Vietnam Power Cables Market Size, Share, Trends and Forecast by Installation, Voltage, End Use Sector, Material, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A42800

Vietnam Power Cables Market Overview:

The Vietnam power cables market size reached USD 932.50 Million in 2024. The market is expected to market to reach USD 1,473.28 Million by 2033, exhibiting a growth rate (CAGR) of 4.68% during 2025-2033. The market is driven by rapid infrastructure development, increasing industrialization, and the government's ambitious renewable energy transition plans. The country's robust economic growth, coupled with significant investments in smart grid technologies and urban development projects, continues to fuel demand for high-quality power transmission solutions across multiple sectors. Additionally, strategic focus on nuclear power revival and offshore wind projects is creating substantial opportunities for advanced cable technologies, particularly in the high-voltage segment, further strengthening the Vietnam power cables market share in the regional landscape.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 932.50 Million
Market Forecast in 2033	USD 1,473.28 Million
Market Growth Rate 2025-2033	4.68%

Vietnam Power Cables Market Trends:

Infrastructure Development and Urbanization Drive

Vietnam's accelerated infrastructure development and rapid urbanization are primary catalysts for the power cables market expansion. The country's National Power Development Plan (PDP8) emphasizes massive investments in transmission and distribution networks to support industrial growth and urban expansion. Major infrastructure projects, including smart cities initiatives and industrial park developments, require extensive power cable installations across overhead, underground, and submarine applications. The government's commitment to modernizing the electrical grid infrastructure, coupled with increasing electricity demand from manufacturing hubs and residential complexes, is creating sustained demand for various voltage categories of power cables. This infrastructure-driven growth is particularly evident in northern and southern regions, where industrial concentration and urban development are most pronounced, contributing significantly to Vietnam power cables market trends and establishing the foundation for long-term Vietnam power cables market growth.

Renewable Energy Transition and Grid Modernization

Vietnam’s ambitious renewable energy transition is transforming the power cables market, driven by government targets for 36%–39% of electricity generation from renewable sources by 2030, including 6 GW from offshore wind. The introduction of Direct Power Purchase Agreements (DPPAs) is creating new growth opportunities, encouraging investment in renewable projects such as offshore wind farms, solar installations, and the revival of nuclear power in Ninh Thuan province. This shift is increasing demand for high-voltage and specialized cables capable of handling renewable energy transmission. Grid modernization and smart grid adoption require advanced cable solutions to integrate distributed energy sources, ensure stability, and support bidirectional power flows with real-time monitoring. Submarine cables are particularly critical for connecting offshore wind installations to the mainland grid, driving innovation and significantly shaping Vietnam’s power cables market demand.

Industrial Expansion and Manufacturing Sector Growth

The robust expansion of Vietnam's manufacturing sector, particularly in electronics, automotive, and heavy industries, is creating substantial demand for industrial-grade power cables across multiple voltage categories. The establishment of new manufacturing facilities, expansion of existing industrial complexes, and the development of export-oriented production capabilities require comprehensive electrical infrastructure supported by reliable power cable systems. Key sectors including oil & gas, chemicals, metals & mining, and transportation are driving specialized cable requirements for harsh industrial environments and critical applications. The growth of manufacturing hubs in key regions is necessitating upgraded electrical distribution networks with higher capacity and improved reliability standards. Additionally, the integration of Industry 4.0 technologies and automation systems in manufacturing facilities is creating demand for advanced cable solutions that can support both power transmission and data communication requirements, significantly influencing Vietnam power cables market trends and sustaining Vietnam power cables market growth through diversified industrial applications.

Vietnam Power Cables Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on installation, voltage, end use sector, and material.

Installation Insights:

Overhead
Underground
Submarine Cables

The report has provided a detailed breakup and analysis of the market based on the installation. This includes overhead, underground, and submarine cables.

Voltage Insights:

High
Medium
Low

A detailed breakup and analysis of the market based on the voltage have also been provided in the report. This includes high, medium, and low.

End Use Sector Insights:

Power
Oil & Gas
Chemical
Manufacturing
Metals & Mining
Infrastructure
Transportation
Others

The report has provided a detailed breakup and analysis of the market based on the end use sector. This includes power, oil & gas, chemical, manufacturing, metals & mining, infrastructure, transportation, and others.

Material Insights:

Copper
Aluminum

A detailed breakup and analysis of the market based on the material have also been provided in the report. This includes copper and aluminum.

Regional Insights:

Northern Vietnam
Central Vietnam
Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Power Cables Market News:

In September 2025, Vietnam launched Southeast Asia’s longest submarine power cable, connecting Con Dao Islands to the national grid. The VND4.9 trillion (US$185.6 million) project includes a 77 km submarine cable, overhead and underground lines, and upgraded transformer stations. It replaces diesel generators, ensures stable electricity, reduces emissions, and supports socio-economic development. The cable, the deepest and longest 110 kV line in the region, will provide up to 90 MW by 2035.
In August 2025, Taihan Vina will build Vietnam’s first extra-high voltage (EHV) cable plant in Long Thanh Industrial Zone, Dong Nai, covering 605,000 sq. ft. Construction starts in early 2026, with operations in 2027. The plant will produce 400kV-class EHV cables, modernizing Vietnam’s power grid and supporting growing electricity demand. Taihan aims to strengthen its regional and global presence, expanding into Europe, Oceania, and the Americas.

Vietnam Power Cables Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Installation Voltage End Use Sector Material Region
Installations Covered	Overhead, Underground, Submarine Cables
Voltages Covered	High, Medium, Low
End Use Sectors Covered	Power, Oil & Gas, Chemical, Manufacturing, Metals & Mining, Infrastructure, Transportation, Others
Materials Covered	Copper, Aluminum
Regions Covered	Northern Vietnam, Central Vietnam, Southern Vietnam
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the Vietnam power cables market performed so far and how will it perform in the coming years?
What is the breakup of the Vietnam power cables market on the basis of installation?
What is the breakup of the Vietnam power cables market on the basis of voltage?
What is the breakup of the Vietnam power cables market on the basis of end use sector?
What is the breakup of the Vietnam power cables market on the basis of material?
What is the breakup of the Vietnam power cables market on the basis of region?
What are the various stages in the value chain of the Vietnam power cables market?
What are the key driving factors and challenges in the Vietnam power cables market?
What is the structure of the Vietnam power cables market and who are the key players?
What is the degree of competition in the Vietnam power cables market?

Key Benefits for Stakeholders:

IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam power cables market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam power cables market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam power cables industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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