지하 전선 및 케이블 시장 규모, 점유율, 성장 및 세계 산업 분석 : 유형별, 용도별, 지역별 인사이트 및 예측(2024-2032년)

Growth Factors of underground wires and cables Market

The global underground wires and cables market is experiencing substantial growth due to urbanization, infrastructure development, and renewable energy integration. The market was valued at USD 32.87 billion in 2024 and is projected to increase to USD 34.90 billion in 2025, eventually reaching USD 58.49 billion by 2032, reflecting a strong growth trajectory driven by urban expansion, smart city initiatives, and the transition toward sustainable energy solutions.

Market Dynamics and Drivers

Rapid urban growth and large-scale infrastructure projects are key drivers for the underground wires and cables market. As cities expand, the need for reliable and efficient power distribution increases, prompting the adoption of underground cables in residential, commercial, and industrial sectors. Underground cables provide safer and more resilient alternatives to overhead lines, reducing risks associated with storms, lightning, falling trees, and accidental contact. Initiatives such as metro system expansions, railway electrification projects, and low-cost housing development have significantly bolstered demand.

Government-led programs also play a pivotal role. For example, India's Saubhagya and DDUGJY schemes promote rural electrification and grid modernization, further fueling market growth. The emergence of smart grids and renewable energy adoption (solar, wind) necessitates advanced underground cable solutions, including medium-voltage smart cables with integrated fiber optics and HVDC systems. These innovations improve reliability and support the efficient transmission of power from renewable sources.

Market Restraints

Despite strong growth, the market faces challenges due to high installation costs. Underground cabling installation can range from four to fourteen times higher than overhead lines depending on voltage and distance. For example, constructing a 69 kV underground transmission line may cost approximately USD 1.5 million per mile, compared to around USD 285,000 per mile for an overhead equivalent. Such costs can hinder rapid deployment, particularly in emerging markets.

Opportunities

Technological advancements, particularly the integration of smart grid technology, offer significant opportunities. Smart grids facilitate real-time monitoring, predictive analytics, and automated control, enabling the efficient management of intermittent renewable energy sources such as solar, wind, hydro, and geothermal. As renewable energy projects and EV infrastructure expand, especially in urban areas, the demand for underground cables continues to rise due to their space efficiency, safety, and reliability.

Market Segmentation

By type, the market is divided into power cables and communication cables. Power cables dominate, largely driven by urban and smart city development, where underground installation reduces visual pollution, maximizes space, and ensures public safety.

By end-user, the market segments include residential, commercial, industrial, and utility sectors. Utilities remain the dominant end-user segment, as underground cables reduce exposure to hazards, making them a preferred solution in densely populated and disaster-prone regions.

Regional Analysis

Europe leads the global market, accounting for 49.34% of the share in 2024, driven by renewable energy initiatives and offshore wind and solar projects. The EU Green Deal and carbon neutrality targets for 2050 are major catalysts for investment in robust underground cabling systems.

North America's growth is fueled by renewable energy projects and smart grid adoption, aligned with the U.S. goal of 100% carbon-free electricity by 2035. Underground cables reduce risks linked to wildfires and downed power lines, supporting safe and reliable energy transmission.

The Asia Pacific region is the fastest-growing market due to rapid urbanization and infrastructure upgrades, while Latin America benefits from smart city development, industrial parks, and renewable energy expansion. In the Middle East & Africa, 5G deployment, fiber optic expansion, and government infrastructure initiatives in countries like Saudi Arabia drive demand.

Competitive Landscape

Leading companies include Prysmian Group (U.S.), Furukawa Electric Co., Ltd. (Japan), Sumitomo Electric Industries (Japan), Ducab (Dubai), Nexans (France), and ABB Group (Switzerland). These players focus on technological innovation, high-voltage and submarine cable solutions, smart grid integration, and strategic investments to strengthen their global presence.

Key developments include Sumitomo Electric's acquisition of Sudkabel in Germany (2024) to produce 525 kV HVDC cables, and Hellenic Cables Americas' new plant in Baltimore (2024) supported by the U.S. Department of Energy. Additionally, RTE's 2024 contract with Prysmian, Nexans, and NKT-SolidAl involves the supply of 5,200 km of underground cables valued at USD 1.16 billion.

Conclusion

With a market size of USD 32.87 billion in 2024, projected to reach USD 34.90 billion in 2025, and anticipated to grow to USD 58.49 billion by 2032, the global underground wires and cables market is poised for strong growth. Driven by urbanization, renewable energy adoption, smart grid technology, and the need for safer, more reliable infrastructure, the sector presents significant opportunities for manufacturers, investors, and policymakers worldwide.

