Medium Voltage Cables Market Research Report- Forecast to 2030

Medium Voltage Cables Market Information Report by Voltage Rating (1-25 kV, 26-50 kV, 51-75 kV and 76-100 kV), by Installation (Overhead, Underground and Submarine), by End User (Utilities, Industries and Commercial) and by Region - Global Forecast to 2030

ID: MRFR/E&P/3165-HCR | February 2021 | Region: Global | 111 pages

Medium Voltage Cables Market Overview


Medium voltage cable market is expected to grow at a CAGR of more than 6% during the forecasted period.
COVID 19 Analysis


As for the growing pandemic of the year, it is quite difficult to tell whether the medium voltage cables market has depleted or stagnated. Well, it is easy to say that it has not increased because everything has been shut since the year 2020. No one wants to get out of the house just to get a medium voltage cable and risk their lives. The lockdown situation makes it more happening for the market to glide down their profits. It is expected sooner or later the shutdown will be renormalized in the near 2022.


Market Dynamics


Drivers


The medium voltage cable market is usually driven by the increasing need for a reliable electric supply. Also, there are subsequent investments in transmission and distribution networks grid expansion and developing safe electrical infrastructure. Also, the 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. The medium voltage cables anywhere or at any part of the power networks. There is a worldwide demand for electricity supply. And this is mainly from the countries such as China in India where industrialization, as well as urbanization, have boosted.


Opportunities


The medium voltage market has way more opportunities available shortly to grasp and grow. The major opportunity acts as the growing urbanization and industrialization and the need for the power supply in rural areas. Developed economies usually prefer underground cable installations. Medium voltage cable market growth may also have fortunate ease for being available only due to its low cost and easier maintenance.


Restraints


The medium voltage market is strained by the fluctuating material costs in the market of the matter that is made up of. Usually, the stagnation of the price of the material makes way for further growth. But fluctuation in the price usually makes its demands much lower.


Competitive Landscape


The most prominent major key players in the cardamom oil market in the global market are as follows:



  • 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)

  • EL Sewedy Electric Company (Egypt).


These most prominent major key players in the medium voltage cables market in the global market use various strategies and techniques to cater to the increasing need of the customer. As more and more countries are getting industrialized and urbanized. The time demands to install electricity supply at various places. Hence the need for medium voltage cable market revenue is increasing. Also, the medium voltage cable market sizes increased in the past years. They use various policies and strategies like collaborations, mergers, and acquisitions, establishing a joint venture, developing the new production process, innovation in the existing product, expansion of business, and partnership to increase their customer base in the global potential market.


Value Chain Analysis


The medium voltage cable market is growing rapidly due to the various benefits it provides such as many types of electronic installations. Low cost and easier maintenance of the cables. Medium voltage cable such as submarine medium voltage cable is used increasingly in all the parts of Europe due to their largest offshore wind installed capacity.


Market Segmentation


The medium cable market in the global market has been divided based on the type of installation-


Based On The Type Of Installation


The medium cable market has been divided based on the type of installation into overhead underground and submarine. Do overhead installation holds the largest market size because of its increased usage in all the developing economies especially in countries of the South Pacific region. These usually tend to have lower costs and easier maintenance.


Underground cables are used in countries like Europe due to the high population density. In countries of the Asia Pacific region higher organization and industrialization are the estimated reason for the growth of underground cables. Because in regions of Asia Pacific countries the ability of land is low and the sources are limited.


The submitting medium voltage cable is increasingly used in Europe because of their largest offshore wind installed capacity.


Regional Analysis


The medium voltage cable market has been divided based on the region into North America, Europe, and the Asia Pacific.


As per the medium voltage cable analysis. The region of Asia Pacific holds the largest medium voltage cable market share due to the high electricity demand worldwide. Also, China in India due to industrialization and organization has boosted the demand for medium voltage cables in commercial as well as industrial, and utility sectors. In the Asia Pacific region overhead installations are done at a major part because of the lower cost and easier maintenance.


Europe accounts for the second-largest share for the growth of the market value. These regions usually use underground cable installations which is more prevalent due to their developed economies and high population density. What works the best for Europe is the higher urbanizations and faster installation.


As seen from the medium voltage cable outlook data. The third holder in North America is estimated to grow day by day due to the increasing urbanization and industrialization.


Recent Developments



  • Various ratings of the medium voltage cables are introduced in the market such as 1-25 kV, 26-50 kV, 51-75 kV, and 76-100 kV. All this gives flexibility to the market and the companies to provide various voltage patterns. What suits the best to which country in which place seems to be the only task.

  • Various installation procedures are introduced such as overhead installations, underground installations, and submarine installations. These follow medium voltage cable market trends.

  • Due to the low cost, high operational efficiency, improved systems stability, proper load distribution between circuits, easy and quick installation, and convenient virtual deployment of medium voltage cables. These medium voltage cables can be used in the power network anywhere.

  • Great expansions have been done, transmission and distribution networks are established. There is a reliable electrical supply and subsequent investments are made. Also, all these developments are done to enhance the market of medium voltage cables.


Medium voltage cables are those cables with a high voltage rating of more than 1 kV up until 100 KV. The applications of medium voltage cables are mostly due to their low cost, high operational efficiency, improved systems stability, proper load distributions between the circuits, easy and quick installations as well as convenient virtual deployment of the medium voltage cables. And all this is done mostly anywhere in the power network. The reason why medium voltage cables are in demand is due to the growing electricity demand worldwide even in the rural areas. Medium voltage cables are reliable, acceptable both industry and commercial. Medium voltage cables are safe and supply electricity.


Report Overview


The global medium voltage cable market research report consists of the following elements:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global medium voltage cables market research report consists of the factors that drive the medium voltage cable market in the global market along with the factors that restrict the medium voltage cable industry in the global market. This report also contains various growth opportunities in the market in the global market during the forecasted period. The impact of COVID 19 on the market is also estimated. The future growth rate of the medium voltage market in the global market is mentioned.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  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)
  Key Vendors   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).
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Increasing need for reliable electric supply & subsequent investment in transmission & distribution network
  • Developing safe electrical infrastructure


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    Frequently Asked Questions (FAQ) :


    The medium voltage cables market is supposed to mark 6% CAGR.

    The key participants are General Cable Corporation (U.S), NKT Cables Group A/S (Denmark), Nexans S. (France), ABB Ltd. (Switzerland), Sumitomo Electric Industries, Ltd. (Japan), Prysmian S.P. (Italy), Southwire Company, LLC (U.S), LS Cable & System Ltd. (South Korea), Hebei New Baofeng Wire & Cable Co., Ltd. (China), Kabelwerke Brugg AG (Switzerland), and EL Sewedy Electric Company (Egypt).

    By voltage rating, the segments are 26-50 kV, 1-25 kV, 51-75 kV and 76-100 kV.

    The end user segments are industries, utilities, and commercial.

    By installation, the segments profiled are underground, overhead, and submarine.

    The areas covered by the medium voltage cable market are North America, Europe, and the Asia Pacific.