The low voltage cables & accessories global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Low Voltage Cables & Accessories Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The low voltage cables & accessories market size has grown strongly in recent years. It will grow from $157.95 billion in 2023 to $168.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to electrification of rural areas, telecommunications expansion, residential construction, safety standards and regulations, electrified transportation.
The low voltage cables & accessories market size is expected to see strong growth in the next few years. It will grow to $219.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to electric vehicle charging infrastructure, smart cities initiatives, decentralized energy generation, growth of e-commerce, environmental sustainability. Major trends in the forecast period include 5g network expansion, digitalization and automation, data center expansion, infrastructure modernization, energy storage solutions.
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Scope Of Low Voltage Cables & Accessories Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Low Voltage Cables & Accessories Market Overview
Market Drivers –
The rising electricity demand is expected to propel the low voltage cables and accessories market. Global electricity demand is rising due to strong economic growth in developing countries, a rising increase in household incomes, electrification of transportation, and growing demand for digitally connected devices. The increased demand for electricity is expected to boost the utilization of low-voltage cables and accessories, as they act as the main component for the secondary distribution of electricity to various industrial and household components. According to the International Energy Agency (IEA) report in 2021, a France-based autonomous intergovernmental organization for energy, worldwide electricity demand is expected to grow by 2.4% in 2022 after the previous year’s 6% increase in electricity consumption. Therefore, the rising electricity demand is expected to boost demand for low-voltage cables and accessories during the forecast period.
The low voltage cables & accessories market covered in this report is segmented –
1) By Product: Overhead Products, Underground Products
2) By Voltage: Up to 240V, 241V – 440V, 441V – 1000V
3) By Material: Copper, Aluminum
4) By End-User: Commercial, Residential, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the low voltage cables & accessories market share in 2023, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the low voltage cables & accessories market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the low voltage cables & accessories market include Prysmian S.P.A., Nexans S.A., General Cable Corporation, Sumitomo Electric Industries Ltd., NKT Cables Group GmbH, ABB Ltd., Encore Wire Corporation, Finolex Cables Limited, Polycab Wires Pvt. Ltd., Riyadh Cables Group Company, Hellenic Cables Holdings S.A., Ensto UK Ltd., Elsewedy Electric Co. S.A.E., Ikebana Engineering Ltd., Raychem Rpg(P) Ltd., Alcon Megarad Inc., Te Connectivity Ltd., Repl International Ltd., 3M Company, Hitachi Energy Ltd., BBC Cellpack Gmbh, Southwire Company LLC, LS Cable & System Ltd., Furukawa Electric Co. Ltd., Leoni AG, KEI Industries Limited, Belden Inc., Lapp Group, Caledonian Cables Ltd., Tratos Ltd.
Table of Contents
1. Executive Summary
2. Low Voltage Cables & Accessories Market Report Structure
3. Low Voltage Cables & Accessories Market Trends And Strategies
4. Low Voltage Cables & Accessories Market – Macro Economic Scenario
5. Global Low Voltage Cables & Accessories Market Size and Growth
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31. Global Low Voltage Cables & Accessories Market Competitive Benchmarking
32. Global Low Voltage Cables & Accessories Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Low Voltage Cables & Accessories Market
34. Low Voltage Cables & Accessories Market Future Outlook and Potential Analysis
35. Appendix
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