Underground Cabling EPC Market By Product Type (Medium Voltage Cabling, High Voltage Cabling, Low Voltage Cabling), By End-Use Industry (Power Transmission & Distribution, Telecommunications, Renewable Energy, Oil & Gas), By Installation Type (Underground Power Cabling, Underground Communication Cabling, Hybrid Cabling), and By Region; Global Insights & Forecast (2023 – 2030)

As per Intent Market Research, the Underground Cabling EPC Market was valued at USD 20.3 Billion in 2024-e and will surpass USD 27.9 Billion by 2030; growing at a CAGR of 5.4% during 2025-2030.

The Underground Cabling EPC (Engineering, Procurement, and Construction) market is witnessing significant growth, fueled by the increasing demand for efficient and reliable power transmission and communication infrastructure. With urbanization expanding globally, the need for underground cabling solutions that ensure reliable power supply and communication networks in congested areas has become essential. The market is poised for further expansion, driven by advancements in technology, increasing energy demand, and the push for greener, sustainable energy solutions.

As urban centers grow, the demand for underground cabling solutions for power transmission, telecommunications, and renewable energy integration increases, making it a critical part of modern infrastructure. Below, we explore the largest and fastest-growing subsegments within this market.

Medium Voltage Cabling Segment is Largest Owing to Increased Demand for Reliable Power Distribution

The Medium Voltage Cabling segment holds the largest share in the Underground Cabling EPC market, driven by its critical role in distributing electricity between high-voltage substations and end consumers. Medium voltage cabling systems are commonly used in urban infrastructure projects, including residential areas, commercial buildings, and public spaces, where underground cabling is preferred due to space constraints and aesthetic considerations. These systems typically operate in the range of 1 kV to 72 kV, making them ideal for urban and suburban power distribution.

The demand for medium voltage cabling is further bolstered by the growing focus on enhancing the reliability and stability of electrical networks, especially in developing regions. As countries continue to invest in urbanization, medium voltage underground cabling solutions remain essential to meet the energy needs of expanding populations. Additionally, medium voltage cabling is increasingly used in renewable energy projects, where the need to connect solar farms and wind turbines to the grid is rising.

Power Transmission & Distribution Industry is Largest Due to Infrastructure Development

The Power Transmission & Distribution (T&D) industry is the largest end-user segment in the Underground Cabling EPC market, accounting for a significant portion of the demand for underground cabling solutions. This industry is essential for transmitting and distributing electricity from power plants to end-users, and the need for underground systems has grown as urban populations increase and the demand for reliable, uninterrupted power supply intensifies. Underground power cabling offers a more reliable and less visually intrusive alternative to overhead lines, which can be prone to weather disruptions and damage.

The growth in the power T&D industry is driven by infrastructure upgrades and the increasing adoption of smart grids, which require advanced underground cabling technologies to ensure efficiency and reduce transmission losses. Moreover, many governments and utilities are focusing on enhancing the resilience of their infrastructure, particularly in regions prone to extreme weather conditions, further boosting demand for underground cabling solutions.

Underground Power Cabling Segment is Fastest Growing Owing to Urbanization and Aesthetic Preferences

The Underground Power Cabling segment is the fastest-growing subsegment in the market, driven by the rapid urbanization and the need for more visually appealing and safer infrastructure solutions. Underground power cabling is increasingly preferred in urban and suburban areas, where space limitations and environmental concerns make overhead cabling impractical. This type of cabling ensures that power lines are hidden from view, maintaining the aesthetic quality of the surroundings, particularly in densely populated areas or regions with scenic landscapes.

In addition to aesthetic benefits, underground power cabling reduces the risk of power outages caused by weather-related events such as storms and high winds. As cities continue to expand and governments invest in modernizing their infrastructure, the demand for underground power cabling solutions is expected to increase, driving the market forward. The rising adoption of renewable energy sources, which often require underground connections to integrate with the grid, also contributes to the growth of this subsegment.

Asia-Pacific Region is the Fastest Growing Due to Infrastructure Investments

The Asia-Pacific (APAC) region is the fastest-growing market for Underground Cabling EPC services, driven by rapid urbanization, infrastructure development, and increasing investments in power transmission and distribution networks. Countries such as China, India, and Japan are investing heavily in expanding their urban infrastructure, which includes the widespread adoption of underground cabling solutions for power and communication systems. The growing demand for renewable energy integration, particularly in China and India, is also a key driver of this growth.

The shift toward smart cities in the APAC region is another factor contributing to the rapid adoption of underground cabling solutions. Governments and private sector players are increasingly focusing on improving the resilience and reliability of energy and communication networks, which is further propelling the demand for underground cabling systems. As a result, APAC is expected to witness significant growth in the Underground Cabling EPC market in the coming years.

Leading Companies and Competitive Landscape

The Underground Cabling EPC market is highly competitive, with a mix of global and regional players providing comprehensive solutions in underground power and communication cabling. Leading companies in this market include General Electric (GE), Siemens AG, Schneider Electric, ABB Ltd., and Prysmian Group, which have strong portfolios in power transmission and distribution as well as renewable energy cabling solutions. These companies are focusing on technological innovations, such as high-efficiency cabling systems and environmentally friendly materials, to cater to the growing demand for underground cabling solutions.

The competitive landscape is marked by strategic partnerships, mergers, and acquisitions, with companies aiming to expand their geographical reach and enhance their technological capabilities. Companies are also actively involved in the research and development of new products to stay ahead of the competition, meeting the needs of various industries, including power generation, telecommunications, and renewable energy. As the market continues to grow, these companies are likely to adopt more sustainable practices and offer integrated solutions to address the evolving needs of urbanization and infrastructure development.

Recent Developments:

• Siemens AG launched a new innovative underground cabling solution for high-voltage transmission that reduces installation time by 30%, improving efficiency for urban infrastructure projects.
• Prysmian Group entered a strategic partnership with a leading utility company to provide underground cabling systems for a large-scale offshore wind farm project in Europe.
• General Electric (GE) completed the acquisition of a key underground cabling installation firm, strengthening its position in the renewable energy sector and expanding its EPC service offerings globally.
• Schneider Electric announced the rollout of a new energy-efficient underground cabling system, designed for use in smart cities and industrial applications, further supporting the transition to green energy.
• ABB Ltd. signed a major contract with a Middle Eastern government to deliver underground cabling solutions as part of a national infrastructure upgrade project aimed at enhancing power distribution networks.

List of Leading Companies:

• General Electric (GE)
• Siemens AG
• Schneider Electric
• ABB Ltd.
• Eaton Corporation
• Mitsubishi Electric Corporation
• Toshiba Corporation
• Nexans S.A.
• Prysmian Group
• Sumitomo Electric Industries, Ltd.
• Southwire Company, LLC
• LS Cable & System
• Sterlite Power
• KEI Industries Ltd.
• ZTT International Limited

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