Medium Voltage Wire And Cable Market

ID: MRFR/E&P/28027-HCR

128 Pages

Priya Nagrale

October 2025

Medium Voltage Wire And Cable Market Research Report By Insulation Material (Polyvinyl Chloride (PVC), Cross-Linked Polyethylene (XLPE), Ethylene Propylene Rubber (EPR), Polypropylene (PP), Others), By Voltage Rating (1 kV to 5 kV, 6 kV to 11 kV, 12 kV to 33 kV, 34 kV to 69 kV, 70 kV to 150 kV), By Application (Power Distribution, Industrial Infrastructure, Commercial Buildings, Renewable Energy Projects, Others), By Construction Type (Overhead Cables, Underground Cables, Submarine Cables), By Conductor Material (Copper, Aluminum, Copper-Cla...

Medium Voltage Wire And Cable Market
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Summary Table of Contents Segmentation Download PDF

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Medium Voltage Wire And Cable Market Summary

The Global Medium Voltage Wire and Cable Market is projected to grow from 14.71 USD Billion in 2024 to 23.17 USD Billion by 2035.

Key Market Trends & Highlights

Medium Voltage Wire And Cable Key Trends and Highlights

The market is expected to witness a compound annual growth rate (CAGR) of 4.22 percent from 2025 to 2035.
By 2035, the market valuation is anticipated to reach 23.2 USD Billion, indicating robust growth potential.
in 2024, the market is valued at 14.71 USD Billion, reflecting a solid foundation for future expansion.
Growing adoption of renewable energy sources due to increasing environmental regulations is a major market driver.

Medium Voltage Wire And Cable Market

CAGR

4.22%

Market Size & Forecast

2024 Market Size	14.71 (USD Billion)
2035 Market Size	23.17 (USD Billion)
CAGR (2025-2035)	4.22%

Major Players

Prysmian Group, Nexans, NKT, LS Cable & System, Sumitomo Electric Industries, Mitsubishi Electric, Hitachi Cable, Huber+Suhner, Fujikura, Southwire, Kabelwerke Brugg, 3M, The Sandon Global Corporation, General Cable, Furukawa Electric

Medium Voltage Wire And Cable Market Trends

The global medium voltage wire and cable market is characterized by a convergence of technological advancements and rising demand from various industries. Key market drivers include the growing adoption of renewable energy sources, expanding smart grid infrastructure, and urbanization in developing regions. As economies prioritize sustainable energy solutions, the transition to electric vehicles and distributed generation systems is driving demand for medium-voltage cables. The proliferation of data centers and hyperscale computing facilities is also fueling the need for reliable and efficient power distribution solutions.

Opportunities for market growth lie in the development of innovative cable designs, such as low-smoke zero-halogen (LSZH) and fire-resistant cables, to meet stringent safety regulations. Recent trends include the increasing use of advanced materials like cross-linked polyethylene (XLPE) and ethylene propylene rubber (EPR) for enhanced insulation and durability. The growing adoption of smart cables with integrated sensors and monitoring capabilities is also gaining traction, enabling real-time monitoring and predictive maintenance of electrical systems.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

The ongoing transition towards renewable energy sources is expected to drive the demand for medium voltage wire and cable solutions, as they play a crucial role in the efficient distribution of electricity.

U.S. Department of Energy

Medium Voltage Wire And Cable Market Drivers

Rising Demand for Renewable Energy

The Global Medium Voltage Wire And Cable Market Industry experiences a notable surge in demand due to the increasing focus on renewable energy sources. Governments worldwide are investing heavily in solar and wind energy projects, which require robust medium voltage cables for efficient energy transmission. For instance, the global market is projected to reach 14.7 USD Billion in 2024, driven by the need for infrastructure that supports these energy initiatives. This trend indicates a shift towards sustainable energy solutions, which could potentially enhance the market's growth trajectory as more countries commit to reducing carbon emissions.

