Low Voltage Cable Accessories Market

Cable Accessories: Introduction

• Cable accessories are designed for insulating conductors and connecting cables from direct contact with the earth surface. Cable accessories protect cables from erosion and degradation caused by environmental stress, UV light, and other mediums. They also enhance durability of cables. This helps in providing a reliable service for longer operating life in overhead and underground installations. Cable accessories are used in establishing transmission and distribution (T&D) networks for electricity, Internet systems, and telephones.

Key Drivers and Restraints of Global Low Voltage Cable Accessories Market

• Expansion of the transmission & distribution network to meet the rising demand for electricity and rapid urbanization are some of the key factors that are expected to drive the global low voltage cable accessories market during the forecast period. Low voltage cable is a key component for secondary distribution of electricity at voltage range below 1 kV. Furthermore, aging power grid infrastructure and introduction of new power generation power project are anticipated to boost the low voltage cable accessories market. For instance, in 2018, the Government of India announced that the renewable energy sector in the country attracted an investment of more than US$ 42 Bn over the last four years.
• Increase in investment in construction of residential & commercial establishment is anticipated to propel the global low voltage cable accessories market during the forecast period
• Technological innovations and advancements in the design of cable accessories to optimize their operational efficiency are estimated to augment the global low voltage cable accessories market during the forecast period. However, constraints related to funding and delays in authorization and complex planning of projects are likely to hamper the global market during the forecast period.

Underground Installation Segment to Expand Significantly

• The global low voltage cable accessories market can be segmented based on installation, end-user, and region
• In terms of installation, the global low voltage cable accessories market can be classified into overhead and underground. The underground segment is anticipated to expand at a significant pace during the forecast period, as underground cables have smaller voltage drops and low chances of developing faults. Furthermore, their maintenance cost is low.
• In terms of end-user, the global low voltage cable accessories market can be classified into residential, commercial, and industrial. Low voltage cable accessories are extensively used in the residential sector, as the sector has the highest consumer base in terms of consumption of electricity. The industrial segment is anticipated to expand significantly during the forecast period, due to increase in investments in refurbishment of aging infrastructure of electricity grids.

Asia Pacific to Hold Key Share of Global Low Voltage Cable Accessories Market

• Based on region, the global low voltage cable accessories market can be divided into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America
• The low voltage cable accessories market in Asia Pacific is expected to expand at a significant pace during the forecast period, due to surge in demand for electricity in developing countries such as China and India. Rapid urbanization & industrialization and strong economic growth are some of the key factors that are projected to boost the market in the region during the forecast period.
• Europe is expected to hold major share of the global low voltage cable accessories market during the forecast period. The market in the region is driven by introduction of several renewable power generation projects. Technological advancements in low voltage cable accessories to enhance their operational efficiency is also anticipated to drive the market in the region in the near future.
• The low voltage cable accessories market in North America is likely to expand at a stable pace during the forecast period, due to ongoing investments in modernization of grid infrastructure in the region. Furthermore, increase in investment in the infrastructure sector, growth in economy, and migration of the population toward urban areas are likely to propel the market in the near future.
• The low voltage cable accessories market in Middle East & Africa and Latin America is anticipated to expand at a moderate pace during the forecast period

Key Players Operating in Global Market

Leading companies operating in the global low voltage cable accessories market include:

• Elcon Megarad Spa
• ENSTO INDIA PRIVATE LIMITED
• ElsewedyElectric.com
• Ikebana Engineering Ltd. 
• Raychemrpg
• TE Connectivity
• REPL International
• NKT A/S

Global Low Voltage Cable Accessories Market: Research Scope

Global Low Voltage Cable Accessories Market, by Installation

• Overhead
• Underground

Global Low Voltage Cable Accessories Market, by End-user

• Residential
• Commercial
• Industrial

Global Low Voltage Cable Accessories Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa