PUBLISHER: The Business Research Company | PRODUCT CODE: 1650562
PUBLISHER: The Business Research Company | PRODUCT CODE: 1650562
Low voltage cables and accessories pertain to electrical wires designed for the secondary distribution of electricity at voltages below 1 kV. These cables and accessories find widespread application in digital and communication purposes.
The primary categories of low voltage cables and accessories encompass overhead products and underground products. Underground products, such as PVC cables, XLPE cables, cable termination, cable joints, and others, specifically relate to low voltage cables and accessories utilized in installing cables beneath the ground. The materials employed in manufacturing these products include copper and aluminum. The various voltage ranges within low voltage cables and accessories cover up to 240V, 241-440V, and 441V-1000V. They cater to the needs of industrial, commercial, and residential customers.
The low voltage cables & accessories market research report is one of a series of new reports from The Business Research Company that provides low voltage cables & accessories market statistics, including low voltage cables & accessories industry global market size, regional shares, competitors with a low voltage cables & accessories market share, detailed low voltage cables & accessories market segments, market trends and opportunities, and any further data you may need to thrive in the low voltage cables & accessories industry. This low voltage cables & accessories market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The low voltage cables & accessories market size has grown strongly in recent years. It will grow from $165.73 billion in 2024 to $175.53 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. 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 $229.33 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. 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.
The increasing demand for electricity is expected to drive the growth of the low voltage cables and accessories market. Global electricity demand is rising due to strong economic growth in developing countries, increasing household incomes, the electrification of transportation, and the growing need for digitally connected devices. This surge in electricity demand is expected to boost the use of low-voltage cables and accessories, which are essential for the secondary distribution of electricity to various industrial and household components. For example, in September 2024, a report by the International Energy Agency, a France-based organization, stated that total net electricity production in June 2024 reached 902.8 TWh, representing a 5.4% increase compared to the same period the previous year. As a result, the growing demand for electricity is expected to drive the demand for low-voltage cables and accessories during the forecast period.
The expansion of the oil and gas industry is set to fuel the growth of the low-voltage cables and accessories market. The oil and gas sector, encompassing exploration, extraction, production, refining, and distribution of petroleum products, relies heavily on low-voltage cables and accessories for power distribution, control, safety, instrumentation, and communication. This ensures durability and compliance with safety and environmental standards. For example, in 2022, the US Energy Information Administration reported that the United Kingdom produced 934,000 barrels per day (b/d) in total liquid fuels and 1.1 trillion cubic feet (Tcf) of natural gas in 2021, underscoring the crucial role of low-voltage cables and accessories in the industry's operations.
Leading companies in the low voltage cables and accessories market are focused on developing low smoke zero halogen (LS0H) electrical cables to improve fire safety by minimizing toxic emissions during combustion. LS0H electrical cables are designed to emit minimal smoke and no harmful halogen gases, such as chlorine or fluorine, when exposed to fire. These cables are entirely halogen-free, meaning they do not release harmful gases during a fire, greatly enhancing safety during emergencies. For instance, in June 2024, RR Kabel Ltd, an India-based cable company, introduced Firex LS0H-EBXL, an innovative house wire solution. This technology enables the wire to endure extreme temperatures, up to 900°C, making it ideal for high-risk environments. The wire boasts over 85% higher short-circuit temperature withstanding capacity, providing a tenfold increase in safety compared to traditional options.
Leading companies in the low-voltage cables and accessories market are introducing innovative products like low-carbon distribution grid cables to boost market revenues. This new range of cables reduces greenhouse gas emissions by 35-50%, depending on the product. For instance, in May 2023, Nexans, a France-based automation company, launched the first low-carbon power grid cable offering in France, guaranteeing a minimum 35% reduction in greenhouse gas emissions. The environmental impact of these cables extends beyond manufacturing considerations.
In April 2022, Nexans S.A., a Europe-based fiber optic cable manufacturing company, acquired Centelsa from Xignux SA of Mexico for an undisclosed amount. This strategic move positions Nexans as a pure electrification player, emphasizing the sustainable energy generation, transmission, distribution, and usage value chain. Centelsa, a Latin American-based manufacturer of power and telecommunications cables, adds strength to Nexans' electrification focus.
Major companies operating in the low voltage cables & accessories market include Prysmian S.P.A., Nexans S.A., 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.
Asia-Pacific was the largest region in the low voltage cables & accessories market share in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the global low voltage cables & accessories market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the low voltage cables & accessories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The low-voltage cables & accessories market consists of sales of flexible cables, power cables, armored cables, rubber cables, halogen cables, control cables, fire resistance cables, control cables, special cables, and aluminum cables. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Low Voltage Cables & Accessories Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on low voltage cables & accessories market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for low voltage cables & accessories ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The low voltage cables & accessories market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.