Acording to the latest report by IMARC Group, titled “Medium Voltage Cables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global medium voltage cables market trends.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global medium voltage cables market size reached US$ 55.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 76.3 Billion on by 2028, exhibiting a growth rate (CAGR) of 5.34% during 2023-2028.
Medium voltage cables refer to power cables comprising three layers, including the conductor, insulation screen, and insulation material. They are flexible as well as durable and offer protection against abrasion, tearing and wearing, environmental impacts, etc. Medium voltage cables are safer and cost-effective as they are laid underground with less operation and maintenance costs. These cables provide a reliable power source during unpredictable power outage situations by successfully distributing power to isolated areas. They are easy to install and enhance resistance to pulling, twisting, tension, etc. Consequently, medium voltage cables find wide-ranging applications in several sectors, such as oil and gas, chemical, electrical, etc., across the globe.
what are the key factors driving in the medium voltage cables market?
The escalating demand for efficient power generation, transmission, and distribution, owing to the increasing levels of industrialization, is primarily driving the medium voltage cables market. Furthermore, the inflating need for renewable energy sources to reduce greenhouse gas emissions is catalyzing the market growth. Besides this, the widespread adoption of medium voltage cables in the mining industry to supply power to drills, shovels, haulers, etc., and the growing focus of the leading manufacturers on various marketing strategies to expand the consumer base are acting as significant growth-inducing factors.
Moreover, the rising utilization of underground cables, on account of the lesser number of annual faults as compared to overhead wires, is positively influencing the global market. Apart from this, extensive investments in RD activities to introduce high-performance insulating system technology (HPTE) are expected to fuel the medium voltage cables market in the coming years.
Request For Sample Report: https://www.imarcgroup.com/medium-voltage-cables-market/requestsample
Report Segmentation:
The report has been segmented the market into following categories:
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
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
Ask An Analyst: https://www.imarcgroup.com/request?type=report&id=6175&flag=C
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: [email protected]
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 |
Africa and Europe :- +44-702-409-7331 |
Asia: +91-120-433-0800, +91-120-433-0800