"Actionable Insights to Fuel Your Growth"

Asia Pacific MV and HV Underground Cables and Accessories Market Size, Share & COVID-19 Impact Analysis, By Type (Cable Type {Medium Voltage [1kV–15kV, 15kV-36kV, 36kV-69kV] and High Voltage [69kV-230kV, 230kV-500kV, above 500kV]} and Accessories Type {Cable Joints, Terminators, Connectors, Clamps, and Others}) By End-User (Utility, Oil & Gas, Mining, Renewables, Transportation, and Others), and Country Forecast, 2020-2032

Last Updated: May 13, 2024 | Format: PDF | Report ID: FBI104594



Play Audio Listen to Audio Version

The Asia Pacific MV and HV underground cables and accessories market size was valued at USD 4.40 billion in 2019 and is expected to reach USD 11.70 billion by 2032, exhibiting a CAGR of 8.12% during the forecast period.

Various types of medium voltage (MV) and high voltage (HV) cables and accessories are widely integrated into the power transmission & distribution (T&D) networks across numerous industry verticals to support efficient electricity transfer between locations. The cables are manufactured with advanced materials equipped with enhanced insulation abilities to withstand weather fluctuations in different locations. Consequently, medium and high power lines are being increasingly installed in underground locations to avoid exposure to severe weather conditions such as storms and lightning to ensure reliable power supply to customers.

Constrained Operations amid COVID-19 to Affect MV and HV Underground Cables and Accessories Industry Expansion

The health and economic emergency caused by the sudden outbreak of the COVID-19 pandemic has significantly dented various commercial and industrial operations. The halt in regular functions has considerably declined power demand worldwide since the beginning of the current year, affecting utility companies' functioning and revenues. As a result, the MV and HV underground cables and accessories market growth has been hindered due to the lack of investments influenced by the limited demands of several end-user industries.

For example, the shutdown of operations across different industrial verticals has led to a significant decline in electricity demand from various sectors, affecting the overall industry landscape. In December 2020, the International Energy Agency (IEA) stated that the total electricity demand across China in February 2020 was about 13.1% lower than the corresponding period last year. The virus originated in China, and the country imposed strict lockdown measures in January 2020 to contain the spread at its peak time.


Request a Free sample to learn more about this report.

Favorable Initiatives to Expand Electricity Networks in Remote Locations to Shape Market Dynamics

Various governments and organizations have unveiled their plans to upgrade and amplify the reach of power infrastructures in distant areas. Administrations are focused on developing their electricity infrastructure to establish a reliable power supply network and are simultaneously introducing new policies and investment opportunities to support the transition. For instance, in February 2020, the Indian government introduced the Union Budget 2020-21 with a substantial amount of about USD 2.3 billion dedicated to the Ministry of Power. The administration also stated that it had provided an extra sum of over USD 786 million to the National Rural Electrification Scheme called the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY).

Product Advancements by Leading Players to Modernize Supply Networks will Complement Growth Pace of the Market

Increasing efforts by market participants to launch efficient and innovative products are likely to intensify the competitive landscape and propel the Asia Pacific MV and HV underground cables and accessories market growth. These companies are striving to introduce new alternatives with enhanced fault detection methods and effective operations under harsh underground conditions. For example, in August 2020, Sumitomo Electric collaborated with TEPCO Power Grid, Inc. to fabricate the first remote cable monitoring system equipped with sensor-based technologies that can operate the current underground power transmission lines.

Report Scope & Segmentation

Asia Pacific MV and HV Underground Cables and Accessories Market Scope

Report Coverage


Forecast Period

2020 to 2027

Forecast Period 2020 to 2027 CAGR


2027 Value Projection

USD 7.73 Billion

Base Year


Market Size in 2019

USD 4.4 Billion

Historical Data for

2016 to 2018

No. of Pages


Tables, Charts & Figures


Segments covered

Type, End-User and and Country

Growth Drivers

Favorable Initiatives to Expand Electricity Networks in Remote Locations to Shape Market Dynamics

Product Advancements by Leading Players to Modernize Supply Networks will Complement Growth Pace of the Market

Exponential Growth in Energy Demand & Setting up of New Transmission Lines to Fuel the Market

Growing Adoption of Green Energy Technologies to Open New Paradigms for Market Expansion

Pitfalls & Challenges

High Initial Capital Investment to Place Underground Cables May Obstruct Growth


Exponential Growth in Energy Demand & Setting up of New Transmission Lines to Fuel the Market

Emerging economies in Asia Pacific have been showcasing a promising surge in energy consumption over the past several years, underpinned by rapid industrialization and urbanization. Consequently, different public and private establishments have been making substantial investments to boost the region’s energy infrastructure to serve the increasing power needs. For instance, in July 2020, the IEA stated that the overall investment in power infrastructure across Indonesia totaled about USD 12.7 billion in 2019, rising from around USD 10.6 billion in 2017. It further revealed that in 2019, about 38.6% of the total amount was devoted to renovating power links in the country.

