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Low Voltage Power and Control Cable Market Trends

Report ID: GMI8444
Published Date: Mar 2024
Report Format: PDF

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Low Voltage Power and Control Cable Market Trends

Low voltage power and control cable industry is witnessing a substantial growth in demand owing to the growing demand for energy-efficient cables in response to sustainability concerns. There's a rising preference for fire-resistant and halogen-free cables, driven by safety regulations and environmental awareness. The cable is equipped with unique sheath material and is easy to cut along with enhanced flexibility, which makes its laying faster. Moreover, the adoption of advanced materials and technologies, such as XLPE insulation and fiber-optic control cables, is gaining traction.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of low voltage power and control cable was reached USD 58.1 billion in revenue in 2023 and is projected to witness around 7.2% CAGR through 2032, driven by increasing infrastructure development, industrial automation, and urbanization.

The power cables product segment held over 65% share of the low voltage power and control cable market in 2023, led by the increasing urbanization, industrialization, and infrastructure development.

Asia Pacific low voltage power and control cable market is projected to exceed USD 52.7 billion by 2032, propelled by rapid urbanization, infrastructure development, and industrial expansion across the region.

Bergen Cable Technology, Belden Inc., Ducab, Furukawa Electric Co., Ltd., KEI Industries Limited, KEC International Limited, and Klaus Faber AG are some of the low voltage power and control cable providers