The Global High Voltage Direct Current (HVDC) Cables Market was valued at USD 1.76 Billion in 2022 and is projected to reach USD 2.19 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period (2022-2029). This growth is driven by increasing renewable energy integration, cross-border power transmission projects, and the expansion of offshore wind farms requiring efficient long-distance electricity transmission solutions.

As global energy infrastructure evolves toward decarbonization and grid modernization, HVDC technology emerges as the backbone for efficient bulk power transfer over long distances. In this analysis, we profile the Top 10 Companies in the HVDC Cables Industry—engineering leaders and technology innovators shaping tomorrow’s interconnected power networks.

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🔟 1. Prysmian Group

Headquarters: Milan, Italy
Key Offering: Extruded HVDC cables up to 525 kV

Prysmian dominates the global HVDC cable market with over 40% market share in submarine installations. The company holds technological leadership with its P-Laser cable system, capable of transmitting 1.2 GW over 600 km with minimal losses.

Technological Advantages:

• World’s first 525kV HVDC cable system certified for commercial use
• Proprietary P-Laser insulation technology
• Specialized cable-laying vessels for deepwater installations

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High Voltage Direct Current (HVDC) Cables Market – View in Detailed Research Report

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9️⃣ 2. Nexans

Headquarters: Paris, France
Key Offering: Mass-impregnated HVDC cables up to 525kV

Nexans maintains a €1.2 billion project backlog in HVDC systems, specializing in both submarine and underground installations. Their technology enables power transmission across challenging environments from Arctic conditions to deep ocean trenches.

Technological Advantages:

• 150-year design lifespan for submarine cables
• Carbon-neutral production facilities
• Turnkey project execution capability

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8️⃣ 3. NKT A/S

Headquarters: Brøndby, Denmark
Key Offering: XLPE HVDC cables for offshore applications

NKT supplies 70% of Northern Europe’s offshore wind connections and specializes in dynamic submarine cables for floating wind farms. Their 525kV technology reduces transmission losses to under 3% per 1,000 km.

Technological Advantages:

• First fully recyclable HVDC cable system (2025 target)
• 2GW transmission capacity per cable
• Robotic cable laying systems

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High Voltage Direct Current (HVDC) Cables Market – View in Detailed Research Report

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7️⃣ 4. LS Cable & System

Headquarters: Anyang, South Korea
Key Offering: Underground HVDC cable solutions

LS Cable ranks as Asia’s #2 cable manufacturer and specializes in underground transmission for urban environments. Their seismic-resistant designs and AI monitoring systems enable reliable power delivery in earthquake-prone regions.

Technological Advantages:

• Real-time condition monitoring systems
• 500kV underground cable networks
• Compact GIS termination technology

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6️⃣ 5. Sumitomo Electric Industries

Headquarters: Osaka, Japan
Key Offering: PPLP-insulated HVDC cables

Sumitomo leads in paper-insulated HVDC cable technology, achieving 99.5% availability on critical interconnectors like Japan’s Tokyo Bay crossings. The company is pioneering superconducting cable technology for next-generation grids.

Technological Advantages:

• World’s first 275kV superconducting cable
• 20% lower losses than conventional designs
• 2,000A current capacity per phase

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5️⃣ 6. ABB Group

Headquarters: Zurich, Switzerland
Key Offering: Complete HVDC transmission systems

ABB has commissioned over 50 HVDC converter stations worldwide and developed voltage source converter (VSC) technology that revolutionized offshore wind connections. Their solutions enable multi-terminal HVDC grids with precise power flow control.

Technological Advantages:

• Lightning-fast fault detection (100ms)
• Compact modular converter stations
• Black start capability for grid restoration

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4️⃣ 7. Furukawa Electric

Headquarters: Tokyo, Japan
Key Offering: Flexible pipe-type HVDC cables

Furukawa specializes in underground cable systems for seismic zones, with installations beneath Tokyo and other major metropolitan areas. Their flexible pipe-type technology withstands ground movements while maintaining reliable operation.

Technological Advantages:

• Seismic-resistant joint technology
• 60% faster installation methods
• Integrated cooling systems

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High Voltage Direct Current (HVDC) Cables Market – View in Detailed Research Report

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3️⃣ 8. TF Cable

Headquarters: Wuhan, China
Key Offering: Ultra-high voltage DC cables

TF Cable leads China’s domestic HVDC market, supplying 60% of the country’s ultra-high voltage projects. Their ±800kV technology transmits power from western renewable resources to eastern load centers over 3,000 km distances.

Technological Advantages:

• 4,200A conductor capacity
• Composite insulator systems
• High-altitude installation expertise

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2️⃣ 9. ZTT Group

Headquarters: Nantong, China
Key Offering: Composite-core submarine cables

ZTT completed Asia’s first ±535kV submarine cable project in 2022, connecting renewable energy sources across 666 km. Their lightweight composite-core conductors reduce installation costs while maintaining high transmission capacity.

Technological Advantages:

• 50% weight reduction conductors
• 2,000m depth capability
• Corrosion-resistant sheathing

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1️⃣ 10. Elsewedy Electric

Headquarters: Cairo, Egypt
Key Offering: High-temperature HVDC solutions

Elsewedy leads Africa’s cable market and is establishing Egypt’s first HVDC manufacturing facility through European technology transfer. Their solutions are optimized for desert conditions with superior thermal performance.

Technological Advantages:

• 90°C rated cable systems
• Sand-resistant outer sheaths
• Localized HVDC production

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High Voltage Direct Current (HVDC) Cables Market – View in Detailed Research Report

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🔌 Outlook: The Evolution of HVDC Transmission Technology

The HVDC cable market is undergoing rapid transformation as renewable energy expansion drives demand for continental-scale power transmission. Technological breakthroughs in conductor materials, insulation systems, and installation methods continue pushing the boundaries of power transmission capabilities.

📈 Key Industry Trends:

• Submarine interconnectors growing at 8.9% CAGR through 2030
• ±525kV systems becoming the new transmission standard
• Modular compact converter stations reducing deployment time by 40%
• 5,000km+ ultra-long distance projects in development

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High Voltage Direct Current (HVDC) Cables Market – View in Detailed Research Report

The companies profiled above represent the vanguard of power transmission technology—building the infrastructure that will connect renewable energy sources across continents and oceans to power the global energy transition.