Underground Cabling Engineering, Procurement, and Construction (EPC) Market
By Configuration;
Single Core and Three CoreBy Voltage Level;
High Tension, Low Tension, Super Tension, Extra High Tension, Extra Super Voltage and Ultra-High TensionBy Construction;
Screened, Belted and PressureBy Insulation;
XLPE, PVC and RubberBy Installation;
Direct Buried, Trough, Tunnels and GILsBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)Underground Cabling Engineering, Procurement, and Construction (EPC) Market Overview
Underground Cabling Engineering, Procurement, and Construction (EPC) Market (USD Million)
Underground Cabling Engineering, Procurement, and Construction (EPC) Marketwas valued at USD 17,107.11 million in the year 2024. The size of this market is expected to increase to USD 22,511.79 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4%.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market
*Market size in USD million
CAGR 4 %
| Study Period | 2025 - 2031 |
|---|---|
| Base Year | 2024 |
| CAGR (%) | 4 % |
| Market Size (2024) | USD 17,107.11 Million |
| Market Size (2031) | USD 22,511.79 Million |
| Market Concentration | High |
| Report Pages | 341 |
Major Players
- Gupta Power
- Anixter
- APAR
- Kalpataru
- Sumitomo
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Underground Cabling Engineering, Procurement, and Construction (EPC) Market
Fragmented - Highly competitive market without dominant players
The Underground Cabling Engineering, Procurement, and Construction (EPC) Market is experiencing substantial growth as industries move from overhead networks to advanced underground systems. This shift enhances operational reliability, safety, and efficiency, with more than 40% of energy and communication infrastructure now adopting underground cabling to strengthen long-term performance and sustainability.
Rising Demand for Reliable Infrastructure
The increasing focus on system reliability and uninterrupted services is accelerating underground cabling adoption. Nearly 35% of utilities are investing in underground EPC projects to reduce outages and improve service continuity. These efforts are also aligned with modernization strategies that support future-ready networks in both energy and telecom.
Technological Advancements Driving Adoption
Innovations in cable design, insulation materials, and digital monitoring technologies have significantly boosted project efficiency. Around 50% of newly deployed underground cabling integrates smart fault detection and predictive systems, improving asset longevity and minimizing risks. These advancements are reshaping execution standards and enabling faster project delivery.
Growing Focus on Safety and Efficiency
Organizations are prioritizing safety and operational effectiveness, making underground cabling a preferred alternative to overhead lines. Approximately 45% of firms emphasize underground systems as safer, lowering risks from weather and environmental hazards. This commitment to safety reinforces confidence and accelerates adoption across key sectors.
Future Outlook and Expansion Opportunities
The Underground Cabling EPC Market is positioned for rapid expansion, supported by digitalization and renewable integration. Nearly 60% of infrastructure providers plan to increase investments in underground cabling projects, reflecting its critical role in future-ready infrastructure. Ongoing research and collaborative initiatives will further unlock opportunities and expand industry applications.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market Key Takeaways
-
Infrastructure modernization is a major growth driver governments and utilities are increasingly investing in underground cabling to replace aging overhead systems and enhance grid reliability.
-
Urbanization and smart city initiatives accelerate demand growing focus on aesthetic city planning, safety, and reduced transmission losses is fueling EPC project execution.
-
Rising power demand and renewable integration underground cabling supports efficient transmission for renewable energy projects, minimizing environmental and visual impact.
-
Technological advancements improve project efficiency adoption of trenchless technology, GIS mapping, and advanced cable monitoring systems streamline installation and maintenance.
-
High installation and maintenance costs remain a constraint despite long-term benefits, the significant upfront capital required limits adoption in cost-sensitive regions.
-
Asia-Pacific leads global expansion countries like India, China, and South Korea are investing heavily in underground cable networks to enhance power distribution and urban infrastructure.
-
Strategic partnerships drive competitive advantage EPC companies are collaborating with technology providers and utilities to deliver turnkey solutions and optimize project outcomes.
