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Medium Voltage Cable Market to Grow at a CAGR of 6.4% from 2016 to 2021 According to New Research

Press Release   •   Jan 20, 2017 04:33 EST

The report "Medium Voltage Cables & Accessories Market” by Overhead (Conductors, Fittings & Fixtures), Underground & Submarine (MI Cables, XLPE Cables, Cable Terminations, Cable Joints), End-User (Infrastructure, Industrial, Renewables), & by Region - Forecast to 2021"projects The medium voltage cables & accessories market is projected to grow at a CAGR of6.4% from the 2016 to 2021 and reach USD 51.24 Billion by 2021 from USD 37.52 Billion in 2016. Increase in renewable energy generation, rapid industrialization & urbanization, and government initiatives undertaken to expand T&D systems would drive the market for medium voltage cables & accessories.

Browse 106 market data Tables and 52 Figures spread through 189 Pages and in-depth TOC on "Medium Voltage Cables & Accessories Market by Overhead (Conductors, Fittings & Fixtures), Underground & Submarine (MI Cables, XLPE Cables, Cable Terminations, Cable Joints), End-User (Infrastructure, Industrial, Renewables), & by Region - Forecast to 2021" http://www.rnrmarketresearch.com/medium-voltage-cable-market-by-overhead-conductors-fittings-fixtures-others-by-underground-submarine-mi-cables-xi-cables-cable-terminations-cable-joints-others-by-end-user-infrastructure-renewables-industrial-and-by-region-gl-market-report.html

Industrial sector to dominate the medium voltage cables & accessories market during the forecast period. Medium voltage cables & accessories have been categorized into three segments (by installation), namely, Industrial, infrastructure, and renewables. The industrial sector held around half of the medium voltage cables & accessories market share in 2015. Growth in construction would eventually increase the number of medium voltage cables & accessories being used in the construction process. This drives the market for medium voltage cables & accessories for the industrial sector.

“Utility sector to dominate the medium voltage cables & accessories market within the Industrial end-user during the forecast period”

The utility sector represents the electrical infrastructure of a country, and includes the generation, transmission, and distribution of electric power. Developed countries are expected to focus their utility investments towards the refurbishment and up gradation of grid infrastructure. The emerging economies, on the other hand, are expected spend their utility investments primarily towards expansion of utility infrastructure. Increasing investments in the utility sector is expected to increase the requirement for equipment used in grid infrastructure, such as power cables, transformers, and insulators. Furthermore, inclusion of progressive technologies, such as co-generation and combined generation in this sector, is further expected to boost the growth of the medium voltage cables & accessories market.

“Wind sector within renewables end-user to hold the major share of the medium voltage cables & accessories market during the forecast period”

Globally, the capacity of wind energy is expected to reach around 792.1 GW by 2020. This capacity is further expected to reach nearly 2,000 GW by 2030, contributing approximately 19% to the global electricity generation. The global investments in wind energy are expected to reach USD 414.85 million by 2030. These investments will lead to the installation of nearly 76,000 grid-connected turbines worldwide by 2030. This is expected to boost the demand for medium voltage cables used to connect the generated wind power to the grid.

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  • The report identifies and addresses key markets for medium voltage cables & accessories, which is useful for suppliers and OEMs to review production and distribution plans
  • The report includes analysis for key countries by installation of medium voltage cables & accessories, namely, industrial, infrastructure, and renewables. It analyzes historical trends and forecasts for 2021, assisting in strategic decision making.

It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from the key global market players. It helps in understanding the competition’s strategies and plan respective initiatives.

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