Product Code: 29063
The Global Low Voltage Cables and Accessories Market was valued at USD 123.1 billion in 2024 and is projected to reach USD 174.2 billion by 2030, growing at a CAGR of 5.8% during the forecast period. The market is primarily driven by increasing electricity demand due to rising urbanization, population growth, and industrial expansion, especially in developing regions. As global energy consumption continues to climb, the need for reliable low voltage (LV) infrastructure becomes more critical. Infrastructure development across residential, commercial, and industrial sectors is further boosting market growth. The shift to renewable energy sources like solar and wind also increases the demand for LV cables to support grid integration and energy distribution. Technological enhancements, such as halogen-free and fire-retardant materials, have improved the safety and performance of these cables, encouraging broader adoption. Furthermore, trends like smart grid implementation, IoT integration, and the proliferation of EV charging infrastructure are reinforcing the importance of robust LV cabling solutions. Stringent safety regulations and quality standards continue to solidify market demand across major regions including Asia-Pacific, North America, and Europe.
Market Overview |
Forecast Period | 2026-2030 |
Market Size 2024 | USD 123.1 Billion |
Market Size 2030 | USD 174.2 Billion |
CAGR 2025-2030 | 5.8% |
Fastest Growing Segment | Cable Joints |
Largest Market | North America |
Key Market Drivers
Rising Electricity Demand and Infrastructure Development
A major factor driving the global Low Voltage (LV) Cables and Accessories Market is the sustained increase in electricity demand due to urbanization, industrial growth, and population expansion. According to the IEA, electricity consumption is projected to grow at an annual rate of 2.1% through 2040. Expanding urban centers and infrastructure developments necessitate reliable power distribution systems, where LV cables are essential. These cables ensure efficient electricity delivery in residential, commercial, and industrial settings. Emerging economies such as China and India are experiencing rapid industrialization, boosting the demand for sophisticated electrical systems that rely heavily on LV cables. Additionally, ongoing upgrades to aging infrastructure in developed regions and new construction projects in developing countries further elevate the market demand. Governments and private sectors are investing significantly in power networks, especially in the Middle East, Africa, and Asia-Pacific, where urban development is progressing at an accelerated pace.
Key Market Challenges
Fluctuating Raw Material Prices and Supply Chain Disruptions
A major challenge impacting the Low Voltage (LV) Cables and Accessories Market is the volatility in raw material costs and persistent supply chain disruptions. Essential materials like copper, aluminum, and plastics are susceptible to price fluctuations influenced by global demand, mining operations, energy costs, and geopolitical factors. Copper, a key conductive material, is particularly affected by its dependence on mining outputs and industrial demand. Similarly, aluminum prices are influenced by energy-intensive production processes and global energy costs. Additionally, the prices of insulating materials derived from petrochemicals are also unstable due to market dynamics and regulatory constraints. These fluctuations complicate cost forecasting for manufacturers and can hinder profitability, particularly in highly competitive markets. Supply chain delays-stemming from logistical bottlenecks, labor shortages, or geopolitical disruptions-further exacerbate production timelines and cost pressures.
Key Market Trends
Increasing Demand for Environmentally Friendly and Sustainable Cables
A significant trend in the LV cables market is the rising preference for eco-friendly and sustainable cable solutions. With greater emphasis on environmental responsibility and regulatory compliance, industries are increasingly adopting low voltage cables made from halogen-free, recyclable, and non-toxic materials. These materials not only minimize environmental impact but also enhance fire safety by reducing toxic emissions during combustion. The push for greener infrastructure in residential, commercial, and industrial projects is driving this trend. Regulations like the EU's RoHS directive, which limits the use of hazardous substances in electrical equipment, are accelerating the shift toward sustainable cable options. Manufacturers are investing in R&D to develop innovative cable materials that meet safety standards and sustainability goals, reflecting a broader transformation across the power distribution sector.
Key Market Players
- ABB Limited
- Nexans SA
- NKT A/S
- Prysmian SpA
- Eland Cables Ltd
- TE Connectivity Ltd
- Sumitomo Electric Industries Limited
- Brugg Kabel AG
Report Scope:
In this report, the Global Low Voltage Cables and Accessories Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Low Voltage Cables and Accessories Market, By Product Type:
- Cable Joints
- Cable Terminations
- Connectors
- Conductors
- Others
Low Voltage Cables and Accessories Market, By Application:
- Residential
- Non-Residential
Low Voltage Cables and Accessories Market, By Installation:
Low Voltage Cables and Accessories Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Colombia
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Low Voltage Cables and Accessories Market.
Available Customizations:
Global Low Voltage Cables and Accessories Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
3. Executive Summary
- 3.1. Overview of the Market
- 3.2. Overview of Key Market Segmentations
- 3.3. Overview of Key Market Players
- 3.4. Overview of Key Regions/Countries
- 3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Low Voltage Cables and Accessories Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Product Type (Cable Joints, Cable Terminations, Connectors, Conductors, Others)
- 5.2.2. By Application (Residential, Non-Residential)
- 5.2.3. By Installation (Underground, Submarine)
- 5.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)
- 5.3. By Company (2024)
- 5.4. Market Map
6. North America Low Voltage Cables and Accessories Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.2. By Application
- 6.2.3. By Installation
- 6.2.4. By Country
- 6.3. North America: Country Analysis
- 6.3.1. United States Low Voltage Cables and Accessories Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.2. Market Share & Forecast
- 6.3.1.2.1. By Product Type
- 6.3.1.2.2. By Application
- 6.3.1.2.3. By Installation
- 6.3.2. Canada Low Voltage Cables and Accessories Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Product Type
- 6.3.2.2.2. By Application
- 6.3.2.2.3. By Installation
- 6.3.3. Mexico Low Voltage Cables and Accessories Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Product Type
- 6.3.3.2.2. By Application
- 6.3.3.2.3. By Installation
7. Europe Low Voltage Cables and Accessories Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Application
- 7.2.3. By Installation
- 7.2.4. By Country
- 7.3. Europe: Country Analysis
- 7.3.1. Germany Low Voltage Cables and Accessories Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Product Type
- 7.3.1.2.2. By Application
- 7.3.1.2.3. By Installation
- 7.3.2. France Low Voltage Cables and Accessories Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Product Type
- 7.3.2.2.2. By Application
- 7.3.2.2.3. By Installation
- 7.3.3. United Kingdom Low Voltage Cables and Accessories Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Product Type
- 7.3.3.2.2. By Application
- 7.3.3.2.3. By Installation
- 7.3.4. Italy Low Voltage Cables and Accessories Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Product Type
- 7.3.4.2.2. By Application
- 7.3.4.2.3. By Installation
- 7.3.5. Spain Low Voltage Cables and Accessories Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Product Type
- 7.3.5.2.2. By Application
- 7.3.5.2.3. By Installation
8. Asia Pacific Low Voltage Cables and Accessories Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Application
- 8.2.3. By Installation
- 8.2.4. By Country
- 8.3. Asia Pacific: Country Analysis
- 8.3.1. China Low Voltage Cables and Accessories Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Product Type
- 8.3.1.2.2. By Application
- 8.3.1.2.3. By Installation
- 8.3.2. India Low Voltage Cables and Accessories Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Product Type
- 8.3.2.2.2. By Application
- 8.3.2.2.3. By Installation
- 8.3.3. Japan Low Voltage Cables and Accessories Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Product Type
- 8.3.3.2.2. By Application
- 8.3.3.2.3. By Installation
- 8.3.4. South Korea Low Voltage Cables and Accessories Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Product Type
- 8.3.4.2.2. By Application
- 8.3.4.2.3. By Installation
- 8.3.5. Australia Low Voltage Cables and Accessories Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Product Type
- 8.3.5.2.2. By Application
- 8.3.5.2.3. By Installation
9. Middle East & Africa Low Voltage Cables and Accessories Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Product Type
- 9.2.2. By Application
- 9.2.3. By Installation
- 9.2.4. By Country
- 9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Low Voltage Cables and Accessories Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Product Type
- 9.3.1.2.2. By Application
- 9.3.1.2.3. By Installation
- 9.3.2. UAE Low Voltage Cables and Accessories Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Product Type
- 9.3.2.2.2. By Application
- 9.3.2.2.3. By Installation
- 9.3.3. South Africa Low Voltage Cables and Accessories Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Product Type
- 9.3.3.2.2. By Application
- 9.3.3.2.3. By Installation
10. South America Low Voltage Cables and Accessories Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1. By Product Type
- 10.2.2. By Application
- 10.2.3. By Installation
- 10.2.4. By Country
- 10.3. South America: Country Analysis
- 10.3.1. Brazil Low Voltage Cables and Accessories Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Product Type
- 10.3.1.2.2. By Application
- 10.3.1.2.3. By Installation
- 10.3.2. Colombia Low Voltage Cables and Accessories Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Product Type
- 10.3.2.2.2. By Application
- 10.3.2.2.3. By Installation
- 10.3.3. Argentina Low Voltage Cables and Accessories Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Product Type
- 10.3.3.2.2. By Application
- 10.3.3.2.3. By Installation
11. Market Dynamics
- 11.1. Drivers
- 11.2. Challenges
12. Market Trends and Developments
- 12.1. Merger & Acquisition (If Any)
- 12.2. Product Launches (If Any)
- 12.3. Recent Developments
13. Company Profiles
- 13.1. ABB Limited
- 13.1.1. Business Overview
- 13.1.2. Key Revenue and Financials
- 13.1.3. Recent Developments
- 13.1.4. Key Personnel
- 13.1.5. Key Product/Services Offered
- 13.2. Nexans SA
- 13.3. NKT A/S
- 13.4. Prysmian SpA
- 13.5. Eland Cables Ltd
- 13.6. TE Connectivity Ltd
- 13.7. Sumitomo Electric Industries Limited
- 13.8. Brugg Kabel AG
14. Strategic Recommendations
15. About Us & Disclaimer