According to the latest report by IMARC Group, titled “Low Voltage Cable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global low voltage cable market size reached US$ 109.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 159.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Market Outlook:
Low voltage cables represent structured wires that are utilized for transferring power to electrical equipment with a small voltage rating. They can be categorized into conductors, polyvinyl chloride (PVC) cables, cross-linked polyethylene (XLPE) cables, etc. These low voltage cable variants can handle 75 to 1500 volts of direct current and 50 to 1000 volts of alternating current. They are manufactured using solid aluminum and flexible copper conductors and are halogen-free and fire-resistant. Low voltage cable models ensure quicker data transfer, optimized usage of energy, and seamless operations. Consequently, they find widespread applications across various sectors, including oil and gas, mining, transportation, chemicals and petrochemicals, etc.
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Market Trends:
The growing need for power generation, distribution, and transmission, on account of the increasing requirement for uninterrupted power supply among numerous industries, is acting as another significant growth-inducing factor. Apart from this, the emerging trend of utilizing renewable energy resources in the power generation process is also positively influencing the market growth.
Moreover, the launch of favorable policies by government bodies aimed at expanding or upgrading the transmission and distribution (T&D) systems is further augmenting the global market. Additionally, the escalating urbanization and digitalization levels and the inflating need for efficient power transmission equipment that can be integrated with smart devices are expected to stimulate the low voltage cable market over the forecasted period.
Competitive Landscape with Key Players:
The competitive landscape of the low voltage cable market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
- Prysmian Group
- Nexans
- General Cable
- ABB
- Sumitomo Electric Industries
- NKT
- Encore Wire Corporation
- Finolex Cables
- TE Connectivity
- Caledonian Cables
- Polycab Wires
- Leoni
- Southwire
- Wanda Group
- Hangzhou Cable
Market Segmentation:
The report has segmented the global low voltage cable market on the basis of installation type, material, overhead product, underground product, end user and region.
Based on Installation Type:
- Overhead
- Underground
Based on Material:
- Copper
- Aluminum
Based on Overhead Product:
- Conductors
- Fittings and Fixtures
- Others
Based on Underground Product:
- PVC Cables
- XLPE Cables
- Cable Terminations
- Cable Joints
- Others
Based on End-User:
- Infrastructure
- Industrial
- Renewables
Geographical Analysis:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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