Market Segment Insights

Medium Voltage Wire And Cable Market Segment Insights:

Medium Voltage Wire And Cable Market Insulation Material Insights

The insulation material segment plays a crucial role in the global Medium Voltage Wire And Cable Market, influencing its performance, safety, and applications. Among the key insulation materials used in medium voltage cables, Polyvinyl Chloride (PVC) holds a significant market share due to its cost-effectiveness, ease of installation, and flame-retardant properties. In 2023, the PVC insulation segment was valued at approximately USD 3.2 billion and is projected to reach USD 4.4 billion by 2032, exhibiting a steady growth rate of 4.1%.

Cross-Linked Polyethylene (XLPE) is another widely adopted insulation material, particularly in high-voltage applications.Its superior electrical properties, resistance to moisture and chemicals, and enhanced durability contribute to its growing popularity. The XLPE insulation segment is estimated to be worth USD 2.7 billion in 2023 and is anticipated to expand at a CAGR of 4.6%, reaching USD 3.8 billion by 2032. Ethylene Propylene Rubber (EPR) is another notable insulation material known for its flexibility, high-temperature resistance, and ozone resistance.

The EPR insulation segment is expected to grow steadily at a CAGR of 3.9%, from USD 2.1 billion in 2023 to USD 3 billion by 2032.Polypropylene (PP) insulation, characterized by its lightweight, low moisture absorption, and good electrical properties, is also gaining traction in the market. However, they cater to specific applications requiring specialized properties, such as high-temperature resistance or flexibility. The "Others" insulation segment is expected to grow at a moderate pace, contributing to the overall expansion of the global Medium Voltage Wire And Cable Market.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Medium Voltage Wire And Cable Market Voltage Rating Insights

The Global Medium Voltage Wire And Cable Market is segmented by voltage rating, with sub-segments including 1 kV to 5 kV, 6 kV to 11 kV, 12 kV to 33 kV, 34 kV to 69 kV, and 70 kV to 150 kV. The 12 kV to 33 kV segment held the largest market share in 2023, accounting for over 40% of the Global Medium Voltage Wire And Cable Market revenue. This is due to the increasing demand for medium-voltage cables for power distribution and transmission in various industries, such as utilities, construction, and manufacturing.

The 34 kV to 69 kV segment is expected to grow at a significant rate during the forecast period, owing to the increasing adoption of medium voltage cables for renewable energy projects, such as solar and wind farms.The growth in the Global Medium Voltage Wire And Cable Market is attributed to factors such as rising investments in infrastructure development, growing demand for electricity, and increasing adoption of renewable energy sources. The market is expected to continue growing at a steady pace in the coming years, driven by the increasing demand for reliable and efficient power transmission and distribution solutions.

Medium Voltage Wire And Cable Market Application Insights

The Application segment is a crucial part of the Global Medium Voltage Wire And Cable Market market segmentation. It categorizes the market based on the various applications where medium voltage wires and cables are utilized. Key applications in this segment include power infrastructure, industrial infrastructure, commercial buildings, renewable energy projects and others segment.

Power Distribution: This is a major application, accounting for a significant share of the Global Medium Voltage Wire And Cable Market revenue in 2023. Medium voltage cables are essential for distributing electricity from power plants to residential, commercial, and industrial areas.Industrial Infrastructure: Medium voltage wires and cables play a vital role in powering various industrial facilities, including manufacturing plants, mining operations, and data centers. The growing demand for industrial automation and electrification is driving the growth of this application segment.

Commercial Buildings: High-rise buildings, shopping malls, and other commercial complexes require reliable power supply, which is facilitated by medium voltage cables. This application segment is expected to witness steady growth in the coming years.Renewable Energy Projects: The increasing adoption of renewable energy sources, such as solar and wind power, is creating new opportunities for the Global Medium Voltage Wire And Cable Market. Medium voltage cables are used to connect renewable energy generators to the grid and transmit electricity over long distances.

