$4450
$3560
The Medium Voltage Cable Market size is expected to reach US$ 41.28 billion by 2031 from US$ 26.24 billion in 2024. The market is anticipated to register a CAGR of 6.9% during 2025–2031. Growing advancements in cable technology are likely to bring new trends to the market in the coming years.
Medium Voltage Cable Market Analysis
Rising energy demands, infrastructure development, and the shift to renewable energy sources are driving the global demand for medium voltage cables. Also, the growing emphasis on updating electricity networks to improve efficiency and reliability is accelerating the medium voltage cable market growth. Additionally, the growing adoption of smart grid technology and electric vehicles requires a dependable medium voltage infrastructure to enable energy distribution. Furthermore, technological advances in cable manufacturing processes and materials, like cross-linked polyethylene (XLPE) insulation, improve the performance and longevity of medium voltage cables, making them more appealing to utilities and industrial users, which is further propelling the growth of the market.
Medium Voltage Cable Market Overview
Medium-voltage electrical cables are utilized in industrial buildings, renewable energy projects, and power distribution networks. They provide longer transmission times, lower energy losses, and improved dependability. Medium voltage cables have long been an integral part of modern electrical distribution systems. They guarantee an effective, dependable supply of electricity that satisfies everyday demands by transporting power from substations to a variety of endpoints, including homes, businesses, and industrial sites. This increase in demand is because numerous industries are using medium voltage cables more frequently as a result of urbanization, industrialization, the growth of renewable energy sources, and the electrification of transportation.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Medium Voltage Cable Market: Strategic Insights
Market Size Value in US$ 18,694.1 Million in 2019 Market Size Value by US$ 24,591.1 Million by 2027 Growth rate CAGR of 4.7% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Medium Voltage Cable Market: Strategic Insights
| Market Size Value in | US$ 18,694.1 Million in 2019 |
| Market Size Value by | US$ 24,591.1 Million by 2027 |
| Growth rate | CAGR of 4.7% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Medium Voltage Cable Market Drivers and Opportunities
Growing Renewable Energy Sector
By the end of 2023, clean renewable power accounted for 43% of global installed power capacity, which is the biggest rise in green capacity, owing primarily to strong increases in solar and wind power consumption. Also, with the growing number of renewable energy projects worldwide, there is a rising need for robust medium voltage cables to connect power generation facilities to the grid and distribute electricity to consumers. Also, as countries strive to meet renewable energy targets and reduce carbon emissions, the demand for effective medium voltage solutions is anticipated to grow in the coming years. Furthermore, with modifications to the underlying grid infrastructure already underway, the demand for 11kV medium voltage cables is rising internationally.
Innovation in Set Top Box (STB) Technology
The rising adoption of electric vehicles (EVs) and the resulting expansion of charging infrastructure create a substantial opportunity for the medium voltage cable market. As more people and businesses switch to electric vehicles, the need for dependable power delivery to EV charging stations will continue to grow. Medium voltage cables are critical for connecting charging infrastructure to the grid, ensuring efficient energy transfer, and accommodating the increasing load on existing electrical systems. Governments and corporate entities are making significant investments in EV charging networks, which is expected to create an opportunity for the growth of the medium voltage cable market.
Medium Voltage Cable Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Medium Voltage Cable Market analysis are installation, voltage, and end user.
- Based on installation, the market is bifurcated into overhead, underground, and submarine. The overhead segment is further subsegmented into aluminium conductor steel reinforced (ACSR), all aluminium alloy conductor (AAAC), aluminium alloy conductor steel reinforced (AACSR), and others. The underground segment is further subsegmented into cross-linked polyethylene (XLPE), polyvinyl chloride (PVC), paper insulated lead covered (PILC), and others. The overhead segment dominated the market in 2024.
- By voltage, the market is segmented into 6 to 13 KV, 23 KV, 34 KV, 45 KV, 69 KV, and 1 to 5 KV. The 6 to 13 KV segment dominated the market in 2024.
- In terms of end user, the market is categorized into industrial, infrastructure, and renewables. The industrial segment dominated the market in 2024.
Medium Voltage Cable Market Share Analysis by Geography
The Medium Voltage Cable Market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. Asia Pacific dominated the market in 2024.
Asia Pacific witnesses a growing demand for medium voltage cables due to rapid urbanization, industrialization, and increasing energy demand. Countries such as China and India are driving this expansion, investing extensively in infrastructure development and renewable energy projects to support their booming economies. The increased emphasis on smart city projects and electrical grid modernization raises the demand for dependable medium voltage solutions. Furthermore, the increasing use of electric vehicles (EVs) in nations such as Japan, South Korea, and Australia presents considerable prospects for medium voltage cables to support EV charging infrastructure. Government programs supporting clean energy and sustainability are also driving the industry, since they encourage investments in renewable energy sources such as solar and wind power, which necessitate efficient medium-voltage transmission lines.
Medium Voltage Cable Market Report Scope
Medium Voltage Cable Market News and Recent Developments
The Medium Voltage Cable Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Medium Voltage Cable Market are listed below:
- Amokabel announced the launch of its new medium voltage cable, developed with a strong focus on sustainability, quality, and flexibility, and produced using 100% renewable energy. This new cable combines high technical performance with a commitment to environmental responsibility.
(Source: Amokabel, Press Release, May 2025)
- NKT is investing in additional production capacity and capabilities at its medium-voltage factories in Denmark, Sweden, and the Czech Republic to support growing demand from customers for medium-voltage power cables required for grid upgrades and renewables energy projects across Europe.
(Source: NKT, Press Release, April 2024)
Medium Voltage Cable Market Report Coverage and Deliverables
The "Medium Voltage Cable Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Medium Voltage Cable Market size and forecast at regional and country levels for all the key market segments covered under the scope
- Medium Voltage Cable Market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Medium Voltage Cable Market analysis covering key market trends, regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the Medium Voltage Cable Market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Installation Type and End-Users
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
ABB Ltd, Prysmian SpA, Nexans SA, TE Connectivity Ltd, Southwire Company LLC, Houston Wire & Cable Co., Belden Inc, LS Cable & System USA, Ensto Oy, NKT AS, The Okonite Co, Sumitomo Electric Industries Ltd, 3M Co, Eaton Corp Plc, and Hitachi Energy Ltd are key players operating in the market.
Increasing Need to Upgrade Antiquated Power Distribution Networks; Rising Demand for Uninterrupted Power Supply in Industries; and Surging Construction of Residential and Commercial Buildings are the driving factors impacting the medium voltage cable market.
The market is expected to register a CAGR of 6.9% during 2025–2031.
Advancements in Cable Technology is the future trends of the medium voltage cable market.
The List of Companies - Medium Voltage Cable Market
- ABB Ltd
- Prysmian SpA
- Nexans SA
- TE Connectivity Ltd
- Southwire Company LLC
- Houston Wire & Cable Co.
- Belden Inc
- LS Cable & System USA
- Ensto Oy
- NKT AS
- The Okonite Co
- Sumitomo Electric Industries Ltd
- 3M Co
- Eaton Corp Plc
- Hitachi Energy Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Medium Voltage Cable Market
Jul 2025
Optical Measuring Machine Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Equipment [Profile Projectors, Optical Digitizers and Scanners (ODSs), Coordinate Measuring Machines (CMMs), Measuring Microscopes, Video Measuring Machines (VMM) or Vision Measuring Systems, Profilometers, and Others], Optical Digitizers And Scanners (ODSS) Type (3D Laser Scanners, Structured Light Scanners and Laser Trackers), Application (Straight (Prismatic) Parts and Turned Parts), Turned Parts Type (Shafts, Bushings, Rings, and Others), Type (Contact and Noncontact), Industry Vertical (Automotive, Aerospace and Defense, Energy and Power, Electronics Manufacturing, Industrial, Medical, and Others), and Geography
Jul 2025
Room AC Market
Size and Forecast (2021-2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Split AC, Window AC, and Portable AC), Technology (Inverter Technology and Non-Inverter Technology), End User (Residential and Commercial), and Geography
Jul 2025
Smart Casing Running Tools Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Hardware [Remote Display, Sensor Kit (Torque and Tension Sensor, Position Sensor, Data Transmission Sensor, and Others), Head Assembly, Gripping Assembly, Circulator Assembly, Power Supply, and Other Accessories], Software (Inbuilt and Optional), Sales [Direct Sales and Aftermarket (Parts and Accessories and Service and Rental)], Application (Onshore and Offshore), Technology (Fully Automated CRT, Remotely Operated CRT, and Hybrid CRT), and Geography
Jul 2025
Spark Detection System Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component [Infrared Spark Detection Systems and Ultraviolet (UV) Spark Detection Systems], Application (Wood-Based Panel Industry, Textile Industry, Pulp and Paper Industry, Bioenergy, Food Industry, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Jul 2025
Remote Access Solution Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type [Secure Remote Access-VPN, Identity and Access Management (IAM) Solutions, Multi-Factor Authentication, Single Sign-On (SSO), Endpoint Security, and Others], Mode of Deployment (Cloud and On-Premise), End-Use Industry (IT and Telecommunications, BFSI, Healthcare, Government, Manufacturing, and Others), and Geography
Jul 2025
Process Instrumentation Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Flow Meter, Pressure and Temperature Sensor, Analytical Instrument, and Level Meter), Flow Meter (Mass Flow, EMF, Vortex, Ultrasonic, and Others), Level Meter (High Frequency Radar, TDR, and Others), Application (Oil and Gas, Energy and Power, Water and Wastewater, Food and Beverage, Marine, Petrochemical, Chemical, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Jul 2025
Hall Effect Teslameter Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Analog Hall Effect Teslameters and Digital Hall Effect Teslameters), End Users (Automotive, Industrial, Healthcare, Aerospace, Laboratory, and Others), and Geography
Jul 2025
Automotive Board to Board Connector Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Pin Headers, Sockets, Floating Connector, and Card Edge Connector), Pin Headers (Stacked Headers and Shrouded Headers), Application (Powertrain Control Systems, Infotainment and Navigation Systems, Advanced Driver Assistance Systems (ADAS), Electric Vehicles (EV) and Hybrid Vehicle Systems, Lighting Control Systems, Autonomous Vehicles, and Others), Pitch (Less Than 1 mm, 1–2 mm, and More Than 2 mm), Number of Pin (2–12 Pin, 13–30 Pin, 31–50 Pin, 51–100 Pin, and 100+ Pin), and Geography