Asia Pacific MV and HV Underground Cables and Accessories Market Report and Forecast 2025-2034

Asia Pacific MV and HV underground cables and accessories market is expected to grow at a CAGR of 7.30% during the period 2025-2034. The market is expected to be driven by a surge in renewable energy, increased usage of interconnectors and submarine cables, building of urban substations in "mega-cities," and growing public opposition to new overhead line projects.

Market in the Region Likely to be Driven by Increased Focus on Renewable Energy and Development of Transmission and Distribution Networks

Underground cables provide a cost-effective and maintainable alternative for crucial segments (as well as full length in a few cases) of power transmission and distribution lines, as well as the full length of some lines. Underground cables can have a low environmental impact if proper equipment is employed in the right places. Electricity is transmitted and delivered using either an overhead or an underground cable system. A cable is an insulated conductor that is used for underground electrical transmission and distribution. A cable is a bundle of one or several conductors, each with its own insulation, separate covers, assembly protection, and protective coverings.

Insulation protects the conductor by covering it and isolating it from the environment. Underground cables are commonly used in densely populated areas and areas with high automobile density, like cities and metros, high-rise commercial and residential buildings, and places where critical installations of uninterrupted power supply, such as water supply systems, hospitals, and IT services, are located. Underground cables are also used in factories, substations, railways, and road crossings, as well as in the maintenance of residential installations and other comparable sites. Where overhead installation is impractical, underground cables are used for transmission and distribution of electric power. Such locations could include congested areas where right-of-way costs are prohibitive or municipal ordinances ban overhead lines for safety reasons, or around plants and substations or crossings over large bodies of water where overhead crossings are prohibited for different reasons.

Advanced Solutions and Increased Demand for Better Environment Expected to Boost Asia Pacific MV and HV Underground Cables and Accessories Market

Several solutions have been developed to allow utilities to expand their capacity without having to contend with right-of-way (RoW) clearances. The use of underground cables has become a new technology trend. Cross-linked polyethylene (XLPE) and Gas Insulated Cables (GILs) have been developed for high-voltage transmission networks. In several parts of Asia, increasing consumer demand for a better environment and superior system reliability has resulted in increased demand for undergrounding.

Government Initiatives in Countries Like India Expected to Contribute to Market Growth

In India, the government has been emphasizing development and enhancement of transmission and distribution networks. Several schemes have been introduced by the government to this end. Such initiatives have resulted in the creation of a market for cables and conductors in the country. Continued investments by the government through various schemes are expected to boost the market during the forecast period. Apart from government initiatives, a key driver would be the shift towards HV (high voltage) transmission lines. Demand would increase due to the creation of high voltage long distance corridors aimed at delivering electricity to high demand areas and the development of green energy corridors for integrating the increasing share of renewable energy into the grid.

Growth of Smart Grid Technologies is Expected to Stimulate the Market

With growth of smart grid technologies and the increase in renewable energy capacity, specialized cables are being designed. For example, MV (medium voltage) smart cables that integrate optical fibre cable with power cables, are preferred for smart grid applications. Thus, growth of smart grid technologies is expected to stimulate the Asia Pacific MV and HV underground cables and accessories market.

Market Segmentation

The EMR’s report titled “Asia Pacific MV and HV Underground Cables and Accessories Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Cable Type

  

Medium Voltage 1kV–15kV 15kV-36kV 36kV-69kV

  

High Voltage 69kV-230kV 230kV-500kV Above 500kV

• Accessories Type

  

Cable Joints

  

Terminators

  

Connectors

  

Clamps

  

Others

Market Breakup by End User

• Utility
• Oil and Gas
• Mining
• Renewables
• Transportation
• Others

Market Breakup by Region

• China
• Japan
• India
• ASEAN
• Australia
• Others

Key Industry Players in the Asia Pacific MV and HV Underground Cables and Accessories Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Gloster Cables Limited
• Sterlite Power
• Bhuwal Insulation Cable Pvt. Ltd.
• Sumitomo Electric Industries, Ltd.
• Federal Power Sdn Bhd
• ZTT
• Jiangnan Group Limited
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model
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