Others: This category includes a variety of niche applications, such as transportation, marine, and oil and gas industries. The demand for medium voltage wire and cables in these applications is expected to remain stable in the future.The Global Medium Voltage Wire And Cable Market data indicate that the Power Distribution application segment held the largest market share in 2023, followed by Industrial Infrastructure. Renewable Energy Projects are projected to be the fastest-growing application segment during the forecast period, driven by the increasing adoption of renewable energy sources worldwide.

Medium Voltage Wire And Cable Market Construction Type Insights

Underground Cables segment dominated the Global Medium Voltage Wire And Cable Market in 2023, accounting for nearly 40% of the market revenue. The growth of this segment can be attributed to the increasing demand for underground power transmission and distribution systems due to their reliability, safety, and reduced environmental impact. Overhead Cables segment is expected to witness significant growth over the forecast period, owing to the increasing demand for overhead power transmission lines in remote and rural areas.

Submarine Cables segment is anticipated to grow at a steady pace, driven by the growing demand for offshore wind farms and subsea interconnections.

Medium Voltage Wire And Cable Market Conductor Material Insights

The Conductor Material segment plays a crucial role in shaping the dynamics of the Global Medium Voltage Wire And Cable Market. Among the key materials used in this segment, Copper holds a dominant position, accounting for a significant share of the market revenue in 2023. Its exceptional electrical conductivity and resistance to corrosion make it an ideal choice for medium-voltage applications. Aluminum, known for its lightweight and cost-effectiveness, is gaining traction as a viable alternative to Copper.

Copper-Clad Aluminum (CCA) offers a balance between the advantages of both Copper and Aluminum, providing a cost-effective solution with improved conductivity.Other materials, such as steel and alloys, cater to specific applications requiring enhanced mechanical strength or resistance to extreme temperatures. The Global Medium Voltage Wire And Cable Market is projected to witness consistent growth in the coming years, driven by increasing demand for reliable and efficient power transmission and distribution solutions. As industries and infrastructure continue to expand, the need for medium-voltage cables will remain robust, further bolstering the growth of the Conductor Material segment.

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Regional Insights

The regional segmentation of the Global Medium Voltage Wire And Cable Market offers valuable insights into the market dynamics and growth potential across different geographic regions. North America holds a significant share of the market due to the presence of well-established infrastructure and increasing demand from the construction and energy sectors. Europe follows closely, driven by the stringent regulations and standards for electrical safety and energy efficiency.

The APAC region is projected to witness substantial growth in the coming years, owing to rapid urbanization, industrialization, and government initiatives to improve power transmission and distribution networks.South America and MEA are also expected to contribute to the market growth, albeit at a slower pace, as these regions continue to invest in infrastructure development and electrification projects.

Medium Voltage Wire And Cable Market Regional Insights

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Key Players and Competitive Insights

Major players in the Medium Voltage Wire And Cable Market industry are constantly engaged in research and development to create technologically advanced products that meet the evolving needs of customers. Leading Medium Voltage Wire And Cable Market players are focusing on expanding their global presence and strengthening their distribution networks to cater to a wider customer base. The Medium Voltage Wire And Cable Market is highly competitive, with a large number of both domestic and international players vying for market share.

Some of the key players in the Medium Voltage Wire And Cable Market include Prysmian Group, Nexans, NKT, LS Cable & System, and Sumitomo Electric Industries. These companies are continuously investing in research and development to improve their product offerings and gain a competitive edge in the market.Nexans is a leading player in the Medium Voltage Wire And Cable Market industry, with a strong global presence and a wide range of products. The company is known for its high-quality products and its commitment to innovation. Nexans has a strong focus on sustainability and is committed to reducing its environmental impact.

The company has a number of manufacturing facilities around the world and is well-positioned to meet the growing demand for medium-voltage wire and cable. Nexans has a strong track record of success in the Medium Voltage Wire And Cable Market and is well-positioned to continue to be a leading player in the years to come.LS Cable & System is another major player in the Medium Voltage Wire And Cable Market. The company is headquartered in South Korea and has a global presence. LS Cable & System is known for its high-quality products and its focus on innovation.

