The North America Medium Voltage Cable & Accessories Market is witnessing robust growth due to escalating investments in power infrastructure and increasing adoption of renewable energy sources. The market size was valued at USD 3,460 Million in 2025 and is projected to reach USD 6,890 Million by 2035, registering a CAGR of 6.5% from 2024 to 2035. The sector is characterized by advancements in cable technology, rising grid modernization activities, and emerging smart grid trends across the region.
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Market Growth Drivers
Expansion of Renewable Energy Projects: With the surge in renewable energy developments, especially wind and solar power installations, the demand for medium voltage cables and accessories has risen significantly. Companies such as Nexans and Prysmian Group have increasingly supplied customized cable solutions for large-scale solar farms and wind parks in the US and Canada. For example, in March 2024, Nexans secured a contract to supply medium voltage cabling to a 300MW solar farm in Texas, underscoring the critical role of MV cables in integrating renewables into existing grids.
Modernization of Grid Infrastructure: The aging power infrastructure in North America has accelerated initiatives towards grid modernization, driving substantial demand for advanced MV cables and their accessories. Enhanced cable technologies, like those offered by Southwire Company, facilitate better network efficiency and reliability. In April 2024, Southwire announced an expansion of its MV cable production facility in Georgia to cater to increasing utility and industrial sector demand for grid upgrades.
Market Trends
Smart Grid Integration: A significant trend in the market is the integration of medium voltage cables with smart grid technologies to improve energy management and operational efficiency. Companies such as General Cable Corporation are developing MV cables equipped with monitoring sensors and IoT compatibility to facilitate real-time fault detection and performance analytics, supporting smarter and more resilient grids across North America.
Preference for Eco-friendly Cable Materials: There is a growing trend towards the use of recyclable and low environmental impact materials in cable manufacturing. Leading manufacturers like Prysmian Group are emphasizing lower-carbon footprint cables and accessories to address both regulatory and consumer sustainability expectations. In May 2024, Prysmian unveiled a new range of eco-friendly MV cables designed for utility and renewable applications in North America.
Market Opportunity
Electrification of Transportation: The ongoing expansion of electric vehicle infrastructure and mass transit electrification projects present significant growth opportunities for MV cable and accessory manufacturers like General Cable and Nexans. These companies are increasingly supplying custom cable solutions for EV charging stations and rail electrification projects.
Data Center Expansion: The rise in hyperscale data centers across North America, necessitating reliable medium voltage connections, gives a substantial opportunity for companies such as Southwire to expand their market presence, providing advanced MV cable systems for new data center construction.
North America Medium Voltage Cable & Accessories Market Revenue, 2020-2035 (USD Million)
The market revenue exhibited steady growth from USD 2,000 Million in 2020 to an estimated USD 3,460 Million in 2025, driven by increased renewable energy deployments and grid modernization efforts. The upward trajectory continues as revenue is projected to reach around USD 6,890 Million by 2035, supported by sustained investment in power infrastructure, smart grid integration, and the proliferation of electric vehicle charging networks. The CAGR of 6.5% from 2024 to 2035 highlights the sector's resilience amid technological innovation, regulatory support, and sustainability trends.
North America Medium Voltage Cable & Accessories Market Share by Region (%) - 2025
In 2025, the United States dominates the North America Medium Voltage Cable & Accessories Market with a commanding 67% share, reflecting its extensive grid modernization projects, renewable integration, and infrastructure spending. Canada follows with 19%, benefiting from increased renewable energy investments. Mexico accounts for 8%, driven by industrial growth and power distribution upgrades, while 'Rest of NA' including Caribbean territories shares the remaining 6%. The regional distribution underscores the leadership of the US along with growth potential in neighboring markets as electrification and clean energy trends accelerate.
Recent Developments
In May 2024, Nexans launched its new AmpaCITY™ eco-friendly medium voltage cable range in North America, designed to support high-efficiency and low-carbon footprint projects. These new cables comply with stringent new environmental standards and are already being deployed in renewable energy infrastructure and utility modernization projects across the US and Canada.
Southwire Company announced in April 2024 a $50 million expansion of its Carrollton, Georgia medium voltage cable plant. The expansion aims to increase production capacity to meet accelerating demand from utility companies undertaking grid modernization and energy transition initiatives, ensuring faster delivery times and tailored solutions for large projects.
Prysmian Group, in March 2024, secured a $60 million contract to supply medium voltage cables and accessories for the new Coastal Energy Grid Project in Texas. This project will interconnect multiple utility-scale renewable sites to the main grid, further establishing Prysmian’s role as a key supplier for critical infrastructure supporting clean energy integration in North America.
Press Releases