PUNE, India, September 14, 2015 /PRNewswire/ --
The report " 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 - Global Forecast to 2020" defines and segments the global Medium Voltage Cable Market with an analysis and forecast of the market size. The Medium Voltage Cable Market is expected to grow from an estimated USD 35.2 Billion in 2015 to USD 48.8 Billion by 2020, at a CAGR of 6.8%.
Browse 114 Tables and 63 Figures spread through 200 Pages and in-depth TOC on "Medium Voltage Cable Market"
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Increasing renewable energy production and growing demand of power has driven the demand for medium voltage cable around the world. Medium voltage cables/lines can be installed overhead, underground as well as underwater. Related cable accessories required for overhead lines are different from that required for underground and submarine lines. Cable joints and terminations are the major accessories being used in underground and submarine cable systems.
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Global Medium Voltage Cable Market growth is mainly driven by increasing demand for electric power and as well as rapid industrialization & urbanization from developing economies. Utilities, oil & gas and renewable energy are key end-user industries that drive the demand for Medium Voltage Cable Market.
The report forecasts revenue of global Medium Voltage Cable Market, with respect to main regions such as North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. Medium Voltage Cable Market is also analyzed on the basis of the end-users which include industrial, renewable and infrastructure. The Medium Voltage Cable Market includes major players mainly Prysmian S.P.A(Italy), General Cable Corporation (U.S.), Nexans S. A. (France), NKT cables group GmbH (Germany) ,Sumitomo Electric Industries Ltd. (Japan), ABB Limited (Switzerland), Brugg Group(Switzerland),Dubai Cable Company Limited(Dubai),Kabelwerk Eupen Ag(Belgium),Leoni AG(Germany), LS Cable & System(Korea), Southwire(U.S.), Hendrix(Milford), and TPC Wires & Cable Corporation(U.S.). Contracts and agreements and expansions are the major development strategy adopted by the leading players in the market.
Asia-Pacific: Leading market for Medium voltage cable
Asia-Pacific dominated the Medium Voltage Cable Market in 2014, followed by Europe. Asia-Pacific Medium Voltage Cable Market is primarily driven by countries such as China, Japan, India, and Australia where there is a steep demand of medium voltage power cables. Growing renewable energy sector and increasing transmission & distribution infrastructure are the major drivers for Medium Voltage Cable Market in this region. China held approximately 60% of the overall market in 2014. Asia-Pacific was followed by regions such as, Europe, North America among others.
Underground Medium Voltage Cables: Largest Installation Market
Underground medium voltage cables dominate the overall medium voltage cables market as they provide lower transmission losses, can absorb emergency power loads, and lower maintenance costs. Underground power cables are designed to be placed under the surface of the earth, carried in a duct that separates it from direct contact with the soil. These cables emit no electric field and can be engineered to emit a lower magnetic field than an overhead line. Submarine cables are expected to grow at a decent CAGR of 6.3% from 2015-2020 as they are essential to connect oil & gas platforms with mainland power grids for their operations, where electricity is required in bulk.
Industrial End-User: Largest End-User Market
The industrial segment demands most of the Medium Voltage Cable Market with an estimated value of USD 17.5 Billion in 2015 and is expected to become USD 24.2 Billion by 2020. This segment provides a good scope for medium voltage cable manufacturers as nowadays most of the industries are dependent upon power cables for continuous supply of electric power. Industrial sector comprises mainly of the utilities, construction and manufacturing, mining industries, oil & gas, automotive, and pharmaceuticals among others. Utilities and oil & gas industries cover approximately 45% of the total industrial Medium Voltage Cable Market in 2014. The Medium Voltage Cable Market is likely to decline for oil & gas activities in 2015, but it is expected to grow with the stabilization of oil prices.
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