The global medium voltage cable accessories market was valued at $16.82 billion in 2019, and is projected to reach $22.15 billion by 2027, registering a CAGR of 5.40% from 2020 to 2027. Medium voltage cable accessories range from 3.3kV to 33kV. These cable accessories are specially designed for stress control mechanism for enhanced product performance and to maintain high network reliability. Medium voltage cable accessories are an integral part of any electricity distribution network, performing similar basic functions as that of medium voltage cables for which they are installed. Some of the critical factors considered for designing medium voltage cable accessories are insulation material, control of electric stress, protection from environment, and cable connection.

The medium voltage cable accessories industry is expected to witness growth during the forecast period, owing to extensive investments in the construction sector for infrastructural development. The market for global medium voltage cable accessories is expected to be driven by increasing investments by governments to develop smart electricity girds that fulfill the exponentially increasing demand for electricity.

Moreover, surge in installation of underground cables boost the demand for medium voltage cable accessories. Considering these factors, the global medium voltage cable accessories market is estimated to experience a steady growth in the future.

Surge in focus on harnessing renewable sources of energy and rise in industrialization are some of the other drivers for the global medium voltage cable accessories market growth. However, high failure rate of medium voltage cable accessories acts as a major restraint for the market growth. Furthermore, rise in use of e-mobility and surge in number of data centers provide lucrative opportunities for the global medium voltage cable accessories market. 

Emergence of COVID-19 has declined growth rate of the market in 2020, and the market is estimated to witness slow growth by the end of 2021. The market was primarily hit by several obstacles created amid the COVID-19 pandemic for the construction industry including availability of resources, health and safety measures, deliverables, contractual obligations, and project delays or cancellations.

              Medium Voltage Cable Accessories Market

Cable joints & splice segment is projected as one of the most lucrative segments.

The medium voltage cable accessories market is analyzed by product type, technology, installation, and industry vertical. On the basis of product type, it is fragmented into cable joints & splice, connectors, terminations, and other product types. The cable joints & splice segment dominated the market, in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. On the basis of technology, the market is segregated into heat shrink, cold shrink, and pre-molded terminations. The heat shrink segment dominated the market, in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. 

By installation, the market is analyzed on overhead, underground, and submarine. The overhead segment dominated the market in terms of revenue in 2019, however, the submarine segment is estimated to witness high growth rate during the forecast period. By industry vertical, the market is divided into railways, construction, private utilities, cement, marine, government utilities, oil & gas, healthcare, fertilizer, steel, and others. The government utilities segment accounted for the highest market share in 2019, and the construction segment is expected to grow at a high CAGR from 2020 to 2027. Based on region, the global medium voltage cable accessories market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Medium Voltage Cable Accessories Market

Overhead segment is expected to secure leading position during forecast period.

Get more information on this report : Request Sample Pages

Top Impacting Factors

Significant impacting factors in the global medium voltage cable accessories market include increase in investment in infrastructural development, growth of construction sector, and rise in adoption of renewable sources of energy. However, high failure rate of heat shrink cable accessories is expected to hinder the market growth. Conversely, emergence of e-mobility, industrialization, development of smart cities, increase in government initiatives, and surge in number of data centers is projected to offer remunerative opportunities to the global medium voltage cable accessories market. Each of these factors is anticipated to have a definite impact on the market during the forecast period.

Competition Analysis

  Competitive analysis and overview of major global medium voltage cable accessories market participants, such as NKS Power Co., Ltd., 3M, Compaq International (P) Limited, Nexans, NKT A/S, Phoenix Technology Group Co., Ltd., Raychem AG, REPL International Limited, Sumitomo Electric USA, Inc., TE Connectivity, and Yamuna Infra & Technology Pvt. Co., Ltd. provide in this report.   

 Medium Voltage Cable Accessories Market

During 2020-2027, the Asia-Pacific region will have the highest compound annual growth rate, reaching 5.9%

Among them, NKS Powes Co., Ltd., as a long-established manufacturer of medium voltage cable accessories in China, not only sells its products to more than 30 countries in the world, but its preferential prices are also very competitive. As a company that has been developing for 20 years, this is very important. difficult! Because of this, his products are quickly occupying overseas markets