Medium Voltage Cable Global Market Report 2026

Medium voltage cables are electrical cables with a voltage rating between 1000V and 30KV, typically made of aluminum or copper conductors and used in various applications such as mobile substations, industrial power distribution, and transportation systems.

Medium voltage cables consist of termination cables, joints, Cross-Linked Polyethylene (XLPE) cables, and other products. Termination cables connect fibers or wires to devices such as panels or equipment. These cables have voltages up to 25kv, 26kv-50kv, 51kv-75kv, and 76kv-100kv, and can be installed underground, underwater, or overhead in industrial, commercial, and utility applications. Users of medium voltage cables include industries such as oil and gas, energy and power, mining, manufacturing, transportation, as well as commercial and residential sectors.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are influencing the medium voltage cable market by raising import costs for copper, aluminum, polymers, and insulation materials, which has increased manufacturing expenses and slowed procurement cycles. Regions with heavy dependence on raw material imports, such as Asia Pacific, Europe, and Latin America, are most affected, along with segments including xlpe cables, joints, and termination systems. However, tariffs are also encouraging domestic production, boosting localized material sourcing, and driving innovation toward cost efficient and environmentally friendly cable technologies.

The medium voltage cable market research report is one of a series of new reports from The Business Research Company that provides medium voltage cable market statistics, including medium voltage cable industry global market size, regional shares, competitors with a medium voltage cable market share, detailed medium voltage cable market segments, market trends and opportunities, and any further data you may need to thrive in the medium voltage cable industry. This medium voltage cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medium voltage cable market size has grown strongly in recent years. It will grow from $35 billion in 2025 to $37.19 billion in 2026 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rise in industrial power distribution needs, expansion of metro and rail electrification, increased deployment of mobile substations, growth in mining and oil and gas operations, adoption of xlpe based cable systems.

The medium voltage cable market size is expected to see strong growth in the next few years. It will grow to $47.06 billion in 2030 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing smart grid modernization projects, rising demand for underground cable installations, expansion of renewable energy integration, increase in utility scale power distribution upgrades, adoption of digital monitoring for medium voltage networks. Major trends in the forecast period include growth of sustainable medium voltage cable materials, rising adoption of cables for electrified transportation networks, expansion of smart grid compatible medium voltage cables, increased use of intelligent manufacturing for cable production, growing need for digitally monitored power distribution networks.

The growing demand for electricity has significantly propelled the medium voltage cable market in the historical period. Medium-voltage cables play a crucial role in supplying electrical energy to regions within a power grid. The pandemic further heightened the demand for electronic devices, such as laptops and desktops, due to the surge in remote work culture, which subsequently increased the need for medium-voltage cables. For example, in February 2023, the International Energy Agency, a France-based autonomous intergovernmental organization, reported that global electricity demand is expected to grow by 3% per year from 2023 to 2025, compared with the growth rate in 2022. Consequently, the increasing demand for electricity has driven the growth of the medium voltage cable market during this period.

Major players in the medium voltage cable market are embracing a strategic partnership approach concerning framework agreements for medium voltage cables. This approach involves companies leveraging each other's strengths and resources to achieve mutual benefits and success. For instance, in June 2023, Prysmian Group S.p.A., an Italy-based manufacturer specializing in electrical cables for the energy and telecommunications sectors, along with optical fiber production, announced a partnership with National Grid PLC, a UK-based utility company for electricity and gas. The collaboration aims to modernize the UK's power grid, enabling it to accommodate increased power distribution in the future, crucial for the ongoing energy transition. Prysmian's manufacturing facility in Wrexham, North Wales, will predominantly supply medium voltage cables to aid National Grid in expanding and modernizing its network to meet rising demands.

In July 2024, Prysmian Group, an Italy-based provider of energy and telecom cable solutions, acquired Encore Wire Corporation for $4.2 billion. Through this acquisition, Prysmian aims to expand its North American presence, enhance its product portfolio in electrical distribution cables-including the medium-voltage segment-and drive growth in grid modernization and electrification. Encore Wire Corporation is a US-based manufacturer of copper and aluminum electrical wires and cables, providing solutions for power generation and distribution.

Major companies operating in the medium voltage cable market are Sumitomo Electric Industries Ltd., Hitachi Cable Ltd., Jiangsu Hengtong Cable Co Ltd., General Cable Technologies Corporation, Prysmian Group S.p.A., Nexans France SAS, Furukawa Electric Co Ltd., ZTT Cable Co Ltd., Guangdong Guangyi Electric Power Co Ltd., Pirelli S.p.A., LEONI AG, KEI Industries Limited, Shandong Hengsheng Cable Co Ltd., LS Cable & System Ltd., Ducab DWC LLC, Riyadh Cables Group Company, NKT Holding A/S, Southwire Company LLC, Sterlite Technologies Limited, Brugg Kabel AG, Taihan Electric Wire Co Ltd., Eland Cables Plc, Tratos Cavi S.p.A., Synergy Cables Limited, Chinese Cables & Conductors Co Ltd., Universal Cables Limited, TPC Wire & Cable Corporation, Hanwha Corporation, Jiangsu Jiangnan Cable Group Co Ltd., Cablel S.A.

Asia-Pacific was the largest region in the medium voltage cable market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medium voltage cable market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the medium voltage cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The medium voltage cable market consists of sales of single-core cables, triple-core cables, single-core triplex, ethylene propylene rubber (EPR) cables, low or medium-density polyethylene cables, polyvinyl chloride (PVC), and low smoke zero halogens (LSZH) cables. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Medium Voltage Cable Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses medium voltage cable market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for medium voltage cable ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The medium voltage cable market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product: Termination Cables; Joints; Cross-Linked Polyethylene (XLPE) Cables; Other Products
• 2) By Installation: Underground; Submarine; Overhead
• 3) By Application: Industrial; Commercial; Utility
• 4) By End Users: Oil And Gas; Energy And Power; Mining; Manufacturing; Transportation; Commercial
• Subsegments:
• 1) By Termination Cables: Indoor Termination Cables; Outdoor Termination Cables
• 2) By Joints: Straight Joints; Branch Joints; Transition Joints
• 3) By Cross-Linked Polyethylene (XLPE) Cables: XLPE Power Cables; XLPE Control Cables
• 4) By Other Products: Armored Medium Voltage Cables; Unarmored Medium Voltage Cables; Composite Cables
• Companies Mentioned: Sumitomo Electric Industries Ltd.; Hitachi Cable Ltd.; Jiangsu Hengtong Cable Co Ltd.; General Cable Technologies Corporation; Prysmian Group S.p.A.; Nexans France SAS; Furukawa Electric Co Ltd.; ZTT Cable Co Ltd.; Guangdong Guangyi Electric Power Co Ltd.; Pirelli S.p.A.; LEONI AG; KEI Industries Limited; Shandong Hengsheng Cable Co Ltd.; LS Cable & System Ltd.; Ducab DWC LLC; Riyadh Cables Group Company; NKT Holding A/S; Southwire Company LLC; Sterlite Technologies Limited; Brugg Kabel AG; Taihan Electric Wire Co Ltd.; Eland Cables Plc; Tratos Cavi S.p.A.; Synergy Cables Limited; Chinese Cables & Conductors Co Ltd.; Universal Cables Limited; TPC Wire & Cable Corporation; Hanwha Corporation; Jiangsu Jiangnan Cable Group Co Ltd.; Cablel S.A.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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