SHERIDAN, WYOMING, UNITED STATES, October 13, 2021 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Low Voltage Cable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global low voltage cable market reached a value of US$ 56.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.5% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Low voltage (LV) cables are utilized for transferring power to electrical equipment that has a small voltage rating. They can handle 75-1500 volts in case of direct current and between 50-1000 volts of alternating current. These cables are produced using stranded or solid aluminum and flexible copper conductors. High-quality LV cables are fire-resistant, halogen-free, and ensure quick data transfer, efficient use of energy, and seamless operations. LV cables are mainly used for low-stress applications in automation systems, video surveillance, infrastructure, sounds, security alarms, etc.
The growing energy demand and incorporation of smart grid networks across the globe are primarily driving the growth of the market. Furthermore, the rising need for uninterrupted power supply in several industries has also augmented the utilization of LV cables. Additionally, the increasing upgradation of the existing telecommunication infrastructures is further bolstering the market growth. Moreover, the widespread adoption of these cables in the installation of transmission and distribution (T&D) networks for electricity, telephone, and internet systems is also impelling the market growth. Besides this, LV cables are extensively being used in the nacelle of wind turbines to connect the transformer to the low-voltage generator. The emerging need to adopt renewable energy resources in the power generation process is projected to further drive the global LV cable market in the coming years.
Low Voltage Cable Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global low voltage cable market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Sumitomo Electric Industries
Encore Wire Corporation
Key Market Segmentation:
The report has segmented the global low voltage cable market on the basis of installation type, material, overhead product, underground product, end-user and region.
Breakup by Installation Type:
Breakup by Material:
Breakup by Overhead Product:
Fittings and Fixtures
Breakup by Underground Product:
Breakup by End-User:
Breakup by Region:
Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/low-voltage-cable-market
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Source: EIN Presswire