Medium Voltage Wire and Cable Market by Product Type (XLPE Cables, EPR Cables, PILC Cables), Voltage Rating (1 kV–15 kV, 16 kV–25 kV, 26 kV–35 kV), End-User (Utilities, Industrial Applications, Commercial Establishments), Installation Type (Overhead, Underground, Submarine) – Global Insights & Forecast (2023 – 2030)

As per Intent Market Research, the Medium Voltage Wire and Cable Market was valued at USD 38.7 Billion in 2024-e and will surpass USD 72.1 Billion by 2030; growing at a CAGR of 9.3%during 2025-2030.

The medium voltage wire and cable market is witnessing robust growth as industries, utilities, and commercial establishments continue to expand their electrical infrastructures. These cables play a critical role in transmitting power across medium voltage ranges (1 kV to 35 kV), serving various applications such as industrial facilities, commercial buildings, and utility networks. With the increasing need for more reliable and efficient power distribution systems, medium voltage cables are essential in ensuring smooth and continuous electricity supply. Moreover, as the demand for electricity grows, especially with the rise of renewable energy sources and smart grid technology, the demand for medium voltage cables is projected to increase steadily.

The market is being driven by key factors such as urbanization, industrialization, and the ongoing development of infrastructure in both developed and emerging markets. Medium voltage cables, which include products such as XLPE, EPR, and PILC cables, are integral to power generation, transmission, and distribution. These cables ensure the safe and efficient delivery of electricity, meeting the growing needs of residential, industrial, and commercial sectors. With advancements in cable technology, manufacturers are also focusing on producing cables with enhanced durability, fire resistance, and environmental sustainability to meet regulatory standards and customer demands.

XLPE Cables Are the Largest Segment, Owing to High Performance and Versatility

XLPE (cross-linked polyethylene) cables are the largest segment in the medium voltage wire and cable market due to their high-performance characteristics and versatile applications. These cables are widely used across industrial, utility, and commercial sectors because of their excellent electrical properties, high resistance to environmental factors, and ability to withstand high temperatures. XLPE cables are favored for their ability to provide consistent power transmission over long distances with minimal losses, making them ideal for overhead and underground installations in power distribution networks.

XLPE cables are also gaining popularity due to their ease of installation and maintenance, cost-effectiveness, and superior mechanical properties. The growth of renewable energy projects, including wind and solar energy systems, which require robust power transmission solutions, has further contributed to the increasing adoption of XLPE cables. As industries move towards energy-efficient and sustainable power systems, XLPE cables are expected to remain the dominant choice in the medium voltage wire and cable market.

16 kV–25 kV Voltage Rating Segment is Fastest Growing, Driven by Industrial and Utility Demand

The 16 kV to 25 kV voltage rating segment is the fastest-growing in the medium voltage wire and cable market. This voltage range is ideal for industrial and utility applications that require efficient and reliable power distribution across medium voltage networks. The increasing demand for electricity in both developed and emerging economies, coupled with the expansion of infrastructure in sectors such as manufacturing, construction, and energy, has significantly boosted the need for cables in this voltage range.

Furthermore, the transition to smart grid technologies and the growing integration of renewable energy sources, such as solar and wind power, are driving the demand for cables that can handle higher voltage levels and support modern grid operations. The 16 kV to 25 kV voltage rating is particularly suitable for such applications, as it provides the necessary power transfer capabilities while ensuring safety and system efficiency. This segment's rapid growth is expected to continue as utilities and industrial sectors upgrade their power transmission infrastructure to meet evolving demands.

Overhead Installation Type Leads in Market Share, Due to Cost-Effectiveness and Flexibility

The overhead installation type is the leading segment in the medium voltage wire and cable market due to its cost-effectiveness and installation flexibility. Overhead cables are commonly used in utility networks, industrial facilities, and commercial buildings, especially in regions where the cost of underground installations is prohibitively high. These cables are easy to install, maintain, and replace, making them an attractive option for power distribution systems.

Additionally, overhead cables are ideal for rural areas or regions with expansive industrial zones, where underground installation may not be feasible due to geographic or financial constraints. The popularity of overhead cables is also driven by their ability to accommodate varying environmental conditions, including harsh weather, without compromising performance. As power distribution requirements grow in both urban and rural areas, the demand for overhead medium voltage cables is expected to remain strong.

