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Medium Voltage Cables Market Research Report Information By Installation (Underground, Submarine, and Overhead), By Voltage (Up to 25Kv, 26kV-50kV, 51kV-75kV, and 76Kv-100kV), By Product (Termination Cables, Joints, XLPE Cables, and Others) By End-User (Industrial, Commercial and Utility) and By Region - Global Forecast to 2030


ID: MRFR/E&P/3165-HCR | 111 Pages | Author: Priya Nagrale| August 2025

Medium Voltage Cables Market Summary

As per Market Research Future Analysis, the Global Medium Voltage Cables Market was valued at USD 29,654.9 million in 2022 and is projected to reach USD 47,938.8 million by 2030, growing at a CAGR of 5.6% from 2024 to 2030. The market is driven by the rising demand for renewable energy and infrastructure development, with medium voltage cables being essential for connecting renewable energy sources to the grid. The market is segmented by installation type, voltage, and product, with underground cables dominating the market share in 2022. Key players are investing in R&D to enhance cable performance and meet the growing demand.

Key Market Trends & Highlights

The medium voltage cables market is experiencing significant growth driven by several key trends.

  • The market is projected to grow from USD 29,654.9 million in 2022 to USD 47,938.8 million by 2030.
  • Underground cables held the largest market share in 2022 due to their aesthetic and safety advantages.
  • The demand for medium voltage cables is fueled by the expansion of renewable energy installations, particularly in Asia-Pacific.
  • Technological advancements are leading to improved insulation materials and higher conductor capacities for better efficiency.

Market Size & Forecast

2022 Market Size: USD 29,654.9 million
2030 Market Size: USD 47,938.8 million
CAGR (2024-2030): 5.6%
Largest Regional Market Share in 2022: Asia-Pacific.

Major Players

Key players include Brugg Kabel AG (Switzerland), Hellenic Cables (Germany), Eland Cables (England), Prysmian Group (US), Nexans S.A. (France), and NKT A/S (Denmark).

Single-core cables are used for simple applications, such as connecting a substation to a transformer. Three-core cables are used for more complex applications, such as distributing electricity to a large area. Four-core cables are used for special applications, such as connecting a substation to a wind turbine. medium voltage cables are rated for a specific voltage and current.

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 cables are installed in a variety of ways, depending on the application. 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.

Overhead medium voltage cables are typically supported by towers or poles. Underground medium voltage cables are typically buried in trenches. Substation cables are typically installed in cable trays or duct banks. medium voltage cables are subject to a variety of regulations, including those governing the materials used in the cable, the construction of the cable, and the installation of the cable.

Global Medium Voltage Cables Market Overview

Source: Primary Research, Secondary Research, Market Research Future Database, and Analyst Review

Medium Voltage Cables Market Trends

    • Rising Demand for Renewable Energy and Infrastructure Development Drive Growth for Medium Voltage Cables Market

The medium voltage cables market has witnessed significant growth due to the rising demand for renewable energy and infrastructure development. Renewable energy sources, such as wind, solar, and hydropower, have gained prominence as countries around the world seek to reduce greenhouse gas emissions and mitigate climate change. The transition towards renewable energy is driven by the need to shift away from fossil fuels and towards cleaner and more sustainable sources of power generation. In this context, medium voltage cables have emerged as an essential component of renewable energy systems.

Wind farms, solar parks, and other renewable energy installations require medium voltage cables to transmit the electricity they generate to the electrical grid. These cables are designed to withstand higher voltage levels, typically ranging from 1 kV to 36 kV, which are commonly used in medium voltage applications. They serve as the critical link between the power generation source and the grid, enabling the seamless integration of renewable energy into the existing infrastructure. The growing deployment of renewable energy installations worldwide has driven the demand for medium voltage cables. Countries are investing in wind farms and solar parks, leading to increased production of electricity from these sources. To ensure efficient and reliable transmission of this electricity, medium voltage cables are needed to connect the renewable energy installations to the grid.

Furthermore, the expansion of infrastructure, particularly in emerging economies, has contributed to the growth of the medium voltage cables market. Rapid urbanization, industrialization, and population growth have led to increased electricity consumption. As a result, power transmission and distribution networks need to be expanded to meet the rising demand. Medium voltage cables are crucial for transmitting power over longer distances and connecting power sources to urban centers and industrial areas.

The development of smart grids has further fueled the demand for medium voltage cables. Smart grids are advanced electricity distribution systems that incorporate digital communication and automation technologies. They enable efficient two-way communication and electricity flow between power producers and consumers. Smart grids rely on high-quality medium voltage cables to ensure efficient power transmission and distribution. These cables play a critical role in transmitting power from the generation source to consumers and ensuring the smooth operation of the smart grid infrastructure.

To meet the growing demand for medium voltage cables, manufacturers and suppliers in the market are investing in research and development activities. They aim to enhance cable performance, improve insulation properties, and increase transmission efficiency. Technological advancements in cable materials have led to the development of improved insulation materials and higher conductor capacities, enabling more efficient power transmission, there is a strong focus on energy efficiency and reducing power losses in power transmission and distribution systems. Medium voltage cables with low transmission losses and improved insulation properties are highly sought after. These cables help minimize energy wastage during transmission, leading to improved overall system efficiency and reduced environmental impact.

In conclusion, the rising demand for renewable energy and infrastructure development has been a driving force behind the growth of the medium voltage cables market. The increasing deployment of renewable energy installations and the integration of clean energy into existing infrastructure have led to a surge in demand for medium voltage cables. Furthermore, the expansion of infrastructure and the development of smart grids have further fueled this demand. Manufacturers and suppliers are investing in research and development to enhance cable performance and meet the evolving needs of the market. Overall, the medium voltage cables market is set to continue its growth trajectory in the coming years, driven by the global shift towards renewable energy and the expansion of infrastructure worldwide.

Medium Voltage Cables Market Segment Insights

Medium Voltage Cables Market by Installation Insights

The 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 2022. Underground cables are more aesthetically pleasing than overhead cables. They do not disrupt the landscape and can be installed in areas where overhead cables would not be feasible, such as in historical districts or near airports. Underground cables are safer than overhead cables. They are less likely to cause accidents, such as power outages or fires. Urban areas are becoming increasingly congested, making it difficult to install and maintain overhead cables. Underground cables are a more feasible option for these areas.

Medium Voltage Cables Market by Voltage Insights

The Medium Voltage Cables Market  segmentation based on voltage, the market is segmented as Up to 25Kv, 26kV-50kV, 51kV-75kV, and 76Kv-100kV. 26kV to 50kV cables are compatible with a wide range of applications, including substations, transformers, and medium voltage generator sets. This makes them a versatile option for a variety of customers. 26kV to 50kV cables are widely available from a variety of manufacturers. This makes it easy for customers to find the cables they need and at a competitive price. 26kV to 50kV cables are relatively cost-effective. This makes them a good option for customers who are looking for a reliable and affordable solution.

Medium Voltage Cables Market by Product Insights

The 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 2022 Data centers are one of the major consumers of medium voltage cables. Termination cables are used to connect medium voltage cables to the equipment in data centers. The increasing demand for data centers is driving the demand for termination cables. Renewable energy sources, such as solar and wind power, are often located in remote areas. Termination cables are used to connect medium voltage cables to renewable energy sources and then to the grid. The rising adoption of renewable energy is driving the demand for termination cables.

Medium Voltage Cables Market Regional Insights

By Region, the study segments the Medium Voltage Cables Market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Among them the Asia Pacific region holds a major share in the market of medium voltage cables market, as in Asia Pacific countries are still developing and as population growth and urbanization rates is rising which will affect the market of medium voltage cables market. 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

Medium Voltage Cables Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Medium Voltage Cables Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Medium Voltage Cables Market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global MV power cable to benefit clients and expand the Medium Voltage Cables market sector is to manufacture locally to reduce operating costs. Some of the key players operating in the Medium Voltage Cables Market are 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). To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.

Brugg Kabel AGis one of the leading operators in the underground cable sector, designing, developing, creating, installing, and maintaining electrical cables of all voltage levels. In February 2020, Terna Energy Solutions S.r.l acquired 90% stake in the share capital of Brugg Kabel AG as part of the strategy of Non-Regulated Activities development. The acquisition of Brugg Kabel will allow Terna to insource a center of excellence for research, development, and testing of one of the TSO’s core technologies, such as underground cables. Formerly, Brugg Cables operated as an independent division of the Brugg Group with its own production facilities in Switzerland, China, and Poland and sales and installation offices in Germany, India, and the Middle East.

Hellenic Cablesis a leading European provider of reliable and competitive cable solutions. With 6 manufacturing plants across 3 countries, Cablel® Hellenic Cables covers a wide range of cable products and solutions, from Land and Submarine Power cables to Fiber Optics, Telecommunication cables and Magnet Wires. Cablel® Hellenic Cables operates one of the largest and most advanced submarine cable plants in the world, Fulgor. The plant is undergoing an investment program in excess of EUR 150 million over the last eight years to become a trusted provider of turnkey submarine cable solutions for the Offshore Wind industry and Submarine Interconnections globally.

