Cable & Accessories Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Voltage, By Installation, By End User, By Region & Competition, 2021-2031F

The Global Cable & Accessories Market is projected to expand from USD 69.68 Billion in 2025 to USD 96.68 Billion by 2031, achieving a compound annual growth rate of 5.61%. This sector encompasses the production and distribution of insulated conductors used for signal communication and power transmission, along with essential components such as terminations, connectors, and joints. The market is primarily propelled by the urgent need for global energy transition and grid modernization, which demands extensive high-voltage interconnections to integrate renewable energy sources. The industry's vitality is reflected in the National Electrical Manufacturers Association (NEMA) report from August 2025, where the Electroindustry Business Confidence Index rose to 59.1, indicating strong demand and resilience within the electrical manufacturing landscape.

However, market growth faces significant headwinds due to persistent volatility in raw material prices, specifically for copper and aluminum. These price fluctuations create financial instability for manufacturers and contractors, complicating project pricing and threatening profit margins. Furthermore, the expansion of the market is frequently hindered by rigorous regulatory permitting processes for new infrastructure, which often cause delays in executing large-scale transmission and distribution upgrades that are critical for broader market development.

Market Driver

The rapid surge in renewable energy generation and its integration into the grid acts as a major market catalyst, requiring the widespread deployment of high-voltage interconnectors to transmit electricity from remote generation sites to consumption centers. This driver compels utilities to upgrade aging transmission infrastructure by increasing their procurement of advanced subsea cabling systems and insulated conductors capable of managing variable renewable loads. The scale of this investment is highlighted by the International Energy Agency's 'World Energy Investment 2024' report from June 2024, which projected global electricity grid investments to reach USD 400 billion in 2024, directly linking financial commitment to increased manufacturing orders for grid stability components.

Simultaneously, the growth of 5G telecommunications networks and hyperscale data centers is fueling demand for high-capacity fiber optic and power cables. As technology corporations build infrastructure to support artificial intelligence, the physical requirements for data transmission and power delivery within these facilities have intensified. This sector-specific expansion is illustrated by Google's April 2024 press release announcing a USD 2 billion investment to establish a data center campus in Indiana. The cumulative impact of these drivers is evident in manufacturer order books, such as Prysmian's 'First Half 2024 Results' presentation in August 2024, which reported a backlog of approximately EUR 18 billion, reflecting sustained supply chain pressure to deliver essential cable infrastructure.

Market Challenge

The continuous volatility in raw material prices, particularly for aluminum and copper, serves as a severe obstacle to the Global Cable & Accessories Market's growth. Manufacturers and contractors struggle to establish accurate project pricing when input costs fluctuate unpredictably between the bidding and execution phases. This financial instability erodes profit margins and forces companies to include substantial risk premiums in their quotes. Consequently, developers and utilities often delay or reconsider large-scale infrastructure investments due to budget uncertainties, which directly slows the pace of grid modernization projects required for market expansion.

The market's sensitivity to these cost dynamics is exacerbated by the immense volume of material needed to meet rising global demand. In January 2025, the International Aluminium Institute (IAI) reported that global primary aluminum production reached approximately 73 million tonnes for the full year of 2024, representing a 3% year-on-year increase. These high volumes indicate a supply chain under constant pressure, where even minor price shifts can result in massive aggregate cost variances, thereby complicating long-term financial planning and deterring the capital commitment necessary for sustained industry growth.

Market Trends

The accelerated adoption of underground cabling solutions is reshaping the market as utilities prioritize grid resilience against extreme weather events. Unlike vulnerable overhead lines, underground systems offer superior reliability during storms, prompting regulators to approve massive capital programs for burying distribution networks, particularly in hurricane-prone regions where minimizing outage duration is critical. For instance, Florida Power & Light Company noted in a March 2025 press release titled 'FPL's continued grid investments lead to best overall service reliability in 2024' that the completion of 3,000 Storm Secure Underground Program projects since 2019 directly contributed to record grid performance during severe weather.

Concurrently, the industry is undergoing a decisive shift towards High-Voltage Direct Current (HVDC) transmission systems to facilitate efficient long-distance power transfer. HVDC technology is increasingly preferred for connecting remote renewable generation and establishing inter-regional supergrids due to its lower transmission losses compared to alternating current. This technological transition is driving record demand for specialized high-voltage cables capable of withstanding extreme electrical and thermal stresses. The scale of this demand is evidenced by NKT A/S in their 'Interim Report Q3 2025' from November 2025, which announced a high-voltage order backlog of EUR 10.4 billion, underscoring the sustained momentum in large-scale interconnection and offshore cable projects.

Key Market Players

• Nexans S.A.
• NKT A/S
• Dubai Cable Company
• Prysmian Group
• Furukawa electric Co., Ltd.
• Tele-Fonika Kable Group
• LS Cable & System Ltd.
• Sumitomo Electric Industries, Ltd.
• ABB, Ltd.
• Elsewedy Electric

Report Scope

In this report, the Global Cable & Accessories Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Cable & Accessories Market, By Voltage

• Low
• Medium
• High

Cable & Accessories Market, By Installation

• Overhead
• Underground

Cable & Accessories Market, By End User

• Industrial
• Renewables

Cable & Accessories Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Cable & Accessories Market.

Available Customizations:

Global Cable & Accessories Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).