The global low voltage cable market is witnessing high growth and is likely to expand at a steady growth over the forecast period. The market size is likely to reach USD 161.75 billion, in 2025; by 2035, the market is set to reach USD 284.25 billion. The segment is projected to expand at a compound annual growth rate (CAGR) of 5.8%, owing to rising demand for low voltage cables in diverse sectors, such as construction, telecommunication and energy.
In 2024, the main drivers were ongoing urbanization and development of smart infrastructure in emerging sectors (especially in the Asia-Pacific and Middle East). North America and Europe experienced an increase in demand from renewable energy projects such as wind and solar farms, necessitating improved low voltage cabling systems for power distribution.
As electric vehicles, smart grids, and IoT applications become more prevalent, the demand for resilient electrical infrastructure continues to rise, driving this expansion. In addition, the low voltage cables are evolving with the advancement of cable technology and materials technologies, which are improving their efficiency and performance. The upward trend of the segment signifies a positive growth outlook and more premises for every manufacturer and supplier worldwide.
| Metric | Value |
|---|---|
| Industry Size (2025E) | USD 161.75 billion |
| Industry Value (2035F) | USD 284.25 billion |
| CAGR | 5.8% |
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Future Market Insights in a recent study surveyed stakeholders involved in the global low voltage cable segment. 65% of those surveyed also agreed with the statement that the increasing trend toward renewable power like solar and wind energy is a major driving force behind the growth of the low voltage cable industry.
This trend is particularly strong in regions including Europe and North America that have aggressive decarbonization targets. With renewable energy increasingly becoming the power source of the future, these energy sectors definitely need advanced cable solutions to assist with the effective and sustainable electricity transmission and distribution.
The demand for low-voltage cables in the forthcoming years is also expected to rise significantly due to the growing penetration of smart grids and electric vehicle (EV) infrastructure. The combined benefits of these solutions will improve the performance and reliability of electrical systems, which will drive demand for specialized cable products which will drive demand for specialized cable products as these technologies continue to develop,
In addition, 40% of industry participants are expecting technological innovations in cable production, including the use of recyclable raw materials and enhanced fire resistance, to be fundamental to the development.
With growing concerns for sustainability, stakeholders are seeking cables that conform to stricter environmental and safety requirements. Manufacturers are answering this call by creating products that deliver more performance with less environmental impact.
| Country | Key Regulations Impacting Low Voltage Cable Landscape |
|---|---|
| United States | National Electrical Code (NEC) sets standards for cable installation and fire resistance.
California's Title 24 Energy Efficiency Standards promote the use of energy-efficient materials in construction, including cables. |
| European Union | The EU's RoHS (Restriction of Hazardous Substances) Directive limits the use of hazardous materials in cables.
EN 50575 standard for cables used in construction works defines performance criteria for fire safety and environmental impact. |
| Germany | VDE (Association for Electrical, Electronic & Information Technologies) regulations ensure cables meet strict safety and quality standards, particularly for fire resistance.
Germany's Energy Saving Ordinance mandates the use of energy-efficient systems, influencing cable specifications. |
| China | The GB/T standard covers requirements for cables, including fire safety and durability.
China's Environmental Protection Law enforces the reduction of toxic chemicals in manufacturing processes, affecting low voltage cables. |
| India | The Bureau of Indian Standards (BIS) mandates quality certifications for low voltage cables.
The National Building Code of India sets regulations for electrical installations in buildings, affecting cable selection and installation practices. |
| Australia | The Australian/New Zealand Standard AS/NZS 3000:2018 sets guidelines for electrical installations and low voltage cable specifications.