Segmentation By Type

• Power Cable
• Communication Cable

By End-User

• Residential
• Commercial
• Industrial
• Utility

By Region

• North America (By Type, By End-User, By Country)
  • U.S. (By End-User)
  • Canada (By End-User)
• Europe (By Type, By End-User, By Country)
  • U.K. (By End-User)
  • Germany (By End-User)
  • France (By End-User)
  • Italy (By End-User)
  • Spain (By End-User)
  • Russia (By End-User)
  • Rest of Europe (By End-User)
• Asia Pacific (By Type, By End-User, By Country)
  • China (By End-User)
  • India (By End-User)
  • Japan (By End-User)
  • Australia (By End-User)
  • Southeast Asia (By End-User)
  • Rest of Asia Pacific (By End-User)
• Latin America (By Type, By End-User, By Country)
  • Brazil (By End-User)
  • Mexico (By End-User)
  • Rest of Latin America (By End-User)
• Middle East & Africa (By Type, By End-User, By Country)
  • GCC (By End-User)
  • South Africa (By End-User)
  • Rest of Middle East & Africa (By End-User)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions & Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities

4. Key Insights

• 4.1. Key Emerging Trends - For Major Countries
• 4.2. Latest Technological Advancement
• 4.3. Insight on Regolatory Landscape
• 4.4. Porters Five Forces Analysis
• 4.5. Impact of Tariffs on the Global Underground Wires and Cables Market

5. Global Underground Wires and Cables Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 5.1. Key Findings
• 5.2. Market Analysis, Insights, and Forecast - By Type
  • 5.2.1. Power Cable
  • 5.2.2. Communication Cable
• 5.3. Market Analysis, Insights, and Forecast - By End User
  • 5.3.1. Residential
  • 5.3.2. Commercial
  • 5.3.3. Industrial
  • 5.3.4. Utility
• 5.4. Market Analysis, Insights, and Forecast - By Region
  • 5.4.1. North America
  • 5.4.2. Europe
  • 5.4.3. Asia Pacific
  • 5.4.4. Latin America
  • 5.4.5. Middle East and Africa

6. North America Underground Wires and Cables Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 6.1. Key Findings
• 6.2. Market Analysis, Insights, and Forecast - By Type
  • 6.2.1. Power Cable
  • 6.2.2. Communication Cable
• 6.3. Market Analysis, Insights, and Forecast - By End User
  • 6.3.1. Residential
  • 6.3.2. Commercial
  • 6.3.3. Industrial
  • 6.3.4. Utility
• 6.4. Market Analysis, Insights, and Forecast - By Country
  • 6.4.1. S. Market Analysis, Insights, and Forecast - By End User
    • 6.4.1.1. Residential
    • 6.4.1.2. Commercial
    • 6.4.1.3. Industrial
    • 6.4.1.4. Utility
  • 6.4.2. Canada Market Analysis, Insights, and Forecast - By End User
    • 6.4.2.1. Residential
    • 6.4.2.2. Commercial
    • 6.4.2.3. Industrial
    • 6.4.2.4. Utility

7. Europe Underground Wires and Cables Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 7.1. Key Findings
• 7.2. Market Analysis, Insights, and Forecast - By Type
  • 7.2.1. Power Cable
  • 7.2.2. Communication Cable
• 7.3. Market Analysis, Insights, and Forecast - By End User
  • 7.3.1. Residential
  • 7.3.2. Commercial
  • 7.3.3. Industrial
  • 7.3.4. Utility
• 7.4. Market Analysis, Insights, and Forecast - By Country
  • 7.4.1. U.K. Market Analysis, Insights, and Forecast - By End User
    • 7.4.1.1. Residential
    • 7.4.1.2. Commercial
    • 7.4.1.3. Industrial
    • 7.4.1.4. Utility
  • 7.4.2. Germany Market Analysis, Insights, and Forecast - By End User
    • 7.4.2.1. Residential
    • 7.4.2.2. Commercial
    • 7.4.2.3. Industrial
    • 7.4.2.4. Utility
  • 7.4.3. France Market Analysis, Insights, and Forecast - By End User
    • 7.4.3.1. Residential
    • 7.4.3.2. Commercial
    • 7.4.3.3. Industrial
    • 7.4.3.4. Utility
  • 7.4.4. Italy Market Analysis, Insights, and Forecast - By End User
    • 7.4.4.1. Residential
    • 7.4.4.2. Commercial
    • 7.4.4.3. Industrial
    • 7.4.4.4. Utility
  • 7.4.5. Spain Market Analysis, Insights, and Forecast - By End User
    • 7.4.5.1. Residential
    • 7.4.5.2. Commercial
    • 7.4.5.3. Industrial
    • 7.4.5.4. Utility
  • 7.4.6. Russia Market Analysis, Insights, and Forecast - By End User
    • 7.4.6.1. Residential
    • 7.4.6.2. Commercial
    • 7.4.6.3. Industrial
    • 7.4.6.4. Utility
  • 7.4.7. Rest of Europe Market Analysis, Insights, and Forecast - By End User
    • 7.4.7.1. Residential
    • 7.4.7.2. Commercial
    • 7.4.7.3. Industrial
    • 7.4.7.4. Utility

