Asia Pacific MV and HV Underground Cables and Accessories Market Report and Forecast 2024-2032

According to the report, the Asia Pacific MV and HV underground cables and accessories market is projected to grow at a CAGR of 7.3% between 2024 and 2032. Aided by the rapid urbanisation, technological advancements, and the escalating need for energy-efficient power solutions, the market is expected to grow significantly by 2032.

Medium and high voltage underground cables play a pivotal role in the transportation of electricity from power generation units to various industries and homes with minimal energy loss. These cables, when combined with their essential accessories, ensure efficient, safe, and reliable power transmission. As urban landscapes become more congested, the appeal of underground cables over their overhead counterparts grows, primarily due to the reduced risk of electrical hazards, aesthetics, and space constraints.

The Asia Pacific region, renowned for its rapid industrialisation and urban development, stands as a significant driver for the Asia Pacific MV and HV underground cables and accessories market growth. Countries like China, India, and Indonesia are witnessing a surge in infrastructure projects, both in commercial and residential sectors, resulting in increased demand for reliable and efficient power transmission systems.

The rising emphasis on renewable energy sources, such as wind and solar farms, further propels the Asia Pacific MV and HV underground cables and accessories market demand. These energy farms often located in remote areas, necessitate the deployment of medium and high voltage underground cables to transfer the generated power to urban hubs.

Moreover, technological advancements in the MV and HV underground cable industry, including enhanced insulation materials and improved installation techniques, are bolstering the market's growth in the region. As energy efficiency and sustainability become central themes in the global discourse, the push for advanced and eco-friendly cables and accessories gains momentum in the Asia Pacific market.

Nonetheless, the growing investments in smart city projects across the Asia Pacific region, coupled with government initiatives to modernise the existing power infrastructure, influence the Asia Pacific MV and HV underground cables and accessories market outlook. Countries are also focusing on reducing their carbon footprint, and the adoption of underground cable systems, with their inherent energy efficiency, plays a part in this endeavour.

Market Segmentation

The market can be divided based on type, end user, and country.

Market Breakup by Type

• Cable Type

o Medium Voltage
 1kV-15kV
 15kV-36kV
 36kV-69kV
o High Voltage
 69kV-230kV
 230kV-500kV
 Above 500kV

• Accessories Type

o Cable Joints
o Terminators
o Connectors
o Clamps
o Others

Market Breakup by End User

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

Market Breakup by Country

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

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Asia Pacific MV and HV underground cables and accessories market. Some of the major players explored in the report are as follows:

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