Research Nester assesses the growth and market size of global low voltage cable market which is anticipated to be on account of the increasing demand for low voltage cables from the industrial and commercial sectors to transmit power safely at low voltage

Research Nester’s recent market research analysis on “Low Voltage Cable Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitors analysis and a detailed overview of the global low voltage cable market in terms of market segmentation by installation, voltage, material, end user, and by region.

Rising Demand for Energy across the globe to Promote Global Market Share of Low Voltage Cable

The demand for low voltage cables is on the rise due to the increased need for energy. With the global population growing experts predict a 49% surge in global energy demand within the next two decades. As more individuals and industries depend on electricity to fuel their homes and operations there is a requirement for reliable and efficient cables. Additionally, the shift towards energy sources like wind and solar power has further fueled the demand, for low voltage cables. These energy sources necessitate cables that can endure harsh weather conditions while efficiently delivering power over long distances.

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Some of the major growth factors and challenges that are associated with the growth of the global low voltage cable market are:

Growth Drivers:

·      The growing demand for renewable sources of energy, such as solar and wind power

·      Increasing demand for energy-efficient and safe cable systems for a wide range of applications such as telecommunications, data centers, and industrial automation

Challenges:

One of the major factors that could limit the growth of the global low voltage cable market is the increasing presence of cheaper alternatives such as optical fibre cables. Optical fibre cables are more efficient and require less power to transmit data, which makes them much more cost-effective in the long term. Additionally, the high cost of installation and maintenance of the cables could also act as a deterrent to the growth of the market.

By installation, the global low voltage cable market is segmented into overhead, underground. In the year 2037 it is expected that the underground segment will have the market share accounting for approximately 58%. The use of cabling ensures more reliable cable performance compared to overhead cabling. This is because underground cables are less exposed to weather conditions reducing the chances of any issues.

Additionally, underground cables minimize the risk of fire hazards when compared to cables making them more in demand. Moreover, underground cables are not affected by UV rays, which can decrease their effectiveness over time. This makes them more trustworthy and long lasting making them a preferred choice, over cables.

By region, the Europe low voltage cable market is to generate the highest revenue by the end of 2037. This growth is anticipated by the increasing demand for safe and reliable electricity transmission and distribution networks, increased investments in smart grid technologies, and a growing demand for renewable energy sources, such as solar, wind, and geothermal energy. With the increasing focus on ecological sustainability, governments across Europe have been introducing regulations to reduce carbon emissions, thereby driving investments in renewable energy sources. This, in turn, has led to an increase in the demand for low voltage cables to support the development of renewable energy sources, while also enhancing the reliability and safety of electricity transmission and distribution networks.

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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

This report also provides the existing competitive scenario of some of the key players of the ABB Ltd., Prysmian SpA, KEI Industries Limited, NKT Cables Group GmbH, Cablel Hellenic Cables Group, General Cable, Brugg Kabel AG, Zest WEG, Encore Wire Corporation, Finolex Cables and others.

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