Medium Voltage Cables Market Growth, Size & Revenue Analysis 2023-2028

According to the latest report by IMARC Group, titled “Medium Voltage Cables Market Growth, Size, Share, Industry Trends, Opportunity and Forecast 2023-2028″ reached a value of US$ 55.0 Billion in 2022. Looking forward, expects the market to reach a value of US$ 76.3 Billion by 2028 exhibiting a CAGR of 5.34% during 2023-2028.

Medium Voltage Cables Market Overview

Medium voltage cables refer to power cables comprising three layers, including the conductor, insulation screen, and insulation material. They are flexible as well as durable and offer protection against abrasion, tearing and wearing, environmental impacts, etc. Medium voltage cables are safer and cost-effective as they are laid underground with less operation and maintenance costs. These cables provide a reliable power source during unpredictable power outage situations by successfully distributing power to isolated areas. They are easy to install and enhance resistance to pulling, twisting, tension, etc. Consequently, medium voltage cables find wide-ranging applications in several sectors, such as oil and gas, chemical, electrical, etc., across the globe.

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Trends and Drivers in Medium voltage cables Market

The escalating demand for efficient power generation, transmission, and distribution, owing to the increasing levels of industrialization, is primarily driving the medium voltage cables market. Furthermore, the inflating need for renewable energy sources to reduce greenhouse gas emissions is catalyzing the market growth. Besides this, the widespread adoption of medium voltage cables in the mining industry to supply power to drills, shovels, haulers, etc., and the growing focus of the leading manufacturers on various marketing strategies to expand the consumer base are acting as significant growth-inducing factors.

Moreover, the rising utilization of underground cables, on account of the lesser number of annual faults as compared to overhead wires, is positively influencing the global market. Apart from this, extensive investments in R&D activities to introduce high-performance insulating system technology (HPTE) are expected to fuel the medium voltage cables market in the coming years. 

Medium Voltage Cables Market Report Scope
Report Coverage	Details
Market size value in 2022	US$ 55.0 Billion
Market forecast in 2028	US$ 76.3 Billion
Growth Rate	CAGR of 5.34% from 2023 to 2027
Base year for estimation	2022
Historical data	2017-2022
Forecast period	2023-2028
Report coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends
Segments covered	Voltage, Product, Installation And End User
Regional scope	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Key companies profiled	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.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Report Segmentation:

The report has been segmented the market into following categories:

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

Based on the Electronic and Semiconductor sector, the report finds that the utility sector dominates the market.

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

For the competitor segment, the report includes global key players of the Medium Voltage Cables Market.

The major players in the market are 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.

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