India Medium Voltage Cable Market to Witness Robust CAGR During Forecast Period

Increasing electricity production capacity and revamping of existing or aging infrastructure to drive India medium voltage cable market during forecast period

According to TechSci Research report, “India Medium Voltage Cable Market By Type, By Voltage, By Product Installation, By End User, Competition, Forecast & Opportunities, 2024”, India medium voltage cable market is anticipated to witness significant growth in the coming years on account of growing demand for electricity in rural areas and increasing investments in transmission and distribution network. Medium voltage cables design ranges from 2000 V to 1000 kV. These cables are used for the power transmission and for connecting equipment that require large amount of power such as pipelines, refineries, among others. Over the past few years, medium voltage cables witnessed extensive adoption as these cables have high operational efficiency. During natural disasters, it is the preferred type for electrification due to ease of installation and minimal power loss.

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Market of medium voltage cable can be segregated based on type, voltage, product installation and end user. Based on product installation, market can be bifurcated into overhead and underground. Overhead installation is anticipated to account for the majority share as overhead cables are easy to install and incur less cost when compared with underground cables, which require shielding and thereby result in increasing the overall installation cost.

Major medium voltage cable companies operating in India include Sterlite Power Transmission Ltd., Universal Cables Ltd, KEI Industries Ltd, Polycab Wires Pvt. Ltd., Gupta Power Infrastructure Ltd., Diamond Power Infrastructure Ltd., and Finolex Cables Ltd., among others. The companies operating in the market are using strategies such as product developments and mergers & collaborations, to increase their share in the market. For instance, Finolex Cables Ltd. doubled its production capacity at Urse plant and implemented a new technology to offer zero discharge cable.  

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“Medium voltage cable market in India is expected to grow on account of various advantages of medium voltage cables such as proper load distribution among circuits, improved stability of system and low cost. Furthermore, government plans for safe electrical infrastructure and grid expansion are expected to positively influence the adoption of medium voltage cable until 2024.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Medium Voltage Cable Market By Type, By Voltage, By Product Installation, By End User, Competition, Forecast & Opportunities, 2024” has analyzed the potential of medium voltage cable market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India medium voltage cable market.

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