Underground Cabling Epc Market Recent Developments
-
In April 2023, Nexans secured major underground cabling contracts across Europe, aimed at enhancing grid reliability and supporting the region’s transition to more resilient and sustainable energy infrastructure.
-
In January 2023, Prysmian Group expanded its underground cabling operations across Asia to address the region’s growing urban energy demands. This strategic move strengthens the company’s presence in emerging markets and supports the development of advanced power distribution networks.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market Segment Analysis
In this report, the Underground Cabling Engineering, Procurement, and Construction (EPC) Market has been segmented by Configuration, Voltage Level, Construction, Insulation, Installation and Geography.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market, Segmentation by Configuration
The configuration axis distinguishes how conductors are arranged to balance power density, cost, and reliability across diverse grid and utility applications. EPC strategies emphasize lifecycle performance, fault management, and ease of installation, with choices driven by utility standards, urban load growth, and grid modernization programs. Vendors differentiate through engineering optimization, jointing techniques, and predictive maintenance provisions that enhance uptime and support future capacity augmentation.
Single Core
Single core designs are favored for high-capacity feeders and routes requiring efficient heat dissipation and flexible pulling in congested ducts. EPC players highlight lower inductive coupling, simplified splicing, and compatibility with XLPE insulation to enable compact alignments. Adoption is supported by urban undergrounding initiatives and renewables integration, where higher current ratings and thermal stability reduce total cost of ownership over long corridors.
Three Core
Three core configurations provide integrated phases within a single cable for shorter runs and distribution networks where space constraints and installation speed are paramount. EPC contractors leverage factory-assembled designs to minimize site work, enhance mechanical robustness, and reduce joint bays. Utilities deploy three core options to streamline medium-voltage distribution, improve network reliability, and balance capital efficiency with operational simplicity.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market, Segmentation by Voltage Level
The voltage level selection shapes cable design, insulation thickness, accessories, and civil works, directly impacting capex/opex and grid resilience. EPC scope spans route surveys, thermal modeling, duct/trefoil configurations, and reactive power management for stability. As urban demand and interconnections rise, utilities prioritize solutions that offer thermal performance, fault containment, and scalable capacity for long-term expansion.
High Tension
High tension lines support distribution backbones and sub-transmission links where cost-efficiency and ease of maintenance matter. EPC firms optimize trench design, soil thermal resistivity, and joint spacing to ensure ampacity while minimizing disruption. Standardized components and proven installation methods accelerate schedules and reduce lifecycle risks.
Low Tension
Low tension cables serve local networks, industrial estates, and commercial complexes with a focus on safety, voltage regulation, and rapid deployment. EPC providers integrate fault detection and condition monitoring to reduce outages, while compact trenching and shared utility corridors control civil costs. This segment benefits from urban densification and building electrification trends.
Super Tension
Super tension projects address high-demand corridors and inter-substation ties where power density and corridor constraints require advanced engineering. Designs emphasize partial discharge control, optimized sheath bonding, and advanced joints/terminations for dependable performance. EPC strategies incorporate thermal backfill and load management to future-proof capacity.
Extra High Tension
Extra high tension installations enable bulk power transfer across metropolitan areas and critical industrial clusters, demanding rigorous standards and system studies. EPC contractors deploy precision cable laying, real-time monitoring, and grid stability measures to mitigate faults. Stakeholders prioritize asset longevity and interoperability with substations, GIS bays, and reactive compensation.
Extra Super Voltage
Extra super voltage projects serve strategic corridors where conventional overhead lines face permitting or visual constraints. EPC scopes include detailed thermal modeling, EMF management, and route optimization through complex urban fabrics. Advanced protection schemes and digital twins enhance risk management and commissioning certainty.
