Global Medium Voltage Cable Market Size By Installation Type (Overhead, Underground), By Voltage (6kV-10kV, 11 kV – 20 kV), By Material Type (Copper, Aluminum), By Geographic Scope And Forecast

Medium Voltage Cable Market Size And Forecast

Medium Voltage Cable Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2030.

Rapid industrialization and urbanization are key factors driving the global Medium Voltage Cable Market. Over the last few years, there has been significant industrialization and urbanization in developing economies, which has led to increased requirements for power generation, transmission, and distribution. The Global Medium Voltage Cable Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Medium Voltage Cable Market Definition

The electric cables which have a voltage carrying capacity between 6 kV to 36 kV are considered medium-voltage electric cables. These types of cables are mostly used in distribution networks, where the electricity is delivered to the consumers. These cables have been insulated with cross-linked polyethylene. This type of insulation has excellent chemical resistance and is also resistant to extreme temperatures. Furthermore, these cables are also used underground or underwater. Due to this, the medium-voltage electric cable has a high demand from consumers.

The growing areas of application of medium-voltage cables are due to their 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. 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 increase transmission capacity, improve system stability, control voltage regulation and ensure proper load division among supply lines. The constant need for electricity and the worldwide growth in grid infrastructure will aid in the growth of the market over the forecast period.

Global Medium Voltage Cable Market Overview

Rapid industrialization and urbanization are key factors driving the global Medium Voltage Cable Market. Over the last few years, there has been significant industrialization and urbanization in developing economies, which has led to increased requirements for power generation, transmission, and distribution. Increased awareness about and investments in renewable energy is one of the key factors driving the global Medium Voltage Cable Market.

Over the last decade, there has been a significant increase in investments in renewable energy such as solar, wind, hydropower, geothermal, and biomass. Sometimes, renewable energy projects are off the grid and hence, medium-voltage electric cables are employed to connect with grid systems. Thus, increasing renewable energy generation across the globe is expected to drive the global medium voltage electric cable market during the forecast period.

However, power generation, transmission, and distribution require high capital investments and long-term planning, which is a major factor restraining the global Medium Voltage Cable Market. Projects across the world are getting delayed, due to a lack of funding. Thus, high capital costs are expected to restrain the Global Medium Voltage Cable Market during the forecast period.

Global Medium Voltage Cable MarketSegmentation Analysis

The Global Medium Voltage Cable Market is segmented based on Installation Type, Voltage, Material Type, and Geography.

Medium Voltage Cable Market, By Installation Type

• Overhead
• Underground
• Submarine

Based on Installation Type, the market is bifurcated into Overhead, Underground, and Submarine. Underground is expected to be the dominant segment in the near future, due to lower transmission losses and maintenance costs associated with underground cables and their resistance to weather conditions.

Medium Voltage Cable Market, By Voltage

• 6kV-10kV
• 11 kV – 20 kV
• 21 kV – 30 kV
• Above 30 kV

Based on Voltage, the market is bifurcated into 6kV-10kV, 11 kV – 20 kV, 21 kV – 30 kV, and above 30 kV. Among these, below 10 kV and 11 kV – 20kV segments are expected to lead the market during the forecast period, due to high demand among end-users.

Medium Voltage Cable Market, By Material Type

• Copper
• Aluminum

Based on Material Type, the market is bifurcated into Copper and Aluminum. The aluminum segment leads the market, as aluminum cables are more inexpensive than copper cables.

Medium Voltage Cable Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Medium Voltage Cable Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The market in the Asia Pacific is currently the largest for medium voltage cables followed by the European market. Government initiatives toward the development of infrastructure and rising investments in the industrial sector in the region are anticipated to drive the Asia Pacific Medium Voltage Cable Market during the forecast period.

The market in North America and Europe is expected to expand at a significant CAGR during the forecast period, due to increasing investments in the development of renewable energy in these regions. The market in Latin America and Middle East & Africa is estimated to expand at a steady pace during the forecast period, which can be ascribed to a steady increase in investments in power generation and distribution projects in these regions.

Key Players

The “Global Medium Voltage Cable Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are ABB LTD., Prysmian S.P.A., Tele Fonika Cable Ltd., Kabelwerke Brugg AG, LS Cable & System Ltd., EL Sewedy Electric Company, Hebei New Baofeng Wire & Cable Co., Ltd, General Cable Corporation, NKT Cables Group A/S, Ltd., and Southwire Company, LLC. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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