North America Medium Voltage Cable Market to Grow at a CAGR of 5.7% to reach US$ 5,220.7 million from 2020 to 2027
The North America medium voltage cable market is expected to grow from US$ 3,689.8 million in 2019 to US$ 5,220.7 million by 2027; it is estimated to grow at a CAGR of 5.70 % from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Fast urbanization and industrialization is expected to accelerate the North America medium voltage cable market. Growth in industrialization, has created an ever increasing need for energy generation, transmission, and distribution. This has significantly propelled the demand for medium voltage cables. Further, industrialization has resulted in growth of urbanization in North America as it created economic growth as well as job opportunities, which is driving people to relocate to cities. With the growth in urban population, there is an increase in investments to meet the challenges concerning need for housing, energy distribution, transportation, and other infrastructure. Moreover, urbanization and industrialization have also resulted in increased demand for basic facilities, such as education and healthcare. To meet these challenges, several governments across North America have laid down initiatives to meet shortages in the basic infrastructure and housing sector. Since medium voltage cables are vital component of electricity transmission and distribution, the above mentioned factors are anticipated to significantly boost the growth of the North America medium voltage cable market. Some others factors such as rise in renewable energy generation is also expected to increase the demand of medium voltage cable, ultimately driving the North America medium voltage cable market during forecast period.
Further, in case of COVID-19, North America is highly affected specially the US. In the North American region, a slight decline in the demand for medium voltage cables was witnessed owing to a halt in the construction industry. In Canada, construction projects deemed nonessential were shut down, and the essential projects are subject to public health guidelines. However, positive demand from power distribution as well as energy & infrastructures, particularly in on-shore wind, were noticed. Additionally, demand was accelerated due to the expiration of tax incentives and credits offered by the US government for renewable energy projects. In December 2020, the government passed the COVID-19 relief bill, extending tax incentives timeline for industries, including renewable energy. The renewable energy industry in the US, including wind and solar power, has witnessed growth during the COVID-19 epidemic so far. Furthermore, the US government support for an infrastructure package worth US$ 2 trillion will moderate the impact on demand for medium power cables used in infrastructure projects.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America medium voltage cable market. The North America medium voltage cable market is expected to grow at a good CAGR during the forecast period.
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North America Medium Voltage Cable Market Segmentation
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North America Medium Voltage Cable Market – By Installation Type
- Overhead Cables and Accessories
- Underground Cables and Assemblies
- Submarine Cables and Accessories
North America Medium Voltage Cable Market – By End-Users
- Oil and Gas
- Energy and Power
- Mining
- Manufacturing
- Transportation
- Commercial
- Residential
North America Medium Voltage Cable Market, by Country
- US
- Canada
- Mexico
North America Medium Voltage Cable Market -Companies Mentioned
- Alpha Wire
- Furukawa Electric Co. Ltd.
- General Cable Technologies Corporation
- LEONI AG
- LS Cable & System Ltd.
