Medium Voltage Cable Market : Size and Growth by 2031
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The Medium Voltage Cable Market is witnessing rapid growth driven by increasing urbanization, industrialization, and expanding power infrastructure across the globe. Medium voltage cables play a crucial role in the transmission and distribution of electrical power, Polyvinyl Chloride connecting high voltage networks to low voltage systems in residential, commercial, and industrial sectors. Market Overview In 2023, the global medium voltage cable market was valued at approximately USD 25.4 billion . Forecasts suggest the market will grow to around USD 42.7 billion by 2031 , registering a compound annual growth rate (CAGR) of 6.5% between 2023 and 2031. This growth is attributed to the surging demand for efficient power transmission and distribution systems, along with the increasing adoption of renewable energy sources requiring reliable medium voltage cabling solutions. Key Growth Drivers Rising Energy Demand and Urbanization Rapid ...