According to TechSci Research report, “Medium Voltage Cable Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F, The Global Medium Voltage Cable Market was valued at USD 51.6 billion in 2024 and is expected to reach USD 70.6 billion by 2030 with a CAGR of 5.2% through 2030. One of the major factors is the rapid increase in electrification projects across rural and remote regions, especially in emerging economies. Governments are launching large-scale electrification initiatives to enhance energy access, which is significantly increasing the demand for MV cables in transmission and distribution networks.
Another critical driver is the modernization of aging power infrastructure in developed regions like North America and Europe. As older cable networks require replacement and upgrades to support higher loads and digital connectivity, the need for efficient MV cable systems is rising. The proliferation of data centers, electric vehicles (EVs), and charging infrastructure is also contributing to market growth, as these applications require reliable medium voltage systems for consistent power delivery.
Moreover, industrial automation and the expansion of manufacturing facilities globally are creating higher energy requirements, pushing demand for MV cables across heavy industries, refineries, and processing plants. Technological advancements, such as the development of eco-friendly cables with higher thermal performance and lower environmental impact, are also encouraging wider adoption. Together, these factors are strengthening the global MV cable market outlook beyond traditional energy investments.
Based on Product, Joints segment dominated the Medium Voltage Cable Market in 2024 and maintain its leadership throughout the forecast period, Joints are essential components used to connect two or more cable ends together, enabling continuous and reliable electrical transmission over long distances. Their widespread use across utility, industrial, and commercial applications makes them critical to the efficiency and safety of MV cable networks. As the demand for medium voltage cables grows globally—driven by grid modernization, renewable energy projects, and urban infrastructure development—the need for durable and high-performance cable joints is also increasing substantially.
Joints are especially vital in underground and submarine cable systems, where the reliability of the connection must be exceptionally high due to the difficulty and cost associated with accessing and maintaining these installations. In such applications, joints must ensure mechanical strength, electrical insulation, and protection against environmental factors such as moisture, chemicals, and temperature fluctuations. Advancements in jointing technologies, including the use of pre-molded, heat-shrink, and cold-shrink joint solutions, have made installations faster, safer, and more reliable, further supporting the segment’s growth.
One of the key drivers behind the dominance of the joints segment is the rising number of retrofitting and grid upgrade projects in both developed and developing economies. Aging electrical infrastructure in regions like North America and Europe requires frequent cable replacement and reconnection, which boosts the demand for joints. Similarly, in rapidly urbanizing regions such as Asia-Pacific and Africa, expanding transmission and distribution networks require extensive jointing work to support new construction and rural electrification efforts. The high adaptability of joints to different types of cables and voltage ranges adds to their widespread application.
Download Free Sample Report
https://www.techsciresearch.com/sample-report.aspx?cid=30077
Customers can also request for 10% free customization on this report.
Additionally, the increasing complexity of cable routes in modern urban and industrial environments—where space is limited and routes are non-linear—necessitates frequent cable jointing. This has led to innovations in joint design, focusing on compactness, ease of installation, and long-term performance. The demand is further fueled by the growing deployment of renewable energy systems, such as wind farms and solar parks, where medium voltage cables and joints are essential to connect various components to substations and the main grid.
The joints segment continues to dominate the medium voltage cable market due to its indispensable role in connecting cable networks across a wide range of applications. Its growth is underpinned by infrastructure development, grid modernization, and technological advancements in cable accessories. As the global focus on efficient and resilient power delivery systems intensifies, the demand for high-quality joints will remain a central pillar of the MV cable industry
Asia Pacific is emerging as the fastest-growing region for the Medium Voltage Cable Market, driven by rapid industrialization, urbanization, and substantial investments in power infrastructure. Countries such as China, India, Japan, South Korea, and several Southeast Asian nations are witnessing a surge in electricity demand due to expanding manufacturing bases, rising populations, and growing urban centers. This rising energy demand is leading to large-scale development and upgrading of transmission and distribution networks, where medium voltage cables play a critical role.
Governments across the region are actively investing in renewable energy projects—such as solar parks and wind farms—which require extensive MV cable networks for grid integration. For example, India’s "Green Energy Corridor" project and China’s aggressive renewable expansion strategy both heavily rely on MV cables for connecting renewable energy sources to substations and urban areas. Additionally, national electrification programs aimed at improving rural access to electricity are further boosting the demand for medium voltage cables and accessories.
Infrastructure development, particularly in smart cities, industrial parks, and transportation networks, also contributes significantly to regional MV cable consumption. Moreover, international companies are increasingly investing in Asia Pacific to establish cable manufacturing facilities, taking advantage of lower production costs and proximity to high-growth markets.
The region’s dynamic growth is supported by favorable government policies, public-private partnerships, and a robust construction sector. As countries in Asia Pacific continue to prioritize energy reliability, grid stability, and sustainability, the demand for medium voltage cables is expected to grow at a strong pace, making the region a central driver of global market expansion.
Key market players in the Medium Voltage Cable Market are: -
Prysmian Group
Nexans S.A.
Southwire Company, LLC
General Cable Technologies Corporation
LS Cable & System Ltd.
Sumitomo Electric Industries, Ltd.
Dubai Cable Company (Pvt) Ltd. (Ducab)
TF Kable Group (Tele-Fonika Kable S.A.)
Download Free Sample Report
https://www.techsciresearch.com/sample-report.aspx?cid=30077
Customers can also request for 10% free customization on this report.
“The global Medium Voltage Cable Market presents significant opportunities driven by increasing investments in renewable energy, smart grid development, and urban infrastructure expansion. Rising demand for reliable and efficient power transmission in emerging economies offers growth potential for cable manufacturers and solution providers. Technological advancements, such as smart cables with real-time monitoring, are creating new market segments.
Additionally, government initiatives for rural electrification and energy transition in regions like Asia-Pacific, Africa, and Latin America are accelerating cable deployment. Expansion in data centers, EV infrastructure, and industrial automation further boosts medium voltage cable demand, positioning the market for strong long-term growth.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“Medium Voltage Cable Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Termination Cables, Joints, Cross-Linked Polyethylene (XLPE) Cables, Other), By Installation (Underground, Submarine, Overhead), By Application (Industrial, Commercial, Utility), By Region, By Competition, 2020-2030F” has evaluated the future growth potential of Medium Voltage Cable Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Medium Voltage Cable Market.
Contact
TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States- 10170
M: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com
