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.
The medium voltage cables market is experiencing significant growth driven by several key trends.
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.
Source: Primary Research, Secondary Research, Market Research Future Database, and Analyst Review
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.
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.
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.
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.
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
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.
| 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 |
Medium Voltage Cables Market Highlights:
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).
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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