8. Asia Pacific Underground Wires and Cables Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 8.1. Key Findings
• 8.2. Market Analysis, Insights, and Forecast - By Type
  • 8.2.1. Power Cable
  • 8.2.2. Communication Cable
• 8.3. Market Analysis, Insights, and Forecast - By End User
  • 8.3.1. Residential
  • 8.3.2. Commercial
  • 8.3.3. Industrial
  • 8.3.4. Utility
• 8.4. Market Analysis, Insights, and Forecast - By Country
  • 8.4.1. China Market Analysis, Insights, and Forecast - By End User
    • 8.4.1.1. Residential
    • 8.4.1.2. Commercial
    • 8.4.1.3. Industrial
    • 8.4.1.4. Utility
  • 8.4.2. India Market Analysis, Insights, and Forecast - By End User
    • 8.4.2.1. Residential
    • 8.4.2.2. Commercial
    • 8.4.2.3. Industrial
    • 8.4.2.4. Utility
  • 8.4.3. Japan Market Analysis, Insights, and Forecast - By End User
    • 8.4.3.1. Residential
    • 8.4.3.2. Commercial
    • 8.4.3.3. Industrial
    • 8.4.3.4. Utility
  • 8.4.4. Australia Market Analysis, Insights, and Forecast - By End User
    • 8.4.4.1. Residential
    • 8.4.4.2. Commercial
    • 8.4.4.3. Industrial
    • 8.4.4.4. Utility
  • 8.4.5. Southeast Asia Market Analysis, Insights, and Forecast - By End User
    • 8.4.5.1. Residential
    • 8.4.5.2. Commercial
    • 8.4.5.3. Industrial
    • 8.4.5.4. Utility
  • 8.4.6. Rest of Asia Pacific Market Analysis, Insights, and Forecast - By End User
    • 8.4.6.1. Residential
    • 8.4.6.2. Commercial
    • 8.4.6.3. Industrial
    • 8.4.6.4. Utility

9. Latin America Underground Wires and Cables Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 9.1. Key Findings
• 9.2. Market Analysis, Insights, and Forecast - By Type
  • 9.2.1. Power Cable
  • 9.2.2. Communication Cable
• 9.3. Market Analysis, Insights, and Forecast - By End User
  • 9.3.1. Residential
  • 9.3.2. Commercial
  • 9.3.3. Industrial
  • 9.3.4. Utility
• 9.4. Market Analysis, Insights, and Forecast - By Country
  • 9.4.1. Brazil Market Analysis, Insights, and Forecast - By End User
    • 9.4.1.1. Residential
    • 9.4.1.2. Commercial
    • 9.4.1.3. Industrial
    • 9.4.1.4. Utility
  • 9.4.2. Mexico Market Analysis, Insights, and Forecast - By End User
    • 9.4.2.1. Residential
    • 9.4.2.2. Commercial
    • 9.4.2.3. Industrial
    • 9.4.2.4. Utility
  • 9.4.3. Rest of Latin America Market Analysis, Insights, and Forecast - By End User
    • 9.4.3.1. Residential
    • 9.4.3.2. Commercial
    • 9.4.3.3. Industrial
    • 9.4.3.4. Utility

