According to the latest report by IMARC Group, titled”, the global low voltage cable market size reached US$ 102.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 150.7 Billion by 2027, exhibiting a growth rate (CAGR) of 6.3% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Overview and Application:
Low voltage (LV) cables are utilized for transferring power to electrical equipment that has a small voltage rating. They can handle 75-1500 volts in case of direct current and between 50-1000 volts of alternating current. These cables are produced using stranded or solid aluminum and flexible copper conductors. High-quality LV cables are fire-resistant, halogen-free, and ensure quick data transfer, efficient use of energy, and seamless operations. LV cables are mainly used for low-stress applications in automation systems, video surveillance, infrastructure, sounds, security alarms, etc.
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Market Drivers and Future Opportunities:
The growing energy demand and incorporation of smart grid networks across the globe are primarily driving the growth of the market. Furthermore, the rising need for uninterrupted power supply in several industries has also augmented the utilization of LV cables. Additionally, the increasing upgradation of the existing telecommunication infrastructures is further bolstering the market growth. Moreover, the widespread adoption of these cables in the installation of transmission and distribution (T&D) networks for electricity, telephone, and internet systems is also impelling the market growth. Besides this, LV cables are extensively being used in the nacelle of wind turbines to connect the transformer to the low-voltage generator. The emerging need to adopt renewable energy resources in the power generation process is projected to further drive the global LV cable market in the coming years. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.5% during 2021-2026.
Competitive Landscape with Key Players:
- 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.
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
- Industrial
- Renewables
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- 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.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
