The global cables and accessories market is set to soar by USD 45.9 billion between 2025 and 2029, registering a CAGR of 5.3%, driven by smart grid modernization and a global push to replace aging overhead lines. As the backbone of power and data infrastructure, cables and accessories are no longer merely support systems—they’re at the heart of an electrified, digital future. In this 2025 Outlook and Strategic Guide, we dissect the driving forces, segment-specific growth, innovation pathways, and competitive strategies shaping this high-voltage landscape.For more details about the industry, get the PDF sample report for free
The increased adoption of smart grids and underground cabling projects is no longer a regional trend—it’s global. Whether it's advanced power distribution in urban China or high-speed data transfer in North America, robust and adaptable cable systems are essential.
Key Market Drivers at a Glance:
Smart Grid Rollouts: Demand for cables enabling real-time monitoring, automated distribution
Underground Cabling Trend: Safety and aesthetics in dense urban zones fuel high-voltage underground cable adoption
Infrastructure Electrification: Railways, renewables, and industrial automation require vast cable networks
Data Center Expansion: Surge in data traffic boosts demand for fiber optic and coaxial cables
The low-voltage segment, valued at USD 58.6 billion in 2019, continues its steady climb due to growing residential, commercial, and industrial energy demands. These cables bridge the final mile between transformers and consumers—either underground or overhead. Composed primarily of copper and aluminum, these cables are essential to sectors like solar, wind, telecom, and fiber optics. Fiber optic cables, in particular, are gaining traction for their low signal loss and high data bandwidth. “We see low-voltage cabling not just as utility equipment, but as enablers of digitized, decentralized energy ecosystems,” says Anjali Rao, VP of R&D at Nexans SA.
While less prevalent than low-voltage, high and medium voltage cables are indispensable in energy transmission, particularly in smart grid deployments and utility-scale renewable installations. These cables play a crucial role in delivering bulk power safely and efficiently.
The global wave of urbanization is demanding robust cabling solutions for mass transit, smart cities, and telecom expansions. Urban infrastructure, transportation electrification, and high-density real estate are key growth verticals.
Wind and solar cable systems are witnessing sharp growth, aided by favorable policies and technological advances. These cables must be heat, UV, and corrosion-resistant—making quality and durability key purchase criteria in procurement decisions across Asia, Europe, and the US.
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Asia-Pacific is the epicenter of market expansion, led by China, India, and South Korea. With rapid industrialization, rural electrification drives, and urban smart grid rollouts, the region contributes over half the global market growth. In Shenzhen, China’s deployment of underground smart cables across city blocks reduced power outages by 43% within a year while enhancing grid efficiency through real-time analytics powered by fiber-optic infrastructure.
Other Regions
The Cables and Accessories Market is evolving rapidly due to increasing demand for robust connectivity and power transmission infrastructure across industries. Key cable types such as fiber optic cable, coaxial cable, power cable, Ethernet cable, and HDMI cable play critical roles in data transfer and communication systems. In sectors like consumer electronics, USB cable, control cable, and instrumentation cable are essential for device integration and signal transmission. Niche applications such as submarine cable, armored cable, and marine cable are gaining momentum due to expanding offshore activities and underwater communication networks. The market also includes an extensive range of accessories like cable connectors, wire harness, cable glands, cable trays, and cable lugs that facilitate secure and efficient installation. Additionally, terminal blocks, cable ties, cable sleeves, cable ducts, and cable clips enhance cable management and organization, ensuring safety and system performance.
Actionable Recommendations:
Invest in R&D for cable durability (e.g., enhanced jacket materials, fire resistance)
Pursue smart partnerships with grid tech and energy storage firms
Diversify sourcing to hedge against raw material volatility (copper, aluminum)
Integrate sustainability in manufacturing (recyclable XLPE, eco-friendly armor)
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Raw Material Price Volatility: Copper and aluminum prices remain unpredictable, directly impacting cable manufacturing margins. Price hedging, local sourcing, and supply chain digitization are essential risk mitigation tactics.
Regulatory and Environmental Barriers: Environmental clearances, especially for underground or XLPE-based cable projects, can delay implementation. Cross-border trade of cables also faces compliance bottlenecks.
Compliance and Certification Complexity: Global expansion mandates adherence to a maze of local standards—UL, IEC, and RoHS among them. This makes certification and testing services a growing ancillary opportunity.
The transition from passive copper wires to intelligent, sensor-integrated cables is underway. Cables now report their own temperature, monitor for faults, and adjust bandwidth in real-time.
Pros of Smart Cables:
Real-time monitoring and fault detection
Enhances grid reliability
Supports automation in smart factories
Cons of Smart Cables:
Higher upfront cost
Requires skilled installation
Long ROI cycle for utilities
Market incumbents are embracing mergers, regional expansion, and tech upgrades to sustain competitive advantages. Key players include ABB Ltd. (low/medium-voltage underground cables and smart substations), Prysmian SpA (submarine, high-voltage, and fiber optic innovation), Southwire Co. LLC (North American infrastructure focus), and Furukawa Electric Co. Ltd. (pioneering green cabling technologies). These companies are categorized based on focus and performance, from pure play specialists to diversified industrial leaders.
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On the material and construction side, the market is categorized by conductors such as copper conductor and aluminum conductor, with cables being manufactured as insulated wire, shielded cable, twisted pair, multicore cable, and single core variants to meet diverse requirements. Innovations in cable insulation materials like PVC jacket, XLPE insulation, and rubber cable improve durability and flexibility. In line with safety regulations, fire resistant cable and low smoke cable are becoming more common in building and industrial applications. The rise of digital infrastructure has fueled demand for data cable and telecom cable, while the mobility and energy sectors rely on automotive cable, mining cable, solar cable, and wind turbine cable. Additionally, accessories such as cable adapters, cable splitters, cable organizers, and cable reels support functional integration and storage, reflecting a holistic demand for end-to-end solutions within the global cables and accessories ecosystem.
The cables and accessories market is no longer about wires—it’s about power, data, and control. With a USD 45.9 billion runway through 2029, companies that integrate intelligence, sustainability, and adaptability into their cable ecosystems will lead.
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