The company has a strong research and development team and is constantly developing new products to meet the needs of its customers. LS Cable & System has a strong track record of success in the Medium Voltage Wire And Cable Market and is well-positioned to continue to be a leading player in the years to come.

Key Companies in the Medium Voltage Wire And Cable Market market include

Industry Developments

Q2 2024: Prysmian Group to build new cable plant in the US to support energy transition Prysmian Group announced the construction of a new manufacturing facility in the United States dedicated to producing medium and high voltage cables, aiming to support the growing demand for energy infrastructure and grid modernization.
Q2 2024: Nexans wins major contract to supply medium voltage cables for offshore wind project in the UK Nexans secured a contract to deliver medium voltage cables for a large-scale offshore wind farm in the United Kingdom, reinforcing its position in the renewable energy sector.
Q2 2024: Sumitomo Electric to expand medium voltage cable production capacity in Vietnam Sumitomo Electric Industries announced an investment to expand its manufacturing capacity for medium voltage cables at its facility in Vietnam, targeting increased demand in Southeast Asia.
Q3 2024: NKT awarded contract for medium voltage cable supply to German grid operator NKT was awarded a contract to supply medium voltage cables to a German grid operator as part of a grid reinforcement project to improve electricity distribution reliability.
Q3 2024: Ducab Group opens new medium voltage cable plant in Abu Dhabi Ducab Group inaugurated a new manufacturing facility in Abu Dhabi focused on medium voltage cables, aiming to serve regional infrastructure and energy projects.
Q3 2024: Hellenic Cables secures contract for medium voltage cable supply to Greek utility Hellenic Cables announced it has secured a contract to supply medium voltage cables to a major Greek utility for grid modernization efforts.
Q4 2024: Prysmian Group launches new eco-friendly medium voltage cable line Prysmian Group introduced a new line of medium voltage cables with enhanced environmental performance, targeting utilities and renewable energy projects.
Q4 2024: Nexans partners with Enedis to develop smart medium voltage cable solutions Nexans announced a partnership with French utility Enedis to co-develop smart medium voltage cable solutions for digitalized grid management.
Q1 2025: Sumitomo Electric wins contract for medium voltage cable supply in India Sumitomo Electric Industries secured a contract to supply medium voltage cables for a major infrastructure project in India, supporting the country's grid expansion.
Q1 2025: NKT to supply medium voltage cables for Scandinavian data center project NKT announced it will supply medium voltage cables for a new data center project in Scandinavia, supporting the region's digital infrastructure growth.
Q2 2025: Ducab Group signs partnership with Saudi Electric Company for cable supply Ducab Group entered into a partnership with Saudi Electric Company to supply medium voltage cables for grid expansion projects in Saudi Arabia.
Q2 2025: Hellenic Cables to supply medium voltage cables for Cyprus interconnection project Hellenic Cables announced it will supply medium voltage cables for a new interconnection project in Cyprus, supporting cross-border electricity transmission.

Future Outlook

Medium Voltage Wire And Cable Market Future Outlook

The Global Medium Voltage Wire And Cable Market is projected to grow at a 4.22% CAGR from 2025 to 2035, driven by increasing demand for renewable energy and infrastructure development.

New opportunities lie in:

Invest in smart grid technologies to enhance energy efficiency and reliability.
Develop eco-friendly cable materials to meet sustainability regulations.
Expand into emerging markets with tailored solutions for local energy needs.

By 2035, the market is expected to exhibit robust growth, reflecting evolving energy demands and technological advancements.

Market Segmentation

Medium Voltage Wire And Cable Market Regional Outlook

North America
Europe
South America
Asia-Pacific
Middle East and Africa

Medium Voltage Wire And Cable Market Application Outlook

Power Distribution
Industrial Infrastructure
Commercial Buildings
Renewable Energy Projects
Others
Medium Voltage Wire And Cable Market Construction Type Outlook

Medium Voltage Wire And Cable Market Voltage Rating Outlook

1 kV to 5 kV
6 kV to 11 kV
12 kV to 33 kV
34 kV to 69 kV
70 kV to 150 kV
Medium Voltage Wire And Cable Market Application Outlook

