“The medium voltage cables and accessories market is projected to grow at a CAGR of 6.27%, from 2017 to 2022.”
The medium voltage cables and accessories market is expected to reach USD 56.18 billion by 2022, from an estimated USD 41.45 billion in 2017, 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 medium voltage cables and accessories market.
“The underground segment of the installment market is expected to grow at the highest CAGR, from 2017 to 2022.”
On the basis of installation, the medium voltage cables and accessories market has been segmented into underground, overhead, and renewables. The underground cables segment is expected to hold the largest market share of the medium voltage cables and accessories market during the forecast period. Underground cables are mainly used to transmit power to populated areas. Low transmission losses, absorption of emergency power loads, low maintenance costs, and less susceptibility to weather are some of the benefits of using underground cables.
“Asia Pacific: The largest market for medium voltage cables and accessories in 2016”
The market in Asia Pacific is currently the largest for medium voltage cables and accessories followed by the European market. Increase in renewable power generation is a major factor driving the medium voltage cables and accessories market in Asia Pacific.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
By Designation: C-Level- 35%, D-Level- 25%, and Others- 40%
By Region: Asia Pacific- 35%, Middle East & Africa-25%, North America- 15%, Europe- 15%, and Latin America-10%
Note: Others includes product managers, marketing managers, and sales managers.
The tier of the companies has been defined on the basis of their total revenue, as of 2016: Tier 1 = > USD 5 billion, Tier 2 = From USD 1 billion to USD 5 billion, and Tier 3 = < USD 1 billion
The leading players in the medium voltage cables and accessories market 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 report defines, describes, and forecasts the global medium voltage cables and accessories market by voltage, product, installation, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the medium voltage cables and accessories market.
Why buy this report?
1. The report identifies and addresses key markets for medium voltage cables and accessories, which would help manufacturers review the growth in demand.
2. The report helps systems providers understand the pulse of the market and provide insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.