High Voltage Direct Current (HVDC) Cables Market

By Type;

Mass Impregnated, Extruded, and Others

By Location of Deployment;

Underground, Submarine, and Overhead

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn945852722 Published Date: August, 2025 Updated Date: September, 2025

High Voltage Direct Current (Hvdc) Cables Market Overview

High Voltage Direct Current (Hvdc) Cables Market (USD Million)

High Voltage Direct Current (Hvdc) Cables Market was valued at USD 10,029.64 million in the year 2024. The size of this market is expected to increase to USD 17,189.04 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.0%.


High Voltage Direct Current (HVDC) Cables Market

*Market size in USD million

CAGR 8.0 %


Study Period2025 - 2031
Base Year2024
CAGR (%)8.0 %
Market Size (2024)USD 10,029.64 Million
Market Size (2031)USD 17,189.04 Million
Market ConcentrationMedium
Report Pages365
10,029.64
2024
17,189.04
2031

Major Players

  • Prysmian Group
  • Nexans S.A.
  • NKT A/S
  • LS Cable & System Ltd.
  • General Cable Corporation
  • Sumitomo Electric Industries Ltd.
  • Furukawa Electric Co., Ltd.
  • Hengtong Group
  • ZTT Group
  • Taihan Electric Wire Co., Ltd.
  • Fujikura Ltd.
  • KEI Industries Ltd.
  • Southwire Company, LLC
  • Riyadh Cables Group Company
  • Tratos Group

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

High Voltage Direct Current (HVDC) Cables Market

Fragmented - Highly competitive market without dominant players


The High Voltage Direct Current (HVDC) Cables Market is reshaping power transmission by offering a highly efficient method for transporting electricity across long distances. Adoption of HVDC solutions has climbed by nearly 35%, driven by the need for reliable, loss-minimized energy delivery. This trend highlights a global push toward smarter and more resilient transmission systems.

Key Drivers Accelerating Growth
The growing shift toward renewable integration is fueling HVDC demand. More than 40% of large-scale energy projects rely on HVDC cables to connect offshore wind farms and solar installations to main grids. By reducing transmission losses by over 50% compared to conventional systems, HVDC technology is rapidly becoming the backbone of modern energy networks.

Advancements Strengthening Market Adoption
Continuous progress in insulation technology and submarine cabling has boosted system durability and efficiency. Around 45% of new projects now deploy advanced polymer-based insulation, enhancing reliability while lowering maintenance costs. These technical improvements are expanding adoption across both terrestrial and undersea transmission projects.

Transformation Through Grid Modernization
Investments in smart grids and secure transmission systems are accelerating HVDC implementation. Close to 50% of major power transmission upgrades incorporate HVDC solutions to enable flexible grids and seamless energy trading. This integration strengthens resilience against fluctuating renewable supply and ensures consistent energy flow during peak demand.

Growth Prospects and Industry Outlook
The outlook for the HVDC Cables Market remains highly promising, with nearly 55% of stakeholders planning to expand investments. Both terrestrial and offshore applications are expected to benefit from increasing R&D and advanced monitoring technologies. As global demand for reliable and sustainable transmission grows, HVDC solutions are set to become a cornerstone of future energy infrastructure.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Location of Deployment
    3. Market Snapshot, By Region
  4. High Voltage Direct Current (Hvdc) Cables Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Urbanization and industrial growth
        2. Growing renewable energy investments
        3. Increasing demand for electricity infrastructure
        4. Grid modernization initiatives
        5. Offshore wind farm expansion
      2. Restraints
        1. Land acquisition challenges
        2. Project delays and uncertainties
        3. Project planning complexity
        4. Skilled labor shortage
        5. Cable failure risks
      3. Opportunities
        1. Energy storage integration
        2. Interregional transmission development
        3. Grid infrastructure modernization
        4. Renewable energy expansion
        5. Transportation and industry electrification
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. High Voltage Direct Current (Hvdc) Cables Market, By Type, 2021 - 2031 (USD Million)
      1. Mass Impregnated
      2. Extruded
      3. Others
    2. High Voltage Direct Current (Hvdc) Cables Market, By Location of Deployment, 2021 - 2031 (USD Million)
      1. Underground
      2. Submarine
      3. Overhead
    3. High Voltage Direct Current (Hvdc) Cables Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Prysmian Group
      2. Nexans S.A.
      3. NKT A/S
      4. LS Cable & System Ltd.
      5. General Cable Corporation
      6. Sumitomo Electric Industries Ltd.
      7. Furukawa Electric Co., Ltd.
      8. Hengtong Group
      9. ZTT Group
      10. Taihan Electric Wire Co., Ltd.
      11. Fujikura Ltd.
      12. KEI Industries Ltd.
      13. Southwire Company, LLC
      14. Riyadh Cables Group Company
      15. Tratos Group
  7. Analyst Views
  8. Future Outlook of the Market