Market Overview 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.

Low voltage (LV) cables are used for transferring power to electrical equipment that has a small voltage rating. They can handle 50-1000 volts in case of alternating current and between 75-1500 volts of direct current. These cables are manufactured using solid or stranded aluminum and flexible copper conductors. High-quality LV cables are halogen-free, fire-resistant and ensure efficient use of energy, quicker data transfer and seamless operations. LV cables are primarily used for low-stress applications in automation systems, infrastructure, video surveillance, sounds and security alarms, etc. 

The rising energy demand and incorporation of smart grid networks across the globe are the key factors driving the growth of the market. The growing need for uninterrupted power supply in various industries has increased power generation, distribution and transmission across various regions, which is resulting in enhanced utilization of LV cables. They are also used in the nacelle of wind turbines to connect the transformer to the low-voltage generator. The rising trend of incorporating renewable energy resources in the power generation process is also expected to drive the market further. There has been a rise in the demand for efficient power transmission equipment that can be integrated with smart devices on account of the burgeoning population, along with growing urbanization and digitalization. Furthermore, smart grids and other power systems use automated electronic hardware and software such as switches, relays and meters that require LV cables as they enable smooth functioning and controlling of the operational processes of the network.

IMARC Group’s latest report provides a deep insight into the global low voltage cable market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the low voltage cable market in any manner.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global low voltage cable market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on installation type, material, overhead product, underground product and end-user.

Breakup by Installation Type:

• Overhead 
• Underground
   

Breakup by Material:

• Copper
• Aluminum
   

Breakup by Overhead Product:

• Conductors
• Fittings and Fixtures
• Others
   

Breakup by Underground Product:

• PVC Cables
• XLPE Cables
• Cable Terminations
• Cable Joints
• Others
   

Breakup by End-User:

• Infrastructure
  • Commercial and Residential
  • Transportation
  • Others
• Industrial
  • Utilities
  • Oil and Gas
  • Mining
  • Chemicals and Petrochemicals
  • Others
• Renewables
  • Wind
  • Solar
     

Breakup by Region:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Prysmian Group, Nexans S.A, General Cable, ABB Group, Sumitomo Electric Industries, NK Communications, Encore Wire Corporation, Finolex Cables, TE Connectivity, Caledonian Cables, Polycab Wires, Leoni AG, Southwire Company, LLC, Wanda Group, Hangzhou Cable, etc.

Report Coverage: