North America is entering a period of significant infrastructure transformation, driven by rising electricity consumption, grid modernization, data center expansion, domestic manufacturing, renewable energy deployment, and transportation electrification. In the US, aging transmission infrastructure and rapidly increasing power demand are creating strong requirements for power transmission, distribution, communication, and connectivity solutions. The US Department of Energy has identified an urgent need for additional transmission infrastructure as data centers, manufacturing, industrial loads, and electrification accelerate electricity demand.

Against this backdrop, the Cables and Accessories Market Size is expected to gain substantial opportunities across North America as utilities, technology companies, manufacturers, construction firms, and infrastructure developers invest in new and upgraded networks. Globally, the market is projected to grow from US$171.23 billion in 2025 to US$258.07 billion by 2034, registering a CAGR of 4.66% from 2026 to 2034. The addressable market is estimated at US$1,948.61 billion during 2026–2034. North America is expected to remain an important regional contributor as the US increases investment in transmission capacity, advanced grid technologies, renewable integration, and high-demand digital infrastructure.

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US Grid Modernization Creates Strong Demand

Grid modernization represents one of the most important drivers for the North American industry. Much of the US power infrastructure was developed decades ago, while electricity demand is now being reshaped by artificial intelligence, hyperscale data centers, manufacturing expansion, electric vehicles, and industrial electrification.

The US Department of Energy's 2026 draft National Transmission Needs Study highlights the pressing requirement for additional transmission infrastructure to accommodate growing loads and address congestion. Regional transmission organizations, including PJM, MISO, Southwest Power Pool, and ERCOT, are approving major transmission investments in anticipation of higher electricity demand.

This development is creating opportunities for high-voltage cables, underground power cables, connectors, cable joints, terminations, and other accessories required for reliable transmission and distribution networks.

Rising Electricity Demand from Data Centers and AI

The rapid expansion of artificial intelligence and cloud computing is becoming a major infrastructure driver in the US. Data centers require large quantities of electricity and dependable power connections, encouraging utilities and developers to expand generation and transmission capacity.

The US Department of Energy notes that data centers, AI applications, and domestic manufacturing are contributing to mounting pressure on the country's electricity grid. Data centers accounted for approximately 4.4% of US electricity consumption in 2023, with their share projected to potentially reach 12% by 2028.

As hyperscale and AI-focused facilities expand, demand is increasing for power cables, structured cabling, fiber-optic systems, connectors, and specialized accessories. The concentration of data center development in regions such as Virginia, Texas, Arizona, Georgia, and other major technology hubs is expected to support regional demand.

Transmission Investment Supports Market Growth

The US is also increasing efforts to accelerate transmission development. In March 2026, the Department of Energy announced an approximately US$1.9 billion funding opportunity under its SPARK initiative to accelerate grid upgrades, including reconductoring and advanced transmission technologies.

Such initiatives are particularly relevant to cable manufacturers because transmission expansion requires extensive quantities of conductors, high-voltage cables, connectors, joints, terminations, and protection accessories. Upgrading existing lines can also require advanced cable technologies capable of improving capacity and reliability without completely rebuilding transmission corridors.

The growing need for resilience against severe weather is another factor. Utilities across the US are evaluating undergrounding, grid hardening, replacement of aging components, and improved network protection, supporting demand for reliable cabling solutions.

Renewable Energy and Electrification Expand Opportunities

North America's transition toward renewable energy is creating additional demand. Solar, wind, battery storage, and other distributed energy projects require extensive electrical connections between generation assets, substations, storage facilities, and transmission networks.

The US is projected to add more than 90 GW of new generation capacity in 2026, with solar, energy storage, and wind accounting for the majority of planned additions, according to S&P Global.

Electrification of transportation is another important driver. Electric vehicle charging networks, electric rail systems, fleet electrification, and industrial electric equipment require dependable power distribution infrastructure. Cable manufacturers are therefore developing products designed for higher efficiency, greater durability, improved safety, and demanding operating environments.

Industrial and Manufacturing Expansion

The resurgence of domestic manufacturing in the US is further strengthening demand. Semiconductor fabrication plants, advanced manufacturing facilities, battery plants, warehouses, and industrial complexes require extensive power and communication networks.

The Department of Energy specifically identifies domestic manufacturing and large industrial loads among the factors contributing to rising transmission requirements. This creates opportunities for manufacturers supplying industrial power cables, control cables, instrumentation cables, communication cables, connectors, and cable management accessories.

Top Players

Key companies operating in the Cables and Accessories Market include Prysmian S.p.A., Nexans S.A., Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., Fujikura Ltd., NKT A/S, LS Cable & System Ltd., Southwire Company, LLC, Hellenic Cables, and TE Connectivity Ltd.

These companies are strengthening their positions through capacity expansion, technological innovation, strategic partnerships, acquisitions, and development of advanced cable systems. In North America, investments in high-voltage transmission, data center infrastructure, renewable energy, and grid resilience are creating opportunities for both established manufacturers and specialized suppliers.

Future Outlook for North America

The North American outlook remains positive through 2034 as the US addresses the growing gap between electricity demand and existing grid capacity. Continued investment in transmission infrastructure, grid modernization, renewable energy integration, data centers, manufacturing, and electrification is expected to sustain demand for cables and accessories.

The combination of aging infrastructure and new high-load applications is particularly significant. The US power system must simultaneously replace aging assets, increase transmission capacity, connect new generation, and serve rapidly expanding loads. DOE's transmission planning initiatives emphasize the need to expand and modernize the grid to support data centers, manufacturing, and transportation and building electrification.

As these investments progress, suppliers offering high-performance, energy-efficient, durable, fire-resistant, smart-grid-compatible, and application-specific cable solutions are likely to find attractive opportunities across the US and wider North American region.

About The Insight Partners

The Insight Partners is a global market research and consulting firm providing actionable intelligence across technology, healthcare, semiconductors, energy, industrial, chemicals, telecommunications, and other industries. Its research provides insights into industry trends, growth drivers, opportunities, competitive landscapes, and strategic developments to support informed business decisions.

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