Low Voltage Cable Market Size, Demand, Manufacturers and Forecast 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 cable serves as a critical component in electrical systems and is designed to transmit electricity at a voltage level of up to 1 kV. It is composed of a copper or aluminum conductor, insulated with materials like polyvinyl chloride insulation (PVC) or cross linked polyethylene (XLPE), and ensures efficient power distribution. In terms of manufacturing, the conductor is initially extruded, followed by the insulation process, and if required, a sheathing layer is added for additional protection. These cables offer versatility, and robustness, and are easier to install compared to higher-voltage cables. They are often more cost-effective, provide reliable performance, and are easier to maintain.

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Market Growth Divers and Trends:

The increasing demand for reliable and efficient power distribution networks is one of the primary factors driving the market growth. In line with this, industrial sectors like manufacturing, automotive, and energy are growing, necessitating the expansion of electrical infrastructure. Moreover, with the advent of smart grids and renewable energy technologies, there is a need for cables that can handle complex power distribution efficiently thereby acting as a growth-inducing factor. Furthermore, governments worldwide are investing in infrastructure development, including electrification projects and grid modernization, which is creating a positive outlook for the market.

Apart from this, the increasing data usage has led to the construction of more data centers, which require extensive cabling solutions, thereby positively influencing the market growth. Other factors, such as transformation in the automotive sector, increasing demand for consumer electronics, and expansion of online retail platforms, are anticipated to drive the market towards growth.

Competitive Landscape with Key Players:

Low Voltage Cable Manufacturers:

• 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:

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

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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.

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Website: https://www.imarcgroup.com

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.

This release was published on openPR.