Utilities Remain the Largest End-User Segment, Driven by Infrastructure Expansion

The utilities sector remains the largest end-user segment in the medium voltage wire and cable market. With the increasing demand for reliable electricity distribution, utilities require robust and efficient power transmission systems to meet the needs of urban, suburban, and rural areas. As the global population grows and electricity consumption rises, utilities are expanding their infrastructure to accommodate higher power loads and integrate renewable energy sources into the grid.

In particular, the ongoing modernization of utility infrastructure, including the adoption of smart grid technologies and the expansion of renewable energy generation, is fueling the demand for medium voltage cables. Utilities require high-quality cables to support these advanced power systems, ensuring stable and secure electricity supply. The steady expansion of the utilities sector and the need to replace outdated infrastructure with more efficient and reliable systems will continue to drive the demand for medium voltage wires and cables in this segment.

Asia-Pacific Region is the Fastest Growing, Driven by Industrialization and Infrastructure Development

The Asia-Pacific (APAC) region is the fastest-growing market for medium voltage wires and cables. Rapid industrialization, urbanization, and infrastructure development in countries such as China, India, and Southeast Asian nations are the primary drivers of this growth. The APAC region has become a hub for manufacturing and power generation, and the growing demand for electricity in industrial and residential areas has significantly increased the need for efficient power distribution systems.

The rise of renewable energy projects, particularly solar and wind power, in the region has further fueled the demand for medium voltage cables. As these projects require robust and high-performing cable systems for power transmission and integration into the grid, the demand for medium voltage cables in the 16 kV to 25 kV voltage range is expected to grow rapidly. Additionally, government initiatives to upgrade power grids and improve energy efficiency are also contributing to the market expansion in the APAC region. With its expanding industrial base and infrastructure needs, the APAC region is expected to continue to lead the market's growth.

Competitive Landscape and Leading Companies

The medium voltage wire and cable market is highly competitive, with key players such as Nexans S.A., Prysmian Group, General Cable (now part of Prysmian), Southwire Company, and Sumitomo Electric Industries dominating the industry. These companies focus on technological advancements, offering a wide range of products with enhanced capabilities, such as better heat resistance, improved energy efficiency, and eco-friendly materials. They are also investing in research and development to create cables that can meet the evolving needs of the renewable energy sector, smart grid technologies, and industrial applications.

In addition to these global leaders, regional players also contribute to the market dynamics, especially in emerging economies where the demand for medium voltage cables is growing rapidly. The competitive landscape is characterized by product innovations, strategic partnerships, and acquisitions aimed at expanding product portfolios and regional presence. With increasing competition and growing demand, companies are focusing on providing cost-effective, reliable, and energy-efficient cable solutions to cater to a diverse set of end-users across industries and regions.

Recent Developments:

  • In December 2024, Prysmian Group launched a new line of high-performance XLPE cables designed for renewable energy systems.
  • In November 2024, Nexans SA announced a partnership to provide submarine cables for an offshore wind energy project in Europe.
  • In October 2024, Southwire Company unveiled environmentally friendly underground cables with enhanced durability.
  • In September 2024, LS Cable & System introduced advanced medium voltage cables optimized for smart grid applications.
  • In August 2024, Sumitomo Electric Industries expanded its production capacity for medium voltage cables to meet rising global demand.

List of Leading Companies:

  • Prysmian Group
  • Nexans SA
  • General Cable (Prysmian Group)
  • Southwire Company, LLC
  • LS Cable & System Ltd.
  • Sumitomo Electric Industries, Ltd.
  • Furukawa Electric Co., Ltd.
  • Encore Wire Corporation
  • Hengtong Group
  • KEI Industries Limited
  • Riyadh Cables Group Company
  • TPC Wire & Cable Corp.
  • Finolex Cables Ltd.
  • Tratos Group
  • Jiangnan Group Limited

Report Scope:

Report Features

Description

Market Size (2024-e)

USD 38.7 Billion

Forecasted Value (2030)

USD 72.1 Billion

CAGR (2025 – 2030)

9.3%

Base Year for Estimation

2024-e

Historic Year

2023

Forecast Period

2025 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Medium Voltage Wire and Cable Market by Product Type (XLPE Cables, EPR Cables, PILC Cables), Voltage Rating (1 kV–15 kV, 16 kV–25 kV, 26 kV–35 kV), End-User (Utilities, Industrial Applications, Commercial Establishments), Installation Type (Overhead, Underground, Submarine)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

Prysmian Group, Nexans SA, General Cable (Prysmian Group), Southwire Company, LLC, LS Cable & System Ltd., Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., Encore Wire Corporation, Hengtong Group, KEI Industries Limited, Riyadh Cables Group Company, TPC Wire & Cable Corp., Finolex Cables Ltd., Tratos Group, Jiangnan Group Limited

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Medium Voltage Wire and Cable Market, by Product Type (Market Size & Forecast: USD Million, 2023 – 2030)

   4.1. XLPE Cables

   4.2. EPR Cables

   4.3. PILC Cables

5. Medium Voltage Wire and Cable Market, by Voltage Rating (Market Size & Forecast: USD Million, 2023 – 2030)

   5.1. 1 kV–15 kV

   5.2. 16 kV–25 kV

   5.3. 26 kV–35 kV

6. Medium Voltage Wire and Cable Market, by End-User (Market Size & Forecast: USD Million, 2023 – 2030)

   6.1. Utilities

   6.2. Industrial Applications

   6.3. Commercial Establishments

7. Medium Voltage Wire and Cable Market, by Installation Type (Market Size & Forecast: USD Million, 2023 – 2030)

   7.1. Overhead

   7.2. Underground

   7.3. Submarine

   7.4. 

8. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030)

   8.1. Regional Overview

   8.2. North America

      8.2.1. Regional Trends & Growth Drivers

      8.2.2. Barriers & Challenges

      8.2.3. Opportunities

      8.2.4. Factor Impact Analysis

      8.2.5. Technology Trends

      8.2.6. North America Medium Voltage Wire and Cable Market, by Product Type

      8.2.7. North America Medium Voltage Wire and Cable Market, by Voltage Rating

      8.2.8. North America Medium Voltage Wire and Cable Market, by End-User

      8.2.9. North America Medium Voltage Wire and Cable Market, by Installation Type

      8.2.10. By Country

         8.2.10.1. US

               8.2.10.1.1. US Medium Voltage Wire and Cable Market, by Product Type

               8.2.10.1.2. US Medium Voltage Wire and Cable Market, by Voltage Rating

               8.2.10.1.3. US Medium Voltage Wire and Cable Market, by End-User

               8.2.10.1.4. US Medium Voltage Wire and Cable Market, by Installation Type

         8.2.10.2. Canada

         8.2.10.3. Mexico

    *Similar segmentation will be provided for each region and country

   8.3. Europe

   8.4. Asia-Pacific

   8.5. Latin America

   8.6. Middle East & Africa

9. Competitive Landscape

   9.1. Overview of the Key Players

   9.2. Competitive Ecosystem

      9.2.1. Level of Fragmentation

      9.2.2. Market Consolidation

      9.2.3. Product Innovation

   9.3. Company Share Analysis

   9.4. Company Benchmarking Matrix

      9.4.1. Strategic Overview

      9.4.2. Product Innovations

   9.5. Start-up Ecosystem

   9.6. Strategic Competitive Insights/ Customer Imperatives

   9.7. ESG Matrix/ Sustainability Matrix

   9.8. Manufacturing Network

      9.8.1. Locations

      9.8.2. Supply Chain and Logistics

      9.8.3. Product Flexibility/Customization

      9.8.4. Digital Transformation and Connectivity

      9.8.5. Environmental and Regulatory Compliance

   9.9. Technology Readiness Level Matrix

   9.10. Technology Maturity Curve

   9.11. Buying Criteria

10. Company Profiles

   10.1. Prysmian Group

      10.1.1. Company Overview

      10.1.2. Company Financials

      10.1.3. Product/Service Portfolio

      10.1.4. Recent Developments

      10.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   10.2. Nexans SA

   10.3. General Cable (Prysmian Group)

   10.4. Southwire Company, LLC

   10.5. LS Cable & System Ltd.

   10.6. Sumitomo Electric Industries, Ltd.

   10.7. Furukawa Electric Co., Ltd.

   10.8. Encore Wire Corporation

   10.9. Hengtong Group

   10.10. KEI Industries Limited

   10.11. Riyadh Cables Group Company

   10.12. TPC Wire & Cable Corp.

   10.13. Finolex Cables Ltd.

   10.14. Tratos Group

   10.15. Jiangnan Group Limited

11. Appendix

A comprehensive market research approach was employed to gather and analyze data on the Medium Voltage Wire and Cable Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Medium Voltage Wire and Cable Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Medium Voltage Wire and Cable Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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