Global
Low Voltage Cable Market is expected to grow at a robust CAGR during the
forecast period. Low voltage cable is a type of electrical cable designed to
transmit electrical power or signals at a low voltage level, typically between
50 and 1000 volts. These cables are commonly used in a wide range of
applications, including residential and commercial buildings, industrial
plants, and telecommunications networks.
Low
voltage cables come in various sizes, types, and configurations, depending on
the specific application and the required voltage level. Some common types of
low voltage cables include power cables, control cables, instrumentation cables
and communication cables Power cables are used to transmit electrical power
from one location to another, typically between power stations, substations,
and distribution points. Control cables are used to transmit signals and
control commands between different devices and equipment, such as motors,
sensors, and switches. Instrumentation cables are used to transmit signals from
measuring instruments, such as temperature, pressure, and flow sensors, to
monitoring and control systems. Communication cables are used to transmit data
and voice signals in telecommunication networks, such as telephone and internet
systems. Low voltage cables can be made of various materials, including copper,
aluminum, and fiber optic. Copper is the most common material used in power and
control cables, while fiber optic cables are used for high-speed data transmission
in communication networks.
Overall,
low voltage cables are essential components of modern electrical and
telecommunication systems, providing reliable and efficient transmission of
power and signals over long distances.
Rising
incorporation of smart grid networks
The
incorporation of smart grid networks is expected to drive the growth of the
Global Low Voltage Cable Market. Smart grid networks require a reliable and
efficient transmission and distribution of electricity, which can be
facilitated using low voltage cables.
Low
voltage cables are used for transmitting electricity from distribution
transformers to various end-users such as residential, commercial, and
industrial consumers. With the increasing adoption of renewable energy sources,
such as solar and wind, and the growing demand for energy-efficient solutions,
the demand for low voltage cables is expected to increase.
In
addition, the development of smart cities and the increasing need for real-time
monitoring and control of power distribution systems is driving the adoption of
smart grid networks, which require advanced low voltage cables. These cables
are designed to handle high current loads, withstand harsh environments, and
provide reliable power transmission.
Furthermore,
the increasing focus on upgrading aging infrastructure and improving the
reliability and efficiency of power distribution systems is also driving the
demand for low voltage cables. Governments around the world are investing in
upgrading their power infrastructure, which is expected to drive the growth of
the global low voltage cable market.
Overall,
the incorporation of smart grid networks is expected to drive the growth of the
global Low Voltage Cable Market, as these networks require advanced low voltage
cables that can handle high current loads, withstand harsh environments, and
provide reliable power transmission.
Growing
demand for uninterrupted power supply is primarily driving the global low
voltage cable market
Low
voltage cables are an essential component of power distribution systems, and
they are used to transmit electrical power from one point to another at low
voltage levels. With the increasing demand for uninterrupted power supply, the
demand for low voltage cables has also been increasing.
Uninterrupted
power supply (UPS) is critical for many applications, including data centers,
hospitals, manufacturing facilities, and other commercial and industrial
operations that require a continuous power supply. The growing reliance on
electronic devices and the increasing need for backup power solutions have
contributed to the growth of the UPS market, which, in turn, has boosted the
demand for low voltage cables.
Moreover,
the growth of renewable energy sources such as solar and wind power has also
contributed to the demand for low voltage cables. These sources of energy
require low voltage cables for their distribution and transmission. In
conclusion, the growing demand for uninterrupted power supply is one of the
major factors driving the global low voltage cable market.
Raw
Material Price Volatility of Low Voltage Cable
The
global low voltage cable market is susceptible to raw material price
volatility, as the cost of materials such as copper and aluminum can have a
significant impact on the overall cost of production. Copper and aluminum are
commonly used as conductors in low voltage cables, and their prices can
fluctuate based on a variety of factors such as supply and demand, geopolitical
events, and changes in global economic conditions.
In
recent years, there have been instances where the prices of copper and aluminum
have experienced significant fluctuations, which has had a direct impact on the
global low voltage cable market. When raw material prices increase,
manufacturers may need to increase the prices of their products to maintain
profitability, which can reduce demand for low voltage cables in the market.
Conversely, when raw material prices decrease, manufacturers may be able to
offer lower prices, which can increase demand for low voltage cables.
