Medium Voltage Cable Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Medium Voltage Cable Market Trends and Forecast

The future of the global medium voltage cable market looks promising with opportunities in the industrial, commercial, and utility markets. The global medium voltage cable market is expected to reach an estimated $56.4 billion by 2028 with a CAGR of 5.7% from 2023 to 2028. The major drivers for this market are rapid industrialization, rising demand for electricity generation and consumption, and increasing investments in the development of transmission and distribution networks across the globe.

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Medium Voltage Cable Market by Segment

The study includes trends and forecast for the global medium voltage cable market by installation, voltage, product, end use industry, and region, as follows:

Medium Voltage Cable Market by Installation [Shipment Analysis by value from 2017 to 2028]:

• Underground
• Submarine
• Overhead

Medium Voltage Cable Market by Voltage [Shipment Analysis by Value from 2017 to 2028]:

• Up to 25kV
• 26kV-50kV
• 51kV-75kV
• 76kV-100kV

Medium Voltage Cable Market by Product [Shipment Analysis by Value from 2017 to 2028]:

• Termination Cables
• Joints
• XLPE Cables (Cross Linked Polyethylene)
• Others

Medium Voltage Cable Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Industrial
• Commercial
• Utilities

Medium Voltage Cable Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Medium Voltage Cable Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, medium voltage cable companies in the global market cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medium voltage cable companies profiled in this report include:

• General Cable
• Nexans S.A
• NKT Group
• ABB Ltd
• Prysmian
• Southwire Company
• Kabelwerke Brugg
• Eland Cables
• Leoni AG
• Sumitomo Electric

Medium Voltage Cable Market Insights

Lucintel forecasts that underground is expected to remain the largest segment over the forecast period because it ensures low transmission losses and maintenance costs and also helps in incorporating emergency power loads.

Within this market, utility will remain the largest segment due to growing urbanization and increasing number of rural electrification projects along with the advancements in electrical infrastructure.

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.

Features of the Medium Voltage Cable Market

• Market Size Estimates: Medium voltage market size estimation in terms of value.
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Medium voltage market size by various segments, such as by installation, voltage, product, end use industry, and region
• Regional Analysis: Medium voltage market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by installation, voltage, product, end use industry, and regions for the medium voltage cable market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the medium voltage cable market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the medium voltage cable market size?

Answer: The global medium voltage cable market is expected to reach an estimated $56.4 billion by 2028.

Q2. What is the growth forecast for medium voltage cable market?

Answer: The global medium voltage cable market is expected to grow with a CAGR of 5.7% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the medium voltage cable market?

Answer: The major drivers for this market are rapid industrialization, rising demand for electricity generation and consumption, and increasing investments in the development of transmission and distribution networks across the globe.

Q4. What are the major segments for medium voltage cable market?

Answer: The future of the medium voltage cable market looks promising with opportunities in the industrial, commercial, and utility markets.

Q5. Who are the key medium voltage cable companies?

Answer: Some of the key medium voltage cable companies are as follows:

• General Cable
• Nexans S.A
• NKT Group
• ABB Ltd
• Prysmian
• Southwire Company
• Kabelwerke Brugg
• Eland Cables
• Leoni AG
• Sumitomo Electric

Q6. Which medium voltage cable segment will be the largest in future?

Answer:Lucintel forecasts that underground is expected to remain the largest segment over the forecast period because it ensures low transmission losses and maintenance costs and also helps in incorporating emergency power loads.

Q7. In medium voltage cable market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the 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)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity did occur in the last five years and how did they impact the industry?