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Low Voltage Cable Market
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Low Voltage Cable Market

Author: Chandra Mohan - Sr. Industry Consultant, Report ID - DS1203001, Published - November 2024

Segmented in Installation (Overhead, Underground), Voltage (1V-240V, 241V-440V, 441V-1000V), End User Industry and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2023 – 2033

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Low Voltage Cable Market Outlook

The market, for low voltage cables is an example of innovation and interconnectedness, ingrained in the electrical infrastructure landscape. At around USD 117.2 billion in 2023 and expected to grow to USD 182.1 billion by 2030 at a compound annual growth rate of 6. 5%. This sector shows promising growth potential and forecasts suggest that by 2035, the market could exceed USD 249 billion highlighting the increasing need, for transmission solutions.


Low voltage power cables are widely used to distribute energy and are versatile, in handling voltage levels up to 1kV for residential and industrial needs due to their flexibility and durability against environmental factors that ensure top performance, in various settings


Market Size Forecast & Key Insights

2018
$117B2023
2028
$220B2033

Absolute Growth Opportunity = $103B

The Low Voltage Cable market is projected to grow from $117.2 billion in 2023 to $220 billion in 2033. This represents a CAGR of 6.5%, reflecting rising demand across Residential Wiring, Industrial Automation and Telecommunications.

The Low Voltage Cable market is set to add $103 billion between 2023 and 2033, with manufacturer targeting 241V-440V & 441V-1000V Voltage projected to gain a larger market share.

With Increased urbanization, and Technological advancements, Low Voltage Cable market to expand 88% between 2023 and 2033.

Opportunities in the Low Voltage Cable Market

Expansion in Emerging Markets

The rapid growth of industries and cities in developing countries presents an opportunity, for the production & consumption of low voltage cables

Smart Infrastructure Development and Focus on Sustainable Solutions

The emergence of cities offers a chance, for companies that produce low voltage cables to thrive and grow their business further by incorporating these cables into smart infrastructure initiatives to boost efficiency and connectivity through advanced solutions in demand

The rising consciousness of concerns is boosting the request for eco-friendly low voltage cables in the market today. Makers have the opportunity to capitalize on this movement by creating products that support worldwide sustainability initiatives and improve their standing in the industry

Growth Opportunities in North America and Asia-Pacific

Asia Pacific Outlook

The low voltage cable market, in the Asia Pacific region is rapidly expanding due to the growth of industrialization and urbanization in countries like India and China. Prysmian Group and General Cable are taking advantage of the market opportunities in the region by setting up manufacturing facilities and forming partnerships. In this landscape of the regions market with a focus o cost sensitivity manufacturers are constantly striving to enhance efficiency in production and supply chain management. While facing challenges, in the Asia Pacific market both local and global companies have growth prospects to explore

North America Outlook

The market, for low voltage cables in North America is competitive due to advancements and infrastructure investments in technologies. Southwire and Nexans leading the way by leveraging the regions emphasis on renewable energy and upgrading electrical systems already in place. Strict regulations and top notch standards boosting market durability encouraging manufacturers to prioritize creative solutions that meet regulatory demands and ensure top notch performance

North America Outlook

The market, for low voltage cables in North America is competitive due to advancements and infrastructure investments in technologies. Southwire and Nexans leading the way by leveraging the regions emphasis on renewable energy and upgrading electrical systems already in place. Strict regulations and top notch standards boosting market durability encouraging manufacturers to prioritize creative solutions that meet regulatory demands and ensure top notch performance

Asia-Pacific Outlook

The low voltage cable market, in the Asia Pacific region is rapidly expanding due to the growth of industrialization and urbanization in countries like India and China. Prysmian Group and General Cable are taking advantage of the market opportunities in the region by setting up manufacturing facilities and forming partnerships. In this landscape of the regions market with a focus o cost sensitivity manufacturers are constantly striving to enhance efficiency in production and supply chain management. While facing challenges, in the Asia Pacific market both local and global companies have growth prospects to explore

Growth Opportunities in North America and Asia-Pacific

Established and Emerging Market's Growth Trend 2024–2033

1

Major Markets : U.S., Germany, China, Japan, India are expected to grow at 4.2% to 6.2% CAGR

2

Emerging Markets : Brazil, Mexico, South Africa are expected to grow at 7.5% to 9.0% CAGR

Market Analysis Chart

The interaction of these elements molds the market for low voltage cables and impacts its growth potential

Recent Developments and Technological Advancement

September 2023

Nexans has introduced a series of eco-friendly low voltage cables aimed at reducing environmental impact without compromising performance

July 2023

Prysmian Group has finalized the purchase of General Cables assets to enhance its presence in the low voltage cable industry

March 2023

Southwire has launched a range of low voltage cables designed specifically for automation to improve connectivity and dependability, in manufacturing settings

