According to the recent study the medium voltage cable market is projected to reach an estimated $56.4 billion by 2028 from $42.7 billion in 2023, at a CAGR of 5.7% from 2023 to 2028. Growth in this market is primarily driven by rapid industrialization, rising demand for electricity generation and consumption, and increasing investments in the development of transmission and distribution networks across the globe.
A more than 150–page
report is developed to understand trends, opportunities and forecast in medium
voltage cable market by installation (underground, submarine, and overhead),
voltage (up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV), product
(termination cables, joints, XLPE cables (cross linked polyethylene), and
others), end use industry (industrial, commercial, and utilities), and region
(North America, Europe, Asia Pacific, and the Rest of the World).
“Underground market is expected to remain the largest segment
during the forecast period.”
Based on installation,
the medium voltage cable market is segmented into underground, submarine, and
overhead. Lucintel forecasts that the underground market is expected to remain
the largest segment because it ensures low transmission losses and maintenance
costs and also helps in incorporating emergency power loads.
“Within the medium voltage cable market, the utility segment is
expected to remain the largest end use industry.”
Based on end use
industry the utility segment is expected to witness the highest growth over the
forecast period due to growing urbanization and increasing number of rural
electrification projects along with the advancements in electrical
infrastructure.
“Asia pacific will dominate the medium voltage cable market in
near future.”
APAC will remain the
largest segment over the forecast period due to growing population, rising
living standards, and increase in energy
demand associated with urbanization across the region.
Major players of medium
voltage cable market are adopting various growth strategies like new product
launches, expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. General Cable, Nexans
S.A, NKT Group, ABB Ltd, Prysmian, Southwire Company, Kabelwerke Brugg, Eland
Cables, Leoni AG, and Sumitomo Electric are among the major medium voltage
cable providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal, ZACKS,
and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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