Dublin, Nov. 05, 2024 (GLOBE NEWSWIRE) — The “United States Medium Voltage Cables Market Report and Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
According to the report, the United States medium voltage cables market is projected to grow at a CAGR of 4.60% between 2024 and 2032. Aided by increasing demand for reliable power transmission and distribution systems and the growing applications of medium voltage cables in various sectors, the market is expected to significantly grow by 2032.
The increasing demand for reliable and efficient power transmission and distribution systems is driving the United States medium voltage cables market growth. With the growing urbanisation and industrialisation in the country, 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 United States play a significant role in propelling the United States medium voltage cables market development. 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 This includes the replacement of old and outdated cables with modern medium-voltage cables that offer better performance and longevity.
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 are expanding their production capacities and establishing new facilities in strategic locations across the United States, leading to the United States medium voltage cables market expansion.
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 markets, such as parts of the South and West regions, offer significant growth opportunities for the United States medium voltage cables market development.
The growing focus on renewable energy projects, particularly wind and solar power, is driving the demand for medium voltage cables. These cables are crucial for connecting renewable energy installations to the grid and ensuring efficient power transmission. Federal and state governments in the United States are providing incentives and implementing policies to promote renewable energy, further boosting the market for medium voltage cables.
As per the United States medium voltage cables market analysis, 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. These cables offer higher efficiency and can carry more current than conventional cables, making them ideal for high-demand applications.
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 United States medium voltage cables market. Some of the major players explored in the report are as follows:
- Southwire Company, LLC
- LS Cable & System USA
- Sumitomo Electric Industries, Ltd.
- TPC Wire and Cable Corporation
- Nexans USA
- Prysmian S.p.A.
- Viakable (CME Wire and Cable, Inc.)
Key Attributes
| Report Attribute | Details |
| No. of Pages | 208 |
| Forecast Period | 2024-2032 |
| Estimated Market Value (USD) in 2024 | $8.57 Billion |
| Forecasted Market Value (USD) by 2032 | $12.28 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | United States |
Key Topics Covered
1 Preface
2 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 Snapshot
7 Opportunities and Challenges in the Market
8 North America Medium Voltage Cables Market Overview
8.1 Key Industry Highlights
8.2 North America Medium Voltage Cables Historical Market (2018-2023)
8.3 North America Medium Voltage Cables Market Forecast (2024-2032)
9 United States Medium Voltage Cables Market Overview
9.1 Key Industry Highlights
9.2 Unites States Medium Voltage Cables Historical Market (2018-2023)
9.3 Unites States Medium Voltage Cables Market Forecast (2024-2032)
10 United States Medium Voltage Cables Market by Installation
10.1 Underground
10.2 Submarine
10.3 Overhead
11 United States Medium Voltage Cables Market by Components
11.1 Termination Cables
11.2 Joints
11.3 XLPE Cables
11.4 Others
12 United States Medium Voltage Cables Market by Voltage
12.1 1 kV – 15 kV
12.2 16 kV – 35 kV
12.3 36 kV – 70 kV
12.4 Others
13 United States Medium Voltage Cables Market by Application
13.1 Industrial
13.2 Infrastructure
13.3 Renewable Energy
13.4 Others
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
16 Key Trends and Developments in the Market
For more information about this report visit https://www.researchandmarkets.com/r/c431c0
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- U.S. Medium Voltage Cables Market
