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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