Wind Farms Renewable Energy Integration Is Driving the Global Low Voltage Power Cable Market, Are Expected To Drive Market Expansion In The Near Future At A CAGR Of 5.4% During The Forecast Period 2025 To 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Low Voltage Power Cable Market” that contains information from 2019 to 2035.

The Global LOW VOLTAGE POWER CABLE Market is estimated to register a CAGR of 5.4% during the forecast