2026, thereby showing a constant growth. Moreover, the same source also specified that electricity consumption in the residential, commercial, and industrial sectors will all show an upward trajectory in 2025 and 2026.
• Region: the electric power cable market, by geography, is segmented into regions including North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The Asia Pacific region is expected to witness significant market growth. The region will be driven by increasing demand for electric power cables for consumer use as well as in industries, driven by increasing investment by the government in infrastructure building, from underground to other areas. Countries like China and India have the fastest-growing electrical markets in the Asia Pacific region and contribute to the total increase of the electrical power cable market. Other countries in the Asia Pacific region, such as Japan, South Korea, Australia, and Southeast Asia, are also witnessing significant growth in the electrical power cable market due to increasing demand for electric power and the acceptance of renewable energy sources.

Top Trends Shaping the Electric Power Cable Market

1. Smart Grid Development

• The emergence of smart grids revolutionized electrical grids that utilize digital communication technology to sense and respond to local usage patterns has created a demand for more intelligent cable systems. Conventional cables are being replaced or complemented by sensor- and monitoring-laced power cables capable of monitoring real-time temperature, current, voltage, and faults. This enables predictive maintenance, quicker response to outages, and improved energy distribution. As utility firms continue to upgrade aging infrastructure, the need for smart cables that increase the grid's resilience and responsiveness keeps on increasing.

2. Expansion of Electric Vehicle (EV) Infrastructure

• The EV revolution not only transforms the automotive industry but also presents new challenges and opportunities for the power cable market. The accelerated rollout of EV charging infrastructure, particularly high-speed charging stations, demands high-current cables that can withstand heavy use, weathering, and mechanical stress. Residential and commercial properties are also being retrofitted with electrical systems compatible with EVs, creating further demand for specialized cable. Producers are countering with improvements in flexible, heat-resistant, and high-durability cables specifically designed for EV use that add to the scalability and dependability of charging infrastructure globally.

Electric Power Cable Market Growth Drivers

Drivers:

• Increasing Investments in Transmission and Distribution of Electric Power: Power cables are critical in transmitting electrical power from power generation facilities to homes, businesses, and other end-users. They are an essential component of the electrical infrastructure, and their importance is expected to grow as the electricity demand continues to rise. In February 2022, the Indian government decided to increase the total investment in eight state-owned power companies by about 5% to Rs 51,470.14 crores for the financial year 2022-2023.  Data from the International Energy Agency shows that the overall global investment in electrical power companies has increased from US$ 827 billion in 2017 to US$ 977 billion in 2022. This sharp increase leads to the growth of the electrical power markets worldwide. Therefore, the increasing demand for transmission and distribution of electrical power is resulting in the demand for power cables, and this is expected to drive the electric power cable market growth in the coming years.
• Technological Advancements and Sustainability Demands: The global electric power cable market is undergoing a dynamic transformation driven by the convergence of technological advancements, sustainability demands, and evolving application needs. One of the most prominent trends shaping the industry is the growing shift from overhead to underground and submarine cabling. This shift is motivated by urbanization, space constraints, safety considerations, and the need for reliable infrastructure. The Prysmian Group's involvement in the Project Lightning HVDC interconnection project in the UAE, began in 2025, highlighting a clear industry shift towards underground and submarine power cable solutions. As part of this €60 million contract, Prysmian is laying 134 km of submarine DC cables to connect offshore oil production facilities with cleaner onshore power.  It highlights the growing preference for underground cable infrastructure.
• Increasing Demand from Renewable Energy Transmission: One of the key factors that is the major driver for the growth of electric power cables is the rising demand for renewable energy integration. As more countries aim to meet climate goals, they are increasing the use of renewable energy sources, both offshore and onshore. This growing shift is driving the demand for electric cables needed to transmit and connect these energy systems.

The offshore renewable energy projects are also growing substantially. It drives the demand for submarine or undersea high-voltage cables. The market is also driven by power cables used in interconnection and grid integration.

The data from the International Energy Agency highlights the growth in renewable energy, driving the electric power cables. As per the IEA, in the electricity sector, the renewable energy share is forecast to expand from 30% in 2023 to 46% in 2030. Solar and wind make up almost all of this growth. The share of wind will grow from 8% in 2023 to 14% in 2030, while solar will rise from 5% in 2023 to 16% in 2030. As solar and wind installations require power to be transmitted over long distances, it drives the demand for electric power cables.

Electric Power Cable Market Regional Analysis

• Asia Pacific: Asia Pacific is anticipated to be one of the leading regions. Countries like China and India have the fastest-growing electrical markets in the Asia Pacific region and contribute to the total increase of the electrical power cable market. China, the leader in global annual electricity consumption, consumes around 5.564 trillion kWh alone. It also has the highest number of electronic products manufactured every year. Thus, the need for electrical power cables also increases yearly in China.  India is also considered an important region for the electric power cable market. The country consumes 1.137 trillion kWh of electricity every year. A growth of around US$ 1.65 billion during 2021 – 2025 is estimated in the Indian electric power cable market. Other countries in the Asia Pacific region, such as Japan, South Korea, Australia, and Southeast Asia, are also witnessing significant growth in the electrical power cable market due to increasing demand for electric power and the acceptance of renewable energy sources.

