Low Voltage Cables and Accessories Market is expected to grow at a CAGR of 5.8% through 2030F
The global Low Voltage Cables and
Accessories Market is expected to be led by North America, driven by Technological
Advancements and Smart Grid and IoT Integration during the forecast period 2026-2030F
According to TechSci Research
report, “Low Voltage Cables
and Accessories Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2030F, The Global Low Voltage Cables and Accessories
Market was valued at USD 123.1 billion in 2024 and is expected to reach USD
174.2 billion by 2030 with a CAGR of 5.8% through 2030, The increasing emphasis on safety and regulatory compliance across
industries has created a demand for high-quality, durable LV cables and
accessories. Stringent safety standards in sectors such as construction,
manufacturing, and energy have prompted industries to invest in advanced cable
solutions that offer better protection against electrical hazards, including overheating
and fire risks.
The
expanding data center industry is another significant driver, as these
facilities require highly reliable electrical systems to ensure continuous
operation. The growth of cloud computing, big data, and IoT (Internet of
Things) applications necessitates robust power infrastructure, which includes
efficient low voltage cables and accessories. Additionally, as the automotive
industry shifts towards electric vehicles (EVs), there is a growing need for
specialized low voltage cables for EV charging stations and battery systems. The
rising focus on sustainability and green technologies is also driving demand
for energy-efficient cables. With an increasing shift toward renewable energy
sources, such as solar and wind power, LV cables are essential for connecting
energy generation units to the grid. Moreover, the growing trend of home
automation and smart homes is increasing the need for advanced cabling systems,
further propelling market growth.
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Based on Product Type, Cable
Terminations segment dominated the Low Voltage Cables and Accessories Market in
2024 and maintain its leadership throughout the forecast period, Cable
terminations play a critical role in ensuring reliable and safe connections
between cables and electrical equipment, making them indispensable components
in various residential, commercial, and industrial power distribution systems.
Their function is vital in maintaining the integrity of electrical networks,
preventing power losses, ensuring system stability, and safeguarding against
electrical faults such as short circuits and overloads. As the demand for
uninterrupted and efficient power distribution grows across multiple sectors,
so does the need for high-quality and durable cable termination solutions.
The growth in urbanization and
infrastructure development, particularly in emerging economies, has led to the
construction of new buildings, factories, and public utilities that require
extensive electrical cabling networks. Cable terminations are essential in such
settings as they enable safe and secure connections in switchgear,
transformers, and control panels. Moreover, the adoption of smart grid
technologies and energy-efficient systems is further propelling the demand for
advanced cable termination accessories capable of withstanding fluctuating
voltage levels and environmental stresses.
In addition to their safety function,
modern cable terminations are designed for ease of installation, long service
life, and high-performance operation under varying climatic conditions. This
makes them suitable for both indoor and outdoor applications, including
underground cable installations and renewable energy projects such as solar and
wind farms. The global push toward clean and sustainable energy sources has
increased investments in renewable infrastructure, which in turn is boosting
the demand for reliable LV cable terminations to handle the power generated by
these systems and connect it to the main grid.
The industrial and commercial sectors
also rely heavily on robust cable terminations to support automation systems,
manufacturing equipment, HVAC systems, and lighting. With the increased
digitization of industrial operations and the expansion of power-intensive data
centers, cable terminations play a pivotal role in ensuring uninterrupted power
flow and minimizing downtime.
Furthermore, manufacturers are
continuously innovating to enhance the performance, flexibility, and
environmental resistance of cable terminations. The availability of a wide
range of materials and technologies, such as heat-shrink and cold-shrink terminations,
allows for customized solutions tailored to specific application needs. These
advancements, along with rising safety standards and regulatory compliance
requirements, are reinforcing the importance of the cable terminations segment,
solidifying its dominance in the global Low Voltage Cables and Accessories
Market.
Asia Pacific is emerging as the
fastest-growing region for the Low Voltage Cables and Accessories Market, driven
by dynamic urbanization, expanding infrastructure, and increasing investments
in power generation and distribution. Countries like China, India, Japan, and
Southeast Asian nations are witnessing a sharp rise in residential, commercial,
and industrial construction activities, which is fueling the demand for
efficient and safe electrical cabling systems. The region’s robust economic
growth, coupled with rising electricity consumption and efforts to expand
access to reliable power in rural and semi-urban areas, is significantly
boosting the adoption of low voltage cables and related accessories.
Governments across the region are
investing heavily in smart grid technologies, renewable energy projects, and
modernization of existing electrical infrastructure. Initiatives such as “Make
in India,” “Smart Cities Mission,” and China’s “Belt and Road Initiative” have
created a favorable environment for the growth of the electrical components
industry, including LV cables. Moreover, rapid industrialization and the
digital transformation of key sectors are increasing the need for secure and
high-performance power distribution systems. The presence of numerous domestic
manufacturers, combined with rising foreign direct investments and
technological advancements, is further accelerating market expansion. As a
result, Asia Pacific is poised to lead the global low voltage cables and
accessories market in the coming years.
Key market players in the Low Voltage
Cables and Accessories Market are: -
- ABB Limited
- Nexans SA
- NKT A/S
- Prysmian SpA
- Eland Cables Ltd
- TE Connectivity Ltd
- Sumitomo Electric Industries Limited
- Brugg Kabel AG
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“The global Low Voltage Cables and
Accessories Market presents significant opportunities driven by rising
urbanization, industrialization, and the transition toward renewable energy.
Growth in smart cities, infrastructure development, and the expansion of
electric vehicle charging stations are creating a demand for efficient and
reliable LV cables. Additionally, the increasing adoption of smart grids,
energy-efficient systems, and automation technologies offers potential for
advanced cable solutions. The rising need for rural electrification and
sustainable energy solutions, combined with regulatory support for clean
energy, provides new avenues for manufacturers to innovate and capture market
share across emerging regions, particularly in Asia Pacific.” said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based global
management consulting firm.
“Low Voltage Cables and
Accessories Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Product Type (Cable Joints, Cable Terminations,
Connectors, Conductors, Others), By Installation (Underground, Submarine), By
Application (Residential, Non-Residential), By Region, By Competition,
2020-2030F” has
evaluated the future growth potential of Low Voltage Cables and Accessories
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Low Voltage Cables and
Accessories Market.
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