The global medium voltage cable market was valued at $28.5 billion in 2020, and is projected to reach $49.1 billion by 2030, growing at a CAGR of 5.6% from 2020 to 2030.
A medium voltage cable is an electrical cable, an assembly of one or more electrical conductors, usually held together with an overall sheath. The assembly is used for transmission of electrical power. Medium voltage cables may be installed as permanent wiring within buildings, buried in the ground, run overhead, or exposed. These cables are single or multi-conductor cable rated for 2001 volts up to 35,000 volts. Type MV cables are typically specified as either an MV-90 or an MV-105, with the 90 or 105 designating the maximum conductor temperature in degrees Celsius
Project planning for medium voltage cables requires significant complex discussions and huge capital investments for which it requires authorizations, hence it takes a lot of time. Delays in authorizations for these projects and delays in release of funding restrain the growth of medium voltage cables market to a certain extent. Copper and aluminum are metals that are used as conductors to manufacture cables. Volatility in the cost of these metals being traded in the exchange markets cause their prices to go up or down responding to the market forces. Fluctuations in these metal prices are expected to restrain the market of the medium voltage cables to a certain extent due to uncertainties of the market forces. Increased demand for power has led to an increase in the requirement of medium voltage cables. There is increased reliability on the renewable sources such as solar and wind energies for power generation over coal and significant investments are made in this sector that ensures the attractiveness of this segment. Continuous investments in this sector and the inclination toward renewable sources of power generation are expected to drive the market in the near future.
The medium voltage cable market is segmented on the basis of voltage, product, installation, end-user, and region. By product, the market is categorized into Up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV. On the basis of installation, it is divided into underground, submarine and overhead. On the basis of end-user, it is classified into industrial, commercial, and utility. Region wise, it analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global medium voltage cable market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Brugg Cables, Eland Cables Ltd., Hellenic Cable Industry S.A., Leoni, Nexans, NKT Cables, Prysmian SpA, Southwire, Sumitomo Electric Industries and TPC Wire and Cable Corporation.
A medium voltage cable is an electrical cable, an assembly of one or more electrical conductors, usually held together with an overall sheath. The assembly is used for transmission of electrical power. Medium voltage cables may be installed as permanent wiring within buildings, buried in the ground, run overhead, or exposed. These cables are single or multi-conductor cable rated for 2001 volts up to 35,000 volts. Type MV cables are typically specified as either an MV-90 or an MV-105, with the 90 or 105 designating the maximum conductor temperature in degrees Celsius
Project planning for medium voltage cables requires significant complex discussions and huge capital investments for which it requires authorizations, hence it takes a lot of time. Delays in authorizations for these projects and delays in release of funding restrain the growth of medium voltage cables market to a certain extent. Copper and aluminum are metals that are used as conductors to manufacture cables. Volatility in the cost of these metals being traded in the exchange markets cause their prices to go up or down responding to the market forces. Fluctuations in these metal prices are expected to restrain the market of the medium voltage cables to a certain extent due to uncertainties of the market forces. Increased demand for power has led to an increase in the requirement of medium voltage cables. There is increased reliability on the renewable sources such as solar and wind energies for power generation over coal and significant investments are made in this sector that ensures the attractiveness of this segment. Continuous investments in this sector and the inclination toward renewable sources of power generation are expected to drive the market in the near future.
The medium voltage cable market is segmented on the basis of voltage, product, installation, end-user, and region. By product, the market is categorized into Up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV. On the basis of installation, it is divided into underground, submarine and overhead. On the basis of end-user, it is classified into industrial, commercial, and utility. Region wise, it analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global medium voltage cable market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Brugg Cables, Eland Cables Ltd., Hellenic Cable Industry S.A., Leoni, Nexans, NKT Cables, Prysmian SpA, Southwire, Sumitomo Electric Industries and TPC Wire and Cable Corporation.
