The high voltage cables and accessories market is projected to reach USD 52.5 billion by 2028 from an estimated USD 40.0 billion in 2023, at a CAGR of 5.6% during the forecast period. Factors such as increased investments in electricity grids and growth of offshore wind farms is driving the need for high voltage cables and accessories.
The high voltage cables and accessories market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network. Prysmian Group (Italy), Sumitomo Electric Industries Ltd. (Japan), Nexans (France), LS Cable & System Ltd. (Korea), and NKT A/S (Denmark) are the market leaders in the high voltage cables and accessories market. These companies use strategies such as expansions, acquisitions, sales contract, mergers, and product launches to increase their market share.
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Prysmian Group is one of the leaders in cables and system solutions for various industries, including utilities & power grids, telecom, construction & infrastructure, transportation and mobility. The company operates through three business segments namely energy, telecom and project. It offers high voltage cables and accessories through its project and energy segment. It highly invests in research and development for innovation.
Sumitomo Electric Industries, Ltd. is one of the leading manufacturers of electric cables and wire products. The company operates its business through five business segments, namely, Environment & energy, info- communications, Automotive, electronics and industrial materials.
The Environment and Energy business segment includes high voltage cables and accessories which caters to power utilities and renewables as end users. This segment serves other products like Redox Flow Battery, Concentrator Photovoltaic System, energy management system architecture, superconducting products, , traveling cables, heat shrink tubing, thermal control devices and much more.
Nexans manufactures, installs and integrates cables and systems. The company’s product portfolio includes rigid and flexible wires, rods, conductors, switches, tools, connectors, and spare parts. Nexans operates through five business segments namely Building & Territories, Generation & Transmission, Telecom & Data, Industry & Solutions, and other activities. It offers high voltage cables and accessories under its Building & Territories and Generation & Transmission segment and serves to power utilities, renewables and industries as end users.
LS Cable & System Ltd. is an Korean corporation that manufactures cables catering to energy, industrial, and communication sectors. It operates through five business segments: energy, industrial cables, telecommunication, materials and solutions.
The company offers high voltage cables and accessories through its energy segment. It also offers other products such as submarine cables, supercomducting cables, extra high voltage cables, high temperature superconducting and communication through the same segment. It serves power utilities, renewables and industries as end users.
NKT A/S is a company in Denmark that offers cable solutions and operates through three business segments, namely, Solutions, Applications, Service & Accessories. The company caters to construction, industry, mining, power distribution, power transmission, railway, telecom, and trading industries. It offers High voltage cables and accessories through its Solutions and Service & Accessories segment and serves three end users namely, power utilities, renewables and industries.
High Voltage Cables and Accessories Market by Product Type (Cables (XLPE, EPR, HEPR, MI), Accessories (Joints, Termination, Fittings & Fixtures), Conductor Type (Aluminum, Copper), Installation, Voltage, End User & Region - Global Forecast to 2028
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