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Global Medium Voltage Cables Market Size, Share, Forecast: By Installation: Underground, Submarine, Overhead; By Components: Termination Cables, Joints, XLPE Cables, Others; By Voltage: 1 kV - 15 kV, 16 kV - 35 kV, 36 kV – 70 kV; By Application: Industrial, Infrastructure, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Medium Voltage Cables Market Outlook
The global medium voltage cables market attained USD 57.87 billion in 2023. The global medium voltage cables market is expected to grow at a CAGR of 6.0% in the forecast period of 2024-2032 to attain USD 97.63 billion by 2032.
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Rapid Urbanization in Developing Regions to Aid the Market Growth of Medium Voltage Cables
The Asia Pacific is the largest contributor of medium voltage cables, and it is anticipated to be the fastest growing market over the forecast period. Due to lower costs, overhead lines show greater penetration in emerging economies, such as the Asia Pacific, Latin America, and the Middle East and African regions, while underground lines are used more in developed economies like Europe. High urbanization rates in the Asia Pacific and Latin America, and MEA regions is expected to increase the demand for underground lines in these areas as the space for overhead lines gets saturated. The submarine segment is expected to witness more demand in the forecast period, as is already the case with Europe due to their offshore wind capacity. The developing countries are expected to follow this trend due to the rise in offshore wind instalments and the ensuing demand for submarine cables.
Medium Voltage Cables: Market Segmentation
Medium Voltage cables, or MV cables, is the segment of cabling as defined by the International Electrotechnical Commission (IEC) as having a voltage rating of above 1kV up to 100kV. Various end use industries, such as power, oil and gas, mining, chemicals, renewables, and infrastructure sector utilize medium voltage cables. The main metals used in their manufacturing include copper and aluminium. Volatility in the cost of these is a major factor determining the prices of medium voltage cables.
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In terms of installation, the market is segmented into:
- Underground
- Submarine
- Overhead
On the basis of components, the market is divided into:
- Termination Cables
- Joints
- XLPE Cables
- Others
The market is segregated on the basis of voltage into:
- 1 kV - 15 kV
- 16 kV - 35 kV
- 36 kV – 70 kV
By application, the market is divided into:
- Industrial
- Infrastructure
- Renewable Energy
- Others
Industrial application is further divided on the basis of type into oil and gas, metals and mining, chemicals and petrochemicals, cement and manufacturing, and utilities, whereas the infrastructure application is divided into transportation, and commercial and residential.
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Urbanization and Shift towards Renewable Energy to Aid the Market Growth
Increasing urbanization and industrialization across the globe has been the main driver of the market for medium voltage cables. This has been more so in the case of emerging economies, where the demand for power generation, transmission, and distribution has been the major driver of the market of medium voltage cables. The demand in these areas is expected to increase in the forecast period. Innovations in design and newer technologies have positively impacted the market, for example, the introduction of optical fibre and cross-linked polyethylene insulated cables. The rising global shift towards renewable energy sources is expected to drive this market in the forecast period. While the demand for submarine lines has been quite high in Europe due to its extensive offshore wind capacity, developing countries are expected to follow this route in the coming years, thereby driving the market forward.
Key Industry Players in the Global Medium Voltage Cables Market
The report gives a detailed analysis of the following key players in the global medium voltage cables market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Nexans SA
- Prysmian S.p.A.