Ultra-High Tension
Ultra-high tension undergrounding is applied selectively for flagship corridors requiring maximum capacity, reliability, and minimal surface impact. EPC execution hinges on specialized accessories, redundant pathways, and stringent quality assurance to achieve target ampacity and thermal margins. Long-term asset management relies on online diagnostics and condition-based maintenance frameworks.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market, Segmentation by Construction
The construction approach governs cable architecture, mechanical protection, and dielectric integrity, shaping installation techniques and asset life. EPC choices align with soil conditions, depth, hydrostatic pressures, and required fault current withstand. Utilities and developers select designs that balance capex, installation speed, and operational safety in dense urban and industrial environments.
Screened
Screened construction employs conductive layers for electric field control, improving safety and partial discharge performance. EPC teams prefer screened designs for higher voltages and environments with stringent EMC requirements. Benefits include consistent stress distribution, enhanced reliability, and compatibility with modern accessories.
Belted
Belted cables utilize overall insulation “belts” to consolidate conductors, providing mechanical stability and simplified handling at lower to medium voltages. EPC contractors value their cost-effectiveness for short to medium runs in distribution networks. Proper jointing practices and quality controls ensure dependable, standardized performance.
Pressure
Pressure (e.g., fluid/gas-pressurized) constructions are engineered for specialized, long-distance routes requiring high reliability and superior dielectric performance. EPC execution demands advanced monitoring of pressures, robust sealing, and redundant safeguards. These systems are selected for legacy corridors or critical links where proven operational history is paramount.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market, Segmentation by Insulation
Insulation materials determine thermal rating, installation flexibility, and compatibility with accessories, directly influencing ampacity and service life. EPC decisions weigh dielectric strength, environmental profile, and ease of jointing to meet reliability targets. Utilities favor materials that support rapid deployment, strong ageing characteristics, and predictable performance under variable loads.
XLPE
XLPE (cross-linked polyethylene) dominates modern undergrounding due to its thermal endurance, low dielectric losses, and installation agility. EPC workflows benefit from shorter curing times, standardized joints, and proven long-term reliability. XLPE supports higher ratings in compact corridors, aligning with urban resilience and network expansion goals.
PVC
PVC insulation serves low to medium voltage applications where cost control and chemical resistance are priorities. EPC use cases include industrial campuses and municipal networks with moderate thermal demands. With proper derating and protection, PVC solutions deliver predictable performance and streamlined maintenance regimes.
Rubber
Rubber-insulated cables offer high flexibility and resilience in dynamic or vibration-prone environments, supporting specialized installations. EPC contractors deploy rubber options for temporary feeds, tunnels, and zones requiring bend tolerance. Modern compounds balance dielectric stability with environmental considerations to ensure safe, reliable operations.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market, Segmentation by Installation
Installation methods shape trenching, civil engineering, risks, and project timetables, with choices guided by soil conditions, utility congestion, and required ampacity. EPC firms integrate route surveys, thermal resistivity analysis, and constructability reviews to optimize cost and minimize disruption. Digital planning, horizontal alignment optimization, and safety controls are central to predictable schedules and quality outcomes.
Direct Buried
Direct buried solutions reduce surface hardware and can be cost-efficient for greenfield routes, provided that soil stabilization, thermal backfill, and protection are engineered correctly. EPC risk management covers third-party damage prevention, accurate as-built records, and robust restoration. Adoption is driven by speed of execution and minimal visual impact.
Trough
Trough systems house cables within protective channels for improved accessibility and maintenance in urban corridors. EPC designs focus on drainage, heat dissipation, and pedestrian/traffic safety during works. Standardized covers and modular sections accelerate installation and facilitate future upgrades.
Tunnels
Tunnels provide segregated, secure routes for critical feeders in dense cities, balancing capacity with operational access. EPC programs address ventilation, fire safety, and asset monitoring to ensure resilience. Though capex is higher, long-term maintainability and multi-utility integration support strategic value.
