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2023 Global Medium Voltage Cable Market Demand Will Exceed 64.1 Billion US Dollars

Aug 23, 2017

  2023 globalmedium voltage cable market demand will exceed 64.1 billion US dollars.Recently 

International Market Research Institute Stratistics MRC released a report that the global market demand for medium voltage cables in 2016 is about 39.32 billion US dollars, expected by 2023  the global medium voltage power cable market will Reaching 64.12 billion US dollars, during the compound annual growth rate of 7.2%.

  The report shows that the industrialization and urbanization process continues to advance, renewable energy continues to improve, the expansion of transmission and distribution systems and government support to promote the global medium voltage power cable stable growth of a major factor, so the emerging countries of the electricity demand The growth to the medium voltage power cable market provides a great opportunity. On the other hand, the lack of capital support and the delay in project plans and license applications have also constrained the development of this market.

  From the installation point of view, the underground medium voltage power cable will dominate the global medium voltage cable market. From the whole point of view, with the Asia-Pacific region continued to increase the renewable energy and energy demand, the Asia-Pacific region on the demand for medium voltage power cable growth will lead the world.

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