Europe Medium Voltage Cable Market
Medium voltage cables are used to supply electricity to residential and commercial buildings. They are highly suitable for indoor and outdoor applications and cable trays for industrial buildings, switch-boards, and power stations. In Europe, majority of the market growth is anticipated from the developing economies in eastern European region. Also, blooming oil & gas discoveries in Russia are propelling the demand for medium voltage cables. Goal of the European Union to attain green energy targets has also compelled countries across the region to invest a considerable amount in green energy projects, which is expected to boost the development of voltage transmission lines, thus, propelling the growth of the market. Also, investments in smart grids across the region has propelled the demand for medium voltage cables. Furthermore, countries in the region, including Norway, have recently been experiencing an increase in discovery of new oil & gas reserves, which is expected to drive the market during the forecast period. The commercial and residential sectors are expanding due to the increased income of individuals, demographic trends, and low mortgage rates. With the new construction projects, maintenance activities related to the existing structures have also increased. The UK and Germany are experiencing high growth in their respective construction sectors. In Spain and Italy, governments are taking initiatives to support the expansion of the commercial and residential sectors through subsidies, and investments and grants for the renovation and construction of public and private infrastructural projects. The growth in the construction sector in Europe is a prime factor fueling the Europe medium voltage cable market growth.
Moreover, in case of COVID-19, Europe is highly affected specially the UK. The construction industry in Europe suffered one of the biggest drops in activities after the building sites were closed. The supply of safety equipment and workers was disrupted due to the pandemic. The drop in the region's construction activities has directly affected the sales of the medium voltage cable products in Europe. Due to the decline in construction, the medium voltage cable market will witness an abrupt downturn in 2020. Further, countries in the region, including Germany, UK, France, and Belgium, have witnessed a second wave of the virus and have announced lockdown for the second time in November 2020. The situation amid the COVID-19 pandemic is extraordinary, which is anticipated to hamper the market's growth. Also, demand for medium voltage cables from certain countries, such as Germany and the Netherlands, was positive during the first half of 2020, owing to grid optimization activities. Furthermore, the Danish market also noticed positive demand in Q3, 2020. Additionally, demand in the Czech Republic declined due to a slowdown in construction activities and the UK due to government restrictions on several industries' operations. Overall, the demand for medium voltage power cables in the region is expected to be driven by expanding the approved pan-European grid.
Strategic insights for the Europe Medium Voltage Cable provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 4,721.7 Million |
| Market Size by 2027 | US$ 6,595.3 Million |
| Global CAGR (2020 - 2027) | 5.53 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Installation Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Medium Voltage Cable refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe medium voltage cable market is expected to grow from US$ 4,721.7 million in 2019 to US$ 6,595.3 million by 2027; it is estimated to grow at a CAGR of 5.53 % from 2020 to 2027. Upgradation in the cable technology is expected to accelerate the Europe medium voltage cable market. With growing popularity and applicability of underground cable systems, noteworthy technological advancements have been introduced to overcome the various limitations of these cables. Most of these innovations are focused on advancements of insulation and voltage grade. The progress in the area of material science has helped in the development of better-quality polymers capable of achieving required mechanical and electrical properties of the cable. For instance, the introduction of Teflon cables, which are capable to withstand up to 250°C temperatures, has become an alternative solution to conventional polymer cables that can usually withstand temperature up to 70°C. Furthermore, alternative conductors have already been discovered, which can replace high-cost copper. Moreover, similar advancements have been also witnessed in the overhead cables. Such developments would further increase the deployment of new cable technologies in various end-use industries across Europe region, thereby driving the Europe medium voltage cable market.
In terms of installation type, the overhead cables and accessories segment accounted for the largest share of the Europe medium voltage cable market in 2019. In terms of end-users, the energy and power segment held a larger market share of the Europe medium voltage cable market in 2019.
A few major primary and secondary sources referred to for preparing this report on the Europe medium voltage cable market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Alpha Wire; BRUGG Group AG; Cleveland Cable Company; Furukawa Electric Co. Ltd.; General Cable Technologies Corporation; LEONI AG; LS Cable & System Ltd.; Nexans; Prysmian Group; Sumitomo Electric Industries, Ltd.
The Europe Medium Voltage Cable Market is valued at US$ 4,721.7 Million in 2019, it is projected to reach US$ 6,595.3 Million by 2027.
As per our report Europe Medium Voltage Cable Market, the market size is valued at US$ 4,721.7 Million in 2019, projecting it to reach US$ 6,595.3 Million by 2027. This translates to a CAGR of approximately 5.53 % during the forecast period.
The Europe Medium Voltage Cable Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Medium Voltage Cable Market report:
The Europe Medium Voltage Cable Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Medium Voltage Cable Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Medium Voltage Cable Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
UK+442030260021, US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Europe Medium Voltage Cable Market
