Low Voltage Cable Market

Global Low Voltage Cable Market Size (2024 to 2029)

The global low voltage cable market is expected at USD 138.54 billion in 2024 and is now projected to reach the amount of USD 202.63 billion, growing at a CAGR of 7.9% during the forecast period.

Current Scenario of the Global Low Voltage Cable Market

The global market for Low voltage cable market is expected to perform well with a decent growth rate in terms of CAGR for the forecasted period of 2023-2028.March 2019: L.S. Cable Asia has announced that LS Vina, its Vietnamese manufacturing subsidiary, would help supply over US$50 million worth of power cables to a large-scale solar power plant project in Vietnam. June 2018: Prysmian Group has announced the acquisition of General Cable, one of the leading companies in this particular segment. In 2008, IFC had invested around $120 million to pick up a 12% stake in Polycab.In 2017, China topped the list for investments made in smart grid technologies and allied services, accounting for about USD 3.43 billion. India, on the other hand, has launched the National Smart Grid Mission, under which it aims to invest USD 44 billion in the country throughout 2017-2027.

MARKET DRIVERS AND RESTRAINTS 

Various factors, such as increasing industrialization and urbanization, increased renewable energy production, growth in the transmission and distribution network, and government initiatives to develop or modernize the system, are fuelling the worldwide low-voltage cables market. However, some factors, such as funding constraints, sophisticated planning, and authorizations, restrict market growth.

REPORT COVERAGE

REGIONAL ANALYSIS

Geographically speaking, the market is segmented into Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. The demand for low-voltage cables and accessories is expected to grow more rapidly in developing region like Asia Pacific, where the T&D sector is in a growth phase. Besides, in the developed countries of Europe and North America, the market will develop as a result of the modernization of their existing T & D network.

KEY PLAYERS IN THE GLOBAL LOW VOLTAGE CABLE MARKET

Some of the key market players actively working in this domain are:Prysmian S.P.A (Italy), Nexans S.A. (France), General Cable Corporation (U.S.), Sumitomo Electric Industries (Japan), NKT Cables Group GmbH (Germany), ABB Ltd. (Switzerland), Encore Wire Corporation (U.S.), Finolex Cables Limited (India), Polycab Wires Pvt. Ltd. (India), and others.

Research Report Key Highlights

1. The evaluation of the current market for your product or services and the future implications of the market.

2. Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the Extensive future segmentation to understand the dynamics of the market at a very granular level by splitting down the market to the smallest segment.

3. Addresses the key market dynamics involving the drivers, restraints, and challenges to provide insights for gaining market share.

4. The factors responsible for the shaping of the industry as it is as a result of the competitive environment are analyzed through Porter’s Five Forces.

DETAILED SEGMENTATION OF THE GLOBAL LOW VOLTAGE CABLE MARKET INCLUDED IN THIS REPORT

This research report on the global low voltage cable market has been segmented and sub-segmented based on the installation, overhead, underground, end-user, and region. 

By Installation                    

• Overhead
• Underground         

By Overhead                      

• Conductors             
• Fittings & Fixtures
• Others      

By Underground                               

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

By End-User                       

• Infrastructure        
• Industrial 
• Renewables           

By Region

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