Europe Medium-voltage Cable Market Outlook, 2028

Europe Medium-voltage Cable Market Outlook, 2028

Europe's Medium Voltage Cable market stands as a dynamic and influential sector within the continent's power distribution landscape. With a steadfast focus on energy efficiency, sustainability, and reliable electricity transmission, the European market for Medium Voltage Cables has witnessed significant growth and innovation. As Europe spearheads the transition towards clean and renewable energy sources, Medium Voltage Cables play a crucial role in facilitating the seamless and efficient distribution of electricity across diverse industries and applications. The demand for Medium Voltage Cables in Europe stems from a wide range of sectors, including utilities, industrial, commercial, and residential segments. Utility companies rely on Medium Voltage Cables to transmit and distribute electricity, ensuring a consistent and reliable power supply to homes, businesses, and public infrastructure. The industrial sector, encompassing manufacturing, mining, and oil and gas industries, heavily depends on Medium Voltage Cables to power machinery, infrastructure, and critical operations. Moreover, as Europe embraces sustainable building practices, Medium Voltage Cables are integral to electrical systems in commercial and residential constructions, contributing to energy-efficient and environmentally friendly structures.

According to the research report, “Europe Medium Voltage Cable Market Outlook, 2028” published by Bonafide Research, the market is anticipated to add more than USD 2.76 Billion from 2023 to 2028. In Europe, the demand for medium voltage cables is influenced by a number of variables. The continent's dedication to energy transition and renewable energy projects drives the demand for effective cable solutions to connect and incorporate renewable power sources. Along with infrastructure development initiatives, the market is also driven by the rising demand for power in the industrial and residential sectors. The expansion of the market for medium voltage cables is also aided by governmental programmers and rules aimed at improving energy efficiency and grid modernization. These cables offer a dependable and effective way to carry electricity, assuring an ongoing supply of power to all industries and sectors. They advocate the use of renewable energy sources, helping Europe achieve its sustainability objectives. The development of smart grids, which improve grid resilience and provide effective energy management, is also made possible by medium voltage cables.

Copper is a widely used material in the European Medium Voltage Cable market due to its excellent electrical conductivity and thermal performance. In Europe, medium voltage cables are also frequently made of aluminium because it is less expensive and lighter than copper. Aluminium conductors are appropriate for medium voltage power transmission and distribution applications because they have good electrical conductivity. In overhead power lines, where weight reduction is important to reduce the load on support structures, aluminium cables are frequently utilised. And Due to its superior electrical conductivity and thermal performance, copper is a material that is frequently utilised in the production of European Medium Voltage Cable. The Glass-based cables, such as optical fiber cables, are primarily utilized for telecommunications and data transmission purposes rather than power transmission and distribution. The copper segment was a key contributor to Europe's low to medium voltage cable market, and its predominant use in electrical installation work in buildings makes it one of the most preferred amongst other alternatives.

The demand for medium voltage cables is particularly high in the utilities sector due to the ongoing grid modernization efforts, integration of renewable energy, and cross-border interconnections. The industrial sector also represents a significant demand driver, driven by expansion plans and the need for reliable power supply. Additionally, the renewable energy sector is experiencing rapid growth, contributing to the demand for medium voltage cables. The European Medium Voltage Cable market is highly competitive, with the presence of both multinational corporations and regional players. Competition is driven by factors such as product quality, reliability, cost-effectiveness, and service offerings. In Europe, the well-known companies in the Medium Voltage Cable market comprise Nexans SA, Prysmian Group, Hitachi Ltd, Southwire Company LLC, and Sumitomo Electric Industries Ltd.

In Europe, installing medium voltage cables underground is generally recommended, particularly in cities and other heavily inhabited places. Underground cables have benefits including better looks, a smaller environmental effect, and more protection from the elements, vandalism, and unintentional damage. For long-distance power transmission projects especially in rural locations, overhead installation of medium voltage cables is frequently used. In regions with difficult terrain or where considerable excavation is impractical, overhead wires are more cost-effective than underground cables. In coastal regions and areas with water bodies, submarine and subsea installations of medium voltage cables are preferred for interconnections between islands, offshore wind farms, and underwater power transmission. With the increasing adoption of electric vehicles (EVs) in Europe, there is a growing demand for Medium Voltage Cables to support the development of EV charging infrastructure. Medium Voltage Cables are used in the deployment of fast-charging stations and grid connections for EV charging networks.

On the European market for medium-voltage cables, Germany is one of the top nations. With a major focus on the integration of renewable energy sources and grid modernization, Germany has a well-established and technologically sophisticated electrical infrastructure. Significant investments have been made in the market for medium-voltage cables as a result of the nation's commitment to switching to renewable energy sources like wind and solar power. German businesses are renowned for their skills in producing high-quality medium-voltage cables and creative solutions for effective power distribution and transmission. The strong demand for medium-voltage cables both domestically and abroad is also influenced by Germany's thriving industrial sector and infrastructure development initiatives.

In order to guarantee security, dependability, and standard observance, the medium voltage cable market in Europe is governed by a number of laws. European wire and cable producers, especially those who create medium voltage cables, are known as euromedium-voltageecable.Emedium-voltagen standards are created and defined for electrical engineering and related technologies by the European Committee for Standards and Technical Standardization (CENELEC). To ensure uniformity and interoperability, CENELEC standards address a variety of medium-voltage cable-related issues. British Approvals Service for Cables (BASEC) conducts impartial testing and certifies cable goods. Certification by BASEC ensures adherence to pertinent British and international standards. Medium-voltage cables can be tested for functionality and certified by the Association for Electrical, Electronic, and Information Technologies (VDE). Wire & Tube, Hannover Messe are industrial trade fairs globally, held annually in Hannover, Germany.

Europe's market for medium voltage cables flourishes because of its dedication to innovation, quality, and safety. With a strong emphasis on energy efficiency, sustainability, and technological innovation, Europe has witnessed significant advancements in Medium Voltage Cable technology. The market plays a crucial role in facilitating reliable and efficient electricity transmission across various industries, including utilities, industrial sectors, commercial buildings, and residential installations. The market is well-positioned for future growth and success with a strong focus on compliance, a culture of continual improvement, and a varied customer base. The Medium Voltage Cable market will become more and more crucial as Europe continues its energy transition and adopts sustainable practises, enabling effective and dependable power distribution throughout the continent.

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

Aspects covered in this report
• Europe 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:
• United Kingdom
• Germany
• Italy
• Spain
• Russia
• France

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.