Medium voltage cables are a category of cables defined by the International Electrochemical Commission with voltage ranging above 1kV to maximum 100kV. Medium voltage cables and accessories provide power in unusual events of unpredictable power outage, distribution of power in remote areas, and applications ranging between 5kV up to 35kV. Medium voltage cables and accessories is generally a single standalone block which can withstand without any additional block for its support. Medium voltage cables are used for power distribution and electric power transmission. Medium voltage cables & accessories are widely used in commercial and industrial sectors.
The medium voltage cables and accessories market can be segmented into installation type, product, end-user industry, and region. Based on types, the market can be trifurcated into overhead, underground, and submarine. Based in terms of product, the medium voltage cables & accessories market can be further divided into termination cables, joints, and XLPE cables. Based on end-user industry, the market is categorized into industrial, commercial, and residential sectors. Underground installations are widely used in densely populated urban areas and in industrial use, where it is impractical or difficult to lay overhead cables. For the purpose of electric insulation purpose XLPE or cross-linked polyethylene are extensively used in all voltage power cables but it is majorly used in medium voltage cables and accessories. End users of medium voltage cables and accessories are energy corporations, environmental associations, government and residential users, transmission and distribution facilities, and etc.
Medium voltage cables and accessories are flexible and durable for the purpose of handling. They provide protection against weathering, oil impact, and abrasion. They are easy to install, provide insulation to power systems, and are moisture, heat, and ozone resistant. Medium voltage cables reduce downtime and help keep electric systems functioning smoothly. Medium voltage cables are best suitable for congested areas where overhead cable lines are difficult or impossible to install. New innovations and technical advancements are emerging in order to reduce cost of production for medium voltage cables and accessories
Restrains of using medium voltage cables and accessories are there would be difficulty in repairing and identifying the cables if not installed precisely at appropriate locations. Damage to medium voltage cables and accessories may lead to digging of roads, if the damaged cables are traced inappropriately. Requirement of skilled and efficient labor in handling, maintenance, and exchange of medium voltage cables and accessories are necessary.
In terms of geography, countries in Asia Pacific such as India, China, Japan, Australia, and Singapore have increasing demand for the medium voltage cables and accessories market due to rapid industrialization and urbanization. Rise in demand for electricity in North America is expected to boost the medium voltage cables and accessories market in the region. Countries in Europe such as the U.K., France, and Germany has a growing market for the growth of medium voltage cables and accessories due to rapid industrialization. Recent development plans in Latin America and Africa are expected to boost demand for medium voltage cables and accessories after they recover from the economic meltdown.
Key players operating in the medium voltage and accessories market are Caledonian Cables Ltd., ABB Ltd., Dubai Cable Company Ltd., General Electric Company, and Siemens AG.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.