In a recent published report, Kenneth Research has updated the market report for Medium Voltage Cables Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medium Voltage Cables Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Medium Voltage Cables Market is estimated to reach $66 Billion by 2025; growing at a CAGR of 6.3% from 2017 to 2025. Medium voltage cables, or MV cables are frequently used in mobile substations or for power distribution. They have a voltage range of 2kV to 35kV and are used in industrial plant environments for power distribution, and in the mining industry for supplying power to drills, shovels, haulers, and other machineries. The medium voltage cable designs contain a conductor shield and insulation shield, which protects them from getting damaged. They are easy to install, provide insulation to power systems, and are moisture, heat, and ozone resistant. The concept of medium voltage was only introduced as the level of voltages increased and the need arose for a greater classification range, which now often includes extra low and extra high voltage. Medium voltage cables are extensively used in numerous end-use industries such as power, mining, oil & gas, renewables, chemicals, and infrastructure sector.
Growing demand for electricity due to rapid urbanization & industrialization, and rising need for renewable energy generation are the major factors boosting the growth of the global medium cables market. However, the market consists of certain constraints such as lack of skilled professionals for handling, maintaining and exchange of medium voltage cables, and fluctuating material costs. Moreover, new innovations and technological advancements in order to reduce cost production for medium voltage cables, and implementation of smart grid technology is expected to open up new growth opportunities over the years to come.
Installation, end-user, and geography are the segmentations considered in the global medium voltage cables market. The installation segment comprises underground, submarine, and overhead. Furthermore, industrial (oil & gas, metals and mining, chemicals and petroleum, cement and manufacturing, utilities, and others), renewable sector (wind and solar), and infrastructure (transportation, and commercial) are covered under the end-user segment.
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Based on geography, the global medium voltage cables market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexica, whereas Europe consists of UK, Germany, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Key players profiled in the market include General Cable Corporation, Prysmian SpA, ABB Ltd., Nexans, Sumitomo Electric Industries Ltd., NKT Cables, Siemens AG, General Electric Company, Brugg Cables, and Dubai Cable Company Private Limited, among others.
The key takeaways from the report
The report will provide detailed analysis of Global Medium Voltage Cables Market with respect to major segments such as installation, end-user, and geography
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Medium Voltage Cables Market has been included in the report
Profile of the key players in the Global Medium Voltage Cables Market will be provided, which include key financials, product & services, new developments and business strategies
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Scope of the Global Medium Voltage Cables Market
Installation Segments
Underground
Submarine
Overhead
End-User Segments
Industrial
Oil & Gas
Metals and Mining
Chemicals and Petroleum
Cement and Manufacturing
Utilities
Others
Renewable Sector (Wind and Solar)
Infrastructure (Transportation and Commercial)
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
Table of Contents
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
2.1 Global Medium Voltage Cables Market Year-on-Year Growth, 2017 – 2025 (%)
Chapter 3 Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company’s Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers
3.3.1.1 Impact Analysis
3.3.2 Restraints
3.3.2.1 Impact Analysis
3.3.3 Opportunities
Chapter 4 Global Medium Voltage Cables Market by Installation: Market Size and Forecast, 2016 – 2025
4.1 Overview
4.2 Underground
4.2.1 Current Trend and Analysis
4.2.2 Market Size and Forecast, 2016 – 2025 ($ Billion)
4.2.3 Market Size and Forecast by Region, 2016 – 2025 ($ Billion)
4.3 Submarine
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