KEY MARKET SEGMENTS
By Voltage
- Up to 25kV
- 26kV-50kV
- 51kV-75kV
- 76kV-100kV
By Product
- Termination Cables
- Joints
- XLPE Cables
- Others
By Installation
- Underground
- Submarine
- Overhead
By End User
- Industrial,
- Commercial
- Utility
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
KEY MARKET PLAYERS
- Brugg Cables
- Eland Cables Ltd
- Hellenic Cable Industry SA
- Leoni
- Nexans
- NKT Cables
- Prysmian SpA
- Southwire
- Sumitomo Electric Industries
- TPC Wire and Cable Corporation
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Medium Voltage Cable, by Voltage
Chapter 5: Global Medium Voltage Cable, by Product
Chapter 6: Global Medium Voltage Cable Market, by Installation
Chapter 7: Global Medium Voltage Cable Market, by End-User
Chapter 8: Global Medium Voltage Cable Market, by Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles:
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Medium voltage cable Market by Voltage, Product, Installation, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030,”. The global medium voltage cable market size was valued at $28.5 billion in 2020, and is projected to reach $49.1 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030. Medium voltage cable plays an important role in the daily lives of human beings, as everyone is surrounded by chargeable and electronic gadgets.Rise in demand for mobile & laptops in this decade led to increase in demand for wired chargers, which act as the major driving factor for the market. In addition, surge in demand for electric vehicle boosts the demand for medium voltage cable. Moreover, every country is planning to transform the crude vehicle into electric and this transformation has led to increase in demand for medium voltage cable and may act as the major driving factor for the growth of the market. Furthermore, the governments of every provide subsidies such government of India & Japan want new cars to be electrified to become carbon neutral by 2050, electric vehicles have become more of a necessity for the countries to meet these targets.
The medium voltage cable market is segmented on the basis of voltage, product, installation, end-user, and region. By product, the market is categorized into Up to 25kV, 26kV-50kV, 51kV-75kV, and 76kV-100kV. On the basis of installation, it is divided into underground, submarine, and overhead. On the basis of end-user, it is classified into industrial, commercial, and utility. Region wise, it analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global medium voltage cable market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the medium voltage cable industry report include Brugg Cables, Eland Cables Ltd., Hellenic Cable Industry S.A., Leoni, Nexans, NKT Cables, Prysmian SpA, Southwire, Sumitomo Electric Industries, and TPC Wire and Cable Corporation.
The global medium voltage cable market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2020–2030. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Key Findings Of The Study:
- On the basis of Voltage, the 26KV-50KV segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period
- On the basis of Product, the termination segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period
- On the basis of Installation, the underground segment registered the highest market share and is projected to maintain the same during the forecast period
- On the basis of End-User, the industrial segment registered the highest market share and is projected to maintain the same during the forecast period
- On the basis of region, the APAC emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period
- Sale of medium voltage cable is directly proportional to sale of mobiles, tablets, and other gadgets. Global companies such as Philips, Panasonic, Sony, Canon, Nikon, Casio, Pioneer and others, have a significant share in the manufacturing of mobiles, camera, smartwatches and others The gadget (mobile, tablets, except laptop) industry has been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in sale of mobiles & tablets in 2020, which also led to decline in sale of medium voltage cable
- The spread of the coronavirus had a severe impact on global economy through declines in exports, output, demand from overseas tourists and private use The major exporter of electronic items and decrease in demand for electronics led to decline in demand for medium voltage cable and shows a huge decline in the market
- Electric cars charging system is the major market for medium voltage cable market, however due to the heavy cost of electric cars, the sales of electric car declined in COVID-19 situation, which also led to decline in the sales of medium voltage cable market
- COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to fewer workforces However, there was a sluggish decline in the global medium voltage cable market due to impact of COVID-19
- The electronic industry acquired a significant share in terms of consumption of medium voltage cable Attributed to the outbreak of COVID-19 pandemic, the demand for electronic items such as laptops has increased owing to increase in work from home culture, which in turn has increased the demand for medium voltage cable also
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using medium voltage cable, thereby affecting the global medium voltage cable market
- According to the UNIDO, 30.0%–70.0% of pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors migrated to their hometowns due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in demand for raw materials used in medium voltage cable This is expected to decline the growth of the market during the forecast period
- The automotive production garners a major share in terms of usage of medium voltage cable. The automotive industry has been negatively impacted amid the lockdown imposed due to COVID-19 outbreak and recorded decline in vehicles on road (passenger & commercial) in 2020 This has further declined the medium voltage cable demand owing to disrupted supply chain, which, in turn, hampered the global medium voltage cable market
- After the reopening of lockdown, people are avoiding use of public transport, and a significant share of people purchased their own car to travel, which led to increase in demand for car and car battery terminal wiring that also plays a wide role in medium voltage cable market However, after lockdown it shows positive impact on sales on medium voltage cable
Companies Mentioned
- Brugg Cables
- Eland Cables Ltd.
- Hellenic Cable Industry S.A.
- Leoni
- Nexans
- NKT Cables
- Prysmian SpA
- Southwire
- Sumitomo Electric Industries
- TPC Wire and Cable Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 287 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 28.5 billion |
| Forecasted Market Value ( USD | $ 49.1 billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
