Global Medium-voltage Cable Market Overview, 2023-28

Energy is a necessity for the proper operation of daily life in both tiny homes and large industrial complexes. Different kinds of cable assemblies are frequently used to transport electricity inside and outside of buildings. The majority of medium-voltage cables are deployed across distribution networks and are made from a variety of materials, including copper and aluminium. These items significantly contribute to the high efficiency and safety of power delivery to a variety of application verticals. Energy consumption has significantly increased over time in both developed and emerging nations, which has benefited the worldwide economy. Numerous countries have also made large expenditures to modernise their transmission and distribution networks and ensure dependable electricity supply in a variety of industries. Furthermore, in order for different countries to keep up with the rapid growth, advanced energy infrastructure is now required due to rising industrialization and urbanisation. Additionally, there will likely be a large increase in demand for medium-voltage cables due to the rising cost of creating energy-efficient substructures with overhead and underground electrical systems. As a result, effective medium-voltage cables and their accessories are needed to transport energy to the remote parts of several countries, which supports the expansion of the sector. Since medium-voltage cables are buried, they are safer and more economical to operate and maintain. Additionally, by effectively distributing power to remote places, they offer a dependable power supply during unforeseen power outages. In addition to this, they increase resistance to tugging, twisting, and tension and are simple to install. They thus have a wide range of uses in the mining, chemical, electrical, and oil and gas sectors all over the world.

According to the research report, "Global Medium Voltage Cable Market Overview, 2023-2028", published by Bonafide Research the market is expected to reach USD more than 61.05 Billion by 2028 with a significant CAGR of 7.10 % from USD 40.80 Billion in 2022. The global need for effective power generation, transmission, and distribution is increasing as a result of rising industrialization and urbanisation. This is one of the main elements influencing the industry, coupled with different improvements in medium-voltage cable design. In addition, major market participants are heavily funding R&D projects to create high-performance insulating system technology (HPTE) to replace medium-voltage cross-linked polyethylene (XLPE) insulated cables. Additionally, they are concentrating on various marketing techniques to increase their clientele, which is assisting in the market's expansion. The market is also being positively impacted by the rising need for renewable energy sources to cut down on greenhouse gas emissions and air pollution. Additionally, the lower yearly fault rate for underground cables compared to above-ground cables is driving up demand, providing profitable expansion prospects for business investors. In addition, the growing use of medium-voltage cables in the mining sector to power drills, shovels, and haulers is promoting market expansion. Many nations need to repair and modernise their outdated power transmission and distribution systems. To increase the effectiveness and dependability of the grid, this leads to a substantial demand for medium-voltage cables. The market is anticipated to increase as a result of the introduction of cutting-edge technologies in the medium voltage cable industry, such as high-temperature superconducting cables and eco-friendly materials, which provide improved efficiency, decreased losses, and improved performance.

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa are among the five geographic divisions of the market. The medium-voltage cable market is currently being led by the Asia-Pacific region. Strong economic growth, nations' quick electrification goals, rising energy consumption, and optimised cable manufacturing capabilities are only a few of the main elements encouraging regional growth. Particularly in nations like China, India, and Southeast Asian countries, the Asia-Pacific region is witnessing rapid industrial growth and urbanisation. In order to sustain the rising power infrastructure needed for industrial and urban expansion, this has resulted in a rise in demand for medium-voltage cables. A number of Asia-Pacific nations, particularly China and India, have been making significant investments in renewable energy sources such as wind and solar energy. Large-scale medium-voltage cable deployment is necessary for the grid's integration of renewable energy sources in order to transmit electricity effectively. Governments in the Asia-Pacific area are making significant investments in the construction of infrastructure, including the generation, transmission, and distribution of electricity. As a result of these investments, there is a substantial need for medium-voltage cables throughout the entire power grid.

Based on installation type, the market is segmented into overhead, underground and submarine. Underground installation is holding the highest market share of the medium voltage cable market globally. As urban areas become more densely populated, there is limited space available for overhead power lines. Underground installation of medium voltage cables offers a solution to overcome space constraints, especially in urban environments where land is valuable and scarce. Furthermore, Underground medium voltage cables are less susceptible to disruptions caused by adverse weather conditions, such as strong winds, ice, or lightning. They are also less prone to damage from falling trees, wildlife, or accidental contact, resulting in a more reliable power supply. This reliability is particularly crucial in critical infrastructure areas such as hospitals, data centers, and transportation networks. While underground installation of medium voltage cables typically involves higher initial investment and installation costs compared to overhead lines, it offers long-term cost savings. Underground cables require less maintenance, have longer lifespan, and experience fewer outages, leading to reduced operational and repair expenses over time.

Companies mentioned in the report:
Nexans S.A., Prysmian S.p.A., Elsewedy Electric Co S.A.E., Amphenol Corporation, Belden Incorporated, Te Connectivity, Leoni AG, Fujikura Ltd., Hengtong Group, ABB Ltd.



Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Medium Voltage Cable market with its value and forecast along with its segments
• Region-wise Medium Voltage Cable market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

By Installation Type:
• Overhead
• Underground
• Submarine

By End-User:
• Power Infrastructure (Energy, Power Transmission and Distribution)
• IT & Telecommunication
• Building & Construction (Commercial and Residential)
• Aerospace & Defence
• Consumer Electronics
• Automotive (Passenger, Commercial and Utility Vehicles)
• Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Medium Voltage Cable industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.