Overview
The global Medium Voltage Cables Market is expected to exhibit a strong 6% CAGR over the forecast period from 2018 to 2023, according to the latest research report released by Market Research Future (MRFR). The global medium voltage cables market is studied in detail in the report, which takes a close look at the major drivers and restraints behind the market’s progress and delivers a complete analysis of the factors likely to have a major impact on the market’s growth trajectory over the forecast period.
The medium voltage cables market has been driven primarily by the growing demand for rural electrification in emerging countries around the world. The growing government efforts in regions such as South America, Central America, the Middle East, and Asia Pacific to extend the mainline grid to remote areas have resulted in a growing demand for medium voltage cables.
Medium voltage cables are preferred in a majority of electricity transmission operations due to their low costs and high performance capability. Medium voltage cables provide high operational efficiency as well as easy installation, making them the preferred choice all over the world. Medium voltage cables are the perfect choice for expanding the power distribution grid, as they can cheaply installed across large distances, bridging gaps at relatively minor costs. The growing demand for electrical connectivity in developing countries around the world is likely to be the major driver for the global medium voltage cables market over the forecast period.
Competitive Analysis:
Leading players in the global medium voltage cables market include EL Sewedy Electric Company, LS Cable & System Ltd., Hebei New Baofeng Wire & Cable Co. Ltd., Kabelwerke Brugg AG, Southwire Company LLC, Sumitomo Electric Industries Ltd., Prysmian SpA, ABB Ltd., NKT Cables Group A/S, Nexans S.A., and General Cable Corporation.
Segmentation:
The global medium voltage cable market is segmented on the basis of four criteria for a comprehensive analysis of the market’s global conditions and spread: Installation type, voltage rating, end use, and region.
By installation, the global medium voltage cables market is segmented into overhead, submarine, and underground. Overhead cabling is likely to account for the highest demand for medium voltage cables over the forecast period due to the growing demand for long-distance overhead cabling in emerging regions around the world.
By voltage rating, the global medium voltage cables market is segmented into 1-25 kV, 26-50 kV, 51-75 kV, and 76-100 kV.
By end use, the global medium voltage cables market is segmented into utilities, industrial, and commercial.
Regional Analysis:
The global medium voltage cables market is segmented into North America, Europe, Asia Pacific, and rest of the world on the basis of region.
Asia Pacific is likely to dominate the global medium voltage cables market over the forecast period due to the rapid urbanization in the region, which has led to a growing demand for new cables. The growing demand for electricity grids in emerging countries such as China and India is likely to be a major driver for the global medium voltage cables market in Asia Pacific over the forecast period. The growing government support to expansion of the utilities sector is also likely to be a key driver for the medium voltage cables market in Asia Pacific over the forecast period.
Europe is also likely to be a leading consumer in the global medium voltage cables market due to the increasing consumption of submarine medium voltage cables in Europe’s offshore wind farms. The growing popularity of offshore wind farms in Europe is likely to be a key driver for the medium voltage cables market in the region, as the availability of reliable cabling is vital for ensuring the success of a wind farm.
North America is also likely to remain one of the leading players in the global medium voltage cables market size over the forecast period due to the growing demand for refurbishment of older power transmission equipment and infrastructure.
Industry Updates:
In June 2018, Prysmian announced its acquisition of General Cable.
Access Report Details @ https://www.marketresearchfuture.com/reports/medium-voltage-cables-market-4584
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Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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