Global Medium Voltage Cables Market Report 2023: Sector is Expected to Reach $76.3 Billion by 2028 at a CAGR of 5.61% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Medium Voltage Cables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global medium voltage cables market size reached US$ 55.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 76.3 Billion by 2028, exhibiting a CAGR of 5.61% during 2022-2028.

Companies Mentioned

• ABB Ltd
• Brugg Cables (Shanghai) Co. Ltd.
• Eland Cables
• Hellenic Cables S.A.
• LS Cable & System (LS Group)
• Nexans S.A.
• NKT A/S
• Prysmian S.p.A.
• Riyadh Cables
• Southwire Company LLC
• Sumitomo Electric Industries Ltd.
• Synergy Cables
• TPC Wire & Cable.

Medium voltage cables are power cables comprising three layers, such as conductor and insulation screen, and insulation material. They are highly flexible and durable and offer protection against abrasion, tearing and wearing, and environmental impacts. They are safer and cost-effective as medium voltage cables are laid underground with less operation and maintenance costs.

In addition, they provide a reliable power source during unpredictable power outage situations by efficiently distributing power to isolated areas. Apart from this, they are easy to install, offer a long shelf-life, and improve resistance to pulling, twisting, and tension. As a result, they find extensive applications in oil and gas, mining, chemical, and electrical industries across the globe.

Due to rapid industrialization and urbanization, there is a rise in the demand for efficient power generation, transmission, and distribution across the globe. This, along with various innovations in the design of medium voltage cables, represents one of the key factors driving the market.

Besides this, key market players are extensively investing in research and development (R&D) activities to introduce high-performance insulating system technology (HPTE) for replacing medium voltage cross-linked polyethylene (XLPE) insulated cables. They are also focusing on various marketing strategies to expand their customer base, which is contributing to the growth of the market. In addition, the growing demand for renewable energy sources to reduce greenhouse gas emissions and air pollution is positively influencing the market.

Moreover, the increasing demand for underground cables on account of the lesser number of annual faults compared to overhead cables is offering lucrative growth opportunities to industry investors. Apart from this, the rising utilization of medium voltage cables in the mining industry to supply power to drills, shovels, and haulers is bolstering the growth of the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global medium voltage cables market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on voltage, product, installation and end user.

Breakup by Voltage:

• Up to 25kV
• 26kV-50kV
• 51kV-75kV
• 76kV-100kV

Breakup by Product:

• Termination Cables
• Joints
• XLPE Cables
• Others

Breakup by Installation:

• Underground
• Submarine
• Overhead

Breakup by End User:

• Industrial
• Commercial
• Utility

Key Questions Answered in This Report

1. What was the size of the global medium voltage cables market in 2022?

2. What is the expected growth rate of the global medium voltage cables market during 2023-2028?

3. What are the key factors driving the global medium voltage cables market?

4. What has been the impact of COVID-19 on the global medium voltage cables market?

5. What is the breakup of the global medium voltage cables market based on the voltage?

6. What is the breakup of the global medium voltage cables market based on the product?

7. What is the breakup of the global medium voltage cables market based on the installation?

8. What is the breakup of the global medium voltage cables market based on the end user?

9. What are the key regions in the global medium voltage cables market?

10. Who are the key players/companies in the global medium voltage cables market?

For more information about this report visit https://www.researchandmarkets.com/r/utajxc

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