Growing Adoption of Green Energy Technologies to Open New Paradigms for Market Expansion

Low-carbon power generation technologies are one of the fastest-growing methods implemented to cut the harmful greenhouse gas (GHG) discharges from power generation units. Different global organizations have introduced ambitious targets as well as stringent policies to keep a check on the overall carbon footprint. For example, in September 2015, South Australia's government unveiled its investment plans to place around AUD 10 billion to facilitate the setup of low-carbon energy generation technologies by 2025. The guidelines include several objectives, such as 50% of the state’s electricity production is to be contributed through renewable resources by the target year.


High Initial Capital Investment to Place Underground Cables May Obstruct Growth

The need for substantial capital costs to lay cables in underground locations may dampen the MV and HV underground cables and accessories market prospects. Placing an underground cable necessitates a list of additional procedures, such as excavating deep horizontal tunnels and essential large pieces of land to conduct the operations, limiting its installation potential in certain locations. Furthermore, it is also difficult to perform maintenance and repair works on underground lines as compared to the overhead lines due to the difficulties in locating the exact fault location from the surface.


By Type Analysis

Medium Voltage Underground Cable Type to Hold the Largest Market Share

Based on type, the Asia Pacific MV and HV underground cables and accessories market is broadly divided into cable type and accessories type. The cable-type segment is further sub-categorized into medium voltage and high voltage, followed by further classifications. In contrast, the accessories segment is grouped into cable joints, terminators, connectors, clamps, etc. The medium voltage cables segment is expected to account for a substantial portion of the market due to the speedily developing residential and commercial sectors coupled with the setting up of new, small industrial facilities.

Furthermore, the cable joint accessories segment is anticipated to observe positive growth due to the indispensable need for joining different cables for effectively running them in underground locations. The 230 kV – 500 kV high-voltage cable sub-segment is projected to experience significant expansion owing to the financial support from various administrations to establish new medium and large businesses and distance electrification initiatives.

By End-User Analysis

To know how our report can help streamline your business, Speak to Analyst

Renewables End-user Segment to Exhibit the Highest Growth Rate over the Forecast Period

On the basis of end-users, this market can be categorized into utility, oil & gas, mining, renewables, transportation, and others. The renewables segment is likely to experience considerable evolution due to favorable policies, rising investment opportunities, and ambitious government targets.

The oil & gas segment is poised to grow significantly owing to the discovery of new hydrocarbon reserves along with the presence of high-capacity reservoirs.

The growth of the transportation segment is backed by the increasing expenditures and proliferation of charging infrastructures to support electronic mobility over long stretches.


The market has been analyzed across twelve key geographies operating across the region, namely, China, India, Japan, Australia, Indonesia, Thailand, Malaysia, Singapore, the Philippines, South Korea, Vietnam, and the Rest of Asia Pacific. China is expected to dominate the Asia Pacific MV and HV underground cables and accessories market share due to the country’s major shift towards clean energy deployment, positive plans for hydrocarbon exploration & production activities, and transformation of industrial infrastructures.

Furthermore, India is also expected to grow at a steady rate due to substantial rural electrification policies & opportunities, rising metal mining and production rates, and frequent power outage problems. For instance, in October 2020, Mumbai faced a sizable power loss, disturbing the city's electricity and water supply networks. The state’s energy minister specified that a technical glitch caused the outage at the government-owned transmission company’s 400 kV supply station.

Continuous up-gradation programs to refurbish and advance transmission & distribution lines are set to propel the South Korea MV and HV underground cables and accessories market. The country’s industrial growth is also attributed to the encouraging electric vehicle deployment initiatives and regular construction of high-capacity power generation plants. In January 2020, for instance, the South Korean Ministry of Commerce, Industry, and Energy declared subsidies over USD 810 million during the present year to boost the demand for electric vehicles (EVs) and improve the charging infrastructures in the country.


Prysmian Group to Focus on Delivering Advanced Products to Fortify Its Global Position

Prysmian Group is a global T&D lines manufacturer and supplier, with a strong portfolio of medium voltage underground cables offered in numerous countries. The company has a strong foothold across different geographies, such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, along with offices in many nations, including South Africa, Australia, France, Brazil, and Mexico.  Furthermore, in May 2020, Prysmian reintroduced its P-Laser high-performance cable technology providing entirely recyclable possibilities for power transmission & distribution, coupled with the potential to reduce carbon footprint by 40%. The special offering is produced using the company’s High-Performance Thermoplastic Elastomer (HPTE) for improved electrical characteristics, easy manufacturing processes, effective performance at elevated temperatures, and lower CO2 emissions than the conventional cross-linked polyethylene (XLPE) material.

The Asia Pacific MV and HV underground cables and accessories market is notably fragmented. A wide number of global, regional, and state-level key players are offering various products & components to diverse industries. These companies are continuously undertaking multiple efforts to establish their position through collaboration initiatives and innovative product launches to maintain their competitive edge.


  • PT KMI Wire and Cable Tbk (Indonesia)

  • PT Supreme Cable Manufacturing and Commerce Tbk (Indonesia)

  • LS-Gaon Cable Myanmar Co. Ltd. (Myanmar)

  • Sumitomo Electric Industries, Ltd. (Japan)

  • Federal Power Sdn Bhd (Malaysia)

  • DNF CABLE SDN BHD (DNF) (Malaysia)

  • PT Voksel Electric Tbk (Indonesia)

  • Sarawak Cable Berhad (Malaysia)

  • Tonn Cable Sdn Bhd (Malaysia)

  • Prysmian Group (Italy)

  • Erawan Electric Wire & Cable Co. Ltd. (Thailand)

  • Charoong Thai Wire & Cable PLC. (Thailand)


  • Keystone Cable (S) Pte Ltd (Singapore)

  • Nexans (France)

  • ZTT (China)


  • Jiangnan Group Limited. (China)

  • Tratos (United Kingdom)

  • Gloster Cables Limited. (India)

  • Sterlite Power (India)

  • Bhuwal Insulation Cable Pvt. Ltd (India)

  • KEI Industries Limited. (India)

  • Power Flex Cables (Australia)

  • Electra Cables (Australia)

  • IL JIN Electric (South Korea)

  • Taihan Electric Wire (South Korea)

  • LS Cable & System (South Korea)


  • July 2020 – Taihan Electric received an order worth about USD 81 million or 95.2 billion Korean Won from the UK’s National Grid to supply 400 kV underground cables and accessories and reinforce London's network under the London Power Tunnels 2 (LPT2) project.

  • April 2020 – Prysmian Group announced the brand integration of its recently acquired company called General Cable Corporation to fortify its product reach and integration. The company’s brand offerings are now categorized into three key divisions – Prysmian, Draka, and General Cable – to serve customers in multiple countries and industry verticals.


An Infographic Representation of Asia Pacific MV and HV Underground Cables and Accessories Market

To get information on various segments, share your queries with us

The Asia Pacific MV and HV underground cables and accessories market research report presents a comprehensive assessment of the market, offering valuable insights, facts, industry-related information, and historical data. Several research methodologies and approaches have been adopted to formulate meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per market segments, helping our readers to get a comprehensive overview of the Asia Pacific industry. 

In-Depth Coverage Of Segmentation

By Type

 Cable Type

    • High Voltage

      • 69kV – 230kV

      • 230kV – 500kV

      • Above 500 kV

    • Medium Voltage

      • 1kV – 15kV

      • 15kV – 36kV

      • 36kV – 69kV

  • Accessories Type

    • Cable Joints

    • Terminators

    • Connectors

    • Clamps

    • Others

By End-User

  • Utility

  • Oil & Gas

  • Mining

  • Renewables

  • Transportation

  • Others

By Country

  • Asia Pacific (By Type, By End-User, and By Country)

    • China (By Type, By End-User)

    • India (By Type, By End-User)

    • Japan (By Type, By End-User)

    • Australia (By Type, By End-User)

    • Indonesia (By Type, By End-User)

    • Thailand (By Type, By End-User)

    • Malaysia (By Type, By End-User)

    • Singapore (By Type, By End-User)

    • The Philippines (By Type, By End-User)

    • South Korea (By Type, By End-User)

    • Vietnam (By Type, By End-User)

    • Rest of Asia Pacific (By Type, By End-User)

Frequently Asked Questions

Fortune Business Insights says that the Asia Pacific MV and HV underground cables and accessories market size was USD 4.40 billion in 2019 and is projected to reach USD 7.73 billion by 2027.

In 2019, the China market value stood at USD 2.29 billion.

Registering a CAGR of 7.7%, the market will exhibit modest growth over the forecast period (2020-2027).

The medium-voltage cable type segment is anticipated to dominate this market during the forecast period.

Growing energy demand, rural electrification policies, and increasing deployment of low-carbon generation technologies are the major factors driving the market's growth.

Prysmian Group, Nexans, Sumitomo Electric, and Kei Industries are key participants operating in this market.

China dominated the market in terms of share in 2019.

The introduction of power supply initiatives in remote areas requires the setting up new transmission & distribution lines, generating new installation opportunities for underground cables and accessories across the globe.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
    (In Process)
  • 2023
    (In Process)

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.