To
mitigate the impact of raw material price volatility, manufacturers may employ
various strategies such as hedging, sourcing raw materials from different
suppliers, or exploring alternative materials that may be less susceptible to
price fluctuations. Additionally, manufacturers may also need to adjust their
pricing strategies and supply chain management practices to adapt to changing
market conditions.
Growing
Demand for Underground Low Voltage Cables
An
underground low voltage cable is a type of electrical cable designed for use in
underground applications where a lower voltage is required. These cables are
typically used to transmit electricity from a power source to various
electrical devices and equipment, such as lights, motors, and appliances.
Underground
low voltage cables are generally made up of a series of insulated conductors
that are wrapped in a protective sheath. The insulation on the conductors
serves to prevent electrical current from escaping and meeting the surrounding
environment. The sheath helps to protect the cables from damage caused by
moisture and chemicals.
Low
voltage cables are typically used in residential, commercial, and industrial
settings as they are used to power lighting systems, heating and cooling
systems, and other electronic devices. Low voltage cables are also commonly
used in telecommunications systems, where they are used to transmit data
signals between devices.
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Some
of the recent developments are:
Some
of the recent mergers and acquisitions in the global low voltage cable
industry.
- In
2021, Nexans announced the acquisition of a controlling stake in a
Brazilian company, Efacec do Brasil, which, is a manufacturer of power
transformers and low voltage cables.
- In
2020, Prysmian Group announced the acquisition of EHC Global's
electrification business, which includes the production of low voltage
cables and systems for elevators and escalators.
Market
Segmentation
Based
on Installation, the market is segmented into Overhead, and Underground. Based
on Overhead Product, the market is segmented into Conductors, Fittings and
Fixtures, Others. Based on Underground Product, the market is segmented into
PVC Cables, XLPE Cables, Cable Terminations, Cable Joints, Others. Based on
End-User, the market is segmented into Infrastructure, Industrial, and
Renewables.
Company
Profiles
The
Global Low Voltage Cable market is a growing industry and is becoming
increasingly competitive. This has led to the emergence of new players in the
market and increased competition among existing companies. This trend has led
to the development of new technologies and solutions for low voltage cables,
further increasing competition in the market.
Some
of the major players in the Global Low Voltage Cable Market include Prysmian
Group, Nexans S.A, General Cable, ABB Group, Sumitomo Electric Industries, NK
Communications, Encore Wire Corporation, Finolex Cables, TE Connectivity,
Caledonian Cables, Polycab Wires, Leoni AG, Southwire Company, LLC, Wanda Group
and Hangzhou Cable.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historical
Years
|
2018 –
2021
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024 – 2028
|
|
Quantitative
Units
|
Revenue
in USD Billion and CAGR for 2018-2022 and 2023E-2028F
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
By Installation
By Overhead
Product
By Underground
Product
By
End-User
By Region
|
|
Regional
Scope
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Asia-Pacific,
North America, Europe, Middle East & Africa, and South America
|
|
Country
Scope
|
China, Japan, India, Australia, South Korea, United States,
Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel,
Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia
|
|
Key
Companies Profiled
|
Alumasc Group Plc, Bauder Ltd., Binderholz GmBH, Certain Teed
Corporation, Forbo International SA, Clark Group, The Turner Corp., Hensel
Phelps, Gilbane Building Co., and The Whiting-Turner Contracting Co.
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|
Customization
Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail of customized
purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/pdf format
on special request)
|
Report
Scope:
In this report,
the Global Low Voltage Cable Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- Low Voltage Cable Market, By
Installation:
- Low Voltage Cable Market, By
Overhead Product:
- Conductors
- Fittings and Fixtures
- Others
- Low Voltage Cable Market, By
Underground Product:
- PVC Cables
- XLPE Cables
- Cable Terminations
- Cable Joints
- Others
- Low Voltage Cable Market, By
End-User:
- Infrastructure
- Industrial
- Renewables
- Low Voltage Cable Market, By
Region:
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Middle East & Africa
- Israel
- Turkey
- Saudi Arabia
- UAE
- South America
- Brazil
- Argentina
- Colombia
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Low Voltage Cable Market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
Detailed
analysis and profiling of additional market players (up to five).
Global Low Voltage Cable Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]