DUBLIN--(BUSINESS WIRE)--The "North America Low-voltage Cable Market Outlook, 2028" report has been added to ResearchAndMarkets.com's offering.
North America Low Voltage Cable Market Outlook, 2028 the market was valued at USD 20.96 Billion market size in 2022.
The low voltage cable market in North America is a dynamic and thriving industry that caters to the increasing demand for reliable and efficient electrical infrastructure. The low voltage cable market in North America is a thriving industry that caters to the growing demand for efficient electrical infrastructure.
The growing number of government initiatives in the country to expand electricity production, distribution, and transmission facilities along with a rise in infrastructural development activities are expected to drive the market growth. Due to the rising demand for electricity from many businesses as well as high electricity demands in residences, the United States consumes a high amount of electricity.
With a strong focus on renewable energy, smart cities, and technological advancements, the market is driven by factors such as urbanization, industrialization, and infrastructure development. Key players, including cable manufacturers, distributors, and suppliers, compete intensely to provide a diverse range of low voltage cables for residential, commercial, and industrial applications.
The market is influenced by trends like energy efficiency, sustainability, technological advancements, safety and compliance, and ongoing infrastructure development projects. Continuous innovation and strategic partnerships are essential to navigate the competitive landscape and seize growth opportunities.
The increase in residential properties, growing population and rapid industrialization are causing a rise in the electricity demand. The growing prevalence of equipment and devices that use low voltage electricity in countries such as the United States will likely provide immense opportunities for the North America low voltage general purpose transformer market in the coming years. The US is known for its technological advancements and innovation.
The adoption of smart grid systems, energy-efficient solutions, and digitalization drives the demand for low voltage cables that can support these advanced applications. National Electrical Contractors Association (NECA), Electrical Contractors Association of Ontario (ECAO), Independent Electrical Contractors (IEC), Building Industry Consulting Service International (BICSI) are the association in North America for low voltage.
The low voltage market in North America has experienced significant growth driven by factors such as infrastructure development, energy efficiency focus, technological advancements, industrial expansion, and government initiatives. The demand for low voltage solutions has increased across various sectors, including commercial buildings, manufacturing, healthcare, telecommunications, and renewable energy installations.
Advancements in smart building technologies, IoT integration, and the electrification of transportation have expanded the applications of low voltage systems. Government regulations and initiatives promoting energy efficiency and sustainable practices have further fueled the market growth. However, it's important to note that specific growth figures can vary, and up-to-date data from industry reports and market analysis should be referred to for precise insights.
Recent Developments
- There has been a growing emphasis on energy efficiency and sustainability, leading to increased demand for low voltage solutions that optimize energy usage and reduce power wastage. This trend is driven by stricter energy efficiency regulations and the increasing focus on environmental responsibility.
- The adoption of smart building technologies has gained traction. Integrated low voltage systems are being utilized to enable intelligent lighting, HVAC control, and building automation, enhancing energy efficiency and occupant comfort.
- There has been a significant expansion in electric vehicle (EV) infrastructure across North America. This development has led to increased installations of low voltage cables for EV charging stations, supporting the growing adoption of electric vehicles and the need for reliable charging infrastructure.
- Digitalization and the Internet of Things (IoT) have had an impact on the low voltage sector. The integration of IoT devices and advanced data communication systems requires reliable low voltage cables for transmitting data and supporting interconnected systems.
Competitive Landscape
- Competitive Dashboard
- Business Strategies Adopted by Key Players
- Key Players Market Share Insights and Analysis, 2022
- Key Players Market Positioning Matrix
- Porter's Five Forces
Company Profiles
-
Nexans S.A.
- Company Snapshot
- Company Overview
- Financial Highlights
- Geographic Insights
- Business Segment & Performance
- Product Portfolio
- Key Executives
- Strategic Moves & Developments
- Prysmian S.p.A.
- Furukawa Electric Co., Ltd.
- Fujikura Ltd.
- Te Connectivity
- Sumitomo Electric Industries, Ltd.
- Belden Incorporated
- Havells India Limited
- Leoni AG
- CommScope Holding Company, Inc
- Southwire Company, LLC
- NKT A/S
- Caledonian Cables Ltd
- Hengtong Group
- Elsewedy Electric Co S.A.E.
- LS Cable & System Ltd.
Considered in this report
- Geography: North America
- Historic year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
Aspects covered in this report
- North America Low Voltage Cable market with its value and forecast along with its segments
- Country-wise Low Voltage Cable Market analysis
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
Countries covered in the report:
- United States
- Canada
- Mexico
By Installation Type:
- Overhead
- Underground
- Submarine
By End Users:
- Power Infrastructure (Energy, Power Transmission, and Distribution)
- IT & Telecommunication
- Building & Construction (Commercial and Residential)
- Aerospace & Defense
- Consumer Electronics
- Automotive (Passenger, Commercial, and Utility Vehicles)
- Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)
For more information about this report visit https://www.researchandmarkets.com/r/j7p536
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