Increasing demand for power has led to an increase in the requirement of medium voltage cables market

Medium voltage cable is an indispensable part of electric power distribution, widely used in industrial, renewable and infrastructure sectors. Asia-Pacific held the largest share in the medium voltage cables market in 2015, owing to extensive application of these cables in both the industrial and the infrastructure segment. In developing economies, such as APAC and LAMEA, rapid urbanization is expected for the next 20 years with increased demand for electric power, which would drive the medium voltage cable market. Increasing reliance on power generation by the renewable sector, in order to reduce greenhouse gas emissions has led to investments in wind farms and solar technologies, fueling the market growth across the globe.

Migration from rural to urban areas in developing economies has led to reduced space availability, driving the underground installation of medium voltage cables. Extensive wind capacity addition has propelled the demand for medium voltage cables in developed economies, such as Europe. Key players operating in this market have launched innovative products to strengthen their foothold. For example, Prysmian, a leading player in the cables market, introduced P-laser, which has high-performance insulating system technology (HPTE) that can replace the commonly used medium voltage cross-linked polyethylene insulated XLPE cables. Such technological advancements by leading players ensure the attractiveness of this market.

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Global Medium Voltage Cables Market is expected to garner $54.2 billion by 2022, registering a CAGR of 6.5% during the forecast period 2016-2022. Medium voltage cable is a necessary component for power transmission and distribution in the voltage range of 1000 V to 35 kV. It is used across power, oil & gas, mining, chemicals (industrial), renewables, and infrastructure sector. Asia-Pacific is the largest contributor of medium voltage cables and it is anticipated to be the fastest growing market during the forecast period. Overhead lines show greater penetration in developing economies, such as Asia-Pacific and LAMEA, owing to lower costs. Underground cables have increased adoption in developed economies such as Europe.

Increasing investments in renewables sector

Increasing demand for power has led to an increase in the requirement of medium voltage cables. There is increasing reliability on the renewable sources such as solar and wind energies for power generation over coal and significant investments are made in this sector which ensure the attractiveness of this segment. Continuous investments in this sector and the inclination towards renewable sources of power generation is expected to drive the market in the near future.

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MEDIUM VOLTAGE CABLES MARKET KEY BENEFITS
This study provides an in-depth analysis of the world medium voltage cables market to elucidate the imminent investment pockets.
The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
Porter’s five forces analysis highlights the potency of suppliers & buyers and describes the competitive scenario of the market, which is expected to facilitate efficient business planning.
Value chain analysis provides key inputs on role of key intermediaries involved, which is likely to help the stakeholders in devising appropriate strategies.
This report presents a detailed quantitative analysis of the current trends and future estimations through 2016 and 2022, which assists in identifying the prevailing market opportunities.

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Key Players:

Prysmian SpA
General Cable Corporation
Nexans
NKT Cables
Sumitomo Electric Industries Ltd.
Brugg Cables
Dubai Cable Company Private Limited
Leoni
Southwire
TPC Wires and Cables Corporation

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