Low voltage cable market growth projected at 7% CAGR to 2020 and 6.8% CAGR for medium voltage cable

2015-11-8

 Currently worth $105.2 billion in 2015, low voltage cable market (along with accessories) is forecast to reach $147.3 billion by 2020 at 7% CAGR, while medium voltage cable market is expected to grow at 6.8% CAGR and hit $48.8 billion by 2020.

Low voltage cable market has been segmented based on various regions, namely Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa. The report also includes country-level analysis based on installation; this analysis provides market sizes, by value for various methods of installations. Asia-Pacific held the largest market share in the low voltage cables market (along with accessories) in 2014, and is projected to grow at the highest CAGR due to the high urbanization and industrialization in countries such as China, India, and Japan which is increasing the spending for power infrastructure. China and India are two of the fastest-growing economies contributing towards the growth of low voltage cable market.

Upgrade of existing transmission & distribution network and implementation of smart grid in Europe and North America are driving the growth of accessories and low voltage cable market in the respective geographies. In Europe, Germany and the U.K. contributed major market share in 2014, while the U.S. largely dominated the North American market in the same year. The low voltage cable market in Latin America and the Middle East & Africa regions are expected to grow at higher growth rates due to their current expansion transmission & distribution projects to meet the growing demand of power in these regions.

The second research titled 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 offers detailed analysis of medium voltage cable market, with regards to the current scenario and the trends prevailing in the industry. Asia-Pacific dominated the medium voltage cable market in 2014, followed by Europe. The need to continuous supply of electric power in various industries such as, oil & gas, chemicals, and cement among others are expected to drive the medium voltage cable market and accessories segments in Asia-Pacific region. Furthermore, infrastructure construction in China, India, Indonesia, and Malaysia, are expected to boost the medium voltage cable market and accessories sectors market in the coming years. The market in Asia-Pacific is projected to grow at a higher rate of 7.1% from 2015-2020, in medium voltage cables and accessories market, with China showing the fastest growth within the region. Europe accounted for the second largest MVCA market in 2014. Increasing investment in wind energy, growing industries, and increasing power generation offer huge potential for medium voltage cable market and accessories in Europe.

The industrial segment demands most of the medium voltage cable market. Market under this segment is expected to be USD 17.5 billion by the end of 2015. The scope of industrial end user segment includes mainly the utilities, construction and manufacturing, mining industries, oil & gas, automotive, and pharmaceuticals among others. Utilities and oil & gas industries covered 45% of the total industrial medium voltage cable market in 2014. Spread across 200 pages, this medium voltage cable market profiles companies like Prysmian S.P.A, General Cable Corporation, Nexans S.A., NKT Cables Group GmbH, Sumitomo Electric Industries, Ltd., ABB Ltd., Brugg Group, Dubai Cable Company (Private) Ltd., Kabelwerk Eupen AG, Leoni AG, LS Cable & System, Southwire Company, Llc, Hendrix, TPC Wires & Cable Corp., Bahra Advanced Cable Manufacture Co. Ltd., Caledonian Cables Ltd., Hebei New Baofeng Wire & Cable Co., Ltd., Riyadh Cables Group of Companies and Top Cable, S.A.