Data Center Power Cable Market to Reach USD 4.72 Billion by 2035 as AI Campuses Pull Medium-Voltage Distribution Deeper Into the Data Hall - DC Market Insights

Market grows at a 10.50% CAGR from USD 1.74 billion in 2025; low-voltage power cables hold 40.4% of spending, DC power cables grow fastest at 11.55% a year and North America leads with 42.0%

LONDON, Oct. 22, 2026 /PRNewswire/ -- The 'Data Center Power Cable Market - Growth, Share, Opportunities & Competitive Analysis, 2026-2035' report has been added to the DC Market Insights offering. The global Data Center Power Cable Market was valued at USD 1.74 billion in 2025, is estimated at USD 2.26 billion in 2026, and is projected to reach USD 4.72 billion by 2035, growing at a CAGR of 10.50% from 2025 to 2035. DC Market Insights finds that AI campuses are changing electrical architecture by taking 15 kV to 35 kV feeders closer to the load, while copper prices, higher rack density and re-cabling of older halls lift the value of each megawatt deployed.

Data Center Power Cable Market at a Glance

Key Takeaways

• Power cable content averages about USD 115,000 per new MW in an air-cooled hall and USD 145,000 per MW in an AI hall at 2025 copper prices.
• Low voltage power cables lead with USD 702.90 million, or 40.4% of 2025 spending; medium-voltage feeders hold 25.4% and reach USD 1.21 billion by 2035.
• DC power cables are the fastest-growing product type at 11.55% a year as battery strings, rack-level DC architectures and higher-voltage DC distribution expand.
• Copper conductors account for USD 1.39 billion, or 80.0% of 2025 value, while aluminium grows faster at 13.43% a year and reaches 26.0% of 2035 spend.
• North America leads with 42.0% of 2025 spending, while Asia Pacific grows fastest at 12.46% a year and India leads large-country growth at 16.75%.

Scope & Segmentation - Data Center Power Cable Market

The report analyzes the market across the following segments:

• Product Type: Medium Voltage Feeder Cables; Low Voltage Power Cables; Power Whips and Rack Power Cords; DC Power Cables; Cable Accessories and Terminations
• Conductor Material: Copper; Aluminium
• Project Type: New Build; Retrofit and Re-cabling
• Data Center Type: Hyperscale and AI Campuses; Colocation; Enterprise; Edge and Telecom
• Geography: North America; Europe; Asia Pacific; Latin America; Middle East and Africa, with 12 country forecasts

Report Updated: Oct. 21, 2026

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"Data center power cable demand is being reshaped by both AI architecture and metal economics. AI halls use about USD 145,000 of power cable per MW at 2025 copper prices, while medium-voltage feeders move closer to the load and older facilities need heavier re-cabling for denser racks. That makes copper exposure, MV capacity and conductor substitution as important to procurement strategy as the number of megawatts under construction."
— Amit Jain, Senior Consultant, ICT & Emerging Technologies, DC Market Insights, report author

Why This Report Matters

Power cables connect the campus substation, switchgear, UPS, mechanical plant and rack-level distribution, so their economics move with both megawatts and metal prices. The report helps cable manufacturers, distributors, electrical contractors, data center developers, hyperscalers, colocation operators and investors quantify product mix, copper and aluminium exposure, new-build versus re-cabling demand and the regions where AI campus construction is pulling medium-voltage distribution deeper into facilities.

Key Attributes

How Big Is the Data Center Power Cable Market in 2026?

DC Market Insights values the Data Center Power Cable Market at USD 2.26 billion in 2026, 30.08% above 2025. The increase reflects higher copper prices, rapid AI campus construction and more medium-voltage distribution inside large sites. Growth moderates after the 2026 price reset but remains supported by annual capacity additions and re-cabling of the expanding installed base.

Source: DC Market Insights, Data Center Power Cable Market report, Oct. 21, 2026.

Why Do AI Campuses Increase Power Cable Content per MW?

