Latin America Low Voltage Cables Market Size, Share & Trends Analysis Report By Type (Overhead, Underground), By End-use (Residential, Industrial, Commercial), By Country, And Segment Forecasts, 2024 - 2030

Latin America Low Voltage Cables Market Size, Share & Trends Analysis Report By Type (Overhead, Underground), By End-use (Residential, Industrial, Commercial), By Country, And Segment Forecasts, 2024 - 2030

Latin America Low Voltage Cables Market Growth & Trends

The Latin America low voltage cables market size is expected to reach USD 13.25 billion by 2030, registering to grow at a CAGR of 4.0% from 2024 to 2030 according to a new report by Grand View Research, Inc. Latin America has undergone a high degree of industrialization over the last decade with several multinational companies making their presence in this region. These companies need high operating power, which has consequently increased the demand for power cables used in distribution networks. These products are required in high quantity for machine installation and power transmission and distribution.

Low voltage power cables have expanded into several application sectors including conventional electrical power supply as well as gadget assembly. Sophisticated gadgets have penetrated into the Latin American as well as the Central American markets owing to the rising disposable income of people and a general increase in awareness about the latest technology introduced in the market.

With the advent of industrialization, robots have been installed to increase production as well as perform dangerous tasks deemed unsafe for humans in a safe manner. These robots also perform dull, monotonous tasks efficiently, thereby boosting production to a large extent. These products are used in industrial robots, thereby boosting low voltage power cables market demand.

Latin America Low Voltage Cables Market Report Highlights

• The overhead segment accounted for the largest market revenue share of 63.8% in 2023 due to the rapid urbanization and industrialization in developing countries. Overhead low voltage cables are preferred for long-distance power transmission due to their cost-effectiveness and ease of installation compared to underground cables.
• The residential segment accounted for the largest market revenue share of 56.5% in 2023. The increasing urbanization and rising disposable incomes are leading to a surge in residential construction and renovation activities.
• Latin America low voltage cables market is anticipated to witness significant growth. The region is witnessing significant investments in infrastructure development, including power grid upgrades and expansions, which drive demand for low voltage cables.

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