"Actionable Insights to Fuel Your Growth"

Low Voltage Cable Market Size, Share and Industry Analysis, By Installation (Overhead, Underground), By voltage (1V-240V, 241V-440V, 441V-1000V), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2019-2032

Last Updated: September 16, 2024 | Format: PDF | Report ID: FBI101642

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global low voltage cable market size was USD 93.39 billion in 2018 and is projected to reach USD 235.75 billion by 2032, exhibiting a CAGR of 6.91% during the forecast period. In recent years there has been an exponential rise in electricity consumers over the globe which has driven the low voltage cable installation. New infrastructures, the introduction of renewable like solar and wind, have added boost to the market. 


These cables are the cables which act as the final step in the supply of electricity from the utility. After voltage adjustment in the transformers as per the requirement, these lines run overhead or underground to the end-user. Low voltage cable type includes variations in the materials being used for the manufacturing of cables. In most cases, copper and aluminum are the materials considered for their manufacturing. The growing demand for energy has led to an increase in petroleum and natural gas industries, mining activities, which has a considerable impact on this market.


MARKET TRENDS


Request a Free sample to learn more about this report.


Adoption of Renewable Resources for Power Generation Drives Low Voltage Cable Market


In recent years, the rising population has surged the demand for power across the globe. This has brought in renewable sources for energy production to suffice the power demand. The adoption of renewable energy leads to the lying of new transmission and distribution lines from utility to end-users. Also, setting up rooftop solar panels to satisfy the electricity demand of a single house requires the setting of new low voltage lines. These cables support has helped the increased renewable energy adoption, and this trend is set to continue during the forecast period and therefore help the LV cable market to grow at a healthy rate.


Growing Infrastructure Opens Up Doors of Opportunities for LV Cable Market


The growing population and urbanization across various regions have led to the construction of new residential buildings and commercial offices. These new constructions certainly require a smooth supply of electricity and are therefore boosting the low voltage cable market growth. This cable lighting is being preferred in these constructions owing to their safety and economic advantages. Besides this, the renovation work of old constructions being carried out requires replacement of electricity supply networks, which drives LV cable demand.


MARKET DRIVERS


Introduction and Adoption of Advanced Technologies will AugmentGrowth


With the introduction of new electronics technologies that simplify the working of an organization, the market for these cables has gained pace. For example, the internet services, which are mandatory for any organization to work smoothly, power supply for computers being installed for working, camera surveillance that has become an important factor in terms of security, separate generator set installations, and others. These all, coupled with the Internet of things, have helped this market positively.


Rising Demand for Energy Directly Drives LV cables Market


Apart from being used in residential and commercial applications, low voltage cable are also mandatory in various industrial processes that have equipment working on low voltages. A rising number of small scale industries over the last decade has driven the market. Petroleum industries, natural gas stations, and fueling stations all require LV supply lines. The mining industry requires equipment that works on low voltage, and therefore mining activities also cater to the market growth of these cables. 


MARKET RESTRAINT


Volatility in Raw Materials Price and Undue Electricity Losses Can Hinder Market Growth


Low voltage cable require a very high conductivity as they carry the regulated voltage from transformers to the end use sectors. Aluminum and copper being the majorly used metals for cables, any change in the price of these metals has a direct impact on the price of cables per meter, and therefore the global market. Losses during transmission also negatively impact market growth. Additionally, the implementation of low voltage cable roll out programs requires a huge investment to make electricity available at the required location. These factors can hamper the market growth during the given forecast period.


SEGMENTATION


By Installation Analysis


Operational Advantages of Underground Cabling will Surge its Market Growth


Based on the installation, the market of low voltage cable is segmented into overhead and underground. Underground cabling gives the advantage of more safety and good aesthetics as compared to the overhead segment. Also, underground cabling has higher insulation than overhead cables, and therefore there are less chances of any damage. Overhead cables segment, on the other hand, occupy a major share now, but with a switch from overhead lines to underground lines, this segment will witness a downfall in the coming years. Therefore, the underground segment is estimated to dominate the market during the forecast period.


By Voltage Analysis


Up to 240V Will Dominate Market Owing to Major Deployment in Residential Sector


Based on voltage, the market of low voltage cable is segmented into up to 240V, 241V-440V, and 441V-1000V. Among these, up to 240V currently dominates the market, and this trend is set to continue over the forecast period as this is the sufficient voltage required for the residential sector. Using this voltage range, most of the appliances and electrical equipment operate easily, and therefore this voltage level is sufficient for any of the residential buildings to operate. Also, with new low voltage appliances being introduced for household applications, the segment is expected to grow significantly in the coming years.


By Application Analysis


To know how our report can help streamline your business, Speak to Analyst


Growing Customers in Residential Sector Will Lead to Its Domination in the market 


In terms of application, the market is segmented into residential, commercial, and industrial. The residential sector will dominate the market as it holds the highest customer base in terms of the consumption of electricity. Certain plans are being brought up to make sure every house in the country gets access to electricity, and this certainly drives the segment growth. The residential sector has an operating voltage of up to 240V, which holds the lion share in the market. Additionally, the rising urbanization has led to the construction of new residential buildings to accommodate this moving population in urban areas. Following the residential sector, the commercial sector is the 2nd major application sector. The industrial sector uses the voltage range from 241V-1000V. 


