Asia-Pacific Low-voltage Cable Market Outlook, 2028

Asia-Pacific Low-voltage Cable Market Outlook, 2028

The Asia-Pacific region has witnessed significant growth and development in the low voltage cable market, driven by the expanding industrialization, urbanization, and infrastructure projects across countries in the region. Low voltage cables, which operate at voltage levels below 1kV, play a critical role in various sectors, including power distribution, telecommunications, building infrastructure, and manufacturing. The region's rapid economic growth, rising population, and increasing energy demand have necessitated the development of robust electrical infrastructure, driving the demand for low voltage cables. Countries such as China, India, Japan, South Korea, and Southeast Asian nations have emerged as major contributors to the market's growth. The Asia-Pacific region benefits from a vast manufacturing base, with numerous local and international companies involved in the production of low voltage cables. These manufacturers offer a wide range of cable types, including copper and aluminum conductors, PVC and XLPE insulation, and various shielding options, to cater to diverse application requirements. The Asia-Pacific region is the largest and fastest-growing market for low voltage cables. It is witnessing significant growth due to rapid urbanization, infrastructure development, and the rising renewable energy sector. Technological advancements in countries like Japan, South Korea, and China contribute to the region's leadership in the industry. The demand for low voltage cables is driven by the need for reliable power distribution and connectivity in residential and commercial buildings, as well as in infrastructure projects such as transportation networks and power plants. The region's competitiveness fosters innovation and a wide range of options for consumers in the low voltage cable market.

According to the research report, “Asia-Pacific Low Voltage Cable Market Outlook, 2028” published by Bonafide Research, the market is expected to grow with 7.55% CAGR by 2023-28.Asia Pacific Cables & Telecommunication Association (APCTA), Asia Pacific Structured Cabling Association (APSCA), Electrical and Electronics Association of Malaysia (TEEAM), Indian Electrical and Electronics Manufacturers' Association (IEEMA), China Electrical Equipment Industry Association are major associations in the Asia-Pacific region for the low voltage industry. Prysmian Group, Nexans, LS Cable & System, Fujikura Ltd., General Cable Corporation, LS VINA Cable & System. The consumption of low voltage cables in the Asia-Pacific region is significant due to various factors such as rapid industrialization, urbanization, infrastructure development, and increasing energy demand. The region's booming construction sector, expansion of power distribution networks, and growing telecommunications infrastructure contribute to the high consumption of low voltage cables.

With the Asia-Pacific region being home to several populous countries, including China and India, the demand for low voltage cables for residential, commercial, and industrial applications is substantial. The need for reliable power distribution, telecommunications connectivity, and infrastructure development projects further drives the consumption of low voltage cables in the region. The rise of renewable energy installations, such as solar and wind power, and the increasing adoption of smart grid technologies also contribute to the consumption of low voltage cables in the Asia-Pacific region. In the Asia-Pacific region, China is a significant country for the low voltage market. China's rapid economic growth, extensive infrastructure development, and large population contribute to its substantial demand for low voltage cables. The country's booming construction sector, urbanization, and industrialization drive the need for reliable power distribution and connectivity, which in turn increases the consumption of low voltage cables. India is another significant market in the Asia-Pacific region for low voltage cables. The country's growing population, increasing urbanization, and infrastructure development projects create a robust demand for low voltage cables in residential, commercial, and industrial sectors.

The growth of the low voltage market in the Asia-Pacific region has been remarkable in recent years, driven by various factors. Rapid urbanization is one of the key drivers, as the region experiences significant population growth and the expansion of cities. This leads to a higher demand for low voltage cables in residential and commercial buildings to meet the increased energy needs. Infrastructure development is another major contributor to the growth of the low voltage market in the Asia-Pacific region. Governments across the region are investing heavily in the construction of transportation networks, power plants, and communication infrastructure. These projects require extensive installations of low voltage cables for power distribution, lighting, signaling, and communication systems. The region's industrialization and manufacturing sector also play a significant role in the growth of the low voltage market. As industries expand and modernize, there is an increasing need for low voltage cables to power machinery, control systems, and automation processes. This includes sectors such as automotive, electronics, and manufacturing. , copper remains the dominant material for low voltage cables in the Asia-Pacific region, owing to its excellent electrical properties, reliability, and compatibility with local standards. However, there is a growing interest in alternative materials such as aluminum and fiber optics, driven by cost considerations and the need for high-speed data transmission capabilities in specific applications.

The COVID-19 pandemic had a significant impact on the low voltage sector in the Asia-Pacific region. It caused disruptions in the supply chain, resulting in delays and shortages of raw materials and components. Construction projects were delayed or canceled due to lockdowns and travel restrictions, leading to a decrease in demand for low voltage systems. The economic slowdown and financial constraints further impacted the industry. However, there were opportunities in supporting remote work and digital connectivity. Companies adapted by embracing digital technologies, and governments introduced stimulus packages to revive the industry. The extent of the impact varied across countries, depending on the severity of the pandemic and economic resilience.

In the Asia-Pacific region, the most commonly used installation type for low voltage cables is overhead installation. Overhead installation involves suspending the cables on utility poles or other support structures. This method is often preferred in rural and remote areas where it is more cost-effective and easier to install and maintain overhead lines. While underground installation is also prevalent in urban areas and certain specific projects, such as high-density residential or commercial developments, the overall usage of underground low voltage cables is relatively lower compared to overhead installation in the Asia-Pacific region. Low voltage systems are widely used by various end users in the Asia-Pacific region. In the residential sector, low voltage systems are essential for powering lighting, appliances, and other household electrical devices. In the commercial and office buildings, low voltage systems provide electrical power for lighting, HVAC systems, security systems, and other office equipment. Industries in the region heavily rely on low voltage systems for power distribution, control systems, and automation processes. Infrastructure projects, including transportation networks, airports, hospitals, and educational institutions, also utilize low voltage systems for electrical distribution and powering various systems.

Considered in this report
• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Asia Pacific 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:
• China
• Japan
• India
• Australia
• South Korea

By Installation Type:
• Overhead
• Underground
• Submarine

By End Users:
• Power Infrastructure (Energy, Power Transmission, and Distribution)
• IT & Telecommunication
• Building & Construction (Commercial and Residential)
• Aerospace & Defence
• Consumer Electronics
• Automotive (Passenger, Commercial, and Utility Vehicles)
• Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Artificial Lawn industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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