Global Low Voltage Cable Market to Grow at a CAGR of 4.4% During the Period 2024-2032, Driven by Suitability of Low Voltage Cables for Multiple Applications

The global low voltage cable market is likely to be driven by uses across industries; applications include those in water, distribution and power networks, nuclear and thermal power stations, renewable energy, airports, telecommunications, windmills, marine, defence, building, mining, railways, offshore, ship wiring, audio-visual and manufacturing industries, automation, etc. 

Low voltage cables are available in two types - alternating currents (AC) (typified by its episodic change of direction in the wire, which makes the current reverse its course; generally employed in businesses and homes and considered a safer alternative) and direct currents (DC) (such a current takes electricity on a direct course from source to destination; usually employed for batteries; considered for smaller projects due to the considerable reduction in energy over longer distances).

Low voltage cables may have an adjustable or firm structure, and are compacted, circular, or configured into a particular shape. Low voltage conductors may be made of plain or tinned copper, or solid or stranded aluminium. Low voltage cables employ insulating and shielding compounds such as XLPE, PVC, LSF/LSOH, and Elastomer compounds.

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North America and Europe are expected to witness low-voltage cable use in overhead and underground applications in residential and commercial buildings. Uses include doorbell, intercoms and entryphone, burglar alarm, computer networking, phones, TV and satellite aerial feeds, nightlighting, interconnected fire alarms, backup lighting, security cameras, music and video distribution, remote control, radio, and help call systems. Such uses are expected to boost market growth.

In Asia, digitization of the economy and technological penetration are expected to drive market growth. Philippines, Malaysia, Spain, Netherlands and India have emerged as key nations in terms of e-commerce retail growth. With growing emphasis of governments and adoption of digitization by businesses, and rapid urbanization in developing nations, the global low voltage cable market is expected to witness growth during the forecast period.  

Advantages of low voltage wiring are expected to help market growth. Advantages include greater speed, enhance energy efficiency, scalability, customization, and low risk of harm.  

Key Findings of the Report

• The global low voltage cable market is expected to be driven by uses of low voltage cables across segments. 

• Advantages offered by low voltage cables are likely to drive market growth.

• North America, Europe and Asia are projected to be key markets. 

Market Analysis by Installation, Material, Application and Region

• By installation, the market is segmented into Overhead (further broken down by type into Conductors, Fittings and Fixtures, and Others) and Underground (further broken down by type into PVC Cables, XLPE Cables, Cable Terminations, and Others).

• By material, the market is divided into Copper and Aluminium.

• By application, the market is classified into Residential, Commercial, and Industrial.

• By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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