India Low Voltage Cable Market is Expected to Drive Industrial Vertical by 2028
The Low
Voltage Cable Market is expected to grow as there is an increase in the
government initiatives, during the forecast period of 2024-2028.
According to
TechSci Research report, India Low Voltage Cable Market– By Region,
Competition Forecast and Opportunities, 2018–2028, the India Low Voltage
Cable market is expected to register a robust growth during the forecast
period, 2024-2028. The industrial vertical drive low voltage cable market in
India refers to the segment of the low voltage cable market that caters to the
needs of industrial vertical drive applications. Industrial vertical drive
refers to the use of electric motors for industrial machinery and equipment,
such as pumps, compressors, fans, and conveyors.
The demand for
low voltage cables in industrial vertical drive applications is growing due to
the increasing focus on energy efficiency, reliability, and safety in the
industrial sector. These cables are designed to withstand harsh industrial
environments, provide high performance, and ensure safe and reliable power
transmission.
The Indian
market for industrial vertical drive low voltage cables is highly competitive,
with the presence of both domestic and international players. Some of the key
players in the Indian market for industrial vertical drive low voltage cables
such as Polycab, KEI Industries, Havells India, Finolex Cables, and RR Kabel.
The market is
driven by factors such as increasing industrialization, infrastructure
development, and the adoption of automation and Industry 4.0 technologies in
the manufacturing sector. Moreover, the growing demand for renewable energy and
electric vehicles is expected to boost the demand for low voltage cables during
the forecast period.
However, the
market is also facing challenges such as the fluctuating prices of raw
materials, the high cost of advanced technologies, and the presence of
counterfeit products. To remain competitive, manufacturers are investing in
research and development to develop innovative products that meet the specific
requirements of industrial vertical drive applications.
With the Indian
government's focus on increasing renewable energy capacity, there has been a
significant increase in the demand for low voltage cables for solar power
plants and wind turbines. The Indian government's push for infrastructure
development has led to an increase in demand for low voltage cables for various
applications such as power transmission and distribution, construction, and
manufacturing. The low voltage cable market in India is witnessing a shift
toward advanced technologies such as smart cables, which can provide real-time
information about the cable's condition, temperature, and load capacity. Major
players in the Indian low voltage cable market are investing in research and
development to develop innovative products that can withstand harsh
environmental conditions and have better durability and reliability. The Indian
government has launched various initiatives to boost the manufacturing sector,
which has a positive impact on the low voltage cable market. For instance, the
'Make in India' initiative aims to promote manufacturing and attract foreign
investment in the country.
Browse over 30
market data Figures spread through 70 Pages and an in-depth TOC on "India Low Voltage Cable Market.”
IoT sensors are
used to monitor various parameters of low voltage cables, such as temperature,
current, voltage, and insulation resistance. The data collected from these
sensors is transmitted to a cloud-based platform, where it is processed and
analyzed using data analytics tools. This enables the detection of
abnormalities and faults in the cable, allowing for timely maintenance and
repair.
Data analytics
tools can provide real-time insights into the condition of the low voltage
cables, enabling predictive maintenance and reducing the risk of unexpected
downtime. This can also help in reducing maintenance costs and increasing the
lifespan of the cables.
Additionally,
the integration of IoT sensors and data analytics can help in improving safety
by detecting potential safety hazards and preventing accidents. For example, by
monitoring the temperature of low voltage cables, it is possible to detect
overheating, which can lead to a fire.
The adoption of
smart technologies in the low voltage cable market is expected to increase in
the coming years due to the growing demand for reliable and efficient power
distribution systems. This trend is also being driven by the increasing
adoption of renewable energy sources and the need for a smarter and more
resilient power grid.
Low Voltage
Cable market is segmented based on installation, overhead product, underground
product, and end-users. On the basis of installation, the market is further
bifurcated into overhead and underground. Based on overhead product, the market
is further segmented into conductors, fittings and fixtures, and others. Based
on underground product, the market is further divided into PVC cables, XLPE
cables, cable terminations, cable joints, and others. Based on end-users, the
market is further divided into infrastructure, industrial, and renewables.
Key market
players in the India Low Voltage Cable market are:
- Polycab Wires
Pvt. Ltd.
- Sterlite
Technologies Ltd.
- Finolex Cables
Ltd.
- Havells India
Ltd.
- RR Kabel
- Diamond Power
Infrastructure Ltd.
- KEI Industries
Ltd.
- Gupta Power
Infrastructure Ltd.
- Universal
Cables Ltd.
- V-Guard
Industries Ltd
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“The Low
Voltage Cable market in India has been growing steadily in recent years due to
various factors. The integration of smart technologies such as IoT sensors and
data analytics is increasingly being adopted to improve cable monitoring and
maintenance in the low voltage cable market. These technologies offer several
benefits, including increased efficiency, reduced downtime, improved safety,
and cost savings, and is thereby expected to positively influence the low
voltage cable market in the country in the coming years,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India Low
Voltage Cable Market By Installation (Overhead, and Underground), By Overhead
Product (Conductors, Fittings and Fixtures, Others), By Underground Product
(PVC Cables, XLPE Cables, Cable Terminations, Cable Joints, Others), By
End-users (Infrastructure, Industrial, and Renewables), By Region, Competition,
Forecast and Opportunities, 2028” has
evaluated the future growth potential of India Low Voltage 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 take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Low Voltage Cable market.
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