- Nexans
- Sumitomo Electric Industries, Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Installation Type and End-Users
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Medium Voltage Cable Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Medium Voltage Cable Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Fast Urbanization and Industrialization
5.1.2 Rise in Renewable Energy Generation
5.2 Market Restraints
5.2.1 Presence of Simulated Cable Market
5.3 Market Opportunities
5.3.1 Finding New Oil & Gas Reserves
5.4 Future Trends
5.4.1 Development in the Cable Technology
5.5 Impact Analysis of Drivers and Restraints
6. Medium Voltage Cable Market– North America Analysis
6.1 North America Medium voltage cable Market Overview
6.2 North America Medium Voltage Cable Market– Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. North America Medium Voltage Cable Market Analysis by Installation Type
7.1 Overview
7.2 North America Medium Voltage Cable Market, by Installation Type (2019 and 2027)
7.3 Overhead Cables and Accessories
7.3.1 Overview
7.3.2 Overhead Cables and Accessories: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Underground Cables and Accessories
7.5.1 Overview
7.5.2 Underground Cables and Accessories: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Submarine Cables and Accessories
7.6.1 Overview
7.6.2 Submarine Cables and Accessories: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Medium Voltage Cable Market Revenue and Forecast to 2027 – By End Users
8.1 Overview
8.2 North America Medium Voltage Cable Market Breakdown, By End Users, 2019 & 2027
8.3 Oil and Gas
8.3.1 Overview
8.3.2 Oil and Gas: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Energy and Power
8.4.1 Overview
8.4.2 Energy and Power: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Mining
8.5.1 Overview
8.5.2 Mining: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Manufacturing
8.6.1 Overview
8.6.2 Manufacturing: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Transportation
8.7.1 Overview
8.7.2 Transportation: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Commercial
8.8.1 Overview
8.8.2 Commercial: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
8.9 Residential
8.9.1 Overview
8.9.2 Residential: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
9. North America Medium Voltage Cable Market – Country Analysis
9.1 Overview
9.1.1 North America: Medium Voltage Cable Market, by Key Country
9.1.1.1 US: Medium Voltage Cable Market – Revenue, and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Medium Voltage Cable Market, by Installation Type
9.1.1.1.2 US: Medium Voltage Cable Market, by End User
9.1.1.2 Canada: Medium Voltage Cable Market – Revenue, and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Medium Voltage Cable Market, by Installation Type
9.1.1.2.2 Canada: Medium Voltage Cable Market, by End User
9.1.1.3 Mexico: Medium Voltage Cable Market – Revenue, and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Medium Voltage Cable Market, by Installation Type
9.1.1.3.2 Mexico: Medium Voltage Cable Market, by End User
10. Impact of COVID-19 Pandemic on North America Medium Voltage Cable Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 Alpha Wire
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Nexans
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Sumitomo Electric Industries, Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 General Cable Technologies Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Furukawa Electric Co. Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 LS Cable & System Ltd.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 LEONI AG
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Medium Voltage Cable Market– Revenue and Forecast to 2027 (US$ Million)
Table 2. US: Medium Voltage Cable Market, by Installation Type –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Medium Voltage Cable Market, by End User –Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada: Medium Voltage Cable Market, by Installation Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Medium Voltage Cable Market, by End User –Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico: Medium Voltage Cable Market, by Installation Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: Medium Voltage Cable Market, by End User –Revenue and Forecast to 2027 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Medium Voltage Cable Market Segmentation
Figure 2. North America Medium Voltage Cable Market Segmentation – By Country
Figure 3. North America Medium Voltage Cable Market Overview
Figure 4. Overhead Cables and Accessories Segment Held the Largest Share During Forecast Period
Figure 5. Energy and Power Segment Dominated the Market
Figure 6. North America Medium Voltage Cable Market, Country Analysis
Figure 7. North America PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America Medium Voltage Cable Market Impact Analysis of Drivers and Restraints
Figure 11. North America Medium voltage cable Market– Revenue and Forecast to 2027 (US$ Million)
Figure 12. North America Medium Voltage Cable Market Revenue Share, by Installation Type (2019 and 2027)
Figure 13. North America Overhead Cables and Accessories: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America Underground Cables and Accessories: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. North America Submarine Cables and Accessories: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. North America Medium Voltage Cable Market Breakdown, By End Users, 2019 & 2027
Figure 17. North America Oil and Gas: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Energy and Power: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. North America Mining: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. North America Manufacturing: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Transportation: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. North America Commercial: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. North America Residential: Medium Voltage Cable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. North America: Medium Voltage Cable Market Revenue Share, by Key Country (2019 and 2027)
Figure 25. US: Medium Voltage Cable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 26. Canada: Medium Voltage Cable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. Mexico: Medium Voltage Cable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in North American Country Markets
- Alpha Wire
- Furukawa Electric Co. Ltd.
- General Cable Technologies Corporation
- LEONI AG
- LS Cable & System Ltd.
- Nexans
- Sumitomo Electric Industries, Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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