Market Overview:
The global medium voltage cables market size reached US$
55.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$
76.3 Billion by 2028, exhibiting a growth rate (CAGR) of
5.34% during 2023-2028.
Medium voltage cables are power cables comprising three layers, such as conductor and insulation screen, and insulation material. They are highly flexible and durable and offer protection against abrasion, tearing and wearing, and environmental impacts. They are safer and cost-effective as medium voltage cables are laid underground with less operation and maintenance costs. In addition, they provide a reliable power source during unpredictable power outage situations by efficiently distributing power to isolated areas. Apart from this, they are easy to install, offer a long shelf-life, and improve resistance to pulling, twisting, and tension. As a result, they find extensive applications in oil and gas, mining, chemical, and electrical industries across the globe.
Medium Voltage Cables Market Trends:
Due to rapid industrialization and urbanization, there is a rise in the demand for efficient power generation, transmission, and distribution across the globe. This, along with various innovations in the design of medium voltage cables, represents one of the key factors driving the market. Besides this, key market players are extensively investing in research and development (R&D) activities to introduce high-performance insulating system technology (HPTE) for replacing medium voltage cross-linked polyethylene (XLPE) insulated cables. They are also focusing on various marketing strategies to expand their customer base, which is contributing to the growth of the market. In addition, the growing demand for renewable energy sources to reduce greenhouse gas emissions and air pollution is positively influencing the market. Moreover, the increasing demand for underground cables on account of the lesser number of annual faults compared to overhead cables is offering lucrative growth opportunities to industry investors. Apart from this, the rising utilization of medium voltage cables in the mining industry to supply power to drills, shovels, and haulers is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medium voltage cables market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on voltage, product, installation and end user.
Breakup by Voltage:
- Up to 25kV
- 26kV-50kV
- 51kV-75kV
- 76kV-100kV
Breakup by Product:
- Termination Cables
- Joints
- XLPE Cables
- Others
Breakup by Installation:
- Underground
- Submarine
- Overhead
Breakup by End User:
- Industrial
- Commercial
- Utility
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Brugg Cables (Shanghai) Co. Ltd., Eland Cables, Hellenic Cables S.A., LS Cable & System (LS Group), Nexans S.A., NKT A/S, Prysmian S.p.A., Riyadh Cables, Southwire Company LLC, Sumitomo Electric Industries Ltd., Synergy Cables and TPC Wire & Cable.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2022 |
Historical Period |
2017-2022 |
Forecast Period |
2023-2028 |
Units |
US$ Billion |
Segment Coverage |
Voltage, Product, Installation, End User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
ABB Ltd, Brugg Cables (Shanghai) Co. Ltd., Eland Cables, Hellenic Cables S.A., LS Cable & System (LS Group), Nexans S.A., NKT A/S, Prysmian S.p.A., Riyadh Cables, Southwire Company LLC, Sumitomo Electric Industries Ltd., Synergy Cables and TPC Wire & Cable |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global medium voltage cables market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global medium voltage cables market?
- What are the key regional markets?
- What is the breakup of the market based on the voltage?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the installation?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global medium voltage cables market and who are the key players?
- What is the degree of competition in the industry?