Medium Voltage Cables Market Overview :
Global Medium Voltage Cables Market is estimated to reach $66 Billion by 2025; growing at a CAGR of 6.3% from 2017 to 2025. Medium voltage cables, or MV cables are frequently used in mobile substations or for power distribution. They have a voltage range of 2kV to 35kV and are used in industrial plant environments for power distribution, and in the mining industry for supplying power to drills, shovels, haulers, and other machineries. The medium voltage cable designs contain a conductor shield and insulation shield, which protects them from getting damaged. They are easy to install, provide insulation to power systems, and are moisture, heat, and ozone resistant. The concept of medium voltage was only introduced as the level of voltages increased and the need arose for a greater classification range, which now often includes extra low and extra high voltage. Medium voltage cables are extensively used in numerous end-use industries such as power, mining, oil & gas, renewables, chemicals, and infrastructure sector.
Growing demand for electricity due to rapid urbanization & industrialization, and rising need for renewable energy generation are the major factors boosting the growth of the global medium cables market. However, the market consists of certain constraints such as lack of skilled professionals for handling, maintaining and exchange of medium voltage cables, and fluctuating material costs. Moreover, new innovations and technological advancements in order to reduce cost production for medium voltage cables, and implementation of smart grid technology is expected to open up new growth opportunities over the years to come.
Installation, end-user, and geography are the segmentations considered in the global medium voltage cables market. The installation segment comprises underground, submarine, and overhead. Furthermore, industrial (oil & gas, metals and mining, chemicals and petroleum, cement and manufacturing, utilities, and others), renewable sector (wind and solar), and infrastructure (transportation, and commercial) are covered under the end-user segment.
Based on geography, the global medium voltage cables market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexica, whereas Europe consists of UK, Germany, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Key players profiled in the market include General Cable Corporation, Prysmian SpA, ABB Ltd., Nexans, Sumitomo Electric Industries Ltd., NKT Cables, Siemens AG, General Electric Company, Brugg Cables, and Dubai Cable Company Private Limited, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Medium Voltage Cables Market with respect to major segments such as installation, end-user, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Medium Voltage Cables Market has been included in the report
- Profile of the key players in the Global Medium Voltage Cables Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Medium Voltage Cables Market
- Oil & Gas
- Metals and Mining
- Chemicals and Petroleum
- Cement and Manufacturing
- Renewable Sector (Wind and Solar)
- Infrastructure (Transportation and Commercial)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East