Summary

In India, the medium voltage cable market is flourishing, and it plays an important part in the country's power transmission and distribution infrastructure. The market has grown significantly in recent years and is expected to grow further as investments in infrastructure expansion, urbanisation, industrial growth, and renewable energy projects increase. The expansion of the power sector, urbanisation, industrialization, and government attempts to increase electricity access and dependability across the country are driving demand for medium-voltage cables in India. The rising emphasis on renewable energy sources, such as solar and wind power, is also driving up demand for medium-voltage cables. Medium-voltage cables are utilised in overhead, subterranean, and submarine systems throughout India. In rural areas, overhead installations are frequent, but underground installations are common in urban and industrial environments. To connect offshore sites or islands to the mainland grid, submarine installations are used. In India, many materials are used to insulate medium-voltage wires. Because of their superior electrical qualities and resilience to moisture and heat, cross-linked polyethylene (XLPE) insulated cables are frequently used. Flexible and resistant to environmental conditions, Ethylene Propylene Rubber (EPR) insulated wires are chosen. In addition, PVC (polyvinyl chloride)-insulated cables are used, particularly for lower voltage applications.

According to the research report “India Medium Voltage Cable Market Overview, 2028," published by Bonafide Research, The India medium voltage cable market is projected to reach a market size of more than USD 1.57 billion by 2028. The Indian government has implemented a number of efforts to encourage the indigenous production of medium-voltage cables. The "Make in India" campaign and associated measures aim to increase domestic production, reduce imports, and raise Indian manufacturers' competitiveness. To assure the safety, dependability, and performance of their products, medium voltage cable makers in India comply with national and international quality requirements. Domestic and international producers serve the Indian medium voltage cable market. Polycab, Havells, KEI Industries, Finolex Cables, RPG Cables, and Universal Cables are some of the market's major companies. There are various associations in India that assist and promote the medium-voltage cable sector. The Indian Electrical and Electronics Manufacturers' Organisation (IEEMA) is the top industrial organisation representing electrical and electronics manufacturers, including medium-voltage cable producers. The Bureau of Indian Standards (BIS) is in charge of developing and implementing medium-voltage cable standards as well as ensuring compliance through certification. The Indian Electrical and Electronics Manufacturers' Association-Cable Division (IEEMA-CD) is dedicated to the cable business and provides a forum for collaboration and problem-solving. The Power Cable Makers Association (PCMA) represents power cable makers, including medium-voltage cables, and advocates for industry growth and advocacy.

The Indian government's endeavours to boost electrification and access to energy in rural regions add to the demand for medium-voltage cables. the expansion of businesses such as manufacturing, construction, and telecommunications necessitates more infrastructure projects and the demand for medium-voltage power distribution lines. Smart grid technologies, such as improved metering infrastructure and distribution automation, necessitate the construction of medium-voltage cables in order to enable effective power management and control. India's medium-voltage cable business has export potential, with Indian producers selling their products to a variety of nations. Favourable pricing, high quality standards, and adherence to international standards all contribute to this export potential. Increasing environmental consciousness and rules governing the use of fossil fuels may have an impact on the expansion of the traditional power sector, hence affecting demand for medium-voltage cables. Changes in government policies, laws, or political unrest can cause market uncertainty and discourage investment, resulting in a downturn in the medium-voltage cable market. Rapid advances in energy storage technology, wireless power transmission, or alternative energy sources may disrupt traditional power distribution systems, influencing demand for medium voltage cables. Dependence on imports for raw materials or completed goods may have an influence on domestic manufacturers' competitiveness, perhaps leading to a loss in Indian medium voltage cable makers' market share. Economic fluctuations, such as inflation, currency exchange rates, or financial crises, can have an impact on infrastructure projects, investments, and consumer spending, hence influencing the growth of the medium voltage cable industry.

In India, renewable energy sources such as solar and wind power have been extensively promoted. As a result, large-scale renewable energy projects have been developed around the country, producing a huge demand for medium-voltage cables to connect these projects to the grid. The Indian government has launched a number of programmes to promote the power industry and infrastructure development, including the "Saubhagya" programme to give electricity to all families and the "Smart Cities Mission" to create sustainable and technologically advanced cities. These measures have aided in the expansion of the medium-voltage cable market. To improve the efficiency and reliability of its power distribution networks, India is gradually using smart grid technologies. In India, there is a rising emphasis on meeting international quality requirements and gaining certifications for medium-voltage cables. This assures that the cables fulfill the necessary safety and performance criteria, improving consumer confidence and promoting market growth. Concerning the influence of COVID-19 on the medium voltage cable industry in India, initial interruptions in the supply chain, labour availability, and project delays owing to lockdowns and limitations have occurred, similar to global trends.

Considered in this report:
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• India medium voltage cable with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Installation Type:
• Overhead
• Underground
• Submarine

By End Users:
• Power Infrastructure (Energy, Power Transmission, and Distribution)
• IT & Telecommunication
• Building & Construction (Commercial and Residential)
• Aerospace & Defence
• Consumer Electronics
• Automotive (Passenger, Commercial, and Utility Vehicles)
• Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)


The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analysing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age groups, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Medium Voltage Cable market, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry

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