Rising demand for Renewable energy and infrastructure development are projected to fuel the growth of the global medium voltage cables market at a CAGR of 5.6% during the forecast period 2023 to 2030.

Market Research Future (MRFR) has published a Half cooked research report on the “global medium voltage cables market” that contains the information from 2019 to 2030. The medium voltage cables market is estimated to register a CAGR of 5.6% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global medium voltage cables market— Brugg Kabel AG. (Switzerland), Hellenic Cables (Germany), Eland Cables (England), Prysmian Group (US), SACO AEI Polymers (Wisconsin), Nexans S.A. (France), NKT A/S (Denmark), Sumitomo Electric Industries, Ltd. (Japan), Southwire Company LLC (US) and TPC (US).

Market Highlights

The global medium voltage cables market is accounted for to register a CAGR of 5.6% during the forecast period and is estimated to reach USD 47,938.8 million by 2030.

The global medium voltage cables market is anticipated to develop significantly during the forecast period, owing to increased investment in transmission and distribution infrastructure and a rise in renewable power generation. In addition, medium voltage cables are in high demand because of their high operational efficiency, proper load distribution between circuits, improved system stability, easy and quick installations, and convenient virtual deployment. Medium voltage cable also has low cost and easier maintenance. Furthermore, there are subsequent investments in transmission and distribution networks grid expansion and developing safe electrical infrastructure. China, Japan, and India are investing in grid expansion projects to improve distribution system dependability which in turn increases the growth prospects in the market. Moreover, growing urbanization and industrialization and the need for the power supply in rural areas in these areas will also have a positive impact on the growth of the market. However, the market is strained by the fluctuating material costs of copper, aluminum, and several plastics.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Medium Voltage Cables Market Research Report

The geographic analysis of Medium voltage cables has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East & Africa and South America). Among these regions, Asia-Pacific has dominated the global market in 2021 and is expected to maintain its dominance throughout the forecast period. The growth of the medium voltage cables market in this region can be attributed to the increasing population and the growing energy requirement and rising industrialization in the Asian countries. China is an economy that has seen a rapid increase in energy consumption over the last few decades, fueled by industrialization and infrastructure expansion. Furthermore, India, China, and Indonesia are aggressively investing in wind power projects. This has resulted in increased expenditures in the transmission and distribution sectors by linking renewable energy sources to the grid, which are likely to fuel the growth of the Asia Pacific medium voltage cables market outlook. On the other hand, North America is expected to witness the second largest growth during the forecast period. Increasing implementation of the smart grid and growth in renewable energy investments are some of the factors that are expected to fuel the market growth in this region.

Segment Analysis

The global medium voltage cables market has been segmented based on Installation, Voltage, Product, End User, and region.

The global medium voltage cables market segmentation, based on installation it has been segmented as underground, submarine, and overhead. Among them, the underground cables occupy the dominant share in the medium voltage cables market. In 2021, it occupied 35.6% of the market due to the adoption of smart grids to meet the rising need of grid interconnection, significantly resulting in rising investments in the new submarine and underground cables. Additionally, the cost benefits offered by underground cables in terms of maintenance further drives the growth of the segment in the market. Medium Voltage submarine cables are used for power transmission to offshore islands, oil platforms, or to cross rivers and lakes. The importance of submarine power cables has increased steadily in recent decades with the advent of offshore renewable energy that required cables from wind, wave and tidal installations to bring the renewable energy ashore. The overhead installation segment is expected to witness substantial growth owing to ease of installation, low transmission losses, and low deployment costs..

The global Medium Voltage Cables Market segmentation based on voltage, the market is segmented as Up to 25Kv, 26kV-50kV, 51kV-75kV, and 76Kv-100kV. Cables in the range of 26kV to 50 kV that are used in power distribution and transmission lines to transport electricity from the generating plants to the electrical substations occupy the largest share in the market. The growing demand for power transmission and distribution equipment is expected to drive the growth of medium voltage cables ranging from 26kV to 50 kV. Moreover, with the upgrades and expansion of the electricity sector in many parts of the world, the market will see a stable demand. Medium Voltage cables in the range from 1.1 kV to 25 kV occupy the second largest share and are used in domestic and industrial applications and as the input of any transformer/generator. Higher ranges from 51 to 100kV are preferred in underground installations.  

