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Low Voltage Power and Control Cable Market Size
- Report ID: GMI8444
- Published Date: Mar 2024
- Report Format: PDF
Low Voltage Power and Control Cable Market Size
Low Voltage Power and Control Cable Market was valued at USD 58.1 billion in 2023 and is projected to grow at over 7.2% CAGR from 2024 and 2032, driven by the increasing infrastructure development, industrial automation and urbanization. Growing demand from industrial sectors, coupled with the adoption of renewable energy sources, fuels market expansion.
According to the International Energy Agency's (IEA) Renewables 2023 report, renewable electricity capacity reached 507 gigawatts (GW) in 2023, with solar photovoltaic (PV) installations accounting for 75% of global additions. Technological advancements, regulatory initiatives promoting energy efficiency, and the need for reliable power transmission also contribute to the growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Low Voltage Power and Control Cable Market Size in 2023: | USD 58.1 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7.2% |
| 2032 Value Projection: | USD 109.5 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 265 |
| Tables, Charts & Figures: | 322 |
| Segments covered: | Product, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Low Voltage Power and Control Cable Market Scope
