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Low Voltage Cable Market projected to hit $278.7 billion by 2032
Low Voltage Cable Market for the renewable energy segment was the highest revenue contributor to the market, growing with a CAGR of 5.9%.” - Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, February 19, 2024 /EINPresswire / --
According to a new report published by Allied Market Research, The low voltage cable market size was valued at $158.9 billion in 2022, and is estimated to reach $278.7 billion by 2032, growing at a CAGR of 5.9% from 2023 to 2032.
Low voltage cable are electrical cables designed to transmit power or signals at relatively low voltages, typically ranging from a few volts to a few hundred volts. They are commonly used in various applications such as residential wiring, telecommunications, data transmission, and automotive systems. These cables are constructed with materials and designs suitable for handling lower voltage levels safely and efficiently.
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Asia-Pacific low voltage cable market is the fastest growing region, with a CAGR of 6.2%.
Key players in the low voltage cable industry include Prysmian S.p.A., Nexans S.A., Sumitomo Electric Industries, Ltd., NKT A/S, TE Connectivity, Polycab India Ltd., Belden Inc., ABB, Bahra Electric, and KEI Industries Limited.
The low voltage cable market encompasses a wide range of cables used for transmitting power, data, and signals at low voltages, typically below 1,000 volts. These cables find applications in various industries, including construction, utilities, manufacturing, telecommunications, and automotive.
Data centers handle a huge amount of data processing and storage, which is the basis for modern digital infrastructure. In data centres, it is necessary to connect servers, switches, routers and other network equipment using low voltage cables such as fiber optic cable or copper cable in order to allow effective transmission and communication.
Power Cable:
Low Voltage Power Cables: These cables are used to distribute electrical power in residential, commercial, and industrial buildings. They typically have insulated conductors and are rated for voltages up to 1 kV.
Control Cables: Control cables are used for transmitting control signals and low-power electrical signals between devices, such as between a control panel and a motor or sensor.
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Communication Cable:
Ethernet Cables: These cables are used for local area network (LAN) connections and data transmission. Common types include Cat5e, Cat6, and Cat7 cables.
Coaxial Cables: Coaxial cables are often used for cable television (CATV), broadband internet, and security camera systems.
Fiber Optic Cables: Fiber optic cables are used for high-speed data transmission, telecommunications, and internet connectivity.
Instrumentation Cables:
Instrumentation Cables: These cables are designed for use in industrial environments to transmit signals from sensors, instruments, and control systems. They are often shielded to protect against electromagnetic interference (EMI).
Speaker Cables: Speaker cables are used to connect audio speakers to amplifiers or sound systems in home theaters, concert venues, and audio systems.
Thermocouple Cables: Thermocouple cables are used in temperature measurement and control systems, particularly in industrial settings. They are designed to transmit signals from thermocouples (temperature sensors) to monitoring or control devices.
Low Voltage Lighting Cables: These cables are used in low voltage lighting systems, such as landscape lighting, to distribute power to light fixtures.
Security and Alarm Cables: These cables are used for connecting security cameras, alarm systems, access control systems, and intercoms in residential and commercial security applications.
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Automotive Cables: In automotive applications, low voltage cables are used for wiring various electrical systems in vehicles, including lighting, sensors, and entertainment systems.
Solar PV Cables: Solar photovoltaic (PV) cables are used to connect solar panels to inverters and the electrical grid. They are designed to withstand outdoor conditions and carry direct current (DC) from the panels.
A combination of fiber optic and copper low voltage cables is used for backhaul connections in wireless communication networks such as 4G LTE and 5G. In order to ensure reliable and high capacity data transmission, these cables connect wireless base stations to the core network.
The report provides an extensive analysis of the current and emerging low voltage cable market trends and dynamics.
As per low voltage cable market analysis, on the basis of installation type, the underground segment was the highest revenue contributor to the market in 2022.
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As per low voltage cable market scope, based on end use, the renewable energy segment was the highest revenue contributor to the market, growing with a CAGR of 5.9%.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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