Medium Voltage Cables & Accessories Market by New Trends Technology Advancement 2018 to 2022
Posted: Mar 15, 2019
The global medium voltage cables and accessories market is projected to grow at a CAGR of 6.27%, from 2017 to 2022, to reach a market size of USD 56.18 billion by 2022. Increase in renewable energy generation and rapid industrialization and urbanization would drive the market.
The medium voltage cables and accessories market has been segmented, by installation, into overhead, underground, and submarine. The underground segment is estimated to grow at the highest CAGR during the forecast period. These types of cables have one or three core conductors covered with suitable insulation and protection and can be used in several applications in the oil & gas industry.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the medium voltage cables and accessories market. These include Prysmian S.p.A. (Italy), Nexans S.A. (France), General Cable Corporation (US), NKT Group A/S (Denmark), and LS Cable & System Ltd. (South Korea). The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
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On the basis of installation segment, underground medium voltage cables & accessories is expected to dominate the global market. In this segment types of products, namely, XLPE cables, MI cables, joints, and terminations. Within these product segmentation, XLPE cables are expected to dominate the market by the projected year.
Medium voltage cables & accessories are a vital part of any electricity generation system. They provide adequate amount of efficiency and reduce energy losses while T&D process. The medium voltage cables & accessories market is dominated by a few major players, given their market presence across regions and brand recognition. These players are receiving contracts, launching new products, and adopting organic as well as inorganic strategies in order to sustain in the competitive environment. With the growth of the infrastructure sector, the demand for medium voltage cables & accessories is growing.
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This study estimates the global market for medium voltage cables and accessories, in terms of USD, till 2022. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the medium voltage cables and accessories market.
The medium voltage cables and accessories market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. Investments in power infrastructure in countries such as Japan, China, India, and Australia would drive the growth of the medium voltage cables and accessories market in the region during the forecast period.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues