Low Voltage Wire and cable Market

Low Voltage Wire and Cable Market Size

The global low voltage wire and cable market was valued at USD 145.7 billion in 2024 and is set to register at a CAGR of 7.2% from 2025 to 2034, due to the development of funding for smart city projects. Ongoing urbanization and industrialization play a vital role in augmenting the product deployment across developing nations. As per Statista, over the last decade, India saw a 4% growth in the urban relocation, which in turn enhanced the energy demand across the cities and thus aided in propelling the business outlook.

Control cables and communication cables are witnessing a substantial rise in their demand owing to the increasing automation across the industries. Industries are integrating robotics, IoT and other digital technologies across their processes to reduce the operational time and increase productivity, which favors the market growth.

Low Voltage Wire and Cable Market Trends

• Rising focus on safety, energy efficiency and modernized electrical systems is boosting the statistics for construction industry, which in turn fuels the growth of low voltage wire and cable industry. In U.S. the construction industry employs over 8 million people by 2023 and is one of the biggest contributor in the nation’s GDP, also contributing to the wire and cable industry growth.
  
• Recent innovations have spurred the growth in demand for new cables that are halogen-free, low-smoke, and fire resistant. These cables are considered new global standards for fire safety because they are specially built to safeguard buildings, transport, critical infrastructure, and other systems by minimizing the emission of harmful smoke and other gases. The rising safety standards regarding the usage of cables in residential, commercial, and industrial settings is driving this development.
  
• The increase in population globally has amplified the electricity needs from manufacturing, beverage, food industries, and many others. This, in turn, increases the need for the power generation facilities to be expanded. Since 1950, Indian population has grown by over 1 billion and this has driven a tenfold increase in energy demand which in turn has compelled the governments to invest in power generation.
  
• Moreover, the residential sector has experienced remarkable expansion in the past few years because of increase in population throughout all the regions which has led to greater product deployment.
  
• Industries including Oil & Gas, Manufacturing and others are incorporating modern electrical systems, which propels the need for highly durable, safe and reliable low voltage cables. IEA reported that the upstream oil and gas investment across the globe witnessed an annual increase of 9% in 2023, of which, a large sum is directed toward the infrastructural development.
  

Low Voltage Wire and Cable Market Analysis

• The low voltage wire and cable industry in 2022, 2023 and 2024 was valued at USD 118 billion, USD 131 billion and USD 145.7 billion respectively.
  
• Investments in advanced smart grids and distributed energy resources around the world will aid in power cable market growth, estimating to surpass USD 175 billion by 2034. Per IEA’s report, 2022 global spending on electricity grids exceeded USD 330 billion, with a fifth of that amount shifted towards digital technologies, including smart grid systems.
  
• The signal and control cables held approximately 13% share of the low voltage wire and cable market in 2024, on account of the growing deployment of intelligent building systems including HVAC, wiring and lights across residential and commercial buildings. Builders are integrating automation and IoT across the essential units of the building which in turn is fueling the product penetration.
  
• The fiber optic cable industry is anticipated to reach over USD 22 billion by 2034, owing to the fund inflow toward the deployment of 5g networks across the globe. As per the report published by 5G Americas, over 2 billion 5G connections were noted in first quarter of 2024, which is further anticipated to grow over the coming years.
  

• Based on applications, the utility applications accounted for over 27% share of the low voltage wire and cable market in 2024 and is anticipated to grow significantly in the coming years.
  
• Utilities are shifting to solar and wind power which requires them to increase their use of reliable power cables for grid integration. Solar power generated over 11% of Europe's total electricity output in 2024 which demonstrates the need for more power cables as this sector grows.
  
• The proliferating automation along with development of the vehicles has increased the market value of automobile applications to more than USD 14 billion in 2024. In addition, the world has experienced a considerable increase in automobile sales during the past few years which has further fueled the growth of the sector.
  
• Rising disposable income along with gradual shift towards the adoption of consumer electronics including smart phones, computer and others have augmented the business landscape. Consumers across the globe have invested over USD 4.6 trillion in the last decade in the smart phone industry, signifying the rapid growth of the market, which further complements the low voltage wire and cable industry growth.
  

• The U.S. low voltage wire and cable market was valued at USD 13.1 billion, USD 13.9 billion and USD 15 billion in 2022, 2023 and 2024 respectively. Across North America, the government are continuously investing toward the upgradation of aging electrical infrastructure, which drives the demand for LV cables. The US government reported that it invested more than USD 2 billion in grid modernization in 2024 to address energy needs which will further increase product demand.
  
• The European market accounts for over 13% share in 2024, driven by initiatives such as the Green Deal goals and Net Zero targets which boost the demand for renewable energy grids. This further compels the utilities to incorporate safe and reliable wiring infrastructure across the grid, thus boosting the LV wire and cable market across the region.
  
• By 2034, the Asia Pacific market for low voltage wires and cables is projected to exceed USD 206 billion. China drives the industry, supported by government policies aimed at developing a nationwide widespread Electric Vehicle (EV) charging network. According to EVCIPA, the country installed more than 4 million charging points in 2024 to support the increasing adoption of electric vehicles, thus fueling the demand for wires and cables.
  
• Middle East & Africa low voltage wire and cable market is projected to grow at CAGR of over 6% by 2034, owing to large scale investments across commercial infrastructural in countries including Saudi Arabia, UAE and others. For instance, Abu Dhabi government announced an investment of USD 18 billion for over 140 projects across commercial infrastructure for education, tourism and others.
  

Low Voltage Wire and Cable Market Share

In the global low voltage wire and cable industry, Prysmian Group facilitates significant market share due to its global networks, manufacturing capabilities, plus product innovation. The company's wide range of portfolio for energy distribution, infrastructure and even industrial application.

Prysmian’s commitment to sustainable development as well as to high performance and regulatory compliance increases its competitive advantage. Moreover, advanced and sustained investment in research and development along with a reliable distribution network allows the company to stay competitive within the lower voltage segment.

Alongside Prysmian Group, the other top six companies operating in the low voltage wire and cable market include Nexans, Sumitomo Electric Industries, NKT A/S, Belden, Elsewedy Electric, and KEI Industries Limited. While Nexans holds a noteworthy position within the European region by delivering advanced low voltage solutions, Sumitomo Electric has a major presence in cable supply within the Asia Pacific region.

NKT A/S focuses on energy-efficient products, however, Belden is a prominent supplier of industrial and networking cables. In the Middle East and Africa, Elsewedy Electric has a prominent market position while KEI Industries has emerged as a major contributor in the Indian power infrastructure market.

Low Voltage Wire and Cable Market Companies

• Nexans emerge among the leaders in the manufacture of low voltage wire and cable products for energy, telecom, and industrial applications. In March 2023, Nexans released ENERGEX low voltage cables for industrial use that are equipped with enhanced fire-resistant features. The company is highly proactive in focusing on sustainability and digitalization by focusing on the production of cables for power and communication systems throughout the globe.
  
• Sumitomo Electric Industries Ltd. is an established market player in the Asia Pacific segment owing to its significant range of offerings, including communication, power and industrial cables. Additionally, the firm invests in the new innovative products to further strengthen their brand portfolio.
  
• NKT focuses on developing and producing low voltage cables and wires for the energy and telecommunication industries. Their innovative energy solutions include power distribution cables tailored for specific market segments.
  
• Belden focuses on networking and industrial automation, hence manufactures industrial and networking cables in the low voltage segment. The company is well known in global markets and actively participates in the infrastructure of data centers and advanced automation projects, including in the Cabinet of Ministers of the Russian Federation.
  
• Elsewedy Electric focuses on supply of low voltage cables in the Middle East and African region. The Company manufactures power, control, and multipurpose instrumentation cables for various industries, and also engages in local energy development infrastructure projects. Elsewedy Electric won a contract in August 2023 for the value of USD 300 million, concerning the delivery of electricity cables to Saudi Arabia.
  
• KEI Industries Limited deals in the production and distribution of low voltage cables and wires used in power distribution, industrial activities, and other construction infrastructure operations. The company is headquartered in India and have a large client network spread across other countries. In October of 2024, KEI Industries completed the construction of new buildings for the Chinchpada and Pathredi plants, in order to increase the cable production.
  

Low Voltage Wire and Cable Industry News:

• In January 2025, Sumitomo Electric showcased its Thunderbolt 5 cables at Integrated Systems Europe (ISE) 2025. The company intends to highlight how these cables can help in transferring data more efficiently in modern audio-visual and IT technologies. Thunderbolt 5 cables also provide increased reach and performance so that the user can take full advantage of next-gen technologies in the quickly developing industry.
  
• In October 2024, Alfanar has won contracts with the Saudi Electricity Company (SEC) to improve Saudi Arabia’s power infrastructure for USD 5.3 billion. The agreements include substations, transmission lines, and smart grid components to facilitate the nation's energy transition. All these coupled with Alfanar’s skill in power and automation makes him a key player in the Saudi Arabia electricity industry.
  
• In February 2024, the new Plenum Stadium Cables, Access Control Cables, and the LioN-X IO-Link Hub from Lumberg Automation were released alongside the Belden Horizon Console, Hirschmann Industrial HiVision Software, BXP Managed Switches, and the upgrades to REVConnect Connectivity System. Along with those innovations, Belden also released new consoles and managed switches. The new consoles and managed switches serve to augment security and automate real-time data transmission. Belden’s improved infrastructure solutions aim to enhance network productivity and reliability within the manufacturing, energy, and transportation industries.
  
• In October 2024, KEI Industries performed a brownfield expansion at its Chinchpada and Pathredi Plants to improve the units’ cable manufacturing capacity. The Chinchpada Plant is now directed towards increasing the production of wires and cables, while the Pathredi Plant increases production for low tension cables. In the first half of FY25, KEI industries spent USD 96.1 million and anticipates further increasing their capacity with a new greenfield investment in Sanand, Gujarat. This step will ensure that the market’s increasing need for quality cable products is met.
  
• In August 2023, the Saudi unit of Elsewedy Electric contributed in the supply of low and medium voltage cables for the telecom works in the 28 km tunnels of The Line vertical city, as part of Saudi Arabia's USD500 billion mega NEOM project. The meccano style architecture of NEOM will appreciate the shifting of 9 million residents while sustaining the ecological balance by relying completely on hydrogen, solar and wind turbines.
  

This low voltage wire and cable market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2034, for the following segments:

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Market, By Product

• Coaxial Cables/Electronic Wires
• Fiber Optics Cables
• Power Cables
• Signal & Control Cable
• Telecom & Data Cables

Market, By Application

• Food & beverages
• Automotive
• Material handling/logistics
• Entertainment/leisure
• Utilities
• Railways
• Consumer electronics
• Building infrastructure
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Netherlands
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Belgium
  • Germany
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Philippines
  • New Zealand
  • Malaysia
  • Thailand
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Iraq
  • Kuwait
  • Qatar
  • South Africa
  • Egypt
  • Nigeria
• Latin America
  • Brazil
  • Argentina
  • Peru