Overhead Power Cables Market By Voltage Level (Low Voltage [LV], Medium Voltage [MV], High Voltage [HV], Extra High Voltage [EHV]); By Current Type (Alternating Current [AC], Direct Current [DC]); By Application (Transmission Lines, Distribution Lines, Substation Connections, Renewable Energy Integration, Others [e.g., Industrial Power Distribution]); By End-Use Sector (Residential, Commercial, Industrial, Utilities, Renewable Energy Plants [Wind, Solar]); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The overhead power cables market in 2023 was worth USD 68 billion and is expected to be worth USD 102 billion by 2030, expanding at a CAGR of 6% during the forecast period.

 

The overhead power cables market is constantly evolving because of the increasing consumption of electricity and the necessity for updating the existing cables. Global electricity consumption is expected to rise at a 3% faster per annum, mainly due to development and industrialization in the Asia Pacific region. For example, APAC and African countries are seeking investment for the development of new transmission and distribution networks to respond to the energy demand, with China aiming to spend over $300 billion in grid facilities by 2030. Other recent advances are the HTLS overhead power cables that enable high transmission capacity and increased reliability to meet the demand for power transfer in developed and developing regions. Also, overhead transmission lines are becoming more saturated to accommodate the investment in renewable energy sources such as wind and solar farms, hence fueling market growth.

 

One of the key opportunities in the overhead power cables market is in increased connections of renewable power to national grids. While renewable energy capacity is expected to produce almost 50% of the total power generation by 2050, challenges in moving this fluctuating power around necessitate improvements in the transmission networks. For instance, the growth of offshore wind farms has necessitated improved overhead transmission line structures to transmit generated power to onshore grids. Recent developments include adopting advanced materials like composite-core conductors, which can transmit more power over longer distances with reduced line losses. This technology is essential in integrating renewable energy plants in remote locations with densely populated regions to support a world with increased use of clean energy sources.

 

 

Market Segmentation

By Voltage Level:

• Low Voltage (LV)

• Medium Voltage (MV)

• High Voltage (HV)

• Extra High Voltage (EHV)

 

By Current Type:

• Alternating Current (AC)

• Direct Current (DC)

 

By Application:

• Transmission Lines

• Distribution Lines

• Substation Connections

• Renewable Energy Integration

• Others (e.g., Industrial Power Distribution)

 

By End-Use Sector:

• Residential

• Commercial

• Industrial

• Utilities

• Renewable Energy Plants (Wind, Solar)

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis for the Overhead Power Cables Market

By Voltage Level:

Leading Segment: High Voltage (HV)

High Voltage cables dominate the market with over 40% market share. This dominance is mainly because of their extensive use in long-distance power transmission. These cables are essential for connecting generation plants to urban grids. China’s State Grid Corporation has invested heavily in HV cables for its extensive power transmission network. HV cables are projected to grow steadily with a CAGR of 8% as grid expansions continue globally.

Fastest-Growing Segment: Extra High Voltage (EHV)

EHV cables are growing at a CAGR of over 10%, driven by the need to transmit power across ultra-long distances with minimal losses. Countries like India and Brazil are deploying EHV cables for renewable energy integration and inter-state grid connections. For example, India’s Green Energy Corridor project uses EHV cables to connect renewable energy zones to the national grid.

 

By Current Type:

Leading Segment: Alternating Current (AC)

AC cables hold a 65% market share, as they are the standard for most power transmission & distribution networks worldwide. They are widely adopted in transmission & distribution lines due to their cost-effectiveness & compatibility with existing infrastructure. Projects like the European SuperGrid rely heavily on AC cables to enhance cross-border electricity exchange.

Fastest-Growing Segment: Direct Current (DC)

DC cables are growing at a CAGR of 11%, supported by their application in high-capacity, long-distance & underwater power transmission. The NordLink project connecting Norway & Germany utilizes DC cables to efficiently transmit renewable energy over long distances.

 

By Application:

Leading Segment: Transmission Lines

Transmission lines account for 50% of the market share which is driven by the growing demand for reliable & efficient long-distance power transfer. Countries like the U.S. & China are upgrading their transmission networks with advanced overhead power cables to reduce energy losses. The U.S. is investing in projects like the SunZia Transmission Line to enhance power grid reliability.

Fastest-Growing Segment: Renewable Energy Integration

Renewable energy integration is the fastest-growing segment, with a CAGR of 12%, driven by global efforts to increase renewable energy adoption. Projects like China’s ultra-high-voltage transmission lines for wind and solar energy showcase the demand for overhead cables optimized for renewable integration. These cables are essential in transmitting power from remote renewable energy sites to urban centers.

 

By End-Use Sector:

Leading Segment: Utilities

Utilities dominate the market with over 45% market share. They are the primary users of overhead cables for transmission & distribution networks. Large-scale investments by utility companies, such as National Grid in the UK, drive demand for reliable & efficient cable infrastructure.

Fastest-Growing Segment: Renewable Energy Plants

Renewable energy plants, such as wind & solar farms, are growing at a CAGR of 14%, supported by global renewable energy targets and investments. For example, offshore wind farms in Europe require advanced overhead cables to connect turbines to the main grid, propelling this segment’s growth.

 

By Region:

Leading Region: Asia Pacific

APAC holds a 45% market share. The growth is driven by extensive infrastructure development & urbanization in countries like China & India. China’s Belt & Road Initiative includes significant investments in overhead power cables for cross-border energy transmission.

Fastest-Growing Region: Middle East & Africa

The Middle East & Africa is the fastest-growing region, with a CAGR of 13%, fueled by investments in renewable energy & electrification projects. Countries like Saudi Arabia and South Africa are upgrading their grid infrastructure to support economic growth and renewable energy integration.

 

Key Players

• Prysmian Group

• Nexans S.A.

• General Cable Corporation

• Southwire Company, LLC

• Sumitomo Electric Industries, Ltd.

• KEC International Limited

• ZTT International Limited

• LS Cable & System Ltd.

• NKT A/S

• Sterlite Power

 

Overhead Power Cables Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 68 billion
Revenue Forecast in 2030	USD 102 billion
Overall Growth Rate	CAGR of 6%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 – 2030)
Segmentation	By Voltage Level, By Current Type, By Application, By End-Use Sector, By Region
By Voltage Level	Low Voltage (LV), Medium Voltage (MV), High Voltage (HV), Extra High Voltage (EHV)
By Current Type	Alternating Current (AC), Direct Current (DC)
By Application	Transmission Lines, Distribution Lines, Substation Connections, Renewable Energy Integration, Others
By End-Use Sector	Residential, Commercial, Industrial, Utilities, Renewable Energy Plants
By Region	North America, Europe, Asia-Pacific, LAMEA
Country Scope	US, Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Australia, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.