10. Middle East and Africa Underground Wires and Cables Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 10.1. Key Findings
• 10.2. Market Analysis, Insights, and Forecast - By Type
  • 10.2.1. Power Cable
  • 10.2.2. Communication Cable
• 10.3. Market Analysis, Insights, and Forecast - By End User
  • 10.3.1. Residential
  • 10.3.2. Commercial
  • 10.3.3. Industrial
  • 10.3.4. Utility
• 10.4. Market Analysis, Insights, and Forecast - By Country
  • 10.4.1. GCC Market Analysis, Insights, and Forecast - By End User
    • 10.4.1.1. Residential
    • 10.4.1.2. Commercial
    • 10.4.1.3. Industrial
    • 10.4.1.4. Utility
  • 10.4.2. South Africa Market Analysis, Insights, and Forecast - By End User
    • 10.4.2.1. Residential
    • 10.4.2.2. Commercial
    • 10.4.2.3. Industrial
    • 10.4.2.4. Utility
  • 10.4.3. Rest of MEA Market Analysis, Insights, and Forecast - By End User
    • 10.4.3.1. Residential
    • 10.4.3.2. Commercial
    • 10.4.3.3. Industrial
    • 10.4.3.4. Utility

11. Competitive Analysis

• 11.1. Company Market Share Analysis, 2024
• 11.2. Company Profile
  • 11.2.1. Furukawa Electric Co., Ltd.
    • 11.2.1.1. Business Overview
    • 11.2.1.2. Product and Service Offerings
    • 11.2.1.3. Recent Developments
    • 11.2.1.4. Financials (Based on Availability)
  • 11.2.2. Sumitomo Electric Industries, Ltd.
    • 11.2.2.1. Business Overview
    • 11.2.2.2. Product and Service Offerings
    • 11.2.2.3. Recent Developments
    • 11.2.2.4. Financials (Based on Availability)
  • 11.2.3. Ducab
    • 11.2.3.1. Business Overview
    • 11.2.3.2. Product and Service Offerings
    • 11.2.3.3. Recent Developments
    • 11.2.3.4. Financials (Based on Availability)
  • 11.2.4. ABB Group
    • 11.2.4.1. Business Overview
    • 11.2.4.2. Product and Service Offerings
    • 11.2.4.3. Recent Developments
    • 11.2.4.4. Financials (Based on Availability)
  • 11.2.5. Nexans
    • 11.2.5.1. Business Overview
    • 11.2.5.2. Product and Service Offerings
    • 11.2.5.3. Recent Developments
    • 11.2.5.4. Financials (Based on Availability)
  • 11.2.6. LS Cable and Systems
    • 11.2.6.1. Business Overview
    • 11.2.6.2. Product and Service Offerings
    • 11.2.6.3. Recent Developments
    • 11.2.6.4. Financials (Based on Availability)
  • 11.2.7. Elsewedy Electric
    • 11.2.7.1. Business Overview
    • 11.2.7.2. Product and Service Offerings
    • 11.2.7.3. Recent Developments
    • 11.2.7.4. Financials (Based on Availability)
  • 11.2.8. NKT Cables
    • 11.2.8.1. Business Overview
    • 11.2.8.2. Product and Service Offerings
    • 11.2.8.3. Recent Developments
    • 11.2.8.4. Financials (Based on Availability)
  • 11.2.9. TFKable
    • 11.2.9.1. Business Overview
    • 11.2.9.2. Product and Service Offerings
    • 11.2.9.3. Recent Developments
    • 11.2.9.4. Financials (Based on Availability)
  • 11.2.10. Zhenglan Cable
    • 11.2.10.1. Business Overview
    • 11.2.10.2. Product and Service Offerings
    • 11.2.10.3. Recent Developments
    • 11.2.10.4. Financials (Based on Availability)
  • 11.2.11. Dow Inc.
    • 11.2.11.1. Business Overview
    • 11.2.11.2. Product and Service Offerings
    • 11.2.11.3. Recent Developments
    • 11.2.11.4. Financials (Based on Availability)
  • 11.2.12. Finolex Cables
    • 11.2.12.1. Business Overview
    • 11.2.12.2. Product and Service Offerings
    • 11.2.12.3. Recent Developments
    • 11.2.12.4. Financials (Based on Availability)
  • 11.2.13. Paraflex Wires and Cables
    • 11.2.13.1. Business Overview
    • 11.2.13.2. Product and Service Offerings
    • 11.2.13.3. Recent Developments
    • 11.2.13.4. Financials (Based on Availability)
  • 11.2.14. Havells
    • 11.2.14.1. Business Overview
    • 11.2.14.2. Product and Service Offerings
    • 11.2.14.3. Recent Developments
    • 11.2.14.4. Financials (Based on Availability)
  • 11.2.15. SSGCable
    • 11.2.15.1. Business Overview
    • 11.2.15.2. Product and Service Offerings
    • 11.2.15.3. Recent Developments
    • 11.2.15.4. Financials (Based on Availability)