Low Voltage Cable Market Size and Share
| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 3.00% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Low Voltage Cable Market Analysis by Mordor Intelligence
The Low Voltage Cable Market is expected to register a CAGR of greater than 3% during the forecast period.
- The underground cable segment is to expected to be the fastest growing segmentfor the low voltage cable market during the forecast period, owing to its several advantages in comparison to overhead installations plus increasing adoption of underground cable deployment by several developing countries.
- With rising electrification projects in Africa, low voltage cables are used to provide electricity from the distribution substations to the customer. The increasing rural electrification is expected to offer a tremendous opportunity for low voltage cables.
- Asia-Pacific is expected to lead the market and also be the fastest growing market during the forecast period, driven by rise in energy demand associated with China and India, which are the major drivers of the low cable voltage market.
Global Low Voltage Cable Market Trends and Insights
Underground Low Voltage Cable to be the Fastest Growing Market
- Deployment of underground cables instead of overhead ones has been one of the trends in regions, like Europe and North America, in the recent times. In urban areas, underground cables are more favored, as above-ground space is not available.
- Underground cables are also more reliable due to the lesser number of annual faults, compared to overhead ones. Despite the higher expenses in underground cables, utilities are now investing more in underground cables, and are encouraged by regulators in developing regions such as Asia-Pacific and Africa.
- In recent years, across Europe, specifically Germany and Netherlands, there is an increasing trend to replace the existing overhead distribution lines with underground cabling and give preference to underground cabling for new projects. Moreover, India is also witnessing increasing adoption of underground cables. Among the 100 smart city projects of the country, several projects include underground cables.
- Vietnam is also replacing the power cables from overhead to underground in two of its major cities, HCMC and Hanoi. Besides deploying underground cables in major roads, the exercise has also been extended to passages within the cities. The overhead cable replacements are expected to take place between 2020 and 2025, in turn, driving the market for underground cables.
Asia-Pacific to Dominate the Market
- Asia-Pacific has emerged as one of the major low voltage cable markets in the recent years. The rise in energy demand associated with urbanization, economic modernization, and better living standards across the region has resulted in the growth of sustainable power systems, which in turn increased the demand for low voltage cable market in this region.
- Asia-Pacific's increasing investments in T&D networks and smart grid infrastructure is expected to increase the demand for low voltage cables. Countries such as China, Japan, and India are expected to be the fastest growing markets owing to their energy transition and smart grid infrastructure plans.
- In India, residential building construction is expected to witness significant growth in the near future, supported by the government's Housing For All plan and the Pradhan Mantri Awas Yojana (PMAY), slated to be completed by 2020. Under PMAY, the government is expected to build 60 million houses (40 million in rural areas and 20 million in cities) by 2022.
- China has installed nearly half of all new capacity in 2018 and continues to lead the global capacity additions in solar and wind. Increasing installation capacities of solar and wind energy in this region are expected to boost the demand for low voltage cables during the forecast period.
Competitive Landscape
The low voltage cable market is fragmented. Some of the key players in the market include Prysmian SpA, NKT A/S,KEI Industries Limited, Cablel Hellenic Cables Group and Brugg Kabel AG.
Low Voltage Cable Industry Leaders
-
Prysmian SpA
-
NKT A/S
-
KEI Industries Limited
-
Cablel Hellenic Cables Group
-
Brugg Kabel AG
- *Disclaimer: Major Players sorted in no particular order
Global Low Voltage Cable Market Report Scope
The low voltage cable market report include:
| Overhead |
| Underground |
| Commercial |
| Residential |
| Industrial |
| North America |
| Europe |
| Asia-Pacific |
| South America |
| Middle East & Africa |
| Type | Overhead |
| Underground | |
| End-User | Commercial |
| Residential | |
| Industrial | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa |
Key Questions Answered in the Report
What is the current Low Voltage Cable Market size?
The Low Voltage Cable Market is projected to register a CAGR of greater than 3% during the forecast period (2025-2030)
Who are the key players in Low Voltage Cable Market?
Prysmian SpA, NKT A/S, KEI Industries Limited, Cablel Hellenic Cables Group and Brugg Kabel AG are the major companies operating in the Low Voltage Cable Market.
Which is the fastest growing region in Low Voltage Cable Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Low Voltage Cable Market?
In 2025, the Asia Pacific accounts for the largest market share in Low Voltage Cable Market.
What years does this Low Voltage Cable Market cover?
The report covers the Low Voltage Cable Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Low Voltage Cable Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Page last updated on:
Low Voltage Cable Market Report
Statistics for the 2025 Low Voltage Cable market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Low Voltage Cable analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