The recent advancements underscore the importance of prioritizing sustainability and creativity, in business strategies. This enables manufacturers to take advantage of market prospects as they arise

Impact of Industry Transitions on the Low Voltage Cable Market

As a core segment of the Wires & Cables industry, the Low Voltage Cable market develops in line with broader industry shifts. Over recent years, transitions such as Energy Transition and Digital Transformation have redefined priorities across the Wires & Cables sector, influencing how the Low Voltage Cable market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Energy Transition:

The continuous move away from fossil fuels towards renewable energy sources has a notable effect on the low voltage cable market industry dynamics. Companies now need cutting edge cables capable of meeting the specific demands of renewable energy setups. This shift is propelling market expansion and innovation within the sector

2

Digital Transformation:

The rise of innovation is reshaping industries by boosting the need for connectivity and automation solutions to thrive effectively in todays landscape of technology advancement and operational enhancement, across diverse sectors

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Wires & Cables industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Wires & Cables industry cascade into the Low Voltage Cable market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Increased Urbanization, and Focus on Renewable Energy

As cities grow larger and more populated, over time the need for low voltage cables, in homes and businesses increases. This expansion also drives the development of power distribution systems pushes companies to improve and expand their products
The worldwide transition to renewable energy sources presents potential for low voltage cables in solar and wind power projects as countries adopt measures to support environmental goals that drive the demand, for effective electricity distribution solutions
The advancement of technologies such, as IoT and automation is also increasing the need for low voltage cables across different industries. These cables are also essential for connectivity and efficient control in the integration of these technologies

Restraint: Price Volatility of Raw Materials

Price fluctuations in copper and aluminum prices can create hurdles for manufacturers of low voltage cables who depend on these materials for production purposes. Higher costs of materials may result in price hikes, for products and could affect the overall market demand adversely

Challenge: Regulatory Challenges

Meeting regulations and standards may impede market expansion as companies are required to allocate resources, towards research and development to ensure product compliance with guidelines. This investment can place constraints on resources. Stifle opportunities for innovation in the sector

Supply Chain Landscape

Raw Material Suppliers

Copper

Aluminum

Cable Manufacturers

Nexans

Southwire

Prysmian Group

General Cable

Distributors
Exporter / Importers / Super Distributors / Regional / Area Distributors
End-Users
Power Utilities / Electrical Contractors
Raw Material Suppliers

Copper

Aluminum

Cable Manufacturers

Nexans

Southwire

Prysmian Group

General Cable

Distributors

Exporter / Importers

Super Distributors

Regional / Area Distributors

End-Users

Power Utilities

Electrical Contractors

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Leading Providers and Their Strategies

ApplicationIndustryLeading ProvidersManufacturer Strategies
Residential Wiring
Residential Construction
Nexans, Southwire, Belden
Nexans focuses on sustainable practices, investing in eco-friendly cable production, while Southwire emphasizes innovation through advanced manufacturing techniques
Industrial Automation
Manufacturing
Prysmian Group, General Cable
Prysmian Group leverages technological advancements to enhance performance, whereas General Cable prioritizes strategic partnerships to diversify their product offerings
Telecommunications
Telecom
CommScope, Corning
CommScope invests heavily in R&D to improve connectivity solutions, while Corning specializes in high-performance optical cables, addressing the growing need for faster data transmission
Power Distribution
Utilities
Siemens, Schneider Electric
Siemens employs cutting-edge technology for smart grid solutions, while Schneider Electric focuses on sustainability and digitalization in their energy management systems
Renewable Energy
Energy Sector
ABB, General Electric
ABB is at the forefront of energy transition technologies, while General Electric emphasizes innovation in renewable energy solutions, integrating low voltage cables in their offerings

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Low Voltage Cable market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Low Voltage Cable in Industrial Automation, Telecommunications and Residential Wiring

Industrial Automation

In manufacturing industries low voltage cables play a role in the functioning of automation and control systems by linking sensors actuators and various devices to enable operations and monitoring. Prysmian Groups industrial cables are crafted to endure conditions guaranteeing durability and dependability in challenging settings like factory automation and process control

Telecommunications

The telecommunications sector heavily depends on low voltage cables, for transmitting data and communication systems. It is used for purposes like telephone lines and internet connections. CommScope has been a leader in developing cutting edge low voltage solutions that improve data speeds and bandwidth to meet the increasing need for high performance communication networks

Residential Wiring

Low voltage cables play a role in the wiring of homes by ensuring safe and efficient power distribution, within residential environments. They are used in applications such as lighting systems, reliable connections for HVAC units and security systems. Nexans has introduced solutions, for residential wiring that meet safety regulations and also contribute to energy conservation efforts