The Australian Green Building Council (AGBC) promotes the use of sustainable materials in construction, influencing cable standards. |
| 2020 to 2024 (Historical Overview) | 2025 to 2035 (Future Outlook) |
|---|---|
| Industry Growth: The low voltage cable sector saw steady growth, reaching USD 135.3 billion in 2022 and showing a consistent upward trend due to the expansion of infrastructure and increasing demand for electricity in emerging sectors. | Projected Growth: The segment is expected to expand significantly, reaching approximately USD 161.75 billion by 2025 and USD 284.25 billion by 2035. This growth will be driven by the expansion of renewable energy, the rise of electric vehicles, the development of smart cities, and increasing industrialization. The CAGR is forecasted to remain robust at 5.8%. |
| Technological Advancements: Manufacturers focused on improving fire resistance, insulation, and durability of cables, in line with stricter regulations and safety standards. The introduction of eco-friendly materials was a key trend. | Technological Innovations: The segment is expected to see further technological advancements, including the development of cables with higher energy efficiency, better fire resistance, and eco-friendly compositions. Cables for smart grids and other IoT applications are expected to gain popularity. |
| Regulatory Influence: Increasing government regulations, such as RoHS in the EU and the National Electrical Code (NEC) in the USA, prompted manufacturers to adopt safer, more sustainable materials. However, the impact of these regulations on production costs and lead times was a challenge. | Stricter Regulations: Governments will continue to enforce stricter environmental and safety regulations. Expect tighter restrictions on materials, such as reducing hazardous substances in cables and increasing standards for energy efficiency. This will drive innovation but may raise costs in the short term. |
| Industry Dynamics: Demand was driven by the construction sector, energy transition projects, and the rollout of smart grids. Developing regions, particularly in Asia-Pacific, saw rapid adoption due to infrastructure growth. However, some regions faced challenges like supply chain disruptions and fluctuating raw material prices. | New Segment Drivers: The roll-out of electric vehicle charging networks, the further expansion of smart cities, and renewable energy projects will be the primary drivers of the segment. Increased focus on sustainable construction practices will further boost the demand for low voltage cables with eco-friendly and high-performance features. |
| Challenges: Supply chain disruptions caused by the COVID-19 pandemic impacted production in 2020-2022, leading to delays and price volatility. Manufacturers also faced challenges in meeting increasing demand while complying with environmental and safety standards. | Challenges: The segment may face challenges related to the global economic environment, such as raw material price fluctuations and supply chain stability. Additionally, keeping up with rapidly evolving technological demands and increasing competition may pose obstacles for manufacturers. |
Overhead installations are the most typical, especially in regions with wide-open rural areas or where real estate is at a premium.
While these systems are less expensive and simpler to install, they are more vulnerable to environmental factors such as storms or strong winds.
Consequently, many utilities are choosing underground installations in urban areas or geographic areas that experience extreme weather.
Underground systems are pricier and labour-intensive to install, but their durability, safety, and aesthetics make them preferred for urban environments.
These systems are less prone to maintenance and provide more reliability over time.
Based on end use, the industry is driven primarily by industrial applications that involve a lot of cabling in the manufacturing plants, energy plants, and factories.
Commercial installations like office buildings and shopping malls are also significant contributors, especially in cities where sustainable energy systems are of utmost importance.
While the residential segment is smaller, it is the fastest growing due to an increase in home electrification, demand for renewable energy solutions like solar, and smart grid integration.
The industrial sector is still projected to be the largest segment, followed by commercial applications, as businesses keep investing in energy-efficient systems.
The demand for low-voltage cables is driven by the increasing penetration and deployment of smart homes and electric vehicles (EVs), along with the growing trend of renewable energy and significant infrastructure expansion. Numerous industries, including construction, telecommunications, and data centers, have driven this increased demand for low-voltage cables.
Urbanization and technological advancements have also contributed to the growth of the low voltage cable industry. Key drivers include the expansion of renewable energy initiatives like solar and wind power and the adoption of smart grid technologies.
Moreover, investments in the infrastructure sector, owing to USA government initiatives such as the infrastructure bill proposed by the Biden administration, will further create demand for low-voltage cables in energy transmission and distribution.
FMI forecasts that USA low-voltage cable sales will grow at a nearly 5.8% CAGR from 2025 to 2035, reaching USD 51.83 billion by 2035.
The growth of the low voltage cable landscape is fueled by technological advancement, urbanization, and the country’s renewable energy initiatives. With a push for smart cities and energy-efficient buildings in the UK, the adoption of smart grids and automation in electrical systems would drive the demand for low-voltage cables as well as telecommunications systems in smart cities.
The UK's robust financial services sector and ongoing construction/infrastructure projects in areas like housing also drive the demand for low-voltage cables. Post-Brexit trade deals and initiatives to ‘greenify’ the energy network will drive demand for energy-efficient cables, notably in wind and solar energy, he added.
FMI opines that the United Kingdom low voltage cable sales will grow at nearly 5.4% CAGR through 2025 to 2035 and is expected to reach USD 11.55 billion by 2035.
Industrial demand and renewable energy projects drive France's low-voltage cable needs. Boasting burgeoning energy transition and smart city initiatives, the country is significantly investing in sustainable infrastructures, including EV charging facilities, solar systems, and electric grids.
France’s key industries, such as aerospace, automotive, and luxury goods, also influence the working of effective power distribution & telecommunication networks. The ramp-up of urban development projects and smart buildings during the construction boom further bolsters the demand.
The increasing shift towards green technologies due to the European Union's Green Deal (EC) and the EC's previous documents ensures that the demand through low-voltage cables will significantly increase in energy-efficient infrastructure.
FMI opines that the France low voltage cable sales will grow at nearly 5.5% CAGR through 2025 to 2035 and is expected to reach USD 13.58 billion by 2035.
