Medium Voltage Power Cable Market Size, Growth & Statistics Report from 2023 to 2030

November 03 19:50 2023
Medium Voltage Power Cable Market Size, Growth & Statistics Report from 2023 to 2030
Medium Voltage Power Cable Market
The global medium voltage power cable market size was valued at over USD 33 billion in 2022 and is projected to grow at a CAGR of 4.9% from 2023 to 2030.

In 2022, the global medium voltage power cables market exceeded USD 33 billion in value. Over the forecast period spanning from 2023 to 2030, it is anticipated to expand at a compounded annual growth rate (CAGR) of 4.9%. These cables play a crucial role in transmitting and distributing electrical power across diverse applications, encompassing industrial, commercial, and residential sectors. The escalating need for electricity, in conjunction with the flourishing renewable energy industry, is propelling the demand for medium voltage power cables.

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Market Trends:

  • Increasing urbanization and industrialization: Urbanization and industrialization are leading to increased demand for electricity, which is driving the demand for medium voltage power cables.
  • Growing deployment of renewable energy sources: Renewable energy sources, such as solar and wind power, are increasingly being deployed to meet growing electricity demand. Medium voltage power cables are essential for connecting renewable energy sources to the grid.
  • Expansion of power transmission and distribution networks: Utilities are investing in expanding their power transmission and distribution networks to meet growing electricity demand and to improve the reliability of the grid. Medium voltage power cables are used in these networks to transmit and distribute electricity from power plants to substations and then to consumers.
  • Aging infrastructure: Much of the existing medium voltage power cable infrastructure is aging and needs to be replaced. This is creating a significant replacement demand for medium voltage power cables.
  • Technological advancements: Manufacturers of medium voltage power cables are constantly developing new and innovative technologies to improve the performance, reliability, and durability of their products. This is making medium voltage power cables more attractive to users.

According to the recent report published by RC Market Analytics, the Global Medium Voltage Power Cable Market is expected to provide sustainable growth opportunities during the forecast period from 2023 to 2030. This latest industry research study analyzes the medium voltage power cable market by various product segments, applications, regions and countries while assessing regional performances of numerous leading market participants. The report offers a holistic view of the medium voltage power cable industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.

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Geographically, the medium voltage power cable market report comprises dedicated sections centering on the regional market revenue and trends. The medium voltage power cable market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Medium voltage power cable market estimates have also been provided for the historical years 2020 & 2021 along with forecast for the period from 2023 – 2030.The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, Italy, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.

The Medium Voltage Power Cable Market Segmentation:

By Voltage:

  • 6kV – 10 kV
  • 11 kV – 20 kV
  • 21 kV – 30 kV
  • Above 30 kV

By Material:

  • Aluminum
  • Copper

By Installation:

  • Overhead
  • Underground
  • Submarine

By Core Type:

  • Single Core
  • Triple Core

By End-Use:

  • Utilities
  • Industrial
  • Commercial

By Region:

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

Some of the key players operating in the market include Prysmian Group, Nexans S.A., NKT A/S, General Cable Corporation, LS Cable & System Ltd., Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., Southwire Company, LLC, Riyadh Cables Group of Companies, and Elsewedy Electric Company.

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Key Questions Answered by Medium Voltage Power Cable Market Report:

  • Product popularity and adoption based on various country-level dynamics
  • Regional presence and product development for leading market participants
  • Market forecasts and trend analysis based on ongoing investments and economic growth in key countries
  • Competitive landscape based on revenue, product offerings, years of presence, number of employees and market concentration, among others
  • Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to Medium Voltage Power Cable market
  • Analysis of the key factors driving and restraining the growth of the global, regional and country-level markets from 2020-2027

About Us: RC Market Analytics is a global market research firm. Our insightful analysis is focused on developed and emerging markets. We identify trends and forecast markets with a view to aid businesses identify market opportunities to optimize strategies. Our expert’s team of analysts’ provides enterprises with strategic insights. RC Market Analytics works to help enterprises grow through strategic insights and actionable solutions. Feel free to contact us for any report customization at [email protected].

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