Asia Pacific Medium Voltage Cable Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Installation Type and End-Users

Oil and Gas Segment is Expected to be Fastest Growing During Forecast Period for APAC Region

According to a new market research study on “APAC Medium Voltage Cable Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Installation Type and End-Users,” is expected to reach US$ 7,608.5 million by 2027 from US$ 6,517.4 million in 2019. The market is estimated to grow at a CAGR of 3.19 % from 2020 to 2027. The report provides trends prevailing in the APAC medium voltage cable market along with the drivers and restraints pertaining to the market growth. Establishment of new oil & gas reserves and improvements in the cable technology are the major factor driving the growth of the APAC medium voltage cable market. However, presence of alternatives such as counterfeit cables hinders the growth of APAC medium voltage cable market.

In case of COVID-19, APAC is highly affected specially the India. Various developing economies are situated in the region that has announced lockdowns, ceasing the construction and manufacturing activities. The government of various countries in the APAC took necessary steps to reduce the virus's spread by announcing lockdowns, thus impacting the growth of the medium voltage cable market. The introduction of lockdowns has resulted in the halt of construction projects in the region, which negatively impacted the growth of medium voltage cable in the region. However, after a prolonged lockdown, various countries have started easing the restrictions. For instance, India's government started the unlock phase, in which it allowed the construction activities to resume. However, Australia is still under lockdown. Several cable manufacturing facilities are based in China, which was highly impacted in Q1 2020. The production and demand for medium voltage cables in the country dropped during Q1 2020, followed by recovery in Q2 2020. The country is one of the biggest markets for medium voltage cables in the world. Also, India is one of the significant markets for medium voltage cables. As per Polycab, an Indian cable manufacturing company, no significant impact was witnessed due to the outbreak of the COVID-19 pandemic in India. The company witnessed a slowdown in demand for cables in metropolitan cities, although demand for cables was positive in Tier II and Tier III cities. The company also stated that no noteworthy pickup in the CAPEX cycle in 2020.

The APAC medium voltage cable market is segmented based on installation type, end-users, and country. The installation type segment is further categorized into underground cable and assemblies, overhead cable and accessories, and submarine cables and accessories. The overhead cable and accessories segment dominated the market and is expected to witness the highest growth during the forecast period. The overhead cables are less expensive, easy to deploy, and require less maintenance. Thus, their deployment is high, wherein cost is a major factor for contractors is predominant. Growth of submarine segment is propelled by the rising deployment of submarine cables in off-shore projects across APAC. By end-users, market is segmented into the oil and gas, energy and power, mining, manufacturing, transportation, commercial, and residential. The energy and power segment holds the largest market share in 2019 owing to rising investments in electricity distribution and development of smart grids as well as renewable energy plants. The oil and gas segment is expected to be fastest growing during forecast period.

Alpha Wire; Furukawa Electric Co. Ltd.; General Cable Technologies Corporation; LEONI AG; LS Cable & System Ltd.; Nexans; Sumitomo Electric Industries, Ltd. are among the leading companies in the APAC medium voltage cable market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, LS C&S (President & CEO, Roe-Hyun Myung) announced that the company had developed an optical cable specialized for hacking prevention, and finished preparations for mass-production. By using specialized optical fibers and reinforced coating, this product can prevent illegal leakage and disruption of information.

The report segments the APAC Medium Voltage Cable Market as follows:

APAC Medium Voltage Cable Market - By Installation Type

• Overhead Cables and Accessories
• Underground Cables and Assemblies
• Submarine Cables and Accessories

APAC Medium Voltage Cable Market - By End-Users

• Oil and Gas
• Energy and Power
• Mining
• Manufacturing
• Transportation
• Commercial
• Residential

APAC Medium Voltage Cable Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC medium voltage cable market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the APAC medium voltage cable market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging market.
• Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the medium voltage cable market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution