Medium Voltage Cables and Accessories Market Worth 56.18 Billion USD by 2022
PUNE, India, September 22, 2017 /PRNewswire/ --
The report "Medium Voltage Cables & Accessories Market by Installation (Overhead, Underground, Submarine), Products (MI, XLPE Cables, Terminations, Joints), Voltage (1-5, 6-13, 23, 34, 45, 69kV), End-User (Industrial, Infrastructure, Renewables) - Forecast to 2022", published by MarketsandMarkets(TM), the market is expected to grow from an estimated USD 41.45 Billion in 2017 to USD 56.18 Billion by 2022, at a CAGR of 6.27%, from 2017 to 2022. Increase in renewable energy generation and rapid industrialization and urbanization is expected to drive the market for medium voltage cables and accessories.
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Browse 132 Market Data Tables and 36 Figures spread through 201 Pages and in-depth TOC on "Medium Voltage Cables & Accessories Market" http://www.marketsandmarkets.com/Market-Reports/medium-voltage-cable-market-15193142.html [http://www.marketsandmarkets.com/Market-Reports/medium-voltage-cable-market-15193142.html?utm_source=PRnewswires&utm_medium=Referral&utm_campaign=PRnewswire ]
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The underground medium voltage cables and accessories segment of the installation market is expected to hold the largest share during the forecast period.
On the basis of installation, the Medium Voltage Cables & Accessories Market has been segmented into underground, overhead, and renewables. The underground sector accounted for the largest market share. Several benefits of using underground cables are lower transmission loss and maintenance costs, they release no electric fields, and can easily absorb power loads; these factors are expected to drive the Medium Voltage Cables & Accessories Market. Thus, the underground segment of the Medium Voltage Cables & Accessories Market is expected to grow at the highest CAGR during the forecast period.
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The industrial segment is expected to lead the Medium Voltage Cables & Accessories Market during the forecast period.
On the basis of end-user, the Medium Voltage Cables & Accessories Market has been categorized into three segments, namely, industrial, infrastructure, and renewables. The industrial segment is expected to account for half of the Medium Voltage Cables & Accessories Market in 2017. The industrial segment includes utilities, oil & gas, mining and metals, chemicals and petrochemicals, cement and manufacturing, and other industries. Investments in power transmission and distribution would drive the industrial segment of the Medium Voltage Cables & Accessories Market.
Asia Pacific: The leading market for medium voltage cables and accessories
In this report, the Medium Voltage Cables & Accessories Market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. The market in Asia Pacific led the global Medium Voltage Cables & Accessories Market in 2016. Rapid development and rising investments in the region would drive the demand for medium voltage cables and accessories. This would lead to increased power transmission and distribution as well as the replacement of mature power transmission infrastructure. Investments in smart grid technology in countries such as China, India, Japan, Australia, and those in the rest of Asia Pacific would create opportunities for the Medium Voltage Cables & Accessories Market.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Medium Voltage Cables & Accessories Market. These include Prysmian S.p.A. (Italy), Nexans S.A. (France), General Cable Corporation (US) , NKT Group A/S (Denmark), and LS Cable & System Ltd. (South Korea). The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
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