: Surges as Industrialization, Urbanization, and Renewable Energy Drive Demand – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Medium-voltage Cable Market Outlook, 2028” report has been added to ResearchAndMarkets.com’s offering.
The market is expected to reach USD more than 61 Billion by 2028 with a significant CAGR of 7.10 % from USD 40.80 Billion in 2022.
The global market for medium-voltage cables is experiencing significant expansion, driven by the rapid pace of industrialization and urbanization worldwide. Developing nations, in particular, have witnessed accelerated industrial and urban growth, leading to heightened demands for power generation, transmission, and distribution. This surge in energy requirements is expected to drive the need for medium-voltage cables, fueling market expansion.
Additionally, there is a growing global inclination towards renewable energy sources, driven by concerns about climate change and the desire for cleaner air. Governments worldwide are actively investing in electrical infrastructure, implementing wise policy choices, and promoting renewable energy generation technologies to enhance their capacity for clean energy production.
As governments respond to environmental challenges and prioritize the reduction of carbon emissions and pollution, the demand for medium-voltage cables is further propelled. From small residential buildings to large industrial complexes, the reliable transportation of electricity relies on various cable assemblies, with medium-voltage cables playing a crucial role in distribution networks.
These cables, composed of materials such as copper and aluminum, ensure efficient and safe power distribution across various industry verticals. The increasing energy consumption across both developed and developing nations has spurred economic growth, making the global medium-voltage cable market a vital component of the energy ecosystem.
The Asia Pacific region contributes the most medium voltage cables and is expected to be the fastest expanding market throughout the forecast period. Significant industrialization has occurred in the region, with countries such as China, India, and Southeast Asian states seeing tremendous economic expansion.
This industrialization results in the construction of manufacturing plants, commercial buildings, and infrastructure projects, all of which necessitate the use of medium-voltage cables for electricity transmission. Many Asian countries have been aggressively investing in renewable energy sources such as solar, wind, and hydropower.
These clean energy initiatives necessitate the use of medium voltage cables to connect renewable energy generation sites to the grid or distribution networks. Transportation systems, such as railways, metros, and high-speed rail networks, have expanded and modernised significantly across the Asia-Pacific area.
These projects will necessitate the use of medium voltage cables to power transportation infrastructure such as train stations, signalling systems, and electrified tracks. Smart grid technology usage is gaining traction i- the Asia-Pacific area. To support communication, data transfer, and power distribution inside the grid infrastructure, smart grids require improved medium-voltage cables.
Competitive Landscape
- Competitive Dashboard
- Business Strategies Adopted by Key Players
- Key Players Market Share Insights and Analysis, 2022
- Key Players Market Positioning Matrix
- Porter’s Five Forces
Company Profile
- 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.
- Sumitomo Electric Industries, Ltd.
- TPC Wire & Cable Corp.
- KEI Industries Ltd.
- Tele-Fonika Kable Spolka Akcyjna
- LS Cable & System Ltd.
- NKT A/S
- Riyadh Cables Group
- Southwire Company, LLC
- Polycab India Limited
- Caledonian Cables 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 (United States, Canada, Mexico)
- Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
- Asia-Pacific (China, Japan, India, Australia, South Korea)
- South America (Brazil, Argentina, Colombia)
- Middle East & Africa (UAE, Saudi Arabia, South 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.)
For more information about this report visit https://www.researchandmarkets.com/r/ii619e
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