Medium Voltage Cable and Accessories Market: Industry Expert View on Future Growth and Market Trends
The growing industrialization is leading to the construction of new office complexes globally. For instance, in Q1 of 2022, the construction of Ostendstraße 1–14 Commercial Buildings started in Berlin, Germany, with an investment of ~US$ 1,293 million. The project aims to meet the growing requirement for office, hotel, retail, and commercial facilities in the country. The project is expected to be completed by Q4 of 2027. Similarly, the construction of the Commerz III Commercial Office Complex started in Q1 of 2022 in Mumbai, India. This 43-story commercial office complex construction is expected to require an investment of ~US$ 900 million and will be completed by Q4 of 2027. Thus, the rise in residential and commercial construction projects globally is raising the demand for medium voltage cable and accessories to provide regular power supply to these properties, which drives the growth of the medium voltage cable and accessories market. The government initiatives to raise power gene...