Low Voltage Cables Market Scope
Low-voltage cable (also called structured wiring) is electrical wiring and trim that requires less current to power infrastructural technologies such as phones, security wires, fire alarms, intercoms, internet, etc. Low voltage wiring is a need for a business because they handle the most of its technology infrastructure.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Prysmian Group (Italy), ABB (Switzerland), Nexans (France), General Cable (United States), NKT Cables (Denmark), Encore Wire Corporation (United States), Finolex Cables (India), Bahra Cables Company (Saudi Arabia), BRUGG Cables (Switzerland) and Riyadh Cables Group Company (Saudi Arabia) |
CAGR | % |
The global market for low voltage cable is fragmented by the key players owing to rising demand for the low voltage household or commercial appliances and their maintenance for different kind of applications. The rising players should focus on R&D for enhanced material, insulation techniques, voltage overload and different safety accessories to grab the market share for growing digitization and growing consumer electronics market.
Prysmian Group (Italy), ABB (Switzerland), Nexans (France), General Cable (United States), NKT Cables (Denmark), Encore Wire Corporation (United States), Finolex Cables (India), Bahra Cables Company (Saudi Arabia), BRUGG Cables (Switzerland) and Riyadh Cables Group Company (Saudi Arabia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Polycab India (India), KEI Industries (India) and Others.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Low Voltage Cables market by Type , by Application (Residential, Commercial and Industrial) and Region with country level break-up.
On the basis of geography, the market of Low Voltage Cables has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In 2018, Italian cable manufacturer, Prysmian acquired General Cable Corporation, a global leader in the development, design, manufacturing of cables. This acquisition will strengthen the logistic infrastructure and distribution of aluminium, copper and fibre optic wire and cable products for the energy, communications, automotive, industrial, construction and specialty segments.
In May 2023, Nexans launched a new range of low-carbon distribution grid cables, the first on the French market. By adopting a holistic approach all along the value chain and throughout the cable life cycle, the Group has succeeded in reducing the greenhouse gas emissions of its low- and medium-voltage cables from 35% to 50%, depending on the products.
Influencing Trend:
Adoption of Renewable Resources for Power Generation
Market Growth Drivers:
Rising Demand for Energy in Different Applications and Introduction and Adoption of the Newly Developed Efficient Current Carriers
Challenges:
High Cost for Hiring A Master Electrician to Employ the Low Voltage Cables
Restraints:
Volatile Prices in Raw Material of Low Voltage Cable
Opportunities:
Rising Infrastructure for Electrically Controlled Open Up Doors in Different Industrial Arenas
Key Target Audience
Low Voltage Cable Manufacturers, Distributor/Supplier, Raw Material Manufacturer, Research Institutes, End-User Industry and Others