Pune, India, Sept. 29, 2023 (GLOBE NEWSWIRE) — In the energy & power sector, medium voltage cables and accessories have applications in solar power generation, transmission, and distribution. The region is highly focused on the expansion of its wind and solar energy capacity. The growing installation of wind and solar energy capacity in the region is expected to raise the demand for medium voltage cables and accessories as it is essential to supply the electricity from the plant to the power grid. Thus, the growth of construction and energy & power industries drives the medium voltage cable and accessories market growth in Europe.Cable terminations are essential for cables to operate. The desired direction of the flow of electricity is facilitated by cable terminations, which create physical and electrical connections between the cable and the terminal of the equipment, junction, or another cable. The industry employs different kinds of cable terminations, including pre-molded push-on and heat- and cold-shrink types. Due to such huge applications, several players are launching cable termination systems; for instance, in July 2021, NKT A/S announced the introduction of the new offshore wind farm, Array Cable Termination System (ACTS). The system enables easy installation with minimal disruption. Such developments are driving the medium voltage cable and accessories market growth for the segment terminations.Based on installation, the medium voltage cable and accessories market is segmented into overhead, underground, and submarine. The underground segment recorded the largest medium voltage cable and accessories market share in 2022 and is anticipated to register the highest CAGR during the forecast period. Based on product, the market is segmented into MI, terminations, joints, and XLPE Cables. The termination segment registered the largest share of the medium voltage cable and accessories market in 2022, whereas the joints segment is anticipated to record the highest CAGR during the forecast period. Based on Voltage, the market is segmented into 1 to 5, 6 to 13, 23, 34, 45, and 69. The 6 to 13 segments recorded the largest medium voltage cable and accessories market share in 2022, whereas the 23 segment is anticipated to record the highest CAGR during the forecast period. Based on end user, the medium voltage cable and accessories market is segmented into industrial, infrastructure, and renewables. The industrial segment registered the largest share of the medium voltage cable and accessories market in 2022 and is expected to record the highest CAGR during the forecast period.ABB ltd, Hellenic Cables SA, El Sewedy Electric Co., Prysmian SpA, NKT AS, The Okonite Co., Eland Cables Ltd., Tratos Cavi SpA, Nexans SA, TPC Wire & Cable Corp, are among the key medium voltage cable and accessories market players that are profiled in the report. Several other essential medium voltage cable and accessories market players were analyzed for a holistic view of the market and its ecosystem. The market report provides detailed market insights to help major players strategize their growth.In August 2023, Elsewedy Electric KSA provided low-voltage and medium-voltage cables for the 28 km tunnels being built as part of “The Line,” which will be the world’s first zero-gravity vertical city.Medium Voltage Cable Market – Global Analysis and Forecast to 2027.
High Voltage Cable Market – Global Analysis and Forecast to 2027.
Submarine Power Cable Market – Global Analysis and Forecast to 2028.The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.If you have any queries about this report or if you would like further information, please contact us:E-mail: [email protected]
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(GlobeNewsWire)