Key Companies in the Medium Voltage Cables Market includes

    • Brugg Kabel AG. (Switzerland)
    • Hellenic Cables (Germany)
    • Prysmian Group (US)
    • Nexans S.A. (France)
    • NKT A/S (Denmark)
    • Sumitomo Electric Industries, Ltd. (Japan)
    • Southwire Company LLC (US)
    • TPC (US)

Medium Voltage Cables Market Developments

  • Q2 2024: Prysmian Group to supply medium voltage cables for major wind farm project in the UK Prysmian Group announced it has been awarded a contract to supply medium voltage cables for a new offshore wind farm project in the United Kingdom, supporting the country's renewable energy infrastructure.
  • Q2 2024: Nexans inaugurates new medium voltage cable manufacturing facility in Morocco Nexans officially opened a new manufacturing plant in Morocco dedicated to the production of medium voltage cables, aiming to serve growing demand in North Africa and Europe.
  • Q3 2024: Sumitomo Electric Industries wins contract to supply medium voltage cables for solar power project in India Sumitomo Electric Industries announced it secured a contract to provide medium voltage cables for a large-scale solar power installation in India, supporting the country's renewable energy expansion.
  • Q3 2024: NKT signs partnership agreement with German utility for smart grid medium voltage cable solutions NKT entered into a partnership with a major German utility to develop and deploy smart grid-ready medium voltage cable solutions, enhancing grid reliability and digitalization.
  • Q4 2024: Ducab Group launches new range of eco-friendly medium voltage cables Ducab Group introduced a new product line of medium voltage cables featuring enhanced recyclability and reduced environmental impact, targeting sustainable infrastructure projects.
  • Q1 2025: Hellenic Cables secures contract for medium voltage cable supply to Greek transmission operator Hellenic Cables announced it has been awarded a contract to supply medium voltage cables to the Greek transmission system operator for grid modernization projects.
  • Q1 2025: Prysmian Group appoints new CEO to lead global cable operations Prysmian Group announced the appointment of a new Chief Executive Officer, effective March 2025, to oversee its global cable manufacturing and supply operations.
  • Q2 2025: Nexans wins contract to supply medium voltage cables for French rail electrification project Nexans secured a contract to deliver medium voltage cables for a major rail electrification project in France, supporting the country's sustainable transportation initiatives.
  • Q2 2025: Sumitomo Electric Industries expands medium voltage cable production capacity in Vietnam Sumitomo Electric Industries announced the expansion of its medium voltage cable manufacturing capacity at its Vietnam facility to meet rising demand in Southeast Asia.
  • Q2 2025: NKT awarded contract for medium voltage cable supply to Scandinavian wind farm NKT announced it has been selected to supply medium voltage cables for a new wind farm project in Scandinavia, supporting regional renewable energy goals.

Medium Voltage Cables Segmentation

Medium Voltage Cables Installation Outlook

    • Underground,
    • Submarine
    • Overhead

Medium Voltage Cables Voltage Outlook

    • Up to 25Kv
    • 26kV-50kV
    • 51kV-75kV
    • 76Kv-100kV

Medium Voltage Cables Product Outlook

    • Termination Cables
    • Joints
    • XLPE Cables
    • Others

Medium Voltage Cables End Users Outlook

    • Industrial
    • Commercial
    • Utility

Medium Voltage Cables Regional Outlook

    • North America
      • US
      • Canada
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • Spain
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
      • Australia
      • Rest of Asia-Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Rest of Middle East & Africa
    • South America
      • Brazil
      • Argentina
      • Rest of South America
Attribute/Metric Details
Market Size 2022 USD 29,654.9 Million
Market Size 2023 USD 31,654.1 Million
Market Size 2030 USD 47,938.8 Million
Compound Annual Growth Rate (CAGR) 5.6% (2024-2030)
Base Year 2023
Forecast Period 2024-2030
Historical Data 2019 & 2024
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Installation, Voltage, Product and Region
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, and South America
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Saudi Arabia, UAE, Argentina,
Key Companies Profiled 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).
Key Market Opportunities Rising implementation of smart grid technology.
Key Market Dynamics Rising energy demand.·       Favorable government initiatives and policies along with rising investments in clean energy


Frequently Asked Questions (FAQ):

Medium Voltage Cables Market is projected to grow USD 47,938.8 million by 2030

Medium Voltage Cables Market compound annual growth rate (CAGR) of 5.6% during the forecast period 2024 - 2030

North America held the largest market share in the Medium Voltage Cables Market

Key players in the Medium Voltage Cables Market are: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).

Graphene-based PLA filaments Installation led the Medium Voltage Cables Market

Wearables Application had the largest market share in the Medium Voltage Cables Market

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