Medium Voltage Cables Market to Reflect Robust Expansion during 2021–2027

The report has offered an all-inclusive analysis of the global medium voltage cables market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.

Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

Rapid industrialization and urbanization has been the key driving factor sustaining the growth of the medium voltage cables market. Industrialization and urbanization has been increasing at a much faster pace in the developing economies, resulting in more requirements for power generation, transmission, and distribution and thus is expected to boost the requirement of medium voltage cables. This factor is likely to increase the growth of medium voltage cables industry.

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The overhead installation segment accounted for the largest medium voltage cables market share of about 57%. Factors such as lower installation cost and easier maintenance in comparison to underground cables has led to its wider adoption, primarily in developing economies. However, the submarine installation is expected to be the fastest growing segment owing to increasing investments in the offshore wind generation technology for power generation. The underground segment is expected to grow at a notable pace on account of longer life, lower transmission losses, and limited space availability for new overhead installations.

Medium voltage cables are used across industrial, infrastructure, and renewables sector. Industrial segment accounted for the largest share owing to the extensive usage of these cables in oil & gas, metals & mining, chemicals & petrochemicals, cement & manufacturing, utilities, pulp and paper and other industries. Renewables sector is anticipated to grow at the fastest rate over the forecast period on account of increasing demand for wind and solar power across the world.

Medium voltage cables market share is anticipated to increase in Asia-Pacific region, owing to rapid industrialization and urbanization. The China is anticipated to lead the market and witness high demand for medium voltage cables.

The medium voltage cables market analysis covers in depth information of major industry participants. The major companies profiled in the report include, PrysmianSpA, General Cable Corporation, Nexans, NKT Cables, Sumitomo Electric Industries Ltd., Brugg Cables, Dubai Cable Company Private Limited, Leoni AG, Southwire Company LLC, TPC Wires and General Cables Corporation.

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Other market players (not profiled in report) in the value chain include, ABB LTD., Tele Fonika Cable Ltd., KabelwerkeBrugg AG, LS Cable & System Ltd., EL Sewedy Electric Company, Hebei New Baofeng Wire & Cable Co., Ltd.

Key Findings of Medium Voltage Cable Market:

  • The medium voltage cables market forecast is studied from 2020 to 2027.
  • Medium voltage cables market size is provided in terms of revenue.
  • In Asia-Pacific and LAMEA, high urbanization rate is estimated to accelerate the growth of underground cables on account of limited space availability for new and existing substations
  • In North America, offshore wind capacity addition is expected to increase in the coming years due to the vast wind energy potential available on the U.S. Coasts.
  • The submarine segment is expected to witness robust growth rates during the forecast period
  • Key market players are profiled and their strategies are analyzed thoroughly to provide a competitive outlook of the medium voltage cables market.

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