A subsidiary of General Cable called NSW, secured a designing contract to produce and deliver 25km of 33kv submarine power cable for submarines from the North-western to the offshore wind farm of Belgium in August 2018. This will help in the growth of the Medium Voltage Cable Market. According to Fortune Business Insights, the global Medium Voltage Cable Market will grow exponentially on account of the rising demand for electricity from all chemical, industrial, infrastructure, oil and gas, power, and other renewable sectors across the globe.
As per the report, the market for medium voltage cable is categorized into end-user, installation, voltage, and geography. Based on the installation, the market for medium voltage cables is divided into the underground, submarine, and overhead cabling. Among them, the overhead cabling was dominating the market and anticipated to continue doing so in the forthcoming years. This is owing to the low installation and material cost, and high transmit power. Besides this, these cables can also detect easy transmission and maintain power line easily, and thus, are anticipated to continue their dominance in the forthcoming years as well.
The report on medium voltage cables by Fortune Business Insights is titled, “Medium Voltage Cable Market Size, Share and Global Trend By Installation (Overhead, Underground, Submarine), By Voltage (Up to 25kV, 26kV-50kV, 51kV-75kV, 76kV-100kV), By End-user (Industrial, Commercial, Utility), and Geography Forecast Till 2026”. The report focusses on important aspects of the market, providing an in-depth analysis of growth drivers and restraints. It also focuses on current trends and opportunities that will influence the market players to expand both geographically and monetarily. All information gathered in the report is gathered from trusted primary and secondary sources.
Some of the companies operating in the global medium voltage cables market include:
- Cable Corporation of India
- LS Cable & System
- Sumitomo Electric
- ABB Group
- Far East Cable Co. Ltd.
- Walsin Lihwa
- Jiangnan Groups Ltd.
- Furukama Electric Groups
- General Electric
- Prysmian Group
Demand for Smooth Power Flow Boost Medium Voltage Cables Market
The need to curb carbon emission has fueled the demand for power derived from renewable sources of energy. Developing economies are focusing on the development of better infrastructure for implementing renewable source generators. These generators will not only be utilized in residential buildings but also used for industrial, healthcare, and commercial sectors. The demand for power generators across various sectors worldwide is a major growth driver for the global medium voltage cables market.
Another factor propelling the growth of medium voltage cables is the increase in investment in smart-grid systems and up-gradation of existing grids for smooth and safe power transmission to end-user. Uninterrupted power supply without any power loss is further expected to bring lucrative opportunities for the future medium voltage cables market growth.
Asia Pacific to Show Significant Growth on Account of High Demand of Equal Power Distribution in Developing Nations
Geographically, the global medium voltage cables market is anticipated to generate large revenue from North America. This is owing to the high investments for the development of infrastructure for renewable power generation such as wind, solar, and others. On the other hand, the governments in Europe region are emphasizing on underground power cable establishment for protection from power outrage in extreme cases of storm or snowfall. This will bode well for the medium voltage cables market revenue in Europe.
Furthermore, Asia Pacific is likely to show significant growth during the forecast period on account of high demand for medium voltage cables to suffice to the needs of inadequate distribution and transmission network for electricity. Countries such as China, Indonesia, and India are the primarily attracting more medium voltage cables market revenue due to the factor listed above, thus helping Asia Pacific emerge as the region with the fastest-growing potential in future.
Key Market Driver – Upcoming renewable energy projects
Key Market Restraint – Volatility in raw material price
1. By Installation
2. By Voltage
- Up to 25kV
3. By End-user
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Major Table of Content For Medium Voltage Cable Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Medium Voltage Cable Market Analysis, Insights and Forecast, 2026
- North America Medium Voltage Cable Market Analysis, Insights and Forecast, 2026
- Europe Medium Voltage Cable Market Analysis, Insights and Forecast, 2026
- Asia Pacific Medium Voltage Cable Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Medium Voltage Cable Market Analysis, Insights and Forecast, 2026
- Latin America Medium Voltage Cable Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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