Medium Voltage Cables Market to Reach USD 56.39 Billion by 2026; NKT Contract for offshore Export Cable Systems to Augment Growth, states Fortune Business Insights™

Key Companies Covered in Medium Voltage Cables Market Research Report are Prysmian Group, Nexans, General Cable, NKT, Furukawa Electric Co., Ltd., ABB, Dubai Cable Company - Ducab, Jiangnan Group Limited, Schneider Electric, Tratos, Universal Cables Ltd, Brugg Cables, Riyadh Cables Group Company, Synergy Cables, ZTT , & other Key Players.


Pune, Feb. 19, 2020 (GLOBE NEWSWIRE) -- The global medium voltage cables market size is likely to reach USD 56.39 billion by 2026, exhibiting a CAGR of 6.9% during the forecast period. The rising technological advancement in grid infrastructures will impel energy providers to increase energy production by deploying distribution lines, which in turn will bolster healthy growth of the market in the forthcoming years. For instance, in 2002, there was a construction of the  Cross-Sound Cable, which consisted of a pair of high-voltage DC transmission lines through Long Island sound that connects the electricity grids of New York and New England. Furthermore, the focus of countries towards the expansion of grid systems for maximum power supply will uplift the medium voltage cables market share in the forthcoming years. For instance, in 2015, the development of 2,383 kilometre-long ultra-high-voltage transmission line connecting Jiuquan city, in northwest China's Gansu Province with central China's Hunan Province. Deng Qinghong, deputy director of the construction department of State Grid Hunan Electric Power Company, said in a statement, “This ultra-high-voltage transmission line can transfer 40 billion kilowatt-hours of power to Hunan each year, meeting one-fourth of the total power demand in the province. This power can also benefit other central China provinces through the central China power grid.”

According to the report, published by Fortune Business Insights, titled “Medium Voltage Cables Market Size, Share & Industry Analysis, By Installation (Overhead, Underground), By Voltage (1kV – 15kV, 16kV – 35kV, 36kV-70kV), By Application (Industrial, Commercial, Utility) and Regional Forecast, 2019-2026.” The report focuses on demonstrating a complete assessment of the medium voltage cables market. It contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology. It offers valuable insights into all the notable developments of the market. It shares a complete overview of all the segments & parts of the market and also provides statistical data on all the regions. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and industry developments. 

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NKT Contract for offshore Export Cable Systems Will Spur Business Advances

NKT, a leading cable and cable accessories supplier, signed a supplier agreement with Dogger Bank Wind Farms Creyke Beck A and Creyke Beck B site for the delivery and installation of high-voltage DC on- and offshore export cable systems. The NKT delivery and order will comprise of 4×175 km of 320 kV DC offshore export power cables and approx. 4×32 km of 320 kV DC onshore export power cables as well as installation by the cable-laying vessel NKT Victoria. The manufacturing of the power cables will commence from the end-2021 at the manufacturing plant in Karlskrona, Sweden. The estimation of the contract is valued at EUR 360 million. The agreement between NKT and Dogger Bank Wind Farms Creyke Beck A and Creyke Beck B will contribute positively to the medium voltage cables market trends owing to its supply of green energy to approximately 3 million households in the UK. Furthermore, the NKT President and CEO, Alexander Kara said in a statement “I am excited that our long-term customers of Equinor and SSE have selected NKT as turnkey provider of the cable systems for the Dogger Bank Wind Farms Creyke Beck A/B and recognize us as a high-voltage DC technology partner in the market. In addition, I am pleased to observe the continued European focus on increasing the use of renewable energy sources, which is a trend from which NKT sees good growth opportunities”.   

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High Utilization of Renewables to Propel Market in North America

The market in North America is expected to rise significantly during the forecast period owing to the surge in renewable energy and exploration activities. The market in Asia Pacific stood at USD 11.89 billion in 2018 and is likely to dominate during the forecast period. The growth in the region is attributable to the rising inclination towards renewables such as wind and solar in countries such as China, India, Japan, South Korea, and Australia. Europe is predicted to witness high demand during the forecast period owing to the Green energy targets in the region.

List of the Major Companies Operating in Medium Voltage Cables Market Include:

  • Prysmian Group
  • Nexans
  • General Cable
  • NKT
  • Furukawa Electric Co., Ltd.
  • ABB
  • Dubai Cable Company - Ducab
  • Jiangnan Group Limited
  • Schneider Electric
  • Tratos
  • Universal Cables Ltd
  • Brugg Cables
  • Riyadh Cables Group Company
  • Synergy Cables
  • ZTT

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Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Latest Technological Advancement
    • Regulatory Landscape
    • Industry SWOT Analysis
    • Porters Five Forces Analysis
  • Global Medium Voltage Cables Market Analysis (USD Billion), Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Installation
      •  Overhead
      •  Underground
    • Market Analysis, Insights and Forecast – By Voltage
      •  1 kV - 15 kV
      •  16 kV - 35 kV
      •  36 kV – 70 kV
    • Market Analysis, Insights and Forecast – By Application
      •  Industrial
      •  Commercial
      •  Utility
    • Market Analysis, Insights, and Forecast – By Region
      •  North America
      •  Europe
      •  Asia Pacific
      •  Latin America
      •  Middle East & Africa


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