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North America Medium Voltage Cables Market Report and Forecast 2024-2032

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    Report

  • 188 Pages
  • July 2024
  • Region: North America
  • Expert Market Research
  • ID: 5990228
According to the report, the North America medium voltage cables market size is projected to grow at a CAGR of 4.50% between 2024 and 2032. Aided by the growing industrial activities and surging infrastructural development in the United States and Canada, the market is expected to significantly grow by 2032.

Medium voltage cables, typically rated between 1kV and 35kV, are crucial components in the power distribution network. They are widely used in residential, commercial, and industrial sectors for transmitting electricity over medium distances. These cables are designed to ensure high efficiency, reliability, and safety, making them indispensable for modern electrical infrastructure.

The increasing demand for reliable and efficient power transmission and distribution systems is driving the North America medium voltage cables market growth. With the growing urbanisation and industrialisation in the region, there has been a significant rise in the consumption of electricity, necessitating the expansion and upgrade of power infrastructure. Additionally, the rising investments in renewable energy projects, such as wind and solar power, have further contributed to the increasing demand for medium-voltage cables, which are essential for connecting renewable energy sources to the grid.

The ongoing infrastructure development and modernisation initiatives across the region play a significant role in propelling the North America medium voltage cables market expansion. Governments and private sector entities are investing heavily in upgrading ageing electrical infrastructure to improve reliability and efficiency. This includes the replacement of old and outdated cables with modern medium-voltage cables that offer better performance and longevity.

The United States holds a significant share of the market, driven by the high consumption of electricity and the continuous need for infrastructure development. The country's focus on renewable energy projects and smart grid technology supports the North America medium voltage cables market development.

The Canada medium voltage cables market is characterised by increasing investments in renewable energy and the modernisation of power infrastructure. The demand for reliable power transmission and distribution systems in remote and rural areas also contributes to the market growth.

Companies are increasingly focusing on developing advanced cable technologies, such as high-temperature superconducting cables and self-healing cables, to meet the evolving needs of the power sector. With the growing emphasis on sustainability, manufacturers are adopting eco-friendly production practices and sourcing sustainable raw materials for medium-voltage cable production. To meet the rising demand, companies in the North America medium voltage cables market are expanding their production capacities and establishing new facilities in strategic locations across North America.

Innovations in cable materials, such as the use of cross-linked polyethylene (XLPE) and ethylene propylene rubber (EPR), are enhancing the performance and durability of medium-voltage cables. These materials provide better insulation, thermal resistance, and longevity. The development and deployment of high-temperature superconducting (HTS) cables are emerging as a key trend in the market. These cables offer higher efficiency and can carry more current than conventional cables, making them ideal for high-demand applications.

As per the North America medium voltage cables market analysis, the growing focus on renewable energy sources, such as wind and solar power, presents significant growth opportunities for the market. These cables are essential for connecting renewable energy installations to the grid. The adoption of smart grid technology, which involves the use of digital communication and automation to enhance the efficiency and reliability of power distribution, creates opportunities for medium voltage cable manufacturers to provide advanced solutions. The rising urbanisation and industrialisation in emerging regions, such as parts of Canada, further offer significant growth opportunities for the market.

Market Segmentation

The North America Medium Voltage Cables market can be divided based on installation, components, voltage, application, and country.

Market Breakup by Installation

  • Underground
  • Submarine
  • Overhead

Market Breakup by Components

  • Termination Cables
  • Joints
  • XLPE Cables
  • Others

Market Breakup by Voltage

  • 1 kV - 15 kV
  • 16 kV - 35 kV
  • 36 kV - 70 kV
  • Others

Market Breakup by Application

  • Industrial
  • Infrastructure
  • Renewable Energy
  • Others

Market Breakup by Region

  • United States
  • Canada

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America medium voltage cables market. Some of the major players explored in the report are as follows:
  • Southwire Company, LLC.
  • LS Cable & System Ltd.
  • Sumitomo Electric Industries, Ltd.
  • TPC Wire and Cable Corporation
  • NXT A/S
  • Nexans S.A.
  • Prysmian S.p.A.
  • CME Wire and Cable, Inc.
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot7 Opportunities and Challenges in the Market
8 North America Medium Voltage Cables Market Overview
8.1 Key Industry Highlights
8.2 Unites States Medium Voltage Cables Historical Market (2018-2023)
8.3 Unites States Medium Voltage Cables Market Forecast (2024-2032)
9 North America Medium Voltage Cables Market by Installation
9.1 Underground
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Submarine
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Overhead
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
10 North America Medium Voltage Cables Market by Components
10.1 Termination Cables
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Joints
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 XLPE Cables
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 North America Medium Voltage Cables Market by Voltage
11.1 1 kV - 15 kV
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 16 kV - 35 kV
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 36 kV - 70 kV
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 North America Medium Voltage Cables Market by Application
12.1 Industrial
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.1.3 Breakup by Type
12.1.3.1 Oil and Gas
12.1.3.2 Metals and Mining
12.1.3.3 Chemicals and Petrochemicals
12.1.3.4 Cement and Manufacturing
12.1.3.5 Utilities
12.2 Infrastructure
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.2.3 Breakup by Type
12.2.3.1 Infrastructure
12.2.3.2 Commercial and Residential
12.3 Renewable Energy
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 North America Medium Voltage Cables Market by Country
13.1 United States
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Canada
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Southwire Company, LLC.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 LS Cable & System Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Sumitomo Electric Industries, Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 TPC Wire and Cable Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 NKT A/S
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Nexans S.A.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Prysmian S.p.A.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 CME Wire and Cable, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Medium Voltage Cables Market: Key Industry Highlights, 2018 and 2032
2. North America Medium Voltage Cables Market: Key Industry Highlights, 2018 and 2032
3. North America Medium Voltage Cables Historical Market: Breakup by Installation (USD Million), 2018-2023
4. North America Medium Voltage Cables Market Forecast: Breakup by Installation (USD Million), 2024-2032
5. North America Medium Voltage Cables Historical Market: Breakup by Components (USD Million), 2018-2023
6. North America Medium Voltage Cables Market Forecast: Breakup by Components (USD Million), 2024-2032
7. North America Medium Voltage Cables Historical Market: Breakup by Voltage (USD Million), 2018-2023
8. North America Medium Voltage Cables Market Forecast: Breakup by Voltage (USD Million), 2024-2032
9. North America Medium Voltage Cables Historical Market: Breakup by Application (USD Million), 2018-2023
10. North America Medium Voltage Cables Market Forecast: Breakup by Application (USD Million), 2024-2032
11. North America Medium Voltage Cables Market Structure

Companies Mentioned

  • Southwire Company LLC.
  • LS Cable & System Ltd.
  • Sumitomo Electric Industries Ltd.
  • TPC Wire and Cable Corporation
  • NXT A/S
  • Nexans S.A.
  • Prysmian S.p.A.
  • CME Wire and Cable Inc.

Methodology

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Table Information