- NKT A/S
- Sumitomo Electric Industries Ltd
- Ducab Group
- TPC Wire and Cable Corporation
- Hellenic Cables S.A.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Installation |
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| Breakup by Components |
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| Breakup by Voltage |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Medium Voltage Cables Market Analysis
8.1 Key Industry Highlights
8.2 Global Medium Voltage Cables Historical Market (2018-2023)
8.3 Global Medium Voltage Cables Market Forecast (2024-2032)
8.4 Global Medium Voltage Cables Market by Installation
8.4.1 Underground
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Submarine
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Overhead
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Medium Voltage Cables Market by Components
8.5.1 Termination Cables
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Joints
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 XLPE Cables
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Medium Voltage Cables Market by Voltage
8.6.1 1 kV - 15 kV
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 16 kV - 35 kV
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 36 kV – 70 kV
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Medium Voltage Cables Market by Application
8.7.1 Industrial
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.1.3 Breakup by Type
8.7.1.3.1 Oil and Gas
8.7.1.3.2 Metals and Mining
8.7.1.3.3 Chemicals and Petrochemicals
8.7.1.3.4 Cement and Manufacturing
8.7.1.3.5 Utilities
8.7.2 Infrastructure
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.2.3 Breakup by Type
8.7.2.3.1 Transportation
8.7.2.3.2 Commercial and Residential
8.7.3 Renewable Energy
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Medium Voltage Cables Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Medium Voltage Cables Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Medium Voltage Cables Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Medium Voltage Cables Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Medium Voltage Cables Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Medium Voltage Cables Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2013-2021)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2013-2021)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2013-2021)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2013-2021)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
16.1 North America Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.2 Europe Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.3 Asia Pacific Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.4 Latin America Historical Price Trends (2018-2023) & Forecast (2024-2032)
16.5 Middle East & Africa Historical Price Trends (2018-2023) & Forecast (2024-2032)
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Nexans SA
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Prysmian S.p.A.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 NKT A/S
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Sumitomo Electric Industries Ltd
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Ducab Group
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 TPC Wire and Cable Corporation
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Hellenic Cables S.A.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Medium Voltage Cables Market: Key Industry Highlights, 2018 and 2032
2. Global Medium Voltage Cables Historical Market: Breakup by Installation (USD Billion), 2018-2023
3. Global Medium Voltage Cables Market Forecast: Breakup by Installation (USD Billion), 2024-2032
4. Global Medium Voltage Cables Historical Market: Breakup by Components (USD Billion), 2018-2023
5. Global Medium Voltage Cables Market Forecast: Breakup by Components (USD Billion), 2024-2032
6. Global Medium Voltage Cables Historical Market: Breakup by Voltage (USD Billion), 2018-2023
7. Global Medium Voltage Cables Market Forecast: Breakup by Voltage (USD Billion), 2024-2032
8. Global Medium Voltage Cables Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Medium Voltage Cables Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Medium Voltage Cables Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Medium Voltage Cables Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Medium Voltage Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Medium Voltage Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Medium Voltage Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Medium Voltage Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Medium Voltage Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Medium Voltage Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Medium Voltage Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Medium Voltage Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Medium Voltage Cables Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Medium Voltage Cables Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Medium Voltage Cables Market Structure
Key Questions Answered in the Report
In 2023, the global medium voltage cables market attained a value of nearly USD 57.87 billion.
The market is projected to grow at a CAGR of 6% between 2024 and 2032.
The major market drivers include rapid industrialisation, the low costs of medium voltage cables, and the rising usage of medium volatage cables in developing countries.
The key trends guiding the market growth are rapid urbanisation, the shift towards renewable energy, and innovations in design and the introduction of new technologies.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major segments based on installation of the product considered in the market report are underground, submarine, and overhead.
The various components of medium voltage cables are termination cables, joints, and XLPE cables, among others.
The significant segments based on voltage considered in the market report are 1 kV - 15 kV, 16 kV - 35 kV, and 36 kV - 70 kV.
The major applications of the product are industrial, infrastructure, and renewable energy, among others.
The major players in the market are Nexans SA, Prysmian S.p.A., NKT A/S, Sumitomo Electric Industries Ltd, Ducab Group, TPC Wire and Cable Corporation, and Hellenic Cables S.A., among others.
Analyst Review
The global medium voltage cables market attained a value of nearly USD 57.87 billion in 2023, driven by the shift towards renewable energy. Aided by rising industrialisation and innovations in design and newer technologies, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 6%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. In terms of installation, the market is segmented into underground, submarine and overhead. On the basis of components, the market is divided into termination cables, joints, and XLPE cables, among others. The market is segregated on the basis of voltage into 1 kV - 15 kV, 16 kV - 35 kV, and 36 kV – 70 kV. The major applications include industrial, infrastructure, and renewable energy, among others. Industrial application is further divided into oil and gas, metals and mining, chemicals and petrochemicals, cement and manufacturing, and utilities, whereas the infrastructure application is divided into transportation, commercial and residential. The major regional markets for medium voltage cables are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are Nexans SA, Prysmian S.p.A., NKT A/S, Sumitomo Electric Industries Ltd, Ducab Group, TPC Wire and Cable Corporation, and Hellenic Cables S.A., among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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