A new Report by Delvens, titled "Medium-Voltage Cables Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global Medium-Voltage Cables Market size is projected to reach a CAGR of 5.6% from 2023-2030.
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Medium Voltage cable, or MV cable, is a category defined by the International Electrotechnical Commission (IEC) as having a voltage rating of above 1kV up to 100kV. Medium Voltage Cable is a power cable most often used in commercial, industrial, and electrical utility industries. The standard voltage rating for MV (medium voltage) cable falls between 5 kV and 35 kV; however, this range can vary for different manufacturers and standards.
Medium Voltage cables are mostly used for power supply in inclement weather, primary power supply from mobile substations in a natural disaster or unpredictable power outages, power supply for the construction of substations, power distribution to isolated areas applications ranging from 5kv up to 35kv that are used in substations, transformers, and medium voltage generator sets.
Delvens Industry Expert's Standpoint
The market for medium-voltage cables is a vibrant and expanding sector of the economy that is essential to the transmission and distribution of power. The market is influenced by things like rising electricity consumption, the switch to renewable energy sources, and ongoing investments in infrastructure for power transmission and distribution. Additionally, the market is extremely competitive, with competitors vying for customers based on innovation, quality, and price.
Regional Analysis
Asia Pacific to Dominate the Market
Asia-Pacific has emerged as one of the major medium-voltage cable markets in recent years. The rise in energy demand associated with urbanization, economic modernization, and better living standards across the region has resulted in the growth of sustainable power systems, which in turn, increased the demand for the medium voltage cable market in this region.
Many countries in Asia-Pacific have inadequate transmission and distribution (TD) networks, and hence, electricity is not available in some remote and rural areas. To bring electricity to these areas, the countries in the region are investing majorly in building a transmission line network.
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Companies Profiled:
Brugg Cables, Eland Cables Ltd., Hellenic Cable Industry S.A., Leoni, Nexans, NKT Cables, Prysmian SpA, Southwire, Sumitomo Electric Industries, and TPC Wire Cable Corporation, Siemens AG, Riyadh Cables Group, The Okonite Company, General Cables Corporation and More
Recent Developments:
- In October 2021, Ravin Group was awarded a contract to provide specialized fire survival cables for the Indian Railways’ Udhampur-Srinagar-Baramulla Rail Link. Under the agreement, the Ravin Group will provide 33 kV and 11 kV medium voltage specialized fire survival cables. Low voltage cables and control cables to the longest tunnel (T13), approximately 9.3 km, are located in the Katra-Dharam section.
- In November 2021, Taihan Cable Solution, a maker of electric wires and steel products for electricity and communication, clinched a USD 60 billion deal to supply medium voltage cables in California. The contract calls for the provision of the wires over the next three years until October 2024.
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Reasons to Acquire
- Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors.
- Gain authentic and granular data access for Medium-Voltage Cables Market so as to understand the trends and the factors involved behind changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
In addition to the market data for Medium-Voltage Cables Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirements.
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