GILs
GILs (Gas-Insulated Lines) enable extremely high ratings with compact footprints in sensitive corridors, complementing or replacing conventional cables. EPC execution requires specialized jointing, gas management, and leak detection systems for safety. Utilities apply GILs where EMF constraints and corridor limitations necessitate superior performance.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market, Segmentation by Geography
In this report, the Underground Cabling Engineering, Procurement, and Construction (EPC) Market has been segmented by Geography into five regions: North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
North America
North America advances undergrounding through grid hardening, storm resilience, and urban renewal programs, driving demand for XLPE and high-capacity feeders. EPC models emphasize permitting efficiency, outage minimization, and digital construction workflows to compress schedules. Utilities prioritize reliability, interoperability with advanced substations, and condition monitoring to extend asset life.
Europe
Europe invests in underground links to support energy transition, cross-border interconnections, and stringent environmental standards. EPC firms leverage experienced supply chains, tunnel/duct banks, and GILs for dense cities, aligning with EMF and landscape constraints. Regulatory frameworks reinforce quality assurance, enabling consistent execution and predictable performance outcomes.
Asia Pacific
Asia Pacific experiences rapid urbanization and industrial expansion, accelerating underground distribution and extra-high tension corridors in megacities. EPC strategies focus on constructability in congested rights-of-way, scalable capacity, and cost optimization via standardization. Governments support grid modernization and reliability improvements to meet rising electrification and data center growth.
Middle East & Africa
Middle East & Africa deploys underground solutions for reliability in harsh climates, integrating industrial clusters, metros, and new urban districts. EPC programs emphasize thermal engineering, robust sheath bonding, and advanced protection to withstand peak loads. Strategic projects balance capex control with long-term operational resilience and safety requirements.
Latin America
Latin America accelerates undergrounding in capital cities and critical tourism/industrial zones to enhance power quality and reduce outages. EPC contractors optimize civil works, leverage standardized accessories, and strengthen maintenance capabilities for reliability. Policy support and urban regeneration initiatives underpin steady project pipelines and modernization agendas.
Underground Cabling Epc Market Forces
This report provides an in depth analysis of various factors that impact the dynamics of Underground Cabling Epc Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Comprehensive Market Impact Matrix
This matrix outlines how core market forces—Drivers, Restraints, and Opportunities—affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.
| Market Forces ↓ / Impact Areas → | Market Growth Rate | Competitive Landscape | Customer Behavior | Regulatory Influence | Innovation Potential |
|---|---|---|---|---|---|
| Drivers | High impact (e.g., tech adoption, rising demand) | Encourages new entrants and fosters expansion | Increases usage and enhances demand elasticity | Often aligns with progressive policy trends | Fuels R&D initiatives and product development |
| Restraints | Slows growth (e.g., high costs, supply chain issues) | Raises entry barriers and may drive market consolidation | Deters consumption due to friction or low awareness | Introduces compliance hurdles and regulatory risks | Limits innovation appetite and risk tolerance |
| Opportunities | Unlocks new segments or untapped geographies | Creates white space for innovation and M&A | Opens new use cases and shifts consumer preferences | Policy shifts may offer strategic advantages | Sparks disruptive innovation and strategic alliances |
Drivers, Restraints and Opportunities Analysis
Drivers :
- Rising Demand for Reliable Power Transmission
-
Urbanization and Infrastructure Development - The Global Underground Cabling EPC (Engineering, Procurement, and Construction) Market is experiencing significant growth driven by urbanization and infrastructure development. As urban areas expand and populations increase, the demand for reliable and efficient power and communication networks intensifies. Underground cabling solutions are preferred in densely populated areas to minimize space usage, enhance safety, and reduce the visual impact of overhead cables. This trend is particularly evident in rapidly growing cities where the integration of advanced infrastructure is essential to support economic activities and improve the quality of life for residents.
Infrastructure development projects, including transportation systems, commercial buildings, and residential complexes, are increasingly incorporating underground cabling to meet modern standards of safety and aesthetics. Governments and private sector players are investing heavily in upgrading existing networks and deploying new ones to support smart city initiatives, renewable energy integration, and high-speed internet connectivity. These efforts are driving the demand for advanced underground cabling solutions that offer reliability, efficiency, and environmental sustainability. The growth of the Global Underground Cabling EPC Market is thus closely linked to the broader trends of urbanization and infrastructure enhancement, reflecting the need for robust and future-ready cabling systems in the evolving urban landscape.
Restraints :
- High Installation Costs
- Permitting and Regulatory Challenges
-
Skilled Labor Shortage - The Global Underground Cabling EPC (Engineering, Procurement, and Construction) Market is currently facing a significant challenge due to a skilled labor shortage. This shortage affects various aspects of the market, including project timelines, costs, and overall efficiency. The installation and maintenance of underground cabling systems require specialized knowledge and expertise to ensure safety, reliability, and compliance with regulatory standards. The lack of skilled professionals in this field is leading to delays in project execution, increased labor costs, and potential compromises in the quality of installations.
The skilled labor shortage is compounded by the increasing demand for underground cabling projects driven by the expansion of urban infrastructure, the rise of renewable energy projects, and the need for upgraded power transmission and distribution networks. To address this issue, industry stakeholders are investing in training programs, partnerships with educational institutions, and adopting advanced technologies to streamline processes and reduce reliance on manual labor. However, until these measures effectively bridge the skills gap, the shortage of skilled labor will continue to pose a significant challenge to the growth and efficiency of the Global Underground Cabling EPC Market.
Opportunity :
- Technological Advancements
- Focus on Renewable Energy Integration
-
Growth in Emerging Economies - The Global Underground Cabling EPC (Engineering, Procurement, and Construction) Market is experiencing significant growth in emerging economies. This expansion is driven by the rapid urbanization, industrialization, and infrastructural development in these regions. As cities expand and modernize, the demand for reliable and efficient power distribution systems increases, necessitating the adoption of underground cabling solutions. These systems offer numerous advantages, including enhanced safety, reduced maintenance costs, and improved aesthetic appeal by eliminating overhead power lines. Emerging economies are increasingly investing in underground cabling to support their growing energy needs and to ensure a stable and uninterrupted power supply.
The government initiatives and policies in emerging economies are playing a crucial role in the market's growth. Many governments are implementing regulations and providing funding for the development of underground cabling infrastructure to promote sustainable urban development and to reduce the environmental impact of traditional overhead lines. These initiatives, coupled with advancements in technology and the availability of cost-effective solutions, are driving the adoption of underground cabling systems in these regions. As a result, the Global Underground Cabling EPC Market is poised for substantial growth, with emerging economies at the forefront of this expansion.
Underground Cabling Engineering, Procurement, and Construction (EPC) Market Competitive Landscape Analysis
Underground Cabling Engineering, Procurement, and Construction (EPC) Market is witnessing intensifying competition among global infrastructure firms, utility service providers, and regional contractors. Nearly 63% of the market share is dominated by established leaders, while 37% is contributed by smaller enterprises. This competitive environment promotes innovation, adaptive strategies, and strong collaboration, ensuring steady growth in power distribution and urban infrastructure projects.
Market Structure and Concentration
The market demonstrates a semi-consolidated structure, with about 62% controlled by multinational EPC firms specializing in energy and transmission projects. Smaller companies contribute 38%, focusing on localized cabling and cost-efficient solutions. Frequent merger actions and strategic partnerships expand project capabilities and service networks. This structure supports growth while reinforcing collaboration across large-scale infrastructure initiatives.
Brand and Channel Strategies
Around 65% of companies emphasize brand credibility by focusing on reliability, safety, and compliance with utility standards. Distribution and service models rely on partnerships with government agencies, utilities, and private developers. Nearly 36% of firms implement digital strategies to enhance project management and customer engagement. These approaches ensure expansion and strengthen long-term growth in EPC services.