Power cable content averaged about USD 115,000 per new MW of air-cooled IT capacity and USD 145,000 per MW in an AI hall in 2025. AI campuses move 15 kV to 35 kV feeders closer to unit substations near the hall, add large mechanical loads and use denser rack-level distribution. Copper prices amplify the effect: roughly 55% of an AI hall cable bill is copper metal, so each USD 1,000 per tonne change in copper adds about USD 8,000 per MW to cable cost.

Which Power Cable Type Leads Data Center Spending?

Low voltage power cables remain the largest product type, while medium-voltage feeders capture a larger absolute revenue pool as AI campuses bring MV distribution closer to the load. DC power cables grow fastest from a smaller base as battery strings and rack-level DC architectures expand.

DC Exclusive: Copper Price Ladder for a 100 MW AI Hall

The cable bill of a fixed 100 MW AI hall changes materially with copper. At the 2025 average copper price, the model produces about USD 14.50 million of power cable content; at the January-September 2026 average, the same design rises to about USD 17.29 million. This sensitivity makes metal hedging and aluminium substitution important procurement levers.

Which Region Leads the Data Center Power Cable Market?

North America leads 2025 spending as hyperscale and AI campus construction combines with higher domestic cable prices and new manufacturing investment. Asia Pacific grows fastest through 2035, while India records the strongest growth among major countries as domestic data center capacity expands and local cable makers add supply.

How Could the 2035 Forecast Change?

The 2035 value depends on copper pricing, the pace of AI capacity additions, the share of aluminium conductors, the use of busway in white space and how far medium-voltage distribution moves into data halls. The base case assumes 27 GW of annual new capacity by 2035, a 66% AI share and copper near USD 11,500 per tonne.

Competitive Landscape and Recent Developments

The five largest suppliers account for about 38% of 2025 spending. Competition centers on copper procurement, medium-voltage capacity, North American manufacturing, fire-rated and low-smoke cable systems, aluminium substitution, lead times and the ability to supply complete project packages from MV feeders through rack-level cords and accessories.

Companies profiled include:

Prysmian (including Encore Wire); Nexans; Southwire; Sumitomo Electric; LS Cable & System; Furukawa Electric; NKT; KEI Industries; Polycab; Hengtong Group; Elsewedy Electric; Riyadh Cables; Ducab; Cerro Wire.

• In June 2025, Prysmian announced a USD 500 million expansion at its Encore Wire campus in Texas, including a medium-voltage cable plant expected online in 2027.
• In June 2025, Nexans opened Stella Nova with a superconducting AC and DC demonstration for data hall applications.
• In July 2025, the United States set a 50% duty on the copper content of semi-finished copper products effective Aug. 1, 2025.
• In February 2026, Nexans reported PWR-Connect sales up 13.5% and linked strong fourth-quarter growth to data center projects.
• In April 2026, Prysmian reported 10% growth in North America mainly driven by data center demand.
• In October 2026, Southwire broke ground on a more than USD 256 million expansion in Starkville, Mississippi.

Frequently Asked Questions

What is the size of the Data Center Power Cable Market?

USD 1.74 billion in 2025 and USD 2.26 billion in 2026, projected to reach USD 4.72 billion by 2035 at a 10.50% CAGR.

Which power cable type leads the market?

Low voltage power cables, with USD 702.90 million or 40.4% of 2025 spending.

Which product type grows fastest?

DC power cables, at 11.55% a year through 2035.

How much power cable does an AI data center need per MW?

About USD 145,000 per new MW in 2025, compared with about USD 115,000 per MW for an air-cooled hall.

Which region leads?

North America with 42.0% of 2025 value; Asia Pacific grows fastest at 12.46% a year.

Who are the leading suppliers?

Prysmian, Nexans, Southwire, Sumitomo Electric and LS Cable & System are among the market leaders, with the top five accounting for about 38% of 2025 spending.

Methodology

DC Market Insights builds the market bottom-up from new and installed data center capacity and cable content per MW, with conductor pricing linked to copper benchmarks. The 2025 model uses 12.0 GW of new IT capacity, different cable content for air-cooled and AI halls, and recurring re-cabling spend on 116 GW of installed capacity. Product, material, project, data center type, regional and country splits reconcile to the total, while forecast scenarios test copper prices, AI share, busway substitution, aluminium adoption and new capacity additions.

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