Low Voltage Cable Market Size & Forecast Report - 2025 to 2030

The global low voltage cable market size is anticipated to register a significant CAGR of around 7% during the forecast period 2021 to 2027. The expansion of the electric distribution networks and the growing urbanization across the globe are some of the major factors to drive the market growth. Furthermore, the growth in industrialization, robust growth in the renewable energy sector, and government initiatives are further expected to boost the market growth over the forecast period. Moreover, the rising demand for energy, growing infrastructural activities, and the adoption of advanced technologies are expected to propel the market. However, fluctuating raw material prices, delays in electric distribution projects, and slow economic growth are some factors to restrain the market growth.

Market Drivers:

Increasing Demand for Electricity: The growing demand for electricity across various sectors, including residential, commercial, and industrial, drives the need for low voltage cables. These cables are essential for the safe and efficient transmission and distribution of electrical power to end-users. Factors such as urbanization, population growth, and industrialization contribute to the increasing demand for electricity and, in turn, drive the demand for low voltage cables.

Infrastructure Development: Infrastructure development projects, such as construction of residential buildings, commercial complexes, educational institutions, healthcare facilities, and transportation networks, require extensive electrical wiring and distribution systems. Low voltage cables are crucial components for these projects, enabling the safe and reliable supply of electricity to support various infrastructure requirements. The growth in infrastructure development activities fuels the demand for low voltage cables.

Renewable Energy Integration: The global shift towards renewable energy sources, such as solar and wind power, necessitates the installation of new electrical systems and infrastructure. Low voltage cables are used to connect renewable energy sources to the grid and distribute the generated power. The increasing deployment of renewable energy systems and initiatives to reduce reliance on fossil fuels drive the demand for low voltage cables in the renewable energy sector.

Technological Advancements: Technological advancements in low voltage cable manufacturing have led to improved performance, durability, and efficiency. Innovative materials, such as cross-linked polyethylene (XLPE) and high-density polyethylene (HDPE), offer enhanced electrical and mechanical properties. Advanced cable designs and manufacturing processes enable higher current-carrying capacities, reduced transmission losses, and increased reliability. These technological advancements drive the adoption of low voltage cables.

Increasing Safety and Quality Standards: Safety and quality standards play a crucial role in the selection and installation of electrical cables. Governments and regulatory bodies enforce standards and certifications to ensure the safety of electrical installations and protect against fire hazards. Low voltage cables that comply with these standards and offer reliable performance, fire resistance, and insulation properties are preferred by end-users. The emphasis on safety and adherence to quality standards drives the demand for certified low voltage cables.

Industrial Automation and IoT Integration: The increasing adoption of industrial automation and the integration of Internet of Things (IoT) devices in various sectors require robust and reliable electrical connectivity. Low voltage cables provide the necessary power and signal transmission for automation systems, control panels, sensors, and IoT devices. The growth of industrial automation and the implementation of smart technologies drive the demand for low voltage cables in industrial applications.

Increasing Focus on Energy Efficiency: Energy efficiency is a key consideration for organizations and governments worldwide. Low voltage cables with low transmission losses and high-efficiency ratings contribute to overall energy conservation efforts. These cables help minimize energy wastage during transmission and distribution, supporting the goal of reducing carbon emissions and improving energy efficiency. The emphasis on energy conservation drives the demand for energy-efficient low voltage cables.

Replacement and Upgrading of Aging Infrastructure: Aging electrical infrastructure and the need for system upgrades drive the replacement and upgrading of low-voltage cables. Over time, cables may deteriorate, leading to power losses, increased maintenance costs, and potential safety hazards. The replacement and upgrading of low voltage cables with modern, more efficient, and reliable alternatives are necessary to ensure the integrity and performance of electrical systems.

Increasing Investments in Smart Grids and Electric Vehicle Infrastructure: Investments in smart grid systems and electric vehicle (EV) infrastructure require the installation of new electrical networks and charging infrastructure. Low voltage cables are essential components in these applications, facilitating the reliable and efficient distribution of electricity. The growing adoption of smart grids and the expansion of EV charging networks drive the demand for low voltage cables.

Market Snapshot:

Market Insights:

The global low voltage cable market is bifurcated into installation, voltage, end-use, and geography. On the basis of installation, the market is further segmented into overhead and underground cables. The underground cables segment is accounted to grow at the highest CAGR over the forecast period. the increasing deployment of underground cables across the globe due to its advantage over the overhead cables is expected to drive the segment growth. Furthermore, the increasing number of electrification projects in various economies and growing rural electrification are further anticipated to fuel the segment growth over the forecast period.

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The low voltage cable comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The low voltage cable market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Installation:

• Overhead
• Underground

By Voltage:

• 1V-240V
• 241V-440V
• 441V-1000V

By End-Use:

• Infrastructure
• Industrial
• Renewables

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the Asia Pacific dominated the global low voltage cable market in 2020 and is estimated to hold the largest revenue share of over one-third percent of the market by the end of the analysis period. The increasing demand for energy coupled with the growing urbanization and better living standard is a major factor to drive the market growth in the region. Furthermore, the increasing investment in smart grid infrastructure and the growing electric distribution network is further anticipated to boost the market growth in the Asia Pacific. Moreover, the increasing number of smart cities and growth in the renewable energy sector is expected to drive the market growth over the forecast period.

Competitive Assessment

Some of the major market players operating in the global low voltage cable market are Prysmian SpA, KEI Industries Limited, NKT A/S, Cablel Hellenic Cables Group, and Brugg Kabel AG. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Prysmian SpA
• KEI Industries Limited
• NKT A/S
• Cablel Hellenic Cables Group
• Brugg Kabel AG.
• Encore Wire Corporation
• Finolex Cables Ltd
• Nexans S.A.
• Polycab Wires Pvt. Ltd
• Riyadh Cables Group of Companies

Key Questions Answered by Low Voltage Cable Market Report

• Global low voltage cable market forecasts from 2021-2027
• Regional low voltage cable market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Low voltage cable submarket forecasts from 2021-2027 covering the market by installation, by voltage, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about low voltage cable market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level low voltage cable markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the low voltage cable market