Medium Voltage Cable Market – Growth, Trends, And Forecast (2021 – 2025)
The Medium Voltage Cable Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global medium voltage market is expected to grow at a CAGR of over 3.5% during the forecast period.
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Top Leading Companies of Global Medium Voltage Cable Market are Eland Cables Ltd., Nexans SA, Prysmian SpA, NKT A/S, and Cablel Hellenic Cables Group, and others.
Key Market Trends
Underground Segment to be the Fastest Growing Market
– Deployment of underground cables instead of overhead ones has been one of the trends in regions, like Europe and North America, in recent times. In urban areas, underground cables are more favored, as above-ground space is not available.
– Underground cables are also more reliable due to the lesser number of annual faults, compared to overhead ones. Despite the higher expenses in underground cables, utilities are now investing more in underground cables, and are encouraged by regulators in developing regions such as Asia-Pacific and Africa.
– In recent years, across Europe, specifically Germany and Netherlands, there is an increasing trend to replace the existing overhead distribution lines with underground cabling and give preference to underground cabling for new projects. Moreover, India is also witnessing the increasing adoption of underground cables. Among the 100 smart city projects of the country, several projects include underground cables.
– Vietnam is also replacing the power cables from overhead to underground in two of its major cities, HCMC and Hanoi. Besides deploying underground cables in major roads, the exercise has also been extended to passages within the cities. The overhead cable replacements are expected to take place between 2020 and 2025, in turn, driving the market for underground cables.
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 (T&D) network and hence, electricity is not available in some of the remote and rural areas. To bring electricity to these areas, the countries in the region are investing heavily in building a transmission line network.
– In India, residential building construction is expected to witness significant growth in the near future, supported by the government’s housing for all plan and the Pradhan Mantri Awas Yojana (PMAY), slated to be completed by 2020. Under PMAY, the government is expected to build 60 million houses (40 million in rural areas and 20 million in cities) by 2022.
– Moreover, the power transmission and distribution grid of China has been experiencing major up gradations and modifications for making it capable to transmit higher electricity and cope up the future demand.
– Therefore, based on the factors like expansions and upgradations, especially in Asia-Pacific region, is expected to have a positive impact on medium voltage cables market.
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Highlights of the Medium Voltage Cable Market Report:
– Detailed overview of Medium Voltage Cable Market
– Changing the Medium Voltage Cable market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Medium Voltage Cable market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Medium Voltage Cable Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Medium Voltage Cable Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Medium Voltage Cable industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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