Medium Voltage Wire And Cable Market Construction Type Outlook

Overhead Cables
Underground Cables
Submarine Cables
Medium Voltage Wire And Cable Market Conductor Material Outlook

Medium Voltage Wire And Cable Market Conductor Material Outlook

Copper
Aluminum
Copper-Clad Aluminum (CCA)
Others
Medium Voltage Wire And Cable Market Regional Outlook

Medium Voltage Wire And Cable Market Insulation Material Outlook

Polyvinyl Chloride (PVC)
Cross-Linked Polyethylene (XLPE)
Ethylene Propylene Rubber (EPR)
Polypropylene (PP)
Others
Medium Voltage Wire And Cable Market Voltage Rating Outlook

Report Scope

Report Attribute/Metric	Details
Market Size 2024	14.71 (USD Billion)
Market Size 2025	15.33 (USD Billion)
Market Size 2035	23.17 (USD Billion)
Compound Annual Growth Rate (CAGR)	4.22% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2023
Market Forecast Units	USD Billion
Key Companies Profiled	Mitsubishi Electric, Hitachi Cable, LS Cable System, Huber+Suhner, Fujikura, Southwire, Nexans, Prysmian Group, Kabelwerke Brugg, 3M, The Sandon Global Corporation, NKT, Sumitomo Electric Industries, General Cable, Furukawa Electric
Segments Covered	Insulation Material, Voltage Rating, Application, Construction Type, Conductor Material, Regional
Key Market Opportunities	Rising renewable energy infrastructure Smart grid development Aging grid infrastructure Focus on grid resilience Industrial automation
Key Market Dynamics	Rising demand for renewable energy Growing urbanization and industrialization Advancement in grid infrastructure Increasing focus on grid reliability Government regulations and initiatives
Countries Covered	North America, Europe, APAC, South America, MEA

FAQs

What is the market size of the Global Medium Voltage Wire And Cable Market?

The global medium voltage wire and cable market is expected to reach USD 22.23 billion by 2034, growing at a CAGR of 4.22% from 2025 to 2034.

What are the key regions in the Global Medium Voltage Wire And Cable Market?

The key regions in the global medium voltage wire and cable market include North America, Europe, Asia-Pacific, and the Rest of the World.

What are the key applications of Medium Voltage Wire And Cable?

The key applications of medium voltage wire and cable include power transmission and distribution, industrial machinery, and construction.

Who are the key competitors in the Global Medium Voltage Wire And Cable Market?

The key competitors in the global medium voltage wire and cable market include Prysmian Group, Nexans, NKT, LS Cable System, and Sumitomo Electric Industries.

What are the key trends in the Global Medium Voltage Wire And Cable Market?

The key trends in the global medium voltage wire and cable market include the increasing demand for renewable energy, the growing adoption of smart grids, and the rising need for infrastructure development.

What are the challenges in the Global Medium Voltage Wire And Cable Market?

The key challenges in the global medium voltage wire and cable market include the fluctuating prices of raw materials, the intense competition, and the stringent regulatory requirements.

What is the growth potential of the Global Medium Voltage Wire And Cable Market?

The global medium voltage wire and cable market is expected to grow at a CAGR of 4.2% from 2024 to 2032, driven by the increasing demand for electricity and the growing adoption of renewable energy sources.

What are the key opportunities in the Global Medium Voltage Wire And Cable Market?

The key opportunities in the global medium voltage wire and cable market include the development of new technologies, the expansion into new markets, and the growing demand for smart grids.

What are the key drivers of the Global Medium Voltage Wire And Cable Market?

The key drivers of the global medium voltage wire and cable market include the increasing demand for electricity, the growing adoption of renewable energy sources, and the rising need for infrastructure development.

What is the competitive landscape of the Global Medium Voltage Wire And Cable Market?

The global medium voltage wire and cable market is highly competitive, with a number of major players. The key competitors include Prysmian Group, Nexans, NKT, LS Cable System, and Sumitomo Electric Industries.

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