Press release
Industrial Medium-Voltage Cables Market Latest Trends and Analysis, Future Growth Study by 2032
The global Industrial Medium-Voltage Cables market size was valued at $28.5 billion in 2020, and is projected to reach $49.1 billion by 2030, growing at a CAGR of 5.6% from 2020 to 2030.The International Electrotechnical Commission (IEC) defines medium voltage cable, or MV cable, as having a voltage rating of greater than 1 kV and less than 100 kV. The commercial, industrial, and electrical utility sectors employ medium voltage cable more frequently than other industries. The typical voltage rating for MV (medium voltage) cable ranges from 5 kV to 35 kV, though this range may change according on the manufacturer and standard. In applications ranging from 5kv to 35kv that are used in substations, transformers, and medium voltage generator sets, medium voltage cables are typically used for power supply in bad weather, primary power supply from mobile substation in natural disasters or unpredictable power outages, power supply for construction of substations, power distribution to isolated areas, and other purposes.
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The market for medium voltage cables has been expanding due in large part to rapid industrialisation and urbanization. In developing nations, industrialization and urbanization have accelerated at a considerably faster rate, necessitating the generation, transmission, and distribution of power, which is predicted to raise the demand for medium voltage cables. The industry for medium voltage cables is probably going to grow more as a result of this issue.
The market for medium voltage cables has benefited from advancements in medium voltage cable design. Some participants have made modifications and taken action. The high-performance insulation system technology (HPTE) in P-laser, which was developed by Prysmian, a major player in the cables industry, can replace the widely used medium voltage cross-linked polyethylene insulated XLPE cables. These technological developments might serve as a market restraint.
Market segments for medium voltage cables include voltage, product, installation, end-user, and geography. The market is divided into four product categories: Up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV. It is separated into three categories based on installation: underground, undersea, and overhead. It is divided into industrial, commercial, and utility categories based on end-user. by region, It looked at LAMEA, Europe, Asia-Pacific, and North America.
Global Medium Voltage Cable Market, by Voltage
The 26kV-50kV segment dominated the worldwide medium voltage cable market in terms of voltage in 2020, and it is anticipated that it will continue to develop at the quickest rate during the forecast period. This is explained by its compatibility and accessibility. Moreover, it is extensively utilized in transformers, medium voltage generator sets, and substations.
Global Medium Voltage Cable Market, By Product
The terminating cable segment dominated the worldwide medium voltage cable market in terms of products in 2020, and it is anticipated that it will continue to develop at the quickest rate during the forecast period. The growth of the telecom, datacom, and fiber optic industries is to blame for this.
Market Segmentation
Global Industrial Medium-Voltage Cables Market: Segmentations
Global Industrial Medium-Voltage Cables Market: By Types
XLPE Cables
MI Cable
EPR Cables
Global Industrial Medium-Voltage Cables Market: By Applications
Overhead
Underground
Submarine
Other
Global Industrial Medium-Voltage Cables Market: Major Players
Southwire
General Cable
Marmon
Prysmian
Superior Essex
Nexans
Okonite
Leoni
TPC Wires & Cable
Sumitomo Electric
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Global Industrial Medium-Voltage Cables Market: By Regions
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
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