DC Market Insights projects the global data center power cable market will grow from $1.74 billion in 2025 to $4.72 billion by 2035, a compound annual growth rate of 10.50%. The firm estimates the 2026 market at $2.26 billion, up 30.08% from 2025.

AI halls carry a bigger cable bill

DC Market Insights estimates power cable content at about $115,000 per new megawatt in an air-cooled hall and $145,000 per megawatt in an AI hall, at 2025 copper prices. It says AI campuses push 15 kV to 35 kV feeders closer to the load and use denser rack-level distribution.

Copper is roughly 55% of an AI hall's cable bill, according to the report. Each $1,000 per tonne change in the copper price moves cable cost by about $8,000 per megawatt. For a 100 MW AI hall, the model gives about $14.50 million of cable at the 2025 average copper price and about $17.29 million at the January to September 2026 average.

Product mix and conductors

Low-voltage power cables are the largest product type at $702.90 million, or 40.4% of 2025 spending. Medium-voltage feeder cables hold 25.4%. DC power cables are the fastest-growing type at 11.55% a year, from a base of $66.60 million.

Copper conductors made up $1.39 billion, or 80.0%, of 2025 value. Aluminum grows faster at 13.43% a year and reaches 26.0% of 2035 spending, the firm says.

Regions

North America leads with 42.0% of 2025 spending, or $729.96 million. Asia Pacific grows fastest at 12.46% a year. India has the highest growth among large countries at 16.75%, rising from $49.71 million in 2025 to $233.89 million by 2035. The five largest suppliers hold about 38% of 2025 spending.

Forecast range

Scenario 2035 value CAGR 2025-2035
Low $3.75 billion 8.00%
Base $4.72 billion 10.50%
High $5.90 billion 13.00%

The base case assumes 27 GW of new capacity in 2035, a 66% AI share and copper near $11,500 per tonne. The low case assumes copper below $9,000 per tonne, more busway and aluminum, and slower AI additions. The high case assumes copper above $13,000 per tonne.