Dublin, March 17, 2023 (GLOBE NEWSWIRE) -- The "Low Voltage Cables & Accessories Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global low voltage cables & accessories market grew from $164.89 billion in 2022 to $201.33 billion in 2023 at a compound annual growth rate (CAGR) of 22.1%. The low voltage cables & accessories market is expected to grow to $542.52 billion in 2027 at a CAGR of 28.1%.
Asia-Pacific was the largest region in the low voltage cables & accessories market in 2022, 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 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.
According to the International Energy Agency (IEA) report in 2021, a France-based autonomous intergovernmental organization for energy, worldwide electricity demand is expected to grow by 2.4% in 2022 after the previous year's 6% increase in electricity consumption. 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 key trends 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 April 2021, Lapp India Pvt. Ltd., an India-based supplier, and manufacturer of cables and cable accessories launched ETHERLINE T1, a new single-pair Ethernet cable for transmitting digital signals. The Ethernet T1 cable is made up of copper braid and aluminum-laminated foil and is used as a double shield to prevent electromagnetic interference., which is capable of supplying power and data simultaneously to SPE (Single Pair Ethernet) terminals with low energy consumption and can transmit data up to a range of 1200m at 10 Mbit/s.
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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.
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.
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.
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Scope
Markets Covered:
1) By Product: Overhead Products; Underground Products
2) By Voltage: Up to 240V; 241V - 440V; 441V - 1000V
3) By Material: Copper; Aluminum
4) By End-User: Commercial; Residential; Industrial
Companies Mentioned: Prysmian S.P.A; Nexans S.A.; General Cable Corporation; Sumitomo Electric Industries; NKT Cables Group GmbH
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $201.33 billion |
| Forecasted Market Value (USD) by 2027 | $542.52 billion |
| Compound Annual Growth Rate | 28.1% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Low Voltage Cables & Accessories Market Characteristics
3. Low Voltage Cables & Accessories Market Trends And Strategies
4. Low Voltage Cables & Accessories Market - Macro Economic Scenario
5. Low Voltage Cables & Accessories Market Size And Growth
6. Low Voltage Cables & Accessories Market Segmentation
7. Low Voltage Cables & Accessories Market Regional And Country Analysis
8. Asia-Pacific Low Voltage Cables & Accessories Market
9. China Low Voltage Cables & Accessories Market
10. India Low Voltage Cables & Accessories Market
11. Japan Low Voltage Cables & Accessories Market
12. Australia Low Voltage Cables & Accessories Market
13. Indonesia Low Voltage Cables & Accessories Market
14. South Korea Low Voltage Cables & Accessories Market
15. Western Europe Low Voltage Cables & Accessories Market
16. UK Low Voltage Cables & Accessories Market
17. Germany Low Voltage Cables & Accessories Market
18. France Low Voltage Cables & Accessories Market
19. Eastern Europe Low Voltage Cables & Accessories Market
20. Russia Low Voltage Cables & Accessories Market
21. North America Low Voltage Cables & Accessories Market
22. USA Low Voltage Cables & Accessories Market
23. South America Low Voltage Cables & Accessories Market
24. Brazil Low Voltage Cables & Accessories Market
25. Middle East Low Voltage Cables & Accessories Market
26. Africa Low Voltage Cables & Accessories Market
27. Low Voltage Cables & Accessories Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Low Voltage Cables & Accessories Market
29. Low Voltage Cables & Accessories Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes
- Prysmian S.P.A
- Nexans S.A.
- General Cable Corporation
- Sumitomo Electric Industries
- NKT Cables Group GmbH
For more information about this report visit https://www.researchandmarkets.com/r/n1iji0
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