Press release
Key Trend Reshaping the Medium Voltage Cable Market in 2025: Technological Innovations Drive Eco-Friendly Solutions In The Medium Voltage Cable Market
Medium Voltage Cable Market Size
The historic period saw an escalation in the medium voltage cable market due to the surge in electricity demands. Medium-voltage cables, integral to a power grid, facilitate electrical energy supply to a region. The Covid-19 pandemic saw an increased use of electronic items such as laptops and desktops due to the work-from-home lifestyle, boosting the demand for medium-voltage cables. As per a report by the France-based International Energy Agency (IEA), an autonomous intergovernmental organization, there was a 2.6% rise in electricity demand in the United States in 2022 compared to 2021. Consequently, this escalated demand for electricity fueled the growth of the medium voltage cables market during this period.
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What is the projected compound annual growth rate (CAGR) of the medium voltage cable market from 2025 to 2034, and what factors influence it?
In recent times, the medium voltage cable market has experienced a robust expansion. It is anticipated to rise from $33.46 billion in 2024 to $35.46 billion in 2025, marking a compound annual growth rate (CAGR) of 6.0%. Factors such as the effects of industrialization, enhanced energy requirements, the rise of urbanization and infrastructure, the adoption of renewable energy, and the replacement of aging infrastructure are responsible for this historic period growth.
The market size of medium voltage cables is predicted to witness substantial growth over the upcoming years, increasing to $45.67 billion by 2029 at a compound annual growth rate (CAGR) of 6.5%. The expected growth within this forecast period can be attributed to factors such as supply chain dynamics, energy efficiency regulations, government investments, the adoption of electric vehicles, and urbanization trends. Key trends during this forecast period involve safety & environmental standards, resilience & reliability requirements, the infrastructure for electric vehicle charging, digitalization in the energy sector, and energy transition policies.
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How are the latest trends influencing the growth of the medium voltage cable market?
The medium voltage cable market is being molded by technological advancements. Firms in this market are concentrating on creating environmentally-friendly items. An illustration of this is Philatron, a custom cable and wire producer based in the US, which has created the new Philatron-EF Environmental Friendly Power Cables. They are made from a distinctive blend of recyclable thermoplastics that offer better performance than TR-XLPE (tree-retardant cross-linked polyethylene) and EPR (ethylene propylene rubber). These cables, in addition to having a superior dielectric strength value, are non-toxic and highly recyclable.
What are the major segments of the medium voltage cable market and their role in driving growth?
The medium voltage cable market covered in this report is segmented -
1) By Product: Termination Cables, Joints, Cross-Linked Polyethylene (XLPE) Cables, Other Products
2) By Voltage: Up to 25kV, 26kV-50kV, 51kV-75kV, 76kV-100kV,
3) By Installation: Underground, Submarine, Overhead
4) By Application: Industrial, Commercial, Utility
5) By End Users: Oil And Gas, Energy And Power, Mining, Manufacturing, Transportation, Commercial, Residential
Subsegments:
1) By Termination Cables: Indoor Termination Cables, Outdoor Termination Cables
2) By Joints: Straight Joints, Branch Joints, Transition Joints
3) By Cross-Linked Polyethylene (XLPE) Cables: XLPE Power Cables, XLPE Control Cables
4) By Other Products: Armored Medium Voltage Cables, Unarmored Medium Voltage Cables, Composite Cables
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Which regions are key players in the growth of the medium voltage cable market?
Asia-Pacific was the largest region in the medium voltage cable market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medium voltage cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the medium voltage cable market?
Major companies operating in the medium voltage cable market include Sumitomo Electric Industries Ltd., Hitachi Cable Ltd., Jiangsu Hengtong Cable Co Ltd., General Cable Technologies Corporation, Prysmian Group S.p.A., Nexans France SAS, Furukawa Electric Co Ltd., ZTT Cable Co Ltd., Guangdong Guangyi Electric Power Co Ltd., Pirelli S.p.A., LEONI AG, KEI Industries Limited, Shandong Hengsheng Cable Co Ltd., LS Cable & System Ltd., Ducab DWC LLC, Riyadh Cables Group Company, NKT Holding A/S, Southwire Company LLC, Sterlite Technologies Limited, Brugg Kabel AG, Taihan Electric Wire Co Ltd., Eland Cables Plc, Tratos Cavi S.p.A., Synergy Cables Limited, Chinese Cables & Conductors Co Ltd., Universal Cables Limited, TPC Wire & Cable Corporation, Hanwha Corporation, Jiangsu Jiangnan Cable Group Co Ltd., Cablel S.A.
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What Is Covered In The Medium Voltage Cable Global Market Report?
•Market Size Forecast: Examine the medium voltage cable market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medium voltage cable market for a structured understanding.
•Key Players Overview: Analyze major players in the medium voltage cable market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medium voltage cable market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medium voltage cable market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medium voltage cable market.
•Industry Challenges: Identify potential risks and obstacles affecting the medium voltage cable market.
•Competitive Landscape: Review strategic developments in the medium voltage cable market, including expansions, agreements, and new product launches.
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