Global Low Voltage Cable Market Report and Forecast 2024-2032

Global Low Voltage Cable Market Outlook

The global low voltage cable market size reached a value of about USD 64.12 billion in 2023. The market is expected to grow at a CAGR of about 4.4% during the forecast period of 2024-2032 and likely attain a value of USD 94.47 billion by 2032.

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News and Developments in the Market

In 2018, Prysmian Group acquired General Cable. With the transaction, General Cable became a privately held company, and its shares ceased to list on the NYSE or any other public market.

There has been a growing dependence on computers, laptops, and associated technologies. Advancements in technology have led to multiple households possessing home offices with at least one powerful main desktop computer to manage tasks requiring high speed and more memory, such as editing photos, videos, websites, etc. Indeed, personal computers, laptops and smartphones have become more of an everyday item. All these gadgets and appliances need to be connected efficiently to communicate seamlessly even if located across spaces or rooms. Such requirements have led to increased demands from the low voltage cable market.

Flat TV screens in office or airport lounges that stream videos from the internet, and the expanding range of DAB radios that are linked to the internet and access radio stations across the globe, use low voltage cabling for superior performance, increased reliability, and flexibility. A wired network also ensures less interference and more security.

As different types of products like personal computers, phones, security cameras and TVs are linked to one another for seamless communication, it becomes rather important that the wiring and connections are well-organised, and well-labelled. Further, there must continually be the capacity to modify and add elements to the network. Thus, several homeowners, homebuilders, and home systems installers today prefer to set-up preconfigured high-speed cabling systems, also called structured cabling or wiring.

Key Trends in the Low Voltage Cable Market Indicate that Uses in Telephones, Landscape Lighting, Security System Cameras to Boost Market Growth

Low voltage refers to electrical wiring and trim not carrying the same amount of current as fixtures, power outlets, and switches. Objects considered low voltage draw less examination during inspections as the exposed wire does not present the same electrocution risk as a standard wire. Low voltage cables are generally employed for telephones, landscape lighting, garage door opener controls, smart doorbells, audio-visual wiring, nternet network and Wi-Fi, alarm system sensors and controls, intercom systems, heating and cooling thermostats, motion sensors, security system cameras, cable television, surround sound audio systems, and LED or low voltage lighting.

Low voltage wiring operates on infrastructure known as structured cabling. Low voltage cables are available in many sizes, types, and materials, each with specific uses. Cables generally comprise three major constituents - insulation, conductors, and protective outer sheaths. The constitution of individual cables differs with application.

• Telephone outlets are not as common as these used to be; plug-in cordless phones are used by several people. Several businesses still use wired phone systems connected to low voltage wiring. Businesses demand quick connectivity between several floors and departments, and low voltage cabling meets such demands. Fibre optic or ethernet cables are generally employed for telephone communications.

• It is considered wise to install wall outlets in spaces where it might be desirable to have a computer terminal, for example, in the bathroom, kitchen and where there may be cable outlets.

• Technological advancements have inspired increased cable use supporting the growth of the low voltage cable market. Applications include those associated with satellite TV and internet services. Several organisations such as restaurants, offices with many meeting rooms, and hospitals use cable television across several screens. Video delivery services such as cable television use coaxial or fibre optic cable.

• Security systems are today used by many homes and buildings. Low voltage cables are used in such systems.

• Intercoms are widely used today. Low voltage cables are employed in intercoms.

• Computer networks are used for many tasks, such as communicating with devices, people, and managing IP. In such networks, low voltage wiring is considered the superior wiring.

Suitability of Low Voltage Cables for Multiple Applications Likely to Stimulate Market

Low voltage cabling is extensively used by several industries, including those engaged in renewable energy, airports, distribution and power networks, automation, windmills, water, nuclear and thermal power stations, marine, telecommunications, defence, building, mining, offshore applications, ship wiring, railways, audio-visual and manufacturing industries.

Many types of low voltage cables are employed in LANs, supporting the low voltage cable market growth. Networks use various types of cables to fulfil their specific purposes. Cat5e is used for unshielded twisted-pair cabling (UTP); it can facilitate up to 100/1,000 Megabits (Mbps) at 350 Hz bandwidth. Unshielded, Cat5 and Cat5e are Ethernet cables that are employed to transmit video and telephone signals. These cables are utilised to link phones, automation networks, computer networks, video/audio, and more.

Cat5 was replaced with its improved model, the CAT6, and it carries more twists per cm as compared to Cat5 which allows for quicker data transfer. Cat6 also better limits crosstalk and system noise. Coaxial cables are employed to send internet, television, video, and voice data. It is made of copper, aluminium, and an exterior plastic jacket that shields from electromagnetic interference.

C-wire or common wire links low voltage heating systems with corresponding thermostats that are maintaining continuous power. Majority of newer HVAC systems use C-wires which makes them compatible with smart thermostats. Speaker wire is generally employed to send sound signals from a receiver (or amplifier) to a speaker. As the gauge becomes smaller, the wire becomes bigger and capable of handling more power.

Vast Advantages of Low Voltage Wiring to Provide Opportunities to the Market

Low Voltage Wiring Offers Greater Communication Speeds

While wireless networks are increasingly becoming faster every year, low voltage wiring still remains the superior alternative.

