Low Voltage Cable & Accessories Market is Projected to Reach USD 147.3 Billion by 2020

Date: 2015-09-20

“Low voltage cable & accessories market is estimated at USD 105.2 billion in 2015, and is projected to reach USD 147.3 billion by 2020. The market has been segmented into major regions, and then further split to country-level forecasting.

This study has profiled leading players of the industry, along with their recent developments and other strategic activities. Some of the key companies profiled include Prysmian S.P.A (Italy), Nexans S.A. (France), General Cable Corporation (U.S.), Sumitomo Electric Industries (Japan), NKT Cables Group GmbH (Germany), ABB Ltd. (Switzerland), Encore Wire Corporation (U.S.), Finolex Cables Limited (India), and  Polycab Wires Pvt. Ltd. (India).

Asia-Pacific held the largest market share in the low voltage cables & accessories market in 2014, and is projected to grow at the highest CAGR due to the high urbanization and industrialization in countries such as China, India, and Japan which is increasing the spending for power infrastructure. China and India are two of the fastest-growing economies contributing towards the growth of low voltage cables & accessories market.

Upgrade of existing transmission & distribution network and implementation of smart grid in Europe and North America are driving the growth of the low voltage cables & accessories market in the respective geographies. In Europe, Germany and the U.K. contributed major market share in 2014, while the U.S. largely dominated the North American market in the same year. Market in Latin America and the Middle East & Africa regions are expected to grow at higher growth rates due to their current expansion transmission & distribution projects to meet the growing demand of power in these regions.

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