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Medium Voltage Cable Accessories Market Estimated to Experience a Hike in Growth By 2030
Medium Voltage Cable Accessories Market
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Medium voltage power cable from 3.3.KV to 33kV. Medium voltage cable connectors are primarily used to connect and secure different-sized cables. Besides, it provides complete protection to internal as well as external equipment. It enhances the efficiency and reliability of a network or grid. According to applications of medium voltage cable accessories, i.e., indoor or outdoor, different kinds of accessories are available in the market and their selection primarily depends on operating parameters, site conditions, and cable types.
A substantial investment in the construction sector majorly drives the growth of the global medium voltage cable accessories market, as the growth of the construction sector directly increases the demand for medium voltage cable accessories for new constructions. Moreover, the surge in the use of underground cables with rising urbanization and industrialization, a surge in investments for infrastructure development both by the private and public sectors, and an increase in focus on sustainable ways of generating electricity are expected to boost market growth. Furthermore, growth in the adoption of e-mobility, a rise in government initiatives to provide electricity for all, and a surge in the number of data centers are expected to provide lucrative growth opportunities for the market. However, the high rate of failure of heat-shrink medium voltage cable accessories is expected to hinder the growth of the global medium voltage cable accessories market analysis.
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Competitive Analysis:
The Medium Voltage Cable Accessories industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players in the global Medium Voltage Cable Accessories Market include,
Prysmian
3M
REPL International
BEHR BIRCHER CELLPACK BBC AG
TE Connectivity
Phoenix Technology Group Co. Ltd
Nexans
Sumitomo Electric U.S.A.
Yamuna Infra & Technology Pvt. Ltd.
Compaq International (P) Ltd.,
ABB, NKT A/S
The overhead segment was the highest contributor to the market in 2019. The overhead and underground segments collectively accounted for around 75% market share in 2019. The industrialization of developing countries fuels the growth of the overhead segment, thereby enhancing the global medium voltage cable accessories market growth.
The emergence of COVID-19 has significantly impacted the global medium voltage cable accessories market growth. End-user industries of global medium voltage cable accessories were adverse during the COVID-19 pandemic. Further, there has been an increase in the demand for these cables from the healthcare sector is expected to drive the medium voltage cable accessories market trends in the coming future.
The key players profiled in the report include 3M, Compaq International (P) Limited, Nexans, NKT A/S, Phoenix Technology Group Co., Ltd., Raychem AG, REPL International Limited, Sumitomo Electric U.S.A., Inc., TE Connectivity, ABB Group, Prysmian, and Yamuna Infra & Technology Pvt. Ltd. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the medium voltage cable accessories market share.
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Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medium voltage cable accessories market analysis from 2020 to 2030 to identify the prevailing medium voltage cable accessories market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the medium voltage cable accessories market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global medium voltage cable accessories market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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