According to the latest report published by Variant Market Research, the global medium voltage cables market size is projected to reach $66 billion by 2025 from $40 billion in 2016. In this report, medium voltage cables market forecast says that the global market is growing at 6.3% CAGR from 2017 to 2025. Asia-Pacific is expected to grow at a CAGR of 7.0% and Rest of the World at 6.6%, during the forecast period
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Growing demand for electricity owing to rapid urbanization & industrialization fuels, the global medium voltage cables market
Rising electricity demand worldwide, and necessity of increasing power generation and expanding wind sector are the global medium voltage cables market trends. Though, lack of skilled professionals for handling, and fluctuating material costs are the constraint for the global medium voltage cables market growth.
The segmentations considered in the global medium voltage cables market are installation, end-user, and geography. By installation, the market is bifurcated into underground, submarine, and overhead. Moreover, end user segment comprises 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)
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Key players profiled in the report include Sumitomo Electric Industries Ltd., General Cable Technologies Corporation, NKT Cables, General Electric Company, Prysmian SpA, Brugg Cables, Nexans, Siemens AG, and ABB Ltd., Dubai Cable Company Private Limited, among others.
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