Power Cables Industry (Transmission & Distribution), Global, 2025–2035
Description
This study examines the global power cables industry, analyzing demand drivers, growth trends, and competitive dynamics. Key drivers identified in the study include the continued growth in renewable electricity generation (particularly offshore wind), the aging nature of infrastructure in developed economies, the rise of inter-regional transmission connections, greater access to electricity, extreme weather events, and the conversion of overhead to underground cabling. These drivers are partially offset by restraints such as budgetary constraints, challenges with land acquisition and planning approvals, and slow decision-making. But overall, the growth story for the industry is very strong. Revenues are forecast to increase from $119.5 billion in 2025 to reach $216.8 billion in 2035, making it the largest single component in grid investment over the forecast period. Overhead transmission will account for the largest share of total revenues, as overall project costs will be considerably lower, while underground transmission will grow faster. Subsea will be a smaller overall segment, mainly driven by the adoption of offshore wind.
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