Global low voltage cable market is anticipated to grow at a CAGR of 5.8% during the forecast period (2024-2031). An enhanced focus on improving and expanding existing electrical networks is contributing substantially to the growth of the global low voltage cable market. Low voltage cables are central to the goal of ensuring safe and efficient energy distribution, and their importance cannot be overstated in the context of upgrading older power systems. Aging infrastructure often struggles with inefficiencies and can pose safety risks, thus necessitating immediate modernization. The process of upgrading these systems to meet current standards and demands requires the integration of modern technology, including LV cables, to ensure stability, reliability, and compliance with regulatory requirements. Governments and private entities are investing in infrastructure development projects, recognizing the crucial role that LV cables play in these endeavors. By fostering innovation and implementing stringent quality standards, the industry is working to meet the diverse and complex needs arising from the modernization of various infrastructures.
Browse the full report description of “Low Voltage Cable Market Size, Share & Trends Analysis Report by Installation Type (Overhead, and Underground), by Overhead Product (Conductors, and Fittings and Fixtures), by Underground Product (PVC Cables, XLPE Cables, Cable Terminations, and Cable Joints), and by End-Users (Infrastructure, Commercial, and Renewable) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/low-voltage-cable-market
According to the International Energy Agency (IEA), the global electricity demand will increase by 2.1% annually by 2040 under the stated policy scenario. Additionally, it is predicted that from 19.0% in 2018 to 24.0% in 2040, electricity will make up a more significant percentage of total energy consumption. Additionally, according to the UN, by 2030 and 2050, the world's population will be about 8.5 billion and 9.7 billion, respectively. Population growth worldwide causes an increase in both demand for and consumption of electricity. The need for electricity infrastructure can therefore be interpreted as increasing along with the electricity demand. As a result, the rising electricity demand is anticipated to propel the growth of the global low voltage cables market.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Installation Type
o By Overhead Product
o By Underground Product
o By End-Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Brugg Kabel AG, Hellenic Cables, NKT A/S, and Prysmian S.p.A , among others.
Key questions addressed by the report.
Global Low Voltage Cable Market Report Segment
By Installation Type
By Overhead Product
By Underground Product
By End-Users
Global Low Voltage Cable Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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