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Low Voltage Cable Market Size, Share, Competitive Landscape and Trend Analysis Report by Installation Type, By End-use, By Voltage, By Material : Global Opportunity Analysis and Industry Forecast, 2024-2032

Low Voltage Cable Market Size, Share, Competitive Landscape and Trend...

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Low Voltage Cable Market Size, Share, Competitive Landscape and Trend Analysis Report by Installation Type, By End-use, By Voltage, By Material : Global Opportunity Analysis and Industry Forecast, 2024-2032
Low Voltage Cable Market Size,...
Report Code
RO6/128/1081

Publish Date
12/Jun/2024

Pages
200
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The global low voltage cable market revenue was around US$ 168.2 billion in 2023 and is estimated to reach US$ 281.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2024 to 2032.
Low voltage cables are made with different materials and designs depending on the specific application and requirements. Its conductors are mainly made of copper or aluminum, both of which are superior electrical conductors. To provide electrical insulation and protection, the conductors are typically insulated with materials like ethylene propylene rubber (EPR), polyvinyl chloride (PVC), or cross-linked polyethylene (XLPE).
Factors Influencing Market Growth
- With the growing global population and increase in energy demand, there is a surge in demand for power distribution networks, and low voltage cables are required for that. This growing demand for low voltage cables in power distribution networks will propel market growth.
- Low voltage cables play a crucial role in connecting renewable energy sources to the electrical grid, as well as energy storage systems and electric vehicle charging infrastructure. This increased demand for data networking and telecommunications will propel market growth.
- Low voltage cables are essential for connecting smart meters, sensors, and distribution devices. This will increase the demand for low voltage cables, thus expanding the market.
- Limited power transmission and voltage drops may hinder the market's growth.
Impact of COVID-19
COVID-19 negatively impacted the market. There was the implementation of stringent lockdown regulations across several nations, which resulted in the temporary closure of numerous manufacturing units for low voltage cables.
Regional Insights
Asia-Pacific dominated the market in 2023. This is because of the rapid pace of urbanization and ongoing infrastructure development in various countries across the region. This creates a rising demand for low voltage cables to support electrical power distribution and communication networks in commercial, residential, and industrial buildings. Low voltage cables are increasingly required for networking, internet connectivity, and data transmission in this region due to the notable growth in telecommunication networks and data consumption. The demand for low voltage cables to support industrial automation, control systems, and communication networks is also driven by the region's continued industrialization and adoption of automation technologies in a variety of industries. As a result, there is now a greater need for low voltage cables to enable the grid to incorporate renewable energy sources.
Leading Competitors
- Polycab India Ltd.
- ABB
- Bahra Electric
- Belden Inc.
- NKT A/S
- Sumitomo Electric Industries, Ltd.
- TE Connectivity
- KEI Industries Limited
- Nexans S.A.
- Prysmian Group
- Other Prominent Players
Segmentation Analysis
The global low voltage cable market segmentation focuses on installation type, end-use, and region.
Segmentation based on Installation Type
- Overhead
- Conductors
- Fittings and Fixtures
- Others
- Underground
- PVC Cables
- XLPE Cables
- Cable Terminations
- Cable Joints
- Others
Segmentation based on End Use
- Infrastructure
- Commercial
- Residential
- Renewable Energy
- Wind
- Hydropower
- Solar and others
- Industrial
- Power Utilities
- Oil and Gas
- Mining
- Chemical and Petrochemical
- Others
- Others
Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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