IMARC Group has recently released a new research study titled “Low Voltage Cable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How much is the low voltage cable market worth?
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.
What is low voltage cable?
Low voltage cables are electrical conductors specifically designed to transmit electricity at voltage levels below 1000V. These cables are typically used in applications requiring less electrical power, such as residential and commercial wiring, local area network connections, and auxiliary electrical systems. One of the main characteristics of low voltage cables is their high flexibility, making them easier to install and manage within complex layouts. They are also generally lighter and less expensive than their high-voltage counterparts. The insulation material commonly used in low voltage cables is often PVC (Polyvinyl Chloride), although other materials like XLPE (Cross-Linked Polyethylene) can also be used.
Additionally, low voltage cables usually have multiple layers, including a conductor, insulation, and an external protective layer to shield against physical damage or environmental factors. The cables may consist of single or multiple conductors, and they often feature color-coded insulation for easier identification and installation.
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Low Voltage Cable Market Trends, Demand and Growth Drivers:
The rising demand for energy-efficient systems and sustainable practices is one of the primary factors propelling the growth of the low voltage cable market globally. In addition to this, the versatility of low voltage cables, which are apt for diverse residential, commercial, and industrial settings, plays a significant role in market expansion. Moreover, the wave of modernization and infrastructure development initiatives often incorporates low voltage cables, thus contributing to market growth.
Beyond this, advancements in smart building technologies and IoT integration are further catalyzing the demand for low voltage cables. Additionally, the burgeoning e-commerce sector and B2B platforms have made these cables easily accessible to a global audience, thus reinforcing market growth.
Other driving factors include heightened public awareness about electrical safety and efficiency, as well as regulatory frameworks that encourage the use of low-voltage solutions in various applications.
Who are the key players operating in the industry?
Low Voltage Cable Companies:
- 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
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What is included in market segmentation?
The report has segmented the market into the following categories:
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
Geographical Analysis:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- 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.
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