Medium Voltage Cable & Accessories Market Revenue to Hit $56.2 billion by 2022 | Leading key players: Nexans, General Cable Corporation, Prysmian, NKT Group, LS Cable & System

The report "Medium Voltage Cable & Accessories Market by Installation (Overhead, Underground, and Submarine), Product (MI, XLPE Cables, Terminations, and Joints), Voltage Range (1–5, 6–13, 23, 34, 45, 69 kV), End-User (Industrial, Infrastructure, and Renewables), and Region - Forecast to 2022", The global medium voltage cable & accessories market is projected to reach USD 56.2 billion by 2022 from an estimated USD 41.5 billion in 2017, at a CAGR of 6.3% from 2017 to 2022. This growth can be attributed to the changing trends in the energy sector vis-à-vis increasing renewable energy-based power generation, investment plans for expansion of T&D networks in developing economies, revamp of the existing aging infrastructure, growing global power generation capacity, and increasing demand for smart grid technology. Additionally, the rapidly growing infrastructure industry in the emerging regions; and the rapid pace of industrialization and urbanization are anticipated to drive market growth.

Browse 132 market data Tables and 37 Figures spread through 222 Pages and in-depth TOC on "Medium Voltage Cable & Accessories Market - Forecast to 2022"

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The underground installation medium voltage cable & accessories market is estimated to exceed USD 40 billion by 2022

The underground installation segment was the largest medium voltage cable and accessories market in 2016 and is anticipated to continue the momentum during the forecast period. Underground cables are safer and have longer lift than overhead cables. Underground cables are capable of absorbing emergency power loads and have better power loss characteristics. These cables have the advantage of being installed in populated areas where the land is unavailable. Rapid industrialization is one of the major factors driving this market. Some of the benefits of installing power cables underground include low transmission losses, absorption of emergency power loads, low maintenance costs, and less susceptibility to the impact of severe weather.

The 6–13 kV voltage range segment is projected to lead the market during the forecast period

The 6–13 kV segment is estimated to dominate the market until 2022. The growth of this segment can be attributed to its extensive use in the utilities sector. This voltage range is used usually in indoor and outdoor static installation and the renewable energy sector. Growth of the renewables sector is expected to drive the growth of the segment over the forecast period.

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Asia Pacific is estimated to be the largest and the fastest-growing medium voltage cable & accessories market until 2022

Asia Pacific led the medium voltage cable & accessories market in 2016. It is predicted to be the largest and the fastest-growing market till 2022. Europe is projected to be the second-largest market by 2022. The primary reasons for the growth of both these markets include the government initiatives for the improvement of T&D systems, an increase in power demand, and favorable renewable energy policies in the key countries of this market.

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Key Market Players

General Cable Corporation (US), Nexans S.A. (France), NKT Group A/S (Denmark), Prysmian S.p.A. (Italy), Sumitomo Electric Industries, Ltd. (Japan), Southwire Company, LLC (US), Kabelwerke Brugg AG Holding (Switzerland), EL Sewedy Electric Company (Egypt), Leoni AG (Germany), ABB Ltd. (Switzerland), The Okonite Company (US), Dubai Cable Company (Private) Ltd. (UAE), TPC Wire & Cable Corp. (US), Bahra Advanced Cable Manufacture Co. Ltd. (Saudi Arabia), Hendrix Wire and Cable (US), KABELWERK EUPEN AG (Belgium), Tratos (UK), Cablel Hellenic Cables Group (Greece), Caledonian Cables Ltd (UK), KEI Industries Limited (India), LS Cable & System Ltd. (South Korea), Riyadh Cables Group Company (Saudi Arabia), Top Cable (Spain), Hebei New Baofeng Wire & Cable Co., Ltd. (China), and Tele-Fonika Cable Americas Corporation (US).

Nexans S.A. (France) is a global provider of cable products and services. The company mainly focuses on four segments, namely, electricity transmission and distribution (submarine networks and land-based networks), energy resources (oil & gas and mining and renewables), transport (rail, road, air, and sea), building (community facilities, housing, and datacenters). It operates sales offices in 40 countries including Australia, Belgium, Brazil, India, Russia, the Netherlands, and the UK. In October 2016, the company launched EDRMAX to enable grid connection and installation of renewable energy resources such as solar panels and wind turbines which would drive the medium voltage cables and accessories market.

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