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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the World Low Voltage Cable Market
Request Now !Low voltage power cable forms an essential component for secondary distribution of power at voltage less than 1 kV. Different types of low voltage accessories include fittings and fixtures, cable joints, cable terminations, among others which are used for cable installations in overhead and underground installations.
Increasing production of renewable power along with growth in industrialization are the key factors that drive the growth of this market. Furthermore, government incentives to expand or upgrade the transmission & distribution (T&D) system is another factor boosting the growth of the market. Lack of funding make the market volatile along with significant delay in authorization of different T&D projects due to complexity in planning are key restraining factors that hinders the growth of the market. Increasing demand in power along with various wind power policies in different countries are the factors that would offer abundant growth opportunities to the market. Volatility in prices of raw material along with low-quality & cheap products in grey market are major challenges faced by key market players.
The report segments the market on the basis of installation, products end user and region. On the basis of installation the market is further segmented into overhead and underground. Based on the products, the market is segmented into overhead and underground. The overhead product is further segmented into conductors, fittings & fixtures and others. The underground product is further segmented into PVC cables, XLPE cables, cable terminations, cable joints and others. On the basis of end-users the market is segmented into infrastructure, commercial & residential, transportation & others, industrial, utilities, oil & gas, mining, chemicals & petrochemicals, renewables, wind, solar and others, where others segment consists of fertilizers plant and cement. On the basis of region, the market is segmented into Asia-Pacific, Europe, North America, Latin America and Middle East & Africa.
Key market players operating in this market are Prysmian S.P.A, Nexans S.A., General
Sumitomo Electric Industries, Ltd., NKT Cables Group GmbH, ABB Ltd., Encore Wire Corporation, Finolex Cables Limited, TE Connectivity Ltd., and Bahra Advanced Cable Manufacture Co. Ltd.
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