Low Voltage Cable Market Size (2024 - 2029)

The low voltage cable market is experiencing growth driven by factors such as urbanization, the expansion of distribution networks, and robust construction activities in the commercial sector. The renewable energy sector's reliance on low voltage cables for applications like wind turbines and solar panel interconnections further propels market demand. Despite challenges like delays in transmission and distribution projects and slow global economic growth, the market's potential is bolstered by the increasing adoption of underground cables and rural electrification projects, particularly in Africa. The Asia-Pacific region is anticipated to lead the market, fueled by rising energy demands in China and India.

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Market Size of Low Voltage Cable Industry

Low Voltage Cable Market Forecast
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Low Voltage Cable Market Major Players

*Disclaimer: Major Players sorted in no particular order

Low Voltage Cable Market Analysis

The global low voltage cable market is expected to grow at a CAGR of more than 3% over the period of 2020-2025. Factors such as the growing urban population and expansion of distribution network to improve the electrification rate, along with the robust construction activity in the commercial sector, are driving the market demand. Moreover, the booming renewable industry incorporates the use of low voltage cables such as powering of vital equipment of a wind turbine and interconnections between solar panels and other photo-voltaic systems, which in turn is expected to drive the low voltage cable market. The challenge, however, is the delay in transmission & distribution (T&D) projects and slow economic growth globally, which is restraining the growth of the market.

  • The underground cable segment is to expected to be the fastest growing segmentfor the low voltage cable market during the forecast period, owing to its several advantages in comparison to overhead installations plus increasing adoption of underground cable deployment by several developing countries.
  • With rising electrification projects in Africa, low voltage cables are used to provide electricity from the distribution substations to the customer. The increasing rural electrification is expected to offer a tremendous opportunity for low voltage cables.
  • Asia-Pacific is expected to lead the market and also be the fastest growing market during the forecast period, driven by rise in energy demand associated with China and India, which are the major drivers of the low cable voltage market.

Low Voltage Cable Industry Segmentation

The low voltage cable market report include:

Type
Overhead
Underground
End-User
Commercial
Residential
Industrial
Geography
North America
Europe
Asia-Pacific
South America
Middle East & Africa
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Low Voltage Cable Market Size Summary

The low voltage cable market is poised for significant growth, driven by factors such as urbanization, expansion of distribution networks, and robust construction activities in the commercial sector. The renewable energy industry also plays a crucial role, with low voltage cables being integral to the operation of wind turbines and solar panel interconnections. However, challenges like delays in transmission and distribution projects and slow global economic growth may hinder market expansion. The underground cable segment is anticipated to experience the fastest growth due to its advantages over overhead installations, such as increased reliability and reduced annual faults. This trend is particularly evident in regions like Europe and North America, where there is a shift towards underground cabling in urban areas.

Asia-Pacific is expected to lead the market, driven by rising energy demand in China and India, and increasing investments in transmission and distribution networks and smart grid infrastructure. The region's focus on sustainable power systems and rural electrification projects further bolsters the demand for low voltage cables. Countries like India and Vietnam are actively replacing overhead cables with underground alternatives, enhancing market growth. The market is characterized by fragmentation, with key players including Prysmian SpA, NKT A/S, KEI Industries Limited, Cablel Hellenic Cables Group, and Brugg Kabel AG, all contributing to the competitive landscape.

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Low Voltage Cable Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Overhead

      2. 2.1.2 Underground

    2. 2.2 End-User

      1. 2.2.1 Commercial

      2. 2.2.2 Residential

      3. 2.2.3 Industrial

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 South America

      5. 2.3.5 Middle East & Africa

Low Voltage Cable Market Size FAQs

The Low Voltage Cable Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Prysmian SpA, NKT A/S, KEI Industries Limited, Cablel Hellenic Cables Group and Brugg Kabel AG are the major companies operating in the Low Voltage Cable Market.

Low Voltage Cable Report Snapshots

Low Voltage Cable Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)