REGIONAL ANALYSIS


Asia Pacific Low Voltage Cable Market Size, 2018 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market size of low voltage cable in the Asia Pacific stood at USD 34.25 billion in 2018. The market in the region has witnessed a tremendous hike in recent years following the impeccable rise in population and urbanization in countries like China, India, South Korea, and Japan. This has led to increased construction activities, and therefore demand for electricity has grown. The adoption of renewable has also impacted the LV cable market as new transmission lines are required for solar and wind. Following Asia Pacific, North America and Europe are the other two major regions for the LV cable industry.


In North America, the electronics industry has been driving the LV cable market, with the region being home to the top electronic companies around the world. In Europe, the adoption of renewable and upgradation of present grids has been the driving factor for the market. Latin America and the Middle East and Africa markets are expected to witness a healthy growth, with electrification plans being rolled out in many of the countries. Brazil and Mexico are the leading nations in Latin America and GCC countries that will lead the market in the Middle East and Africa.


KEY INDUSTRY PLAYERS


ABB, Prysmian Group and NexansEmerge as Leading Players with Diverse Portfolio


The competitive landscape of this market is dominated by ABB, Prysmian Group, and Nexans. A widespread geographical presence in various parts of the world, along with higher brand value as compared to other players, has been the prominent factors supporting the dominance of the companies mentioned above. The presence of a diverse product portfolio has also enhanced the sales of these companies in recent years. 


However, regional and domestic low voltage cable manufacturers such as Riyadh Cables Group Company, Polycab India, Finolex Cables, Encore Wire Corporation, and others have entered the market and are investing in various advancements to improve the performance standards. This is projected to positively impact the market to gain more market revenue during the forecast period.


LIST OF KEY COMPANIES PROFILED:



  • Prysmian Group (Italy)

  • ABB (Switzerland)

  • Nexans (France)

  • General Cable (U.S.)

  • NKT Cables(Denmark)

  • Encore Wire Corporation (U.S.)

  • Finolex Cables (India)

  • Bahra Cables Company(Saudi Arabia)

  • BRUGG Cables (Switzerland)

  • Riyadh Cables Group Company (Saudi Arabia)

  • Polycab India  (India)

  • KEI Industries (India)


KEY INDUSTRY DEVELOPMENTS:



  • In July 2021, UK’s Northern Powergrid announced a five-year grid digitalization and decarbonization plan worth USD 321.5 million to help the company speed up its transition to the distribution network operator. Around USD 8.2 million are allocated to analyze and replace obsolete low voltage cables.

  • In July 2021, An International Atomic Energy Agency (IAEA) team of experts completed a review of the long-term operational safety of units 5 and 6 of the Kozloduy nuclear power plant in Bulgaria. The team assessed the plant's preparedness, organization, and programs related to long-term operation (LTO) against IAEA safety standards. The team specifically monitored the condition of low voltage cables and verified if important cables are still reliable.

  • In July 2021, Mozambique's publicly owned electricity company, EDM, initiated the replacement of obsolete cables and pylons for 7 kilometers in the inner Maputo neighborhood of Malhangalene to improve the quality of power reaching consumers. The initiative worth USD 126,000 will completely replace low voltage cables and metallic pylons, with insulated cables and concrete pylons.

  • In June 2021, Zest WEG entered into a supply agreement with Anglo American Platinum, to install a range of electric control and instrumentation equipment for Mogalakwena mine’s North Concentrator Plant in Limpopo province. About 70 km of low voltage and medium voltage cable will be laid for the project.


REPORT COVERAGE


An Infographic Representation of Low Voltage Cables Market

To get information on various segments, share your queries with us



The low voltage cable market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.


Report Scope & Segmentation











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



By Installation



  • Overhead

  • Underground



By Voltage



  • Up to 240V

  • 241V – 440V

  • 441V - 1000V



By Application



  • Residential

  • Commercial

  • Industrial



By Geography



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Russia, Poland, Ukraine,  and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, Argentina, Venezuela, and the Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, Egypt, Iran, and the Rest of Middle East & Africa)






Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 93.39 billion in 2018 and is projected to reach USD 155.52 billion by 2026.

In 2018, the market value stood at USD 93.39 billion.

Growing at a CAGR of 6.7%, the market will exhibit healthy growth in the forecast period (2019-2026).

The residential segment is expected to be the leading segment in this market during the forecast period.

The introduction of renewable is fuelling the demand for LV cable.

Prysmian Group, ABB, and Nexansare among the leading players in the global market.

The Asia Pacific dominated the market share in 2018.

The increasing population has led to new construction in various sectors and therefore fueling LV cable market growth.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • REPORT UPDATE
    IN PROCESS
  • 2019-2032
    (In Process)
  • 2023
    (In Process)
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X