Electric Power Cable Market Key Developments

Product Launch: In May 2025, Amokabel launched a new medium voltage cable at Elfack, designed for sustainability and reliability, produced using 100% renewable energy with a quality-assured supply chain and full environmental documentation, including EPD certification.

Electric Power Cable Market Segmentation:

By Material type

• Aluminum
• Copper

By Installation type

• Overhead
• Underground

By Cable type

• Twisted Pair
• Coaxial
• Shielded Cables
• Ribbon Electric
• Fiber Optics

By Voltage

• Low
• Medium
• High

By Application

• Data Transmission
• Power Distribution
• Others

By Region

• North America
  • USA
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Spain
  • Others
• Middle East and Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Taiwan
  • Others

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1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL ADVANCEMENTS

5. ELECTRIC POWER CABLE MARKET BY MATERIAL TYPE

5.1. Introduction

5.2. Aluminum

5.3. Copper

6. ELECTRIC POWER CABLE MARKET BY INSTALLATION TYPE

6.1. Introduction

6.2. Overhead

6.3. Underground

7. ELECTRIC POWER CABLE MARKET BY CABLE TYPE

7.1. Introduction

7.2. Twisted Pair

7.3. Coaxial

7.4. Shielded Cables

7.5. Ribbon Electric

7.6. Fiber Optics

8. ELECTRIC POWER CABLE MARKET BY VOLTAGE

8.1. Introduction

8.2. Low

8.3. Medium

8.4. High

9. ELECTRIC POWER CABLE MARKET BY APPLICATION

9.1. Introduction

9.2. Data Transmission

9.3. Power Distribution

9.4. Others

10. ELECTRIC POWER CABLE MARKET BY GEOGRAPHY

10.1. Introduction

10.2. North America

10.2.1. By Material Type

10.2.2. By Installation Type

10.2.3. By Cable Type

10.2.4. By Voltage

10.2.5. By Application

10.2.6. By Country

10.2.6.1. USA

10.2.6.2. Canada

10.2.6.3. Mexico

10.3. South America

10.3.1. By Material Type

10.3.2. By Installation Type

10.3.3. By Cable Type

10.3.4. By Voltage

10.3.5. By Application

10.3.6. By Country

10.3.6.1. Brazil

10.3.6.2. Argentina

10.3.6.3. Others

10.4. Europe

10.4.1. By Material Type

10.4.2. By Installation Type

10.4.3. By Cable Type

10.4.4. By Voltage

10.4.5. By Application

10.4.6. By Country

10.4.6.1. United Kingdom

10.4.6.2. Germany

10.4.6.3. France

10.4.6.4. Spain

10.4.6.5. Others

10.5. Middle East and Africa

10.5.1. By Material Type

10.5.2. By Installation Type

10.5.3. By Cable Type

10.5.4. By Voltage

10.5.5. By Application

10.5.6. By Country

10.5.6.1. Saudi Arabia

10.5.6.2. UAE

10.5.6.3. Others

10.6. Asia Pacific

10.6.1. By Material Type

10.6.2. By Installation Type

10.6.3. By Cable Type

10.6.4. By Voltage

10.6.5. By Application

10.6.6. By Country

10.6.6.1. China

10.6.6.2. Japan

10.6.6.3. India

10.6.6.4. South Korea

10.6.6.5. Taiwan

10.6.6.6. Others

11. COMPETITIVE ENVIRONMENT AND ANALYSIS

11.1. Major Players and Strategy Analysis

11.2. Market Share Analysis

11.3. Mergers, Acquisitions, Agreements, and Collaborations

11.4. Competitive Dashboard

12. COMPANY PROFILES

12.1. KEI Industries Ltd.

12.2. Sumitomo Electric Industries, Ltd.

12.3. Prysmian S.p.A.

12.4. Nexans S.A.

12.5. NKT A/S

12.6. Polycab India Limited

12.7. TE Connectivity Ltd.

12.8. Southwire Company, LLC

12.9. Finolex Cables Limited

12.10. BRUGG Cables AG

12.11. Furukawa Electric Co., Ltd.

12.12. LS Cable & Systems Ltd.

12.13. Havells India Limited

13. APPENDIX

13.1. Currency 

13.2. Assumptions

13.3. Base and Forecast Years Timeline

13.4. Key benefits for the stakeholders

13.5. Research Methodology 

13.6. Abbreviations 

KEI Industries Ltd.

Sumitomo Electric Industries, Ltd.

Prysmian S.p.A.

Nexans S.A.

NKT A/S

Polycab India Limited

TE Connectivity Ltd.

Southwire Company, LLC

Finolex Cables Limited

BRUGG Cables AG

Furukawa Electric Co., Ltd.

LS Cable & Systems Ltd.

Havells India Limited