The global Medium Voltage Cables Market segmentation based on the Product, has been segmented as terminations cables, joints, XLPE Cables, and others. termination cables held the largest share of 33.46% in 2021 as terminating medium voltage cables in electrical distribution networks is critical in order to provide safety for operations personnel, and to provide the expected reliability of the electrical distribution network. Cable terminations are used to form a connection between cables and other equipment, another cable, or a junction. They come in different shapes and sizes and ensure that the electricity flow is accurate. Moreover, the surge in the installation of underground cables boosts the demand for medium voltage cable terminations. Joints such as straight cable joints, straight cable joints, branch cable joints are also generally used to extend cables. Straight cable joints are preferred for indoor, outdoor, and submerged joining purposes. Transition cable joints are extremely useful when joining a traditionally made cable with the new style cables made of polymer. Branch cables are generally used for low-voltage and polymeric cables with cores from anywhere between 1 and 5. XLPE cables are suitable for voltage ranges from low to extra high voltage, surpassing other insulation materials such as PVC, Ethylene Propylene Rubber (EPR) and silicone rubbers. Cross-linking the polyethylene also enhances the chemical and oil resistance at elevated temperatures and makes it suitable for use as a Low Smoke Zero Halogen material.

The global Medium Voltage Cables Market segmentation based on the end user, are used by commercial, industrial, and utility end-users. Among them, the utility segment holds the largest share of 50% owing to the heightened use of medium voltage cables in power transmission centers, wind farms, among others. Further, increasing urbanization and rural electrification projects along with development in electrical infrastructure to serve the increasing demand. In addition, federal renewable tax credits and state mandates like Renewable Portfolio Standards have also supported the clean energy transition to date and are likely to continue in the coming years, the utility sector will witness potential effects of more federal policy, investment, and regulatory support. The industrial segment is set to grow significantly over the forecast period supported by increasing investment in transforming various verticals along with increasing infrastructure activities across the chemical & petrochemicals, industrial robotics, and cable instrumentation sectors. The increasing construction activities of advanced public infrastructure are set to propel the growth of the medium voltage cables in commercial applications.

Regional Analysis

By Region, the study segments the Medium Voltage Cables Market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia Pacific is the largest market in the global medium voltage cables market. The market is projected to reach USD 15840 million by 2030, growing at a rate of 10.5% CAGR. Among the Asia-Pacific countries, China is the largest contributor to the medium voltage cables market. China is a fast-growing economy with energy, aluminum, armaments, cement, chemicals, coal, fertilizers, food processing, iron, machine-building, and mining and ore processing as main sectors, with the energy sector holding approximately 33% of the Asia Pacific market. Furthermore, as population growth and urbanization rates in the region rise, the stress on China’s electricity generation is rapidly intensifying, which in turn will increase the demand for renewable energy sources in China. China is the largest market in the world for solar and wind energy. In solar farms, medium voltage and aluminum cables go from the transformer to the electrical distribution network. Moreover, China doubled its spending on wind projects to $58 billion, while $41 billion went to large-scale solar projects, around three times as much as in the same period in 2021. Medium-voltage MV cables play an important role in wind farms as they are used in underground and overhead power lines, bringing power from the nacelle to the base of the tower and within large turbine generators. With China aiming to expand its wind and solar capacity to 1,200 gigawatts by 2030, the demand for medium voltage carbon is also expected to rise significantly.

Key Findings of the Study

• The global medium voltage cables market is expected to reach USD 47,938.8 Million by 2030, at a CAGR of 5.6% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Installation, the underground cables segment was attributed to holding the largest market in 2022.


• Based on voltage, the 26kV to 50 kV segment was attributed to holding the largest market in 2022.


• Based on Product, the termination cables segment was attributed to holding the largest market in 2022.


• Brugg Kabel AG. (Switzerland), Hellenic Cables (Germany), Eland Cables (England), Prysmian Group (US), SACO AEI Polymers (Wisconsin), Nexans S.A. (France), NKT A/S (Denmark), Sumitomo Electric Industries, Ltd. (Japan), Southwire Company LLC (US) and TPC (US). are the key market players.