Innovation Drivers and Technological Advancements
Nearly 72% of firms prioritize innovation in trenchless cabling, smart grid integration, and advanced insulation materials. Technological advancements in monitoring systems, AI-based project planning, and automation improve efficiency and safety. Around 48% of companies engage in R&D collaboration with technology providers and engineering institutes. These efforts foster growth and build strategic partnerships in infrastructure modernization.
Regional Momentum and Expansion
Asia-Pacific accounts for nearly 46% of the market, driven by large-scale infrastructure expansion and rapid urbanization. Europe represents about 32%, focusing on modernization and sustainable cabling solutions with strong collaboration. North America contributes 22%, emphasizing underground grid upgrades and project partnerships. Regional strategies integrating compliance, innovation, and investment sustain market growth.
Future Outlook
The future outlook underscores continuous innovation, with nearly 63% of companies investing in digital EPC platforms, eco-friendly materials, and smart monitoring systems. Expanding collaboration and government partnerships will strengthen adoption and competitiveness. Around 55% of forecasted growth will be shaped by technological advancements and regional expansion, ensuring the long-term resilience of the underground cabling EPC market.
Key players in Underground Cabling Engineering, Procurement, and Construction (EPC) Market include:
- Prysmian Group
- Nexans
- Siemens (Siemens Energy)
- Sumitomo Electric Industries
- ABB
- KEC International
- Kalpataru Power Transmission Ltd.
- Arteche
- Polycab
- ZTT (Zhongtian Technology / ZTT Group)
- MasTec
- APAR Industries
- Gupta Power
- ATLAS Incinerators ApS** (Note: not core but appears in some reports)**
- CEPCO (Civil & Electrical Projects Contracting Company)
In this report, the profile of each market player provides following information:
- Market Share Analysis
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Configuration
- Market Snapshot, By Voltage Level
- Market Snapshot, By Construction
- Market Snapshot, By Insulation
- Market Snapshot, By Installation
- Market Snapshot, By Region
- Underground Cabling Epc Market
- Drivers, Restraints and Opportunities
- Drivers
- Rising Demand for Reliable Power Transmission
- Urbanization and Infrastructure Development
- Restraints
- High Installation Costs
- Permitting and Regulatory Challenges
- Skilled Labor Shortage
- Opportunities
- Technological Advancements
- Focus on Renewable Energy Integration
- Growth in Emerging Economies
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
-
Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Underground Cabling Engineering, Procurement, and Construction (EPC) Market, By Configuration, 2021 - 2031 (USD Million)
- Single Core
- Three Core
- Underground Cabling Engineering, Procurement, and Construction (EPC) Market, By Voltage Level, 2021 - 2031 (USD Million)
- High Tension
- Low Tension
- Super Tension
- Extra High Tension
- Extra Super Voltage
- Ultra-High Tension
- Underground Cabling Engineering, Procurement, and Construction (EPC) Market, By Construction, 2021 - 2031 (USD Million)
- Screened
- Belted
- Pressure
- Underground Cabling Engineering, Procurement, and Construction (EPC) Market, By Insulation, 2021 - 2031 (USD Million)
- XLPE
- PVC
- Rubber
- Underground Cabling Engineering, Procurement, and Construction (EPC) Market, By Installation, 2021 - 2031 (USD Million)
- Direct Buried
- Trough
- Tunnels
- GILs
- Underground Cabling Epc Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Underground Cabling Engineering, Procurement, and Construction (EPC) Market, By Configuration, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Prysmian Group
- Nexans
- Siemens (Siemens Energy)
- Sumitomo Electric Industries
- ABB
- KEC International
- Kalpataru Power Transmission Ltd.
- Arteche
- Polycab
- ZTT (Zhongtian Technology / ZTT Group)
- MasTec
- APAR Industries
- Gupta Power
- ATLAS Incinerators ApS** (Note: not core but appears in some reports)**
- CEPCO (Civil & Electrical Projects Contracting Company)
- Company Profiles
- Analyst Views
- Future Outlook of the Market

