Major players in the low voltage cables & accessories market are Prysmian S. P. A, Nexans S. A. , General Cable Corporation, Sumitomo Electric Industries, NKT Cables Group GmbH, ABB Ltd. , KEI Industries Limited, TE Connectivity, Bahra Advanced Cable Manufacture Co.
New York, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Low Voltage Cables & Accessories Global Market Report 2022" - https://www.reportlinker.com/p06318514/?utm_source=GNW
Ltd., Ensto India Private Limited, Elsewedy Electric, REPL International Ltd., Brugg Cables AG, Ikebana Engineering Ltd., Hellenic Cables, Raychemrpg, Caledonian Cables, Leoni, Southwire, Riyadh Cables Group Company, and Hangzhou Cable.
The global low voltage cables & accessories market is expected to grow from $133.93 billion in 2021 to $146.77 billion in 2022 at a compound annual growth rate (CAGR) of 9.59%. The low voltage cables & accessories market is expected to reach $193.57 billion in 2026 at a CAGR of 7.16%.
The low voltage cables & accessories market consists of sales of low voltage cables & accessories by entities (organizations, sole traders, and partnerships) that refer to low voltage electrical wires used for secondary distribution of electricity at voltages less than 1 kV. Low voltage cables and accessories are widely used for digital and communication purposes.
The main types of low voltage cables & accessories include overhead products and underground products.Underground products refer to low voltage cables & accessories such as PVC cables, XLPE cables, cable termination, cable joints, and others used in the installation of cables below the ground.
The materials used in the manufacturing of low voltage cables & accessories include copper and aluminium.The different voltage ranges in low voltage cables & accessories include up to 240V, 241-440V, and 441V-1000V.
They are used by industrial, commercial, and residential customers.
Asia-Pacific was the largest region in the low voltage cables & accessories market in 2021, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the low voltage cables & accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The low voltage cables & accessories market research report is one of a series of new reports 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 rising electricity demand is expected to propel the low voltage cables and accessories market.Global electricity demand is rising due to strong economic growth in developing countries, a rising increase in household incomes, electrification of transportation, and growing demand for digitally connected devices.
The increased demand for electricity is expected to boost the utilization of low-voltage cables and accessories, as they act as the main component for the secondary distribution of electricity to various industrial and household components. For instance, In November 2019, in a report published by IEA Organization, global electricity is expected to increase at a year-on-year growth rate of 2.1% between 2018 and 2040. This consumption will increase electricity’s share of global energy consumption from 19% in 2018 to 24% in 2040. Therefore, the rising electricity demand is expected to boost demand for low voltage cables and accessories during the forecast period.
Technology innovations and advancements in the design of cable accessories are a key trend gaining popularity in the low voltage cables & accessories market.The companies operating in the low voltage cables and accessories sector are focusing on developing innovative products with the latest technologies, improvised product offerings and cost-efficiency.
For instance, In June 2019, EA Technology, a UK-based electrical assets solution provider, launched ALVIN Reclose (Automatic Low Voltage Intelligent Network), a new generation of supply-restoration reclose equipment that assists network operators in lowering costs and providing better service. It offers intelligent automation and fault restoration on low voltage electrical and cable networks.
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. Through this acquisition, Nexans intends to become a pure electrification player, focusing on the value chain of sustainable energy generation, transmission, distribution, and usage. Centella is a Latin American-based manufacturer of power and telecommunications cables.
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.
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