Medium Voltage Cable Market by Voltage (Up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV), Product (Termination cables, Joints, XLPE Cables, and Others), Installation (Underground, Submarine, and Overhead), and End User (Industrial, Commercial, and Utility): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global medium voltage cable market was valued at $28.5 billion in 2020, and is projected to reach $49.1 billion by 2030, growing at a CAGR of 5.6% from 2020 to 2030.
A medium voltage cable is an electrical cable, an assembly of one or more electrical conductors, usually held together with an overall sheath. The assembly is used for transmission of electrical power. Medium voltage cables may be installed as permanent wiring within buildings, buried in the ground, run overhead, or exposed. These cables are single or multi-conductor cable rated for 2001 volts up to 35,000 volts. Type MV cables are typically specified as either an MV-90 or an MV-105, with the 90 or 105 designating the maximum conductor temperature in degrees Celsius
Project planning for medium voltage cables requires significant complex discussions and huge capital investments for which it requires authorizations, hence it takes a lot of time. Delays in authorizations for these projects and delays in release of funding restrain the growth of medium voltage cables market to a certain extent. Copper and aluminum are metals that are used as conductors to manufacture cables. Volatility in the cost of these metals being traded in the exchange markets cause their prices to go up or down responding to the market forces. Fluctuations in these metal prices are expected to restrain the market of the medium voltage cables to a certain extent due to uncertainties of the market forces. Increased demand for power has led to an increase in the requirement of medium voltage cables. There is increased reliability on the renewable sources such as solar and wind energies for power generation over coal and significant investments are made in this sector that ensures the attractiveness of this segment. Continuous investments in this sector and the inclination toward renewable sources of power generation are expected to drive the market in the near future.
The medium voltage cable market is segmented on the basis of voltage, product, installation, end-user, and region. By product, the market is categorized into Up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV. On the basis of installation, it is divided into underground, submarine and overhead. On the basis of end-user, it is classified into industrial, commercial, and utility. Region wise, it analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global medium voltage cable market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Brugg Cables, Eland Cables Ltd., Hellenic Cable Industry S.A., Leoni, Nexans, NKT Cables, Prysmian SpA, Southwire, Sumitomo Electric Industries and TPC Wire and Cable Corporation.
KEY MARKET SEGMENTS
By Voltage
Up to 25kV
26kV-50kV
51kV-75kV
76kV-100kV
By Product
Termination Cables
Joints
XLPE Cables
Others
By Installation
Underground
Submarine
Overhead
By End User
Industrial,
Commercial
Utility
By Region
North America
Europe
Asia-Pacific
LAMEA
KEY MARKET PLAYERS
Brugg Cables
Eland Cables Ltd.
Hellenic Cable Industry S.A.
Leoni
Nexans
NKT Cables
Prysmian SpA
Southwire
Sumitomo Electric Industries
TPC Wire and Cable Corporation
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