The global HV & EHV Underground Cables market size was estimated at US$ 10008.49 million in the year 2023

EHV and HV (High Voltage; 60 kV to 150 kV, EHV: Extra High Voltage; 150 -500 kV) is used for energy transmission to decrease the current in the line.

According to the new market research report “Global HV & EHV Underground Cables Market Report 2024-2030”, published by GIResearch, the global HV & EHV Underground Cables market size was estimated at US$ 10008.49 million in the year 2023, is projected to reach a revised size of US$ 14225.45 million by 2030, growing at a CAGR of 5.23% during the forecast period 2024-2030.

• Global HV & EHV Underground Cables Market Size (US$ Million), 2019, 2023 and 2030

Source: GlobalInfoResearch, “Global HV & EHV Underground Cables Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030”.

Market Drivers: The major structural difference differentiating high voltage and EHV cables from other types of cables is the presence of additional internal layers in the insulation jacket that helps to control the electric flow around the conductor. This helps in reducing the power losses during long-range transmissions, and therefore high voltage and EHV cables are found to be more efficient than other types of voltage cables in power transmission. Globally, transmission is in a phase of growth and modernisation involving large expenditures. These favorable conditions promote the development of the HV & EHV Underground Cables market.

• Global HV & EHV Underground Cables, Global Market Size, The Top Five Players Hold 44.9% of Overall Market

Source: GlobalInfoResearch, “Global HV & EHV Underground Cables Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030”.

At present, the major players of HV & EHV Underground Cables in the world include: Prysmian Group, Nexans, Southwire, Hengtong Group, Furukawa Electric, Sumitomo Electric Industries, Qrunning Cable, LS Cable & System, Taihan Electric and Riyadh Cable, among which Prysmian Groupis the world’s largest HV & EHV Underground Cables manufacturer.

In 2023, the global top five Global HV & EHV Underground Cables players account for 44.9% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Global HV & EHV Underground Cables.

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