Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Medium Voltage Cable Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global medium voltage cable market is forecasted to achieve new heights, with a projected growth rate of 5.7% CAGR leading to an estimated market size of $56.4 billion by 2028. This comprehensive analytical deep dive, rich with data and insights, examines the booming medium voltage cable sector and its wide array of applications - from underground to submarine, and overhead installations.
Rising electricity demands, coupled with advancements in energy infrastructures, are key market drivers. These factors, along with accelerated urbanization and industrialization efforts globally, are contributing to the expansion of the medium voltage cable market. This surge is particularly strong within the utility segment, due to a noted increase in rural electrification projects and urbanization-induced electrical enhancements.
Segmentation and Regional Analysis
The market is segmented into various categories including installation type, voltage ratings, and product types such as termination cables, joints, and cross-linked polyethylene (XLPE) cables, as well as others. End-user industries like industrial, commercial, and utility sectors are analyzed, revealing utility as the largest and fastest-growing segment.
On the regional front, the Asia Pacific (APAC) region emerges as the leader, driven by a growing population, rising living standards, and burgeoning urbanization, all of which have escalated the demand for energy in these territories.
Competitive Landscape
Major medium voltage cable companies are capitalizing on market growth through infrastructural expansions, R&D initiatives, and strategic integrations across the value chain to cater to rising demands and to develop cutting-edge technologies. These strategies bolster their market presence and respond to the competitive market dynamics effectively.
Market Insights and Forecasts
This report dives deep into current trends, forecast data, segmentation analyses, and regional market breakdowns. Key market dynamics are scrutinized, including business risks, competitive threats, evolving trends, and customer demand shifts.
The detailed analysis provides a comprehensive examination of potential growth opportunities across various segments and geographical regions. Emerging trends are underscored, highlighting their underpinnings and potential impacts on the market.
A selection of companies mentioned in this report includes:
- General Cable
- Nexans SA
- NKT Group
- ABB Ltd
- Prysmian
- Southwire Company
- Kabelwerke Brugg
- Eland Cables
- Leoni AG
- Sumitomo Electric
For more information about this report visit https://www.researchandmarkets.com/r/u5eks3
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