Medium Voltage Cables & Accessories Market - Forecast to 2021 - New Study Released
Fast Market Research recommends "Medium Voltage Cables & Accessories Market - Forecast to 2021" from Markets and Markets, now available
[ClickPress, Tue Jul 05 2016] Medium Voltage Cables & Accessories Market by Overhead (Conductors, Fittings & Fixtures), Underground & Submarine (MI Cables, XLPE Cables, Cable Terminations, Cable Joints), End-User (Infrastructure, Industrial, Renewables), & by Region - Forecast to 2021
The medium voltage cables & accessories market is expected to reach a value of USD 51.24 billion by 2021, at a CAGR of 6.4% from 2016 to 2021. Increase in renewable energy generation, rapid industrialization & urbanization, and government initiatives undertaken to expand T&D systems would drive the medium voltage cables & accessories market.
"Utility sector to dominate the medium voltage cables & accessories market within the Industrial end-user during the forecast period"
The utility sector represents the electrical infrastructure of a country, and includes the generation, transmission, and distribution of electric power. Developed countries are expected to focus their utility investments towards the refurbishment and upgradation of grid infrastructure. The emerging economies, on the other hand, are expected spend their utility investments primarily towards expansion of utility infrastructure. Increasing investments in the utility sector is expected to increase the requirement for equipment used in grid infrastructure, such as power cables, transformers, and insulators. Furthermore, inclusion of progressive technologies, such as co-generation and combined generation in this sector, is further expected to boost the growth of the medium voltage cables & accessories market.
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"Wind sector within renewables end-user to hold the major share of the medium voltage cables & accessories market during the forecast period"
Globally, the capacity of wind energy is expected to reach around 792.1 GW by 2020. This capacity is further expected to reach nearly 2,000 GW by 2030, contributing approximately 19% to the global electricity generation. The global investments in wind energy are expected to reach USD 414.85 million by 2030. These investments will lead to the installation of nearly 76,000 grid-connected turbines worldwide by 2030. This is expected to boost the demand for medium voltage cables used to connect the generated wind power to the grid.
Breakdown of Primaries:
Distribution of primary interviews is as follows:
* By Company Type: Tier 1- 56%, Tier2-24%, and Tier 20%
* By Designation: C-Level-50%, Director Level-31%, and Others*-19%
* By Region: Europe:30-%, North America:- 20%, Latin America: 20%, Middle East & Africa: 20%, and RoW: 10%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies has been defined on the basis of their total revenue, as of 2013: Tier 1 =>USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
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