Asia-Pacific Medium-voltage Cable Market Outlook, 2028

Asia-Pacific Medium-voltage Cable Market Outlook, 2028

Asia Pacific is one of the largest and fastest-growing markets for medium-voltage cable, with China ranked first in market share. The large population and rising standard of living are creating an ever-increasing demand for electricity. Thus, investment in power plants and distribution is expected to be one of the key factors driving the market. Also, developing economies in APAC are witnessing increased demand for houses, which is boosting growth in the residential segment and thereby driving the APAC medium voltage cable market. The rapid developments pertaining to technologies, initiatives from governments, and the digitalization of economies are driving economic growth. The huge population in the region has led to high demand for commercial and residential construction activities. The governments of various countries are taking different measures to attract private investments in construction and infrastructure development.

According to the research report, ""Asia-Pacific Medium Voltage Cable Market Outlook, 2028,"" published by Bonafide Research, the market is expected to grow at an 8.37% CAGR by 2023–28. An effective and dependable electrical infrastructure is necessary for the region's ongoing industrialization and infrastructure development projects, such as those for manufacturing facilities, power plants, and transportation networks. These projects cannot be completed without medium-voltage cables, which allow electricity to be sent to satisfy the rising energy demands. Solar, wind, and hydroelectric energy are among the renewable energy sources that many nations in the Asia-Pacific area are aggressively supporting. Installation of medium-voltage cables is required in order to transfer the electricity produced by renewable energy sources to consumers, assisting the region's transition to a greener and more sustainable energy mix.

Renewable energy sources are becoming increasingly popular throughout Asia and the Pacific. The use of medium-voltage cables for transferring renewable energy produced from these sources to the grid is being driven by the area's vast solar, wind, and hydropower resources. Medium-voltage cables are undergoing technological breakthroughs in the Asia-Pacific region, including the adoption of more modern insulating materials, higher conductivity, and improved fire resistance. The efficiency, dependability, and safety of power transmission and distribution networks are being improved by these developments. Energy-efficient medium-voltage cables are becoming more important in the Asia-Pacific region as awareness of energy-saving and sustainability practises rises. These cables aid in lowering transmission losses, maximising energy use, and advancing overall energy efficiency objectives. In Asia Pacific, these are the leading manufacturers of medium-voltage cables. Alpha Wire, Furukawa Electric Company, General Cable Technologies Corporation, Leoni AG, LS Cable & System, Nexans, and Sumitomo Electric Industries are some companies in this category.

This medium-voltage cable market can be divided into utilities, oil and gas, mining, renewables, transportation, and others based on end-users. Among these end-user segments, the demand for medium-voltage cables in the Asia-Pacific region is particularly high in the utilities sector due to extensive infrastructure development projects, increasing urbanisation, and efforts to provide reliable and affordable electricity to a growing population. The industrial sector, driven by rapid industrialization in emerging economies, also presents a significant demand driver. Additionally, the renewable energy sector is experiencing substantial growth in the region, creating opportunities for medium-voltage cable manufacturers and suppliers. And due to supportive regulations, expanding investment opportunities, and ambitious government goals, the renewables sector is set to undergo significant transformation.

In the Asia-Pacific region, copper is frequently preferred for medium-voltage cables. Excellent electrical conductivity, great tensile strength, and superior corrosion resistance are all characteristics of copper. It is suitable for high-load applications and long-distance power transmission because it has low electrical losses. The region's well-established manufacturing infrastructure and some of its copper-rich nations have led to a preference for copper-based medium-voltage cables. And aluminium is also used in medium-voltage cables in the Asia-Pacific region, particularly for applications where cost is a significant consideration. Compared to copper and aluminium, glass-based medium-voltage cables are used less frequently in the Asia-Pacific region. Glass-based cables are frequently employed in particular applications where resistance to fire, chemicals, or high temperatures is necessary. Depending on the needs of each individual nation, the degree of urbanisation, the topography, and the plans for infrastructure development, the chosen installation method can change within the Asia-Pacific region. Due to urbanisation and space limitations, certain countries in the region might favour underground installations more than others, while geographical reasons may make some of them more dependent on overhead installations.

The presence of high-capacity reservoirs and the finding of additional hydrocarbon reserves indicate that the oil and gas sector will experience rapid growth in the coming years. The expansion of charging infrastructure and rising costs for long-distance electronic mobility are supporting the transport sector's growth. The medium-voltage cable market has been analysed across key geographies operating across the region, namely, China, India, Japan, Australia, South Korea, and the rest of Asia Pacific. China is expected to dominate the Asia Pacific medium voltage underground cables market share due to the country’s major shift towards clean energy deployment, positive plans for hydrocarbon exploration and production activities, and transformation of industrial infrastructure. Furthermore, India is also expected to grow at a steady rate due to substantial rural electrification policies and opportunities, rising metal mining and production rates, and frequent power outage problems. There are several authorised associations and industry bodies in the Asia-Pacific region that play a crucial role in shaping the medium-voltage cable market. For instance, the Asian Cable Manufacturers Association (ACMA), the Electrical and Electronics Association of Malaysia (TEEAM), and the Japan Electric Wire and Cable Makers' Association (JEMCA) Common certifications for medium-voltage cables include the International Electro technical Commission (IEC) standards, national standards specific to each country, and product certifications such as ISO 9001 for quality management systems.

The Asia-Pacific region hosts several prominent events related to the electrical and power sectors that cover medium voltage cables, such as exhibitions, conferences, and trade fairs. Such as Power-Gen Asia, ELECRAMA, Electric Power & Renewable Energy Indonesia, and the International Exhibition on Electric Power Equipment and Technology (EP Shanghai). The market for medium-voltage cables is positioned for continued expansion and innovation in the Asia-Pacific area, opening up potential for both domestic and foreign businesses. Industry participants should concentrate on product innovation, quality control, and customer-centric solutions if they want to succeed in this cutthroat market. Gaining access to the enormous potential of the Asia-Pacific medium voltage cable market will require forging good alliances, comprehending regional requirements, and staying current with market developments. The demand for dependable electrical supply is rising, which has fuelled economic growth, infrastructure development, and the growth of the Asia-Pacific medium voltage cable industry.

Considered in this report
• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Asia Pacific Medium Voltage Cable market with its value and forecast along with its segments
• Country-wise Medium Voltage Cable Market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• China
• India
• Japan
• Australia
• South Korea

By Installation Type:
• Overhead
• Underground
• Submarine

By End Users:
• Power Infrastructure (Energy, Power Transmission, and Distribution)
• IT & Telecommunication
• Building & Construction (Commercial and Residential)
• Aerospace & Defence
• Consumer Electronics
• Automotive (Passenger, Commercial, and Utility Vehicles)
• Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Medium Voltage Cable industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.