The low voltage cables market in the Asia-Pacific region is projected to grow at a compound annual growth rate (CAGR) of 6%+ from 2023 to 2032 [f4df5ac6]. The market size was valued at $158.9 billion in 2022 and is estimated to reach $278.7 billion by 2032. Low voltage cables are used in various applications to deliver power, control signals, and data transmission within residential, commercial, and industrial settings. Key players in the industry include Prysmian S.p.A., Nexans S.A., Sumitomo Electric Industries, Ltd., and more [f4df5ac6].
The low voltage cables market encompasses a wide range of cables used in construction, utilities, manufacturing, telecommunications, and automotive industries. Different types of low voltage cables include power cables, control cables, Ethernet cables, instrumentation cables, thermocouple cables, security and alarm cables, automotive cables, and solar PV cables. The underground segment and the renewable energy segment are the highest revenue contributors to the market. The combination of fiber optic and copper low voltage cables is used for backhaul connections in wireless communication networks [f4df5ac6].
The market is expected to witness significant growth in the Asia-Pacific region, particularly in countries like the Philippines, Japan, South Korea, and Singapore [f4df5ac6].