PUNE, India, June 27, 2016 /PRNewswire/ --
The report "Medium Voltage Cables & Accessories Market by Overhead (Conductors, Fittings & Fixtures), Underground & Submarine (MI Cables, XLPE Cables, Cable Terminations, Cable Joints), End-User (Infrastructure, Industrial, Renewables), & by Region - Forecast to 2021" published by MarketsandMarkets, The market is expected to grow from an estimated USD 37.52 Billion in 2016 to USD 51.24 Billion by 2021, at a CAGR of 6.4% from the 2016 to 2021.
Browse 106 market data Tables and 52 Figures spread through 189 Pages and in-depth TOC on "Medium Voltage Cables & Accessories Market"
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Increase in renewable energy generation, rapid industrialization & urbanization, and government initiatives undertaken to expand T&D systems would drive the market for medium voltage cables & accessories.
Industrial sector to dominate the Medium Voltage Cables & Accessories Market during the forecast period
Medium voltage cables & accessories have been categorized into three segments (by installation), namely, Industrial, infrastructure, and renewables. The industrial sector held around half of the Medium Voltage Cables & Accessories Market share in 2015. Growth in construction would eventually increase the number of medium voltage cables & accessories being used in the construction process. This drives the market for medium voltage cables & accessories for the industrial sector.
Underground medium voltage cables & accessories within the installation segment to hold the major share during the forecast period
On the basis of installation, the Medium Voltage Cables & Accessories Market has been segmented into underground, overhead, and renewables. The underground sector dominated the market, followed by infrastructure. Continuous refurbishment of medium voltage cables & accessories is essential in the underground segment. They have to be replaced in order to maintain the cables according to the soil condition. Therefore, the market for medium voltage cables & accessories in underground segment is expected to grow at the highest CAGR during the forecast period.
Asia-Pacific would see the highest growth for the Medium Voltage Cables & Accessories Market
The report covers five regions, namely, Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to witness high growth rate for medium voltage cables & accessories from 2016 to 2021. Moreover, increase in the renewable power generation would drive the Medium Voltage Cables & Accessories Market.
The report also provides an in-depth understanding of the competitive landscape, along with profiles of the leading Medium Voltage Cables & Accessories Market players such as Prysmian S.p.A (Italy), General Cable Technologies Corporation (U.S.), Nexans (France), NKT Cables (Germany), and ABB Ltd. (Switzerland).
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