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Low Voltage Cables & Accessories Market: Evaluating Market Size, Growth Drivers, Key Players, and Emerging Trends
Low Voltage Cables & Accessories Market
• The low voltage cables & accessories market size has grown from $165.73 billion in 2024 to $175.53 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. This surge can be attributed to electrification of rural areas, telecommunications expansion, residential construction, safety standards and regulations, electrified transportation.
• The market size is expected to surge to $229.33 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. This predicted growth can be traced to electric vehicle charging infrastructure, smart cities initiatives, decentralized energy generation, the growth of e-commerce, environmental sustainability.
What Is Driving The Growth In The Low Voltage Cables & Accessories Market?
The noticeable growth in the low voltage cables and accessories market can be credited to the increasing demand for electricity worldwide. Boosting economic growth in developing countries, growing household incomes, the electrification of transportation, and the surge in demand for digitally connected devices are all contributing towards global electricity demand growth. The enhanced demand for electricity is predicted to amplify the utilization of low-voltage cables and accessories, which acts as a main component for secondary distribution of electricity to various industrial and household components. For instance, the International Energy Agency reported in September 2024, total net electricity production rose to 902.8 TWh, marking a 5.4% increase compared to the same period a year back. This rising electricity demand is anticipated to contribute towards the growth of low-voltage cables and accessories in the coming years.
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Who Are the Key Players Driving Low Voltage Cables & Accessories Market Growth?
• Prysmian S.P.A.
• Nexans S.A.
• Sumitomo Electric Industries Ltd.
• NKT Cables Group GmbH
• ABB Ltd.
• Encore Wire Corporation
• Finolex Cables Limited
• Polycab Wires Pvt. Ltd.
• Riyadh Cables Group Company
• Hellenic Cables Holdings S.A.
• Ensto UK Ltd.
• Elsewedy Electric Co. S.A.E.
• Ikebana Engineering Ltd.
• Raychem Rpg(P) Ltd.
• Alcon Megarad Inc.
• Te Connectivity Ltd.
• Repl International Ltd.
• 3M Company
• Hitachi Energy Ltd.
• BBC Cellpack Gmbh
• Southwire Company LLC
• LS Cable & System Ltd.
• Furukawa Electric Co. Ltd.
• Leoni AG
• KEI Industries Limited
• Belden Inc.
• Lapp Group
• Caledonian Cables Ltd.
• Tratos Ltd.
What Are The Key Trends In The Low Voltage Cables & Accessories Market?
• 5G network expansion
• Digitalization and automation
• Data center expansion
• Infrastructure modernization
• Energy storage solutions
What Are The Segments Of The Global Low Voltage Cables & Accessories Market?
• Product: Overhead Products, Underground Products
• Voltage: Up to 240V, 241V - 440V, 441V - 1000V
• Material: Copper, Aluminum
• End-User: Commercial, Residential, Industrial
Which Region Leads The Low Voltage Cables & Accessories Market?
Asia-Pacific dominated the low voltage cables & accessories market share in 2024 and is expected to be the fastest-growing region in the projected period. This report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa in the low voltage cables & accessories market.
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What Is Covered In The Low Voltage Cables & Accessories Market Global Market Report?
• Market Size Analysis: Analysis of the Low Voltage Cables & Accessories Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identification of various subsegments within the Low Voltage Cables & Accessories Market for effective categorization.
• Key Player Focus: Examination of key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Insight into individual growth trends and prospects in the Market.
• Market Contribution: Evaluation of contributions of different segments to the overall Low Voltage Cables & Accessories Market growth.
• Growth Drivers: Detailing of key factors influencing market growth, such as opportunities and drivers.
• Industry Challenges: Analysis of challenges and risks affecting the Low Voltage Cables & Accessories Market.
• Competitive Developments: Examination of competitive developments, like expansions, agreements, and new product launches in the market.
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