Saves Power

There is greater energy efficiency with low voltage wiring; it does not use over 50V of power, and is a preferred choice fuelling the low voltage cable market.

Scalable and Streamlined

Low voltage wiring has greater scalability and is more streamlined when set up in a structured cabling system controlled with patch panels.

Customisation Capabilities

Low voltage wiring may be customised to meet the requirements of any organisation, firm or business.

Lesser Risk

Lower voltage wiring poses lower risk of electrocution and serious bodily harm.

Higher Costs May Disrupt the Sector

Setting up low voltage cabling as an individual project may be generally disruptive to decor and prove to be more expensive.

Market Analysis

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By installation, the global low voltage cable market is segmented into Overhead (further broken down by type into Conductors, Fittings and Fixtures, and others), and Underground (further broken down by type into PVC Cables, XLPE Cables, Cable Terminations, and others). On the basis of material, the market is bifurcated into Copper and Aluminium.  On the basis of application, the market is classified into Industrial, Commercial, and Residential. On the basis of region, the market is segmented into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global low voltage cable market, assessing the competitive landscape and observing latest developments like mergers, acquisitions, investments, and expansion plans. Major players in the domain include Prysmian S.p.A., ABB Ltd., General Cable Corporation, Sumitomo Electric Industries, Ltd., KEI Industries Limited, NKT A/S, Riyadh Cables Group, and others.

Underground Cables May Strengthen Systems and Offer Greater Resilience and Decrease Maintenance Needs

Bare overhead conductors are used more where significant amounts of electrical energy need to be transported at high voltage, across long distances, such as open spaces or open countryside. Underground insulated cables are more popular where electrical energy needs to be transported at lower voltages over shorter distances or in populated places like cities and towns. Thus, growing populations and urbanisation are expected to boost the global market. Increasing urbanisation is a major factor expected to drive the global low voltage cable market. Underground cables may strengthen systems and offer greater resilience and decrease maintenance needs.

Copper Wires and Cables are Expected to Drive Market Growth

Both aluminium and copper are used for home and office cabling solutions. However, copper is preferred over aluminium because of the ease of use it offers. Copper wires are more durable, stable and perform better than aluminium wires. Copper also exhibits better conductivity than aluminium. However, copper wires are more expensive than aluminium wires. While aluminium wires are cheaper, these are corrosive and may cause fires. Considering the safety and durability offered by copper wires, it is expected that copper wires and cables would drive low voltage cable market growth.

Increasing Number of Laptops, Computers and Smartphones Used by Households is Expected to Boost Market Growth

Low voltage wiring has gained prominence due to rising business digitisation. Today, any commercial installation essentially needs computers, internet access, and phone access. These important systems warrant appropriate low voltage wiring. Growing dependence of businesses and expanding business operations of which digitisation is a critical component are expected to drive market growth.

Increasing number of laptops, computers and smartphones being used by households is expected to boost low voltage cable market growth. There are many people who have set up home offices and work from home. This trend is also expected to stimulate market growth.

In Asia, Digitisation of the Economy and Technological Penetration are Expected to Drive Market Growth

In Asia, digitisation of the economy and technological penetration are expected to be key drivers of market growth. Such digital transformation in Asian nations has opened several opportunities for citizens. The Philippines, Malaysia, Spain, Netherlands, and India have emerged as key nations in terms of e-commerce retail growth. With growing emphasis of governments and adoption of digitisation by businesses, and rapid urbanisation in developing nations, the global low voltage cable market is expected to witness growth during the forecast period.

In developed regions like North America and Europe, low-voltage cables are expected to be used in overhead and underground applications in residential and commercial buildings. In such regions, uses for low voltage heating and air conditioning control systems and low voltage applications such as doorbells, intercoms and entry phones, burglar alarms, computer networking, phones, TV and satellite aerial feeds, night lightings, interconnected fire alarms, backup lightings, security cameras, remote controls, radios, music and video distributions, and help call systems are expected to boost market growth.

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Competitive Landscape

Prysmian S.p.A. offers a wide range of services and know-how in energy and telecoms systems. The Group manufactures cables and systems that are used underground for the transmission and distribution of power. It also produces  medium and low voltage cables that find applications in the construction and infrastructure segments.

ABB Ltd is a global technology company engaged in electrification, process automation, motion, and robotics & discrete automation.

General Cable Corporation is considered to be among the largest wiring and cabling companies worldwide, involved in designing, manufacturing, and distribution of cables. They produce cables made out of copper and aluminium, as well as optical fibre cables.

Sumitomo Electric Industries, Ltd (founded 1897 in Osaka, Japan,) is a Fortune Global 500 company serving five major segments - Automotive, Info-communications, Electronics, Energy and Environment, and Industrial Materials.

KEI Industries Limited was established in 1968, primarily producing house wiring rubber cables. Today, the company has global presence, and offers holistic wire and cable solutions. Its products serve customers in more than 45 countries.

NKT A/S provides turnkey cable solutions to meet growing power demands. The company is a global supplier with manufacturing facilities around Europe.

Riyadh Cables Group produces and supplies all types of wire and cables at its modern facilities. Riyadh Cables’ affiliates spread to twenty-two domestic/regional locations, including Riyadh/Saudi Arabia, the United Arab Emirates, and Iraq Republic.

Key Highlights of the Report