Low Voltage Cable Market- Rising Demand for Power and Increasing Automotive Industry Growth in Asia Pacific Region with High Potential
Zion Market Research has published a new report titled “Low Voltage Cable Market (By End Users: Infrastructure, Utilities, Oil & Gas, Industrial, and Renewable & Others; For Overhead And Underground Applications): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2016 – 2022”
Sarasota, FL -- (SBWire) -- 01/15/2018 --According to the report, global low voltage cable market was valued at USD 110.8 billion in 2016 and is expected to reach USD 163.5 billion in 2022, growing at a CAGR of 6.3% between 2017 and 2022. The report covers forecast and analysis for the low voltage cable market on a global and regional level. The study provides historical data from 2014 to 2016 along with a forecast from 2017 to 2022 based on revenue (USD billion). The study includes drivers and restraints for the low voltage cable market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the low voltage cable market on a global level.
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Low voltage cables are utilized for electrical equipment with a voltage rating for alternating current between 50 to 1000v and for direct current between 75 to 1500v, thus they are not subjected to high electric stress. Low voltage cables are mostly made of tinned copper or plain or standard aluminum and the wire can have circular, compacted or shaped configuration. The basic requirement for transmission and distribution of electricity are power cables and accessories from the point of generation to the point of consumption. Low voltage cable is an important component for secondary distribution of electricity. Low voltage accessories are utilized to maintain cables in distribution network.
Increasing demand of renewable power and expansion in urbanization and industrialization are expected to remain major driving factors for the growth in low voltage cable market. Lack of financial support and delays in authorization of different projects could be restraining factors for the growth of low voltage cable market. The global low voltage cable market offers new growth opportunities, due to rising demand of power and increasing automotive industry growth in Asia Pacific region. The price of raw material is unpredictable and growing neutral market providing cheap products and low quality is expected to promote the usage of low voltage cables.
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Low voltage cable Market: End Users Analysis
Oil & Gas
Renewables & Others
Low voltage cable Market: Application Analysis
Asia Pacific region was the most attractive and largest market region dominates the global industry in low voltage cable market. Low voltage cable market is expected to observe an extensive growth due to increasing economy by the government and other financial institution in U.S. The Europe region is estimated to view attractive growth subjected to rising adoption of viable technology. In India, the sales customer vehicles, two wheelers and commercial vehicles grew in 2016. The Middle East and Africa low voltage cable market is in nascent stage of development. China, U.S, India, Germany, U.K, Brazil, South Africa and Japan are the major countries contributing to the growth of the global low voltage cable market.
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Some of the major players involved in the global low voltage cable market include ABB Ltd, Sumitomo Electric Industries, Nexans S.A, Prysmian S.P.A, Finolex Cables Limited, General Cable, NKT Cables, Group GmbH, Encore Wire, Polycab Wires Pvt. Ltd, and Bahra Advanced Cable Manufacture Co. Ltd. among others.
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