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Medium Voltage Cables Market is Set to Grow $54.2 billion with at CAGR of 6.5% by 2022

December 18, 2019 | About:

Global Medium Voltage Cables Market is expected to garner $54.2 billion by 2022, registering a CAGR of 6.5% during the forecast period 2016-2022. Asia-Pacific was the largest market of medium voltage cables, accounting for around 36% of the market revenue in 2015. Increasing requirement of electricity due to rapid urbanization and industrialization is fueling the demand for medium voltage cables in the region.

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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 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.

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Key findings of the study:

• Asia-Pacific is the highest revenue-generating region in the world medium voltage cables market.

• LAMEA is anticipated to be the fastest growing market during the forecast period.In terms of market by installation, the submarine segment is likely to be the fastest growing segment during 2016-2022.

• Renewable sector is estimated to be the fastest growing end-user segment during the forecast period.

The key players profiled in the report are Prysmian SpA, General Cable Corporation, Nexans, Dubai Cable Company Pvt. Ltd, NKT Cables, Brugg Cables, Sumitomo Electric Industries Ltd, Leoni, TPC Wire and Cable Corporation, and Southwire Company.

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About us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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