The electrical, automotive, and machinery sectors in Germany, represented by major players such as Volkswagen, Siemens, and BMW, are leading drivers of the cable business. Furthermore, the enhanced demand for electrical distribution systems due to the country’s growing focus for energy-efficient solutions, smart grids, and green technologies such as solar power and wind energy continues to augment the cables landscape in Israel.
Urbanization and telecommunications drive ongoing infrastructure projects in Germany, further fueling the demand. The Energiewende policy for the transition to renewable energy also increases the demand for low-voltage cables in power transmission and distribution across Germany.
FMI opines that the Germany low voltage cable sales will grow at nearly 5.6% CAGR through 2025 to 2035 and is expected to reach USD 17.62 billion by 2035.
Italy's industry is heavily dependent on its manufacturing sector, including automotive, fashion, and construction industries. Italy is investing heavily in solar energy, electric vehicle charging stations, and smart grid systems, all of which require low-voltage cables, thanks to its focus on renewable energy.
Urbanization and continual infrastructure projects north and south drive this demand. Low-voltage cables will also find high demand due to the rise of smart buildings and energy-efficient construction.
Cables enabling sustainable energy distribution are also expected to see increased demand thanks to the green technologies shift and EU climate change goals. Nevertheless, long-term growth factors, including the growth in vital sectors, would positively influence the low-voltage cable sector despite the political landscape of Italy.
FMI opines that the Italy low voltage cable sales will grow at nearly 5.2% CAGR through 2025 to 2035 and is expected to reach USD 9.85 billion by 2035.
Demand for low-voltage cables is primarily driven by the country’s robust industrial sectors, such as electronics, automotive, and shipbuilding. While telecommunications, energy transmission, and automated manufacturing systems are dependent on electrical systems and low-voltage cables, companies like Samsung, Hyundai, and LG are much more reliant on them.
Low-voltage cable is important for all smart cities and industrial automation projects in South Korea due to its strong technological foundation and investment in digital infrastructure. In addition, the growing investment from the country in renewable energy and electric vehicles (EVs) will increase the sector for efficient power distribution systems. The low-voltage cable sector in South Korea is also poised to grow driven by demand from high-speed internet and data centers.
FMI opines that the South Korea low voltage cable sales will grow at nearly 5.6% CAGR through 2025 to 2035 and is expected to reach USD 13.27 billion by 2035.
High growth in access to electricity in the country drives demand for low-voltage cables, considering Japan’s developed technology and automotive sector.
Companies like Toyota, Sony, and Panasonic require these cables for their electronics, robotics, and automotive power systems. Furthermore, the development of smart grids, renewable energy initiatives, and electric vehicles in Japan is creating demand for effective power distribution and charge infrastructure.
With its outdated electricity systems, Japan is investing in new technology things like smart homes and telecommunications to update its grids. The segment for energy-efficient low-voltage cables is also buoyed by Japan's push for sustainable energy and carbon reduction targets. The country's development in robotics, automation, and manufacturing keeps driving the demand for strong and high-performance cables across different industries.
FMI opines that the Japan low voltage cable sales will grow at nearly 5.4% CAGR through 2025 to 2035 and is expected to reach USD 25.11 billion by 2035.
China’s industrial growth and infrastructure development are the key sector drivers, with China being the world’s largest manufacturer and exporter. The demand for low-voltage cables increases with industrial growth.
The country’s renewable energy efforts, such as solar and wind power and charging stations for electric vehicles, are all contributing to the demand for cables.
China’s game-changing Belt and road initiative adds more demand for low-voltage cables as it extends infrastructure and energy projects to lower-income economies.
There is also increasing demand for high-quality cables because of the fast-growing telecoms sector, smart city projects, and green technology adoption.
FMI opines that the China low voltage cable sales will grow at nearly 5.3% CAGR through 2025 to 2035 and are expected to reach USD 41.01 billion by 2035.
Australia has a robust economy, which is bolstered by extraction, agriculture, and construction, creating a significant demand for low-voltage cables such as energy distribution, infrastructure projects, and telecommunications.
Similar to New Zealand, Australia's emphasis on renewable energy, smart building technologies, and electric vehicle infrastructure drives demand for low voltage cables. Australia's ongoing infrastructure boom and emphasis on energy-efficient buildings are driving the demand for cables.
The low-voltage cables landscape has huge potential opportunities in both countries, as they are investing heavily in green technologies such as solar power, electric vehicles, smart cities, etc.
Urbanization in these countries is expected to increase over the next decade, which will drive the demand for low-voltage cables, especially in energy and in the telecom sectors.
FMI opines that the Australia and New Zealand low voltage cable sales will grow at nearly 5.7% CAGR through 2025 to 2035 and is expected to reach USD 16.98 billion by 2035.
The key players are adopting price competition, innovation, partnerships, and expansion as their key strategies for growing the low voltage cables sector. Competitive pricing is crucial to industry leaders in an industry where cost-effectiveness is dominant, yet still delivering high-quality merchandise to meet regulatory standards. Businesses can provide different levels of pricing, giving them the ability to reach a variety of different customers, from large industry users to small businesses. Moreover, organizations are concentrating on innovation by enhancing cable performance and life, due to evolving needs from industries like construction, telecommunications, and energy.
The global low-voltage cable segment is expected to witness high growth during the forecast period owing to the increasing demand for partnership in the low-voltage cable sector.
Companies partner with construction firms, electrical contractors, and utility providers to establish a consistent demand for their products. In addition, strategic partnerships with technology providers enable cable manufacturers to develop innovative products contemporary enough to meet the need for next-generation cables for specific applications such as renewable energy or the Internet of Things (IoT). Expanding into emerging sectors is also a key pillar of growth strategies.
Prysmian Group
Nexans S.A.
Sumitomo Electric Industries
NKT A/S
General Cable (part of Prysmian)
Mergers & Acquisitions
Prysmian Group acquired Encore Wire for USD 4 billion in July 2024, expanding its low-voltage cable capacity in North America.
Nexans completed its acquisition of La Triveneta Cavi in June 2024, boosting its medium- and low-voltage cable production in Europe.
Product Launches
Sumitomo Electric launched the Thunderbolt 5 low-voltage cable in January 2025, targeting high-speed data transfer for telecom and consumer applications.
Partnerships
Prysmian secured a USD 1 billion contract for the Marinus Link project in 2024, supplying low-voltage cables for energy interconnections, with delivery starting in 2025.
Regulatory Actions
EU regulations proposed for January 2025 mandate a 20% energy consumption reduction for low-voltage cable systems by 2030, pushing manufacturers to innovate.
The growth of the low-voltage cable industry is closely tied to global trends in industrialization, urbanization, technological advancement, and sustainability, such as industrial development, urbanization, technological evolution, and sustainability initiatives.
With the industrialization and urbanization of economies, electricity infrastructure demand as well as smart buildings and renewable energy solutions are leading to increased demand for more reliable and more efficient low-voltage cables. Moreover, the shift to green energy and EVs represents major growth opportunities since those technologies need specialized low-voltage cable systems to deliver power and charging infrastructure.
From a large-scale, global economic context, growing investments in infrastructure and construction especially in emerging markets drive demand even higher. While geopolitical issues such as trade agreements and supply chain disruptions may have localized impacts, the long-term growth trend is positive, driven by continuous technological advancements in smart grids, automation, and sustainable energy technologies. Government initiatives to upgrade energy infrastructure and reduce carbon emissions further bolster the sector. This initiative is contributing towards steady growth of the low-voltage cable landscape over the period of the next 10 years.
The energy industry is changing, with increased demand for renewable energy and smart grids creating growth potential for low-voltage cable stakeholders. Moving towards cleaner energy sources will require a real upgrade in the electrical infrastructure particularly low-voltage cables designed to withstand the rigorous stresses presented by solar, wind, and other renewable energy systems.
As such, companies that produce these cables for smart grids and solar power generation systems are poised to benefit from this trend. The growing adoption of electric vehicles (EVs) and the increasing demand for EV charging stations create further opportunities for innovation in low-voltage cables.
Stakeholders can pursue the continued focus on strategic partnerships and M&A activities to increase their market share and innovation capabilities. Engaging in partnerships with renewable energy suppliers, electric vehicle manufacturers, and developers of smart cities can provide access to high-growth markets, enabling the co-development of specialized low-voltage cables tailored to the unique needs of these sectors.
Therefore, companies should invest in R&D to develop cables with enhanced performance properties such as increased durability, heat resistance, and flexibility.
Devices that require high voltage or high pressure typically use cables made of copper or aluminum to conduct power. They are used in a wide range of applications, including power distribution, telecommunications, and automation systems in residential, commercial, and industrial settings.
Low voltage cables are intended for systems that operate at lower voltage levels, generally up to 1,000 volts, while high voltage cables are engineered to support higher voltage levels. When it comes to high-voltage cables, they are made with better insulation because of the higher voltages they work with.
The market for low-voltage cables is directly influenced by increasing urbanization, industrialization, construction activities, integration of renewable energy technologies, automation systems, and smart grids across various industries.
Copper or aluminum are used to create the conductor for the cable, while a polymer, rubber, or PVC provides a sheath that protects the conductor from electrical hazards. Depending on the application, other materials, such as halogen-free compounds or fire-retardant coatings, can be utilized.
Low-voltage cables are indispensable in numerous industries, including telecommunications, construction, automotive, energy, and manufacturing. Running from power distribution and building wiring to energy transmission in renewable energy systems, these cables are absolutely necessary.
Overhead and Underground
Residential, Commercial, and Industrial
North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa
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Low Voltage Cable Market
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