North America Medium Voltage Cable Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Installation Type (Overhead Cables and Accessories, Underground Cables and Assemblies, and Submarine Cables and Accessories) and End-Users (Oil and Gas, Energy and Power, Mining, Manufacturing, Transportation, Commercial, and Residential)
Market Introduction
The major growth in the North America region is attributed to the deployment of medium voltage cables to upgrade grid infrastructure as well as rise in investments in renewable power. Also, increase in investments in the oil & gas sector and discoveries of new reservoirs are anticipated to drive the North America market during the forecast period. Also, investments in smart grids across the region has propelled the demand for medium voltage cables. Furthermore, countries in the North America region, have recently been experiencing an increase in discovery of new oil & gas reserves, which is expected to drive the market during the forecast period. Enterprises in North America are constantly optimizing the overall business processes to meet the customer needs for high-quality products and services in the best possible way. Owing to the ability of medium voltage cables to offer reliable connection with a power source during unpredictable power outage situations and to withstand direct exposure to harsh environmental conditions, they are used by industries such oil & gas, chemicals, energy & power, mining, and transportation. North America is observing huge growth in the oil & gas sector due to mounting investments in the same. According to the US Energy Information Administration, the dry natural gas and crude oil production in the US surged by 12% and 17%, respectively, in 2018. The natural gas production in the US has increased on the back of strong growth in the export of Liquefied Natural Gas (LNG). The expansion of oil & gas sector escalates the demand for medium voltage cables that last and withstand harsh environments. Factors such as advancement in cable technology is expected to drive the North America medium voltage cable market during forecast period.
Moreover, 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.
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Market Overview and Dynamics
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. Finding new oil & gas reserves is expected to accelerate the North America medium voltage cable market. The discoveries of new oil & gas reserves have been witnessing exponential growth across North America. In 2019, the total recorded discoveries with over million barrels of oil, with offshore countries leading the new oil & gas deposits. In September 2020, one of the largest oil discovery company in North America, Equinor announced the discovery of new oil & gas fields. Furthermore, in October 2020, another company, Total and its partners announced to evaluate several development options for commercializing a new gas and condensate discovery. Such discoveries of new offshore oil & gas reserves are expected to boost the construction of new plants and electricity requirements for new offshore plants, thereby boosting the North America medium voltage cable market during forecast period.
Key Market Segments
In terms of installation type, the overhead cables and accessories segment accounted for the largest share of the North America medium voltage cable market in 2019. In terms of end-users, the energy and power segment held a larger market share of the North America medium voltage cable market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America medium voltage cable market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Alpha Wire; Furukawa Electric Co. Ltd.; General Cable Technologies Corporation; LEONI AG; LS Cable & System Ltd.; Nexans; Sumitomo Electric Industries, Ltd.
Reasons to buy report
- To understand the North America medium voltage cable market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America medium voltage cable market
- Efficiently plan M&A and partnership deals in North America medium voltage cable market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America medium voltage cable market
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
North America Medium Voltage Cable Market Segmentation
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 - Company Profiles
- Alpha Wire
- Furukawa Electric Co. Ltd.
- General Cable Technologies Corporation
- LEONI AG
- LS Cable & System Ltd.
- Nexans
- Sumitomo Electric Industries, Ltd.
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.
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