Low Voltage Cable Market

Analysts at GMI Research estimates that the Low Voltage Cable Market was worth USD 178.4 billion in 2021, and forecast to touch USD 265.6 billion in 2029, growing at a CAGR of 5.1% from 2022-2029.

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Key Drivers

A power cable is the essential requirement in transmission & distribution activities from the generation point to the point of consumption. Low voltage cable is a prominent component for the secondary distribution of power below 1KV. These factors play a major role in driving the growth of the global low voltage cable market. Moreover, the growing urbanization and rapid industrialization are increasing the demand for power supply due to which the government is taking initiatives to expand and upgrade the transmission & distribution network. The growing adoption of renewable sources for energy production is likely to propel the growth of the global low voltage cable market.

The growing rate of population is increasing the construction of residential buildings, which require a smooth power supply. These new constructions and upgradation in old constructions are bolstering the growth of the global low voltage cable market. The inclination towards smart buildings is playing a significant role in driving this market. The installation of camera surveillance, monitoring systems, internet connections, among others, requires low voltage cable. This factor is boosting the growth of the global low voltage cable market.

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Installation – Segment Analysis

Based on the installation, the market is segmented into overhead and underground. The underground segment is expected to grow at a higher CAGR over the forecast period. Underground cable lines are safer and have pleasing aesthetics as compared to overhead lines. These lines have higher insulation, which decreases the chances of damage. Underground wirings are preferred in the new constructions as overhead cables helps in reducing the chances of defaults in the new buildings. These factors play an important role in surging the growth of the underground segment in the global low voltage cable market.

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Regional – Segment Analysis

Based on the region, the Asia-Pacific region is anticipated to witness a faster CAGR over the forecast period. This is mainly due to the growing modernization, increasing industrialization, and inclination towards better living standards, which is surging the investments in the transmission & distribution network and smart grid infrastructure. These factor are increasing the demand for low voltage cables for the expansion of the power supply network. Rapid installations of new capacity in solar and wind by countries like China are likely to increase the growth of the low voltage cable market in Asia-Pacific region.

Top Market Players

Various notable players operating in the market include Prysmian S.P.A, General Cable Technologies Corporation, Nexans, NKT A/S, Sumitomo Electric Industries, Ltd., ABB, Finolex Cables Limited, Encore Wire Corporation, Brugg Group, and TE Connectivity, among others. 

Key Developments: 

• • In 2020, Finolex Cables Limited entered the Industrial switchgear market with the launch of MCCB (molded case circuit breaker). The launch of MCCB will strengthen Finolex cable by giving access to the robust and enormous switchgear market to serve its dealers.
  • In 2018, Nexans launched its new low voltage flexible rubber cables, Titanex, which has the capability to endure up to 90 Degree Celsius temperatures for fixed and protected installations.

Segments covered in the Report:

The global low voltage cable market has been segmented on the basis of installation, product, end-user, and regions. Based on installation, the market is segmented into overhead and underground. Based on product, the market is segmented into overhead products and underground products. The overhead products segment is further segmented into conductors, fittings & fixtures, and other low voltage accessories. The underground products segment is further segmented into PVC cables, XLPE cables, cable terminations, cable joints, and other low voltage cables & accessories. Based on end-user, the market is segmented into infrastructure, industrial low voltage cable & accessories market, and renewables low voltage cable & accessories. Based on region, the global Low Voltage Cable market is segmented into North America, Europe, Asia-Pacific, and roW.

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Key questions answered in this research report:

• • At what pace is global low voltage cable market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in low voltage cable market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global low voltage cable market?
  • Which installation generated maximum revenues in 2021 and identify the most promising installation during the forecast period?
  • What are the various end-user areas of global low voltage cable market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 178.4 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Installation, By Product, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Prysmian S.P.A, General Cable Technologies Corporation, Nexans, NKT A/S, Sumitomo Electric Industries, Ltd., ABB, Finolex Cables Limited, Encore Wire Corporation, Brugg Group, TE Connectivity, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Low Voltage Cable Market by Installation

• • Overhead
  • Underground

Global Low Voltage Cable Market by Product

• • Overhead Products
    • Conductors
    • Fittings & Fixtures
    • Other Low Voltage Accessories
  • Underground Products
    • PVC Cables
    • XLPE Cables
    • Cable Terminations
    • Cable Joints
    • Other Low Voltage Cables & Accessories

Global Low Voltage Cable Market by End-User

• • Infrastructure
    • Commercial & Residential
    • Transportation & Others
  • Industrial Low Voltage Cable & Accessories
    • Utilities Low Voltage Cable & Accessories
    • Oil & Gas Low Voltage Cable & Accessories
    • Mining Low Voltage Cable & Accessories
    • Chemicals & Petrochemicals Low Voltage Cable & Accessories
    • Other Industrial Low Voltage Cable & Accessories
  • Renewables Low Voltage Cable & Accessories
    • Wind Power Low Voltage Cable & Accessories
    • Solar Power Low Voltage Cable & Accessories

Global Low Voltage Cable Market by Region

• • North America Low Voltage Cable Market (Option 1: As a part of the free 25% customization)
    • By Installation
    • By Product
    • By End-User
    • US All-Up
    • Canada All-Up
  • Europe Low Voltage Cable Market (Option 2: As a part of the free 25% customization)
    • By Installation
    • By Product
    • By End-User
    • UK All-Up
    • Germany All-Up
    • France All-Up
    • Spain All-Up
    • Rest of Europe All-Up
  • Asia-Pacific Low Voltage Cable Market (Option 3: As a part of the free 25% customization)
    • By Installation
    • By Product
    • By End-User
    • China All-Up
    • India All-Up
    • Japan All-Up
    • Rest of APAC All-Up
  • RoW Low Voltage Cable Market (Option 4: As a part of the free 25% customization)
    • By Installation
    • By Product
    • By End-User
    • Brazil All-Up
    • South Africa All-Up
    • Saudi Arabia All-Up
    • UAE All-Up
    • Rest of world (remaining countries of the LAMEA region) Low Voltage Cable Market All-Up

Major Players Operating in the Low Voltage Cable (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Prysmian S.P.A
  • General Cable Technologies Corporation
  • Nexans
  • NKT A/S
  • Sumitomo Electric Industries, Ltd.
  • ABB
  • Finolex Cables Limited
  • Encore Wire Corporation
  • Brugg Group
  • TE Connectivity