Medium Voltage Power Cable Market was valued at USD 20.5 Billion in 2022 and is projected to reach USD 30.9 Billion by 2030, growing at a CAGR of 6.3% from 2024 to 2030.
The medium voltage power cable market from 2018 to 2022 experienced steady growth due to increasing infrastructure projects and rising demand for electricity worldwide. During this period, key sectors such as energy, construction, and industrial applications contributed significantly to the growth. The market was influenced by factors such as urbanization, the expansion of smart grids, and the growing need for renewable energy integration into existing power networks. The market was expected to see higher demand for power cables with increased insulation and robust construction to handle the rising energy needs, especially in emerging economies. During this phase, demand for cables ranged from 6 kV to 36 kV, as industries sought higher efficiency, safety, and reliable power transmission solutions.
However, from 2023 to 2033, the medium voltage power cable market is projected to experience accelerated growth, driven by various global trends. The increasing electrification of transportation, the expansion of renewable energy sources such as wind and solar, and government mandates to reduce carbon emissions will be key drivers. The demand for energy-efficient cables is expected to soar, and cables made from environmentally friendly materials will become more popular due to sustainability initiatives. The market will also see an increase in infrastructure development, particularly in rural and underdeveloped regions, where the need for electricity access is rapidly growing. In addition, advancements in cable technology, such as the development of superconductor cables, will drive innovation and demand, allowing the market to expand further.
As power generation shifts towards decentralization, medium voltage cables will play a pivotal role in integrating renewable sources into the grid. This trend will necessitate the development of cables that can support higher voltage levels, as more regions opt for distributed power generation. Furthermore, with more electric vehicles hitting the roads, there will be an increased need for high-quality power cables to support electric vehicle charging infrastructure.
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General Cable
Prysmian Group
Leoni
Sumitomo Electric
Nexans
LS Cable Group
Caledonian
Ducab
Kapis Group
NKT
Southwire
Hengtong Cable
Jiangnan Group
Zhongchao
Wanma Group
Sun Cable
Orient Cable
Hangzhou Cable
NAN
Wanda Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Medium Voltage Power Cable Market
Overhead Type
Underground Type
Submarine Type
Industry Type
Based on Types the Market is categorized into Below types that held the largest Medium Voltage Power Cable market share In 2023.
Copper
Aluminum
Aluminum alloy
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Medium Voltage Power Cable Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Medium Voltage Power Cable Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Medium Voltage Power Cable Market, By Type
6. Global Medium Voltage Power Cable Market, By Application
7. Global Medium Voltage Power Cable Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Medium Voltage Power Cable Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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