Low Voltage Cable Market To Hit $2.4 Bn by 2027 | Leading Companies Analysis like ABB, NKT, Prysmian Group, Nexans
One of the primary factors driving the market is the increasing demand for energy and the penetration of smart grid networks
SHERIDAN, WY, USA, November 25, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled Low Voltage Cable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,offers a comprehensive analysis of the industry, which comprises insights on the global low voltage cable market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
A Closer Look at the Global Low Voltage Cable Market Size | 2022
The global low voltage cable market size reached US$ 102.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 150.7 Billion by 2027, exhibiting a growth rate (CAGR) of 6.3% during 2022-2027.
Year considered to estimate the market size:
Base year of the analysis: 2021
Historical period: 2016-2021
Forecast period: 2022-2027
COVID-19 Impact: We are regularly tracking the direct effect ofCOVID-19on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/low-voltage-cable-market/requestsample
Low Voltage Cable Market Application:
Low voltage cables represent structured wires that are utilized for transferring power to electrical equipment with a small voltage rating. They can be categorized into conductors, polyvinyl chloride (PVC) cables, cross-linked polyethylene (XLPE) cables, etc. These low voltage cable variants can handle 75 to 1500 volts of direct current and 50 to 1000 volts of alternating current. They are manufactured using solid aluminum and flexible copper conductors and are halogen-free and fire-resistant. Low voltage cable models ensure quicker data transfer, optimized usage of energy, and seamless operations. Consequently, they find widespread applications across various sectors, including oil and gas, mining, transportation, chemicals and petrochemicals, etc.
Low Voltage Cable Market Current Trends & Future Predictions:
The elevating demand for energy and the rising incorporation of smart grid networks across countries are among the key factors driving the low voltage cable market. Furthermore, the growing need for power generation, distribution, and transmission, on account of the increasing requirement for uninterrupted power supply among numerous industries, is acting as another significant growth-inducing factor. Apart from this, the emerging trend of utilizing renewable energy resources in the power generation process is also positively influencing the market growth. Moreover, the launch of favorable policies by government bodies aimed at expanding or upgrading the transmission and distribution (T&D) systems is further augmenting the global market. Additionally, the escalating urbanization and digitalization levels and the inflating need for efficient power transmission equipment that can be integrated with smart devices are expected to stimulate the low voltage cable market over the forecasted period.
Competitive Landscape with Key Players:
The competitive landscape of the GCC organic and natural pet food market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Players Included in Global Low Voltage Cable Market Research Report:
Sumitomo Electric Industries
Encore Wire Corporation
Market Segmentation of the Low Voltage Cable Market:
The report has segmented the global low voltage cable market on the basis of installation type, material, overhead product, underground product, end user and region.
Based on Installation Type:
Based on Material:
Based on Overhead Product:
Fittings and Fixtures
Based on Underground Product:
Based on End-User:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Inquire or Share Your Questions If Any Before the Purchasing This Report: https://www.imarcgroup.com/request?type=report&id=1567&flag=F
Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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