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Medium Voltage Cables Market 2021 to Garner Brimming Revenues by 2027

05-13-2021 06:39 PM CET | Energy & Environment

Press release from: Allied Market Research

Medium Voltage Cables Market

Medium Voltage Cables Market

The overhead installation segment accounted for the largest medium voltage cables market share of about 57%. Factors such as lower installation cost and easier maintenance in comparison to underground cables has led to its wider adoption, primarily in developing economies. However, the submarine installation is expected to be the fastest growing segment owing to increasing investments in the offshore wind generation technology for power generation. The underground segment is expected to grow at a notable pace on account of longer life, lower transmission losses, and limited space availability for new overhead installations.

Rapid industrialization and urbanization has been the key driving factor sustaining the growth of the medium voltage cables market. Industrialization and urbanization has been increasing at a much faster pace in the developing economies, resulting in more requirements for power generation, transmission, and distribution and thus is expected to boost the requirement of medium voltage cables. This factor is likely to increase the growth of medium voltage cables industry.

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Medium voltage cables are used across industrial, infrastructure, and renewables sector. Industrial segment accounted for the largest share in 2015 owing to the extensive usage of these cables in oil & gas, metals & mining, chemicals & petrochemicals, cement & manufacturing, utilities, pulp and paper and other industries. Renewables sector is anticipated to grow at the fastest rate over the forecast period on account of increasing demand for wind and solar power across the world.

Medium voltage cables market share is anticipated to increase in Asia-Pacific region, owing to rapid industrialization and urbanization. The China is anticipated to lead the market and witness high demand for medium voltage cables.

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The medium voltage cables market analysis covers in depth information of major industry participants. The major companies profiled in the report include, PrysmianSpA, General Cable Corporation, Nexans, NKT Cables, Sumitomo Electric Industries Ltd., Brugg Cables, Dubai Cable Company Private Limited, Leoni AG, Southwire Company LLC, TPC Wires and General Cables Corporation.

Other medium voltage cables market players (not profiled in report) in the value chain include, ABB LTD., Tele Fonika Cable Ltd., KabelwerkeBrugg AG, LS Cable & System Ltd., EL Sewedy Electric Company, Hebei New Baofeng Wire & Cable Co., Ltd.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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