Low voltage cable market

Market Overview:
Low voltage power cable forms an essential component for secondary distribution of power at
voltage less than 1 kV. Various types of low voltage accessories include fittings and fixtures,
cable joints, cable terminations, among others that are employed for cable installations in
overhead and underground installations. The global low voltage cable and market was worth
USD 119 billion in 2018 and is estimated to reach USD 167 billion at a CAGR of 7.9% in the
forecast period 2018 to 2023.
Market drivers and restraints:
Rising production of renewable power along with growth in industrialization are the major
factors that drive the growth of this market. Moreover, government incentives to expand or
upgrade the transmission & distribution (T&D) system is another factor fueling the growth of
the market. Lack of funding make the market volatile along with significant delay in
authorization of different T&D projects owing to complexity in planning are major restraining
factors that hinders the growth of the market. Rising demand in power along with different
wind power policies in various countries are the factors that would offer abundant growth
opportunities to the market.
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Report segmented as:
By installation:
By overhead:
Fittings and fixtures
By underground:
PVC cables
XLPE cables
Cable terminations
Cable joints
By end user:
Geographical analysis:
Asia-Pacific has emerged as one of the key low voltage cable markets in the recent years. The
increase in energy demand related to urbanization, economic modernization, and better living
standards across the region has led to the growth of sustainable power systems that in turn
increased the demand for low voltage cable market in this region.
Important market players:
Key players in the market are Prysmian S.P.A (Italy), Nexans S.A. (France), General Cable
Corporation (U.S.), Sumitomo Electric Industries (Japan), NKT Cables Group GmbH (Germany),
ABB Ltd. (Switzerland), Encore Wire Corporation (U.S.), Finolex Cables Limited (India), and
Polycab Wires Pvt. Ltd. (India).
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation
of the market. It helps us understand the market better through size anticipation and CAGR
calculation to estimate the next market. It has a broader segmentation for better
understanding of the enterprising of the market at a low level by segregating the market into
smaller sectors.
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