Pune, India -- (SBWIRE) -- 12/03/2015 -- The report "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", defines and segments the global medium voltage cable market with an analysis and forecast of the market size. The medium voltage cable market is expected to grow from an estimated USD 35.2 Billion in 2015 to USD 48.8 Billion by 2020, at a CAGR of 6.8%.

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Increasing renewable energy production and growing demand of power has driven the demand for medium voltage cable around the world. Medium voltage cables/lines can be installed overhead, underground as well as underwater. Related cable accessories required for overhead lines are different from that required for underground and submarine lines. Cable joints and terminations are the major accessories being used in underground and submarine cable systems.

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Global medium voltage cable market growth is mainly driven by increasing demand for electric power and as well as rapid industrialization & urbanization from developing economies. Utilities, oil & gas and renewable energy are key end-user industries that drive the demand for medium voltage cable market.

The report analyzes global medium voltage cable market broken by geography into North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. It is also analyzed on the basis of the end-users which include industrial, renewable and infrastructure.

Asia-Pacific dominated the medium voltage cable market in 2014, followed by Europe. Market in Asia-Pacific medium voltage cable market is primarily driven by China, Japan, India, and Australia where there is a steep demand of medium voltage power cables. Growing renewable energy sector and increasing transmission & distribution infrastructure are the major drivers for medium voltage cable market in this region. China held approximately 60% of the overall market in 2014 and is likely to dominate in the future.

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.

Underground medium voltage cables dominate the overall medium voltage cables market for their lower transmission loss, ability to absorb emergency power loads, and lower maintenance costs. Underground power cables are designed to be placed under the surface of the earth, carried in a duct that separates it from direct contact with the soil. These cables emit no electric field and can be engineered to emit a lower magnetic field than an overhead line.

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