Low Voltage Cable vs. Substitutes:
Performance and Positioning Analysis

Low Voltage Cable
  • High Voltage Cable
    Generally lower manufacturing costs
    Excellent Performance for low voltage applications, providing reliable electrical transmission and best suited for localized applications
    Sustainability: Growing focus on eco-friendly materials and practices in production
    Alternates like high voltage cable's installation and maintenance costs on higher side due to specialized requirements
    High voltage cables are superior for long-distance communication and high voltage transmission
    Sustainability: Fiber optics can offer energy efficiency in data transmission, while high voltage cables pose challenges in recycling and waste management

Low Voltage Cable vs. Substitutes:
Performance and Positioning Analysis

Low Voltage Cable

  • Generally lower manufacturing costs
  • Excellent Performance for low voltage applications, providing reliable electrical transmission and best suited for localized applications
  • Sustainability: Growing focus on eco-friendly materials and practices in production

High Voltage Cable

  • Alternates like high voltage cable's installation and maintenance costs on higher side due to specialized requirements
  • High voltage cables are superior for long-distance communication and high voltage transmission
  • Sustainability: Fiber optics can offer energy efficiency in data transmission, while high voltage cables pose challenges in recycling and waste management

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Research Methodology

This market research methodology defines the Low Voltage Cable market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the Wires & Cables ecosystem, we analyze Low Voltage Cable across Infrastructure, Industrial, and Renewables Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:


We benchmark competitors such as Nexans, Southwire, and Prysmian Group by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Material Suppliers, Cable Manufacturers, and Distributors. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Wires & Cables revenues to estimate the Low Voltage Cable segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Material Suppliers (Copper, Aluminum), Cable Manufacturers (Nexans, Southwire), and Distributors. Our parallel substitute analysis examines High Voltage Cable, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Nexans, Southwire, and Prysmian Group, analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Low Voltage Cable market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Low Voltage Cable Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2024USD 124 billion
Revenue Forecast in 2033USD 220 billion
Growth RateCAGR of 6.5% from 2024 to 2033
Base Year for Estimation2023
Industry Revenue 2023117 billion
Growth OpportunityUSD 103 billion
Historical Data2018 - 2022
Growth Projection / Forecast Period2024 - 2033
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 2023117 billion USD
Market Size 2026141 billion USD
Market Size 2028160 billion USD
Market Size 2030182 billion USD
Market Size 2033220 billion USD
Market Size 2035249 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredInstallation, Voltage, End User Industry
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledNexans, Southwire, Prysmian Group, General Cable, CommScope, Corning, Siemens, Schneider Electric, ABB, General Electric and Belden
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Low Voltage Cable Market Size, Opportunities & Strategic Insights, by Installation

4.1Overhead
4.2Underground
Chapter 5

Low Voltage Cable Market Size, Opportunities & Strategic Insights, by Voltage

5.11V-240V
5.2241V-440V
5.3441V-1000V
Chapter 6

Low Voltage Cable Market Size, Opportunities & Strategic Insights, by End User Industry

6.1Infrastructure
6.2Industrial
6.3Renewables
Chapter 7

Low Voltage Cable Market, by Region

7.1North America Low Voltage Cable Market Size, Opportunities, Key Trends & Strategic Insights
7.1.1U.S.
7.1.2Canada
7.2Europe Low Voltage Cable Market Size, Opportunities, Key Trends & Strategic Insights
7.2.1Germany
7.2.2France
7.2.3UK
7.2.4Italy
7.2.5The Netherlands
7.2.6Rest of EU
7.3Asia Pacific Low Voltage Cable Market Size, Opportunities, Key Trends & Strategic Insights
7.3.1China
7.3.2Japan
7.3.3South Korea
7.3.4India
7.3.5Australia
7.3.6Thailand
7.3.7Rest of APAC
7.4Middle East & Africa Low Voltage Cable Market Size, Opportunities, Key Trends & Strategic Insights
7.4.1Saudi Arabia
7.4.2United Arab Emirates
7.4.3South Africa
7.4.4Rest of MEA
7.5Latin America Low Voltage Cable Market Size, Opportunities, Key Trends & Strategic Insights
7.5.1Brazil
7.5.2Mexico
7.5.3Rest of LA
7.6CIS Low Voltage Cable Market Size, Opportunities, Key Trends & Strategic Insights
7.6.1Russia
7.6.2Rest of CIS
Chapter 8

Competitive Landscape

8.1Competitive Dashboard & Market Share Analysis
8.2Company Profiles (Overview, Financials, Developments, SWOT)
8.2.1Nexans
8.2.2Southwire
8.2.3Prysmian Group
8.2.4General Cable
8.2.5CommScope
8.2.6Corning
8.2.7Siemens
8.2.8Schneider Electric
8.2.9ABB
8.2.10General Electric
8.2.11Belden