October 23, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Low Voltage Cable Market Insights, Forecast to 2025’, the worldwide low voltage cable market is expected to expand substantially by the year 2025.
Low voltage power cable is an important component for secondary distribution of power at voltage less than 1kV. It is used to transmit electric current and is covered with insulation to prevent unnecessary loss and damage on contact.
Growing power generation from renewable resources, coupled with rise in industrialization are the main factors driving low voltage market growth. Moreover, Government incentives to upgrade or expand the transmission & distribution system is further propelling the market growth. However, low funding, in consort with substantial delay in authorization of different transmission & development projects will hinder the industrial growth.
According to the report, details about the production and consumption graphs, along with revenue shares and segmental growth over the analysis period are encompassed. The research also provides a comprehensive insight about the sales channels & value chain, alongside the risks, challenges, driver, and opportunities impacting low voltage cable market.
Speaking of the product type, low voltage cable market is segmented as underground and overhead. While based on the application spectrum, the market is fragmented as wind power generation, infrastructure, mining, petroleum & natural gas, and utilities.
Considering the regional landscape, the global low voltage cable market is divided into five major regions; Brazil and rest of South America come under Central & South America; North America comprise of Mexico, United States, and Canada; Russia, Germany, France, Italy, UK, and rest of Europe fall under Europe; Middle East & Africa is split into Turkey, GCC Countries, South Africa, Egypt, and rest of Middle East & Africa; and Asia Pacific consists of Vietnam, China, Malaysia, Japan, India, Thailand, Australia, Indonesia, Philippines, and South Korea.
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Moreover, Asia Pacific dominated the low voltage cable market in 2014 and is presumed to grow significantly over the analysis period, owing to rapid urbanization, rising industrialization, and increasing spending power in developing nations like Japan, India, and China, cites the report.
The prominent companies operating in low voltage cable market include Southwire, Prysmian, Riyadh Cables, Nexans, Polycab Wires, General Cable, Kabelwerk Eupen, Nkt Cables, Hebei New Baofeng Wire & Cable, ABB, Dubai Cable, Encore Wire, Caledonian Cables, Finolex Cables, Brugg Group, and Bahra Advanced Cable Manufacture.
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