Low Voltage DC Electric Cable Market to Grow with a CAGR of 7.19% through 2028
Rising demand for renewable energy sources and
Increasing adoption of DC microgrids are likely to drive the Market in the
forecast period.
According to TechSci Research report, “Low Voltage
DC Electric Cable Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Low
Voltage DC Electric Cable Market is experiencing a surge in demand in the
forecast period. One of the primary drivers of the global low voltage DC
Electric Cable Market is the integration of renewable energy sources into the
world's energy infrastructure. As countries and industries strive to reduce
their carbon footprint and transition away from fossil fuels, renewable energy
systems, such as solar panels and wind turbines, are becoming increasingly
prevalent. These systems generate direct current (DC) electricity, which
requires efficient cabling solutions for transmission and distribution. Low
voltage DC electric cables are well-suited for the task of transmitting power
from renewable energy sources to homes, businesses, and industries. Unlike
alternating current (AC), DC power experiences lower energy losses over long
distances, making it an ideal choice for transporting renewable energy
efficiently. As a result, the demand for low voltage DC electric cables is
surging in tandem with the growth of renewable energy installations. The global
shift toward renewable energy, driven by environmental concerns and the need
for sustainable energy solutions, ensures that the integration of renewable
sources will continue to be a significant driver for the low voltage DC
Electric Cable Market in the foreseeable future.
The rapid adoption of electric vehicles (EVs) is
another key driver propelling the global low voltage DC Electric Cable Market.
As the world seeks to reduce greenhouse gas emissions and transition to cleaner
transportation alternatives, the demand for electric cars, buses, and
two-wheelers is skyrocketing. These electric vehicles primarily use DC power
for charging and operation, creating a substantial need for specialized low
voltage DC electric cables. EV charging infrastructure, both at home and in
public spaces, relies on low voltage DC cables to deliver power efficiently and
safely to EVs. High-quality cables are essential to handle high currents, fast
charging speeds, and ensure the safety of users. Furthermore, the development
of fast-charging technologies, which require even more robust cables, is
amplifying the demand for advanced low voltage DC electric cable solutions. Governments
worldwide are promoting EV adoption through incentives, subsidies, and
ambitious targets for phasing out internal combustion engine vehicles. As a
result, the electric vehicle market is expected to experience significant
growth, directly benefiting the low voltage DC Electric Cable Market. The
ongoing expansion of EV fleets and charging infrastructure ensures that the demand
for these cables will remain robust in the years to come.
Browse over XX Market data Figures spread
through XX Pages and an in-depth TOC on "Global Low
Voltage DC Electric Cable Market.”
The Global Low Voltage DC Electric Cable Market is
segmented into voltage, installation type, end user and region.
Based on voltage, The Up To 240V segment held the
largest Market share in 2022. Low voltage DC electric cables in the "Up To
240V" range are widely used in residential and commercial applications.
These voltages are suitable for supplying power to common appliances, lighting
systems, and small-scale renewable energy installations, such as residential
solar panels. This ubiquity in everyday applications drives the demand for
cables in this voltage range. The growth of the electric vehicle (EV) market
has significantly contributed to the dominance of "Up To 240V" low
voltage DC electric cables. EVs typically use low voltage DC systems for
charging, and the voltage levels in this range are well-suited for home
charging stations and some public charging infrastructure. As EV adoption
continues to rise, so does the demand for cables compatible with these voltage
levels. Solar panels and small wind turbines often generate DC power at
voltages below 240V. These renewable energy systems are increasingly integrated
into residential and commercial properties. Low voltage DC electric cables
facilitate the efficient transmission of this power from the energy source to
storage or distribution points. Data centers, critical for the modern digital
economy, rely on low voltage DC electric cables for power distribution within
server racks and other equipment. Many data center configurations operate
within the "Up To 240V" voltage range to maximize energy efficiency
and reduce heat generation. Lower voltage levels (below 240V) are generally
considered safer for residential and commercial use, which is a crucial
consideration for electrical installations in these settings. Additionally,
using the "Up To 240V" category ensures compatibility with existing
electrical infrastructure and appliances, simplifying the adoption of low
voltage DC systems.
Based on installation type, The Underground segment
held the largest Market share in 2022. In urban and suburban areas, aesthetics
and space utilization are critical considerations. Underground cables are
hidden from view, reducing visual clutter and preserving the appearance of streets
and neighborhoods. This is particularly important in densely populated cities
where overhead cables and utility poles can be unsightly and impractical due to
limited available space. Underground
cables are less exposed to environmental factors such as severe weather, wind,
ice, and falling debris, which are common causes of outages in overhead
installations. This enhanced protection results in greater reliability of power
supply, making underground installations preferable for critical infrastructure
like hospitals, data centers, and businesses. Underground cables typically
require less maintenance compared to overhead cables. They are less susceptible
to damage from external forces, reducing the need for routine inspections and
repairs. Over time, this translates into cost savings for utility providers.
Underground installations are inherently safer because they are not easily
accessible to the general public. Overhead cables, if not properly secured or
guarded, can pose risks to people, vehicles, and wildlife. Underground cables
eliminate these safety concerns. Underground cables are better protected from
wear and tear caused by environmental factors and UV radiation. This protection
results in a longer service life, reducing the frequency of cable replacement,
which can be expensive and disruptive in overhead installations.
Major companies operating in the Global Low
Voltage DC Electric Cable Market are:
- Prysmian Group
- Nexans S.A.
- Sumitomo Electric Industries Ltd
- NKT A/S
- TE Connectivity Corporation
- Polycab India Ltd
- Belden Incorporated
- ABB Ltd
- General Cable Technologies Corp.
- Southwire Company, LLC
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“The Global Low Voltage DC Electric Cable Market is
expected to rise in the upcoming years and register a significant CAGR during
the forecast period. The key driver of the global low voltage DC Electric Cable
Market is the escalating demand for energy-efficient solutions. Businesses
worldwide are prioritizing energy efficiency to lower operational costs and
minimize environmental impact. Low voltage DC electric cables, designed for
efficient direct current (DC) power transmission, play a pivotal role in
achieving these objectives. They reduce energy losses during distribution and
enable the integration of renewable energy sources. As organizations seek to
optimize energy consumption and meet sustainability goals, the demand for low
voltage DC electric cables continues to rise, making energy efficiency a
central driver in the market's growth. Therefore, the Market of Low Voltage DC
Electric Cable is expected to boost in the upcoming years.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Low Voltage DC Electric Cable Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Voltage (Up To 240V, 241V-440V,441V-1000V), By Installation Type (Overhead,
Underground), By End User (Residential, Commercial, Industrial, Utilities,
Others), By Region, By Competition”, has evaluated the future growth potential of Global
Low Voltage DC Electric Cable Market and provides statistics & information
on Market size, structure and future Market growth. The report intends to
provide cutting-edge Market intelligence and help decision-makers make sound
investment decisions., The report also identifies and analyzes the emerging
trends along with essential drivers, challenges, and opportunities in the Global
Low Voltage DC Electric Cable Market.
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