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Low Voltage Cables & Accessories Market Size, Growth Analysis, Trends And Outlook By 2024-2033
Low Voltage Cables & Accessories Market
The Business Research Company presents an extensive market research report on the ""Low Voltage Cables & Accessories Global Market Report 2024,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Low Voltage Cables & Accessories industry. This report on Low Voltage Cables & Accessories market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The low voltage cables & accessories market size has grown strongly in recent years. It will grow from $157.95 billion in 2023 to $168.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to electrification of rural areas, telecommunications expansion, residential construction, safety standards and regulations, electrified transportation. The low voltage cables & accessories market size is expected to see strong growth in the next few years. It will grow to $219.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
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Key Market Players:
Prysmian S.P.A., Nexans S.A., General Cable Corporation, Sumitomo Electric Industries Ltd., NKT Cables Group GmbH, ABB Ltd.
Market Drivers:
According to the Low Voltage Cables & Accessories Market Report 2024 by The Business Research Company, The rising electricity demand is expected to propel the low voltage cables and accessories market. 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.
More information about the Global Low Voltage Cables & Accessories Market Report -
https://www.thebusinessresearchcompany.com/report/low-voltage-cables-accessories-global-market-report
Market segments for Low Voltage Cables & Accessories include:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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