The global medium voltage cables & accessories market was valued at USD 39.31 Billion in 2016 and is projected to grow at a CAGR of 6.27%, from 2017 to 2022. Increase in renewable energy generation and rapid industrialization and urbanization are the major drivers for growth in the medium voltage cables & accessories market.
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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Objectives of the Study
- To define, describe, and forecast the global medium voltage cables & accessories market by product, installation, voltage, end-user, and region
- To provide detailed information on the major factors influencing the growth of the medium voltage cables and accessories market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the medium voltage cables and accessories market with respect to individual growth trends, prospects, and contribution of each segment to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
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Asia-Pacific is currently the largest market for medium voltage cables & accessories as majority of urbanization activities are concentrated in countries such as China, India, and Japan. In China, the infrastructure development remains the top priority, due to increasing opportunities in railways and water infrastructure. In the next 5 years, countries such as China, South Korea, and India would become potential markets for medium voltage cables & accessories systems. China, which is 100% electrified, plans to upgrade its rural distribution grid from 2016 to 2020.
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