Global Medium Voltage Cables Market to Reach $54.2 Billion by 2022

Global Medium Voltage Cables Market is expected to garner $54.2 billion by 2022, registering a CAGR of 6.5% during the forecast period 2015-2022. 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.

Browse Our Research Report on Medium Voltage Cables Market by Installation (Underground, Submarine, Overhead) and End User (Oil & Gas, Mining, Chemicals & Petrochemicals, Cement, Utilities, Paper & Pulp, Wastewater Treatment, Pharmaceutical, Renewable Infrastructure) - Global Opportunity Analysis and Industry Forecast, 2015 – 2022 @ http://www.marketintelreports.com/report/allied0018/world-medium-voltage-cables-market--opportunities-and-forecasts-2015--2022

The market witnessed notable growth owing to rising electricity demand globally, particularly in China, due to rapid industrialization and urbanization. In developed economies, such as Europe, requirement of increasing power generation and expanding wind sector offers significant growth potential. However, fluctuating prices of metals, such as copper, aluminum, and other metals, restrain the market growth. The demand for power infrastructure is driven by growing investments in renewables’ sector, thus offering significant opportunities for growth.

The overhead installation segment accounted for the largest market share of about 57% in 2015. 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.

MEDIUM VOLTAGE CABLES MARKET SEGMENTS:
By Installation: Underground, Submarine and Overhead
By End User:
Industries: Oil & Gas, Mining & Metals, Chemicals & Petrochemicals, Cement & manufacturing, Utilities and Others (Paper & Pulp, Wastewater Treatment, & Pharmaceutical)
Renewable Sector: Wind and Solar
Infrastructure: Transportation and Commercial
By Geography: North America, Asia-Pacific, Europe and LAMEA
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

The report covers the study of the medium voltage cables market based on installations, end user, and geography. Based on installation type, the market is segmented into underground, submarine, and overhead installation. Key end users of medium voltage cables are industries, renewable sectors, and infrastructure sectors. Industries are segmented into oil & gas, mining & metals, chemicals & petrochemicals, cement & manufacturing, utilities and others; renewable sector is segmented into wind and solar; the infrastructure sector is segmented into Transportation and Commercial. Geographically, the classification includes North America (U.S., Canada, and Mexico), Europe (U.K., Germany, and Rest of Europe), Asia-Pacific (China, Japan, India, & rest of Asia-Pacific), and LAMEA (Brazil, Middle East, & Rest of LAMEA).

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Numerous key players are operating in the market which include Prysmian SpA, General Cable Corporation, Nexans, NKT Cables, Sumitomo Electric Industries Ltd., Brugg Cables, Dubai Cable Company Private Limited, Leoni, Southwire, and TPC Wires & Cable Corporation. They have adopted various growth strategies to capture a larger market share and increase their customer base. Product launches, acquisitions, partnerships & agreements, and expansion are the prime growth strategies adopted by these companies to sustain the intense competition in the market. Presently, product launch strategy drives the market. In 2015, Prysmian SPA launched a new range of cable joints and cable termination kits under the Bitherm brand for both medium voltage 11kV polymeric and paper insulated three core cables, and expanded its product offering.

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