According to The Insight Partners' research, the North America Medium Voltage Cable Market was valued at US$ 5,835.7 Million in 2024 and is expected to reach US$ 7,970.9 Million by 2031, registering a CAGR of 4.7% from 2025 to 2031.
Rising demand for uninterrupted power supply in industries and rising investments in renewable energy are the factors driving the North America medium voltage cable market.
The need for reliable power grid infrastructure, emergency power backup solutions, and a steady power supply is increasing in industries, eventually driving the demand for power. The demand for an uninterrupted power supply has surged in the mining industry. Heavy-duty equipment is used in excavating machinery, conveyor belts, drillers, and cranes, which require a continuous power supply even in harsh environments.
In oil & gas and petrochemical industries, reliable electrical power is needed to protect people, assets, the environment, and the continuity of sensitive operations. Drilling, pumping, and loading activities require an uninterrupted power supply for continuous operation and safety. On oil rigs, an uninterruptible power supply ensures that signal lighting is always operational. The quality and availability of power are essential in maintaining uptime and meeting production schedules in the manufacturing industry. An unplanned outage stops production, diverts labor, and creates waste. Maintaining uptime is essential, with manufacturing companies running production lines 24/7. Uninterruptible power supply systems (UPS) can reduce downtime in manufacturing by providing reliable backup power during an emergency. UPS allows systems to shut down slowly, in alignment with standard procedures, as opposed to the rapid shutoff of an outage, which could damage the equipment. Thus, the rising demand for an uninterruptible power supply in mining, oil & gas, manufacturing, and petrochemical industries fuels the demand for medium voltage cable, as they help provide a regular power supply in the field.
The data center sector is growing due to the digital revolution and the 5G rollout. Data centers require an uninterrupted power supply to function optimally, as they constantly store and process a high volume of digital data. A minor outage in power could lead to data loss and disrupt business continuity. Medium-voltage (MV) cables are crucial components in large data centers, as medium-voltage (MV) cables and UPS work together to ensure reliable and efficient power delivery, with MV cables connecting the data center to the main grid and UPS acting as a backup power source during outages. Thus, the rising demand for uninterrupted power supply drives the market growth.
On the flipside, widespread availability of counterfeit cables hampers the growth of the North America medium voltage cable market.
North America Medium Voltage Cable Market Segmentation Analysis:
- By Installation, the North America Medium Voltage Cable Market is segmented into Overhead, Underground, and Submarine. The Overhead segment is projected to expand at a CAGR of 3.7% during 2025 - 2031.
- By Overhead, the North America Medium Voltage Cable Market is segmented into ACSR (Aluminum Conductor Steel Reinforced), AAAC (All Aluminum Alloy Conductor), AACSR (Aluminum Alloy Conductor Steel Reinforced), and Others. The ACSR (Aluminum Conductor Steel Reinforced) segment is projected to expand at a CAGR of 4.8% during 2025 - 2031.
- By Underground, the North America Medium Voltage Cable Market is segmented into XLPE (Cross-Linked Polyethylene), PVC (Polyvinyl Chloride), PILC (Paper Insulated Lead Covered), and Others. The XLPE (Cross-Linked Polyethylene) segment is projected to expand at a CAGR of 7.7% during 2025 - 2031.
- By Voltage, the North America Medium Voltage Cable Market is segmented into 6 to 13 kV, 23 kV, 34 kV, 45 kV, 69 kV, and 1 to 5 kV. The 6 to 13 kV segment is projected to expand at a CAGR of 2.6% during 2025 - 2031.
- By End User, the North America Medium Voltage Cable Market is segmented into Industrial, Infrastructure, and Renewables. The Industrial segment is projected to expand at a CAGR of 5.4% during 2025 - 2031.
By country, the North America Medium Voltage Cable Market is categorized into the United States, Canada and Mexico. The United States is projected to expand at a CAGR of 4.9% during 2025 - 2031.
Key players operating in the Medium Voltage Cable Market are ABB Ltd, Prysmian SpA, TE Connectivity, Nexans SA, Southwire Company LLC, Houston Wire & Cable Co, Belden Inc, NKT AS, The Okonite Co, Sumitomo Electric Industries Ltd, 3M Co., Eaton Corp., Hitachi Energy Ltd, LS Cable & System USA, and Ensto Oy, among others.
2025: LS Cable & System USA (LSCSUSA) announced its partnership with Priority Solutions Group (PSG). This agreement enables PSG to distribute LS Busway, LSCSUSA's premier line of energy distribution systems, to customers in North and South Carolina.
2024: LS Busway partnered with Florida-based Power Design Inc. to install the Ex-Way (UL) 4000A busway in an upscale downtown residential building in Knoxville, Tennessee, near the University of Tennessee Student Union. This project's vertical configuration posed additional challenges, prompting LS Busway to provide on-site training and quality assurance to ensure proper installation.
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