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Exploring the Thriving Low Voltage Cables & Accessories Market Trends, Growth Forecast, Insights, and Industry Competitiors || Prysmian S.P.A, Nexans S.A., General Cable Corporation, Sumitomo Electric Industries
Low Voltage Cables & Accessories Market
The Business Research Company's Low Voltage Cables & Accessories Global Market Report 2023 identifies rising electricity demand is the major driver for the low voltage cables and accessories market's growth in the forecast period. Global electricity demand is rising due to strong economic growth in developing countries, a rising increase in household incomes, electrification of transportation, and growing demand for digitally connected devices. The increased demand for electricity is expected to boost the utilization of low-voltage cables and accessories, as they act as the main component for the secondary distribution of electricity to various industrial and household components.
The global low voltage cables & accessories market size grew from $164.89 billion in 2022 to $201.33 billion in 2023 at a compound annual growth rate (CAGR) of 22.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global low voltage cables & accessories market size is expected to grow to $542.52 billion in 2027 at a CAGR of 28.1%.
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Major competitors in the low voltage cables & accessories market are Prysmian S.P.A, Nexans S.A., General Cable Corporation, Sumitomo Electric Industries, NKT Cables Group GmbH, ABB Ltd., KEI Industries Limited, TE Connectivity, Bahra Advanced Cable Manufacture Co. Ltd.
A key trend in the Low Voltage Cables & Accessories market introducing advanced technologies into EDI systems. Major companies are integrating EDI solutions with new technologies such as APIs, AI, and Blockchain. Advanced technologies increase the agility and connectivity of EDI solutions, which further saves cost and time. For instance, in April 2020, Data Communications Solutions (DCS), a US-based provider of electronic data interchange (EDI) consulting services, partnered with Cleo, a US-based integration software provider, to assist organisations in modernising their B2B initiatives by focusing on EDI and API integration, specifically for ERP systems, through the Cleo integration cloud platform, a platform with unique features purpose-built to build, design, operate, and optimise critical supply-chain integration processes.
Read More On The Global Low Voltage Cables & Accessories Market Report Here: https://www.thebusinessresearchcompany.com/report/low-voltage-cables-accessories-global-market-report
The low voltage cables & accessories market is segmented -
1) By Product: Overhead Products, Underground Products
2) By Voltage: Up to 240V, 241V - 440V, 441V - 1000V
3) By Material: Copper, Aluminum
4) By End-User: Commercial, Residential, Industrial
5) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the low voltage cables & accessories market share.
The Business Research Company's "Global Low Voltage Cables & Accessories Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Low Voltage Cables & Accessories Market Include:
1. Executive Summary
2. Low Voltage Cables & Accessories Market Characteristic
3. Low Voltage Cables & Accessories Market Trends And Strategies
4. Low Voltage Cables & Accessories Market - Macro Economic Scenario
5. Low Voltage Cables & Accessories Market Size And Growth
……………
27. Low Voltage Cables & Accessories Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Low Voltage Cables & Accessories Market
29. Low Voltage Cables & Accessories Market Future Outlook And Potential Analysis
30. Appendix
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