According to our latest study on "Medium Voltage Cable Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Installation, Voltage and End User" the Medium Voltage Cable market size was valued at US$ 26.24 billion in 2024 and is expected to reach US$ 41.28 billion by 2031; it is estimated to record a CAGR of 6.9% from 2025 to 2031.

The Medium Voltage Cable market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2024, followed by North America.

The MEA includes South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The countries in the region are expecting to attract large foreign investments in their infrastructure and construction industries. Due to a strong development agenda and focus on industrial, energy infrastructure, and transportation, the UAE aims to attract ~US$ 150 billion in foreign direct investment (FDI) by 2030, fueling the growth in the country's construction sector. Similarly, the construction industry in Saudi Arabia is expected to register a CAGR of 5.6% from 2022 to 2027 due to the surging government spending on infrastructural projects, such as roads, railways, airports, power plants, and housing. Thus, the growth of the construction industry in the region boosts the demand for medium voltage cable to provide an uninterrupted power supply in the coming years.

The oil & gas sector consists of exploration and production activities that require an uninterrupted supply of power, raising the demand for medium voltage cables in the region. According to the General Authority for Statistics (GASTAT), oil activities increased to 23.1% in Q2 of 2022 from 20.3% in Q1 of 2022. As per Abu Dhabi National Oil Company (ADNOC), the UAE's hydrocarbon reserves increased by 2 billion stock tank barrels (STB) of oil and 1 trillion standard cubic feet (TSCF) of natural gas in 2022.

According to ITA, the UAE ranks among the world's 10 largest oil producers. Abu Dhabi, which ranks sixth in the world, contains nearly 96% of the country's estimated 100 billion barrels of known oil reserves. The UAE produces ~3.2 million barrels of petroleum and liquids per day. Abu Dhabi National Oil Company (ADNOC) intends to expand its upstream crude production through concession agreements for new exploration and production. In March 2022, ADNOC issued framework agreements totaling US$ 658 million to expand drilling operations and crude oil production capacity. In November 2022, ADNOC announced a plan to invest US$ 150 billion through 2027 to increase oil and gas production capacity by raising crude output capacity to 5 million barrels per day by 2027. Thus, such large-scale oil and gas exploration activities fuel the growth of the market in the UAE.

Key Findings of Medium Voltage Cable Market Study:

Based on Voltage, the market is segmented into 6 to 13 KV, 23 KV, 34 KV, 45 KV, 69 KV, and 1 to 5 KV. The 6 to 13 KV segment held the largest share of the medium voltage cable market in 2024. The 6 to 13 kV range of cable is used in the electricity supply system for distribution. Several players across the globe provide a 6 to 13 kV range of cable. The Eland Cables Ltd company provides BS 6622 XLPE PVC 6.35/11 (12) kV cable, which is used as a power cable for underground power networks and has a voltage rating of 6.35/11 (12) kV. Further, the 6 to 13 kV cables are used in several power distribution projects. For instance, in April 2023, the Bangalore Electricity Supply Company (BESCOM) completed 95% of underground high-tension cable installation; out of the targeted 7,066 km of underground 11kV cabling, 6,673.45 km of underground cabling has been completed.

Medium voltage cables are used to transfer power from substations to transformers, motors, and other machinery. The cables transfer power to motors, machines, and other equipment in industrial plants. Additionally, they are utilized to link transformers and other plant machinery. It can also transmit power to far-off areas, including mines, oil and gas rigs, and construction sites. Thus, with the growing application, several players are taking the initiative to develop medium-voltage cables and accessories. For instance, in August 2023, RFL Group launched a new product category of medium-voltage power cables for its well-known cable brand- Bizli Cables. The demand for strong MV cables to accommodate larger power requirements and assure the reliability of production processes is rising with the growing industrialization. Furthermore, the emphasis on sustainable operations in many industrial settings is increasing demand for high-quality cables that save energy and reduce operational downtime.

ABB Ltd; Prysmian SpA; Nexans SA; TE Connectivity Ltd; Southwire Company LLC; Houston Wire & Cable Co.; Belden Inc; LS Cable & System USA; Ensto Oy; NKT AS; The Okonite Co; Sumitomo Electric Industries Ltd; 3M Co; Eaton Corp Plc; and Hitachi Energy Ltd are among the key players profiled in the Medium Voltage Cable market report. Several other major players were studied and analyzed during the Medium Voltage Cable market analysis to get a holistic view of the market and its ecosystem. The Medium Voltage Cable market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current Medium Voltage Cable market trends and their foreseeable impact during the forecast period.

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