Medium Voltage Cables Market Overview:
Medium Voltage Cables Market is expected to grow at a CAGR of more than 6% during the forecasted period 2022-2030.
Market Highlights
A medium-voltage cable is a cable with a voltage rating of above 1kV up to 100 kV. The growing areas of application of the medium voltage cables, is due to its low cost, high operational efficiency, improved system stability, proper load distribution between circuits, easy and quick installation and convenient virtual deployment of medium voltage cables, anywhere in the power network. The global medium voltage cables market is driven by the increasing need for reliable electric supply & subsequent investment in transmission & distribution network, grid expansion, and developing safe electrical infrastructure.
Medium-voltage cables are widely accepted across the world in the industrial & commercial sectors as a reliable & safe method to supply electricity. Medium-voltage cables increases transmission capacity, improves system stability, controls voltage regulation and ensures proper load division among supply lines. The constant need for electricity and the worldwide growth in grid infrastructure, will aid in the growth of global medium voltage cables market over the forecast period. However, fluctuating material costs may restrain the global medium voltage cables market.
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Report Attribute/Metric
Details
CAGR
6% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022 to 2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Voltage Rating , Installation and End User
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Scope of the Report
This study provides an overview of the global medium voltage cables market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global medium voltage cables market by its voltage rating, by installation, by end-user and by regions.
Utilities segment is expected to dominate the global medium voltage cables market
The utilities segment holds the largest share of medium voltage cables market, currently and is expected to retain that in the forecast period. Utilities use medium voltage cables for primary supply of electricity to all major and small equipment. The increasing electricity usage across the world, would result in an increase in the number of substations, which would raise the demand for medium voltage cables. Thus, it has been forecast that the utilities segment is expected to dominate the global medium voltage cables market.
Market Segmentation:
By Voltage Rating
- 1-25 kV
- 26-50 kV
- 51-75 kV
- 76-100 kV
By Installation
- Overhead
- Underground
- Submarine
By End-User
- Utilities
- Industries
- Commercial
By Regions
- North America
- Asia Pacific
- Europe
- Rest of the World
Key Players
The key players of the global medium voltage cables market are General Cable Corporation (U.S), Nexans S.A. (France), NKT Cables Group A/S (Denmark), ABB Ltd. (Switzerland), Prysmian S.P.A. (Italy), Sumitomo Electric Industries, Ltd. (Japan), Southwire Company, LLC (U.S) Kabelwerke Brugg AG (Switzerland), Hebei New Baofeng Wire & Cable Co., Ltd. (China), LS Cable & System Ltd. (South Korea) and EL Sewedy Electric Company (Egypt).
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5th October, 2018 - Medium Voltage Cables & Accessories Market is expected to grow at a significant CAGR in the upcoming years as the scope, Product Types, and its applications are increasing across the globe.
For distribution, Power transmission in the voltage range of 1000 V to 35 Kv the medium voltage cable is necessary.
It is projected to boost the development of the medium voltage cables and accessories market, and used in different fields such as chemical industry, mining, Oil and Gas, infrastructural sector, renewables.
Additionally, insertion of developing technologies, such as co-generation and combined generation in this sector is expected to drive the medium voltage cables & accessories market in the years to come.
Medium Voltage Cables & Accessories Market is segmented, By Installation into Underground, (XLPE Cables, MI Cables, Cable Joints, Cable Terminations), Submarine, (XLPE Cables, MI Cables, Cable Joints, Cable Terminations), Overhead (Conductors, Fittings & Fixtures).Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/medium-voltage-cables-and-accessories-market/request-sampleMedium Voltage Cables & Accessories Market is segmented, By End User into Industrial (Oil & Gas, Mining & Metals, Chemicals & Petrochemicals, Cement & Manufacturing, Utilities, Others (Paper & Pulp, Wastewater Treatment, and Pharmaceutical)), Renewable (Wind, Solar), Infrastructure (Transportation & Logistics, Residential & Commercial).The electrical infrastructure of the country will represent the utility segment; which includes the distribution of electric power, transmission and generation.
There is increase in the investment towards the utility sector, and upgradation of the grid infrastructure, the requirement for the equipment used in grid infrastructure such as insulators, power cables, transformer.
Market Highlights A medium-voltage cable is a cable with a voltage rating of above 1kV up to 100 kV.
The growing areas of application of the medium voltage cables, is due to its low cost, high operational efficiency, improved system stability, proper load distribution between circuits, easy and quick installation and convenient virtual deployment of medium voltage cables, anywhere in the power network.
The global medium voltage cables market is driven by the increasing need for reliable electric supply & subsequent investment in transmission & distribution network, grid expansion, and developing safe electrical infrastructure.
Medium-voltage cables are widely accepted across the world in the industrial & commercial sectors as a reliable & safe method to supply electricity.
However, fluctuating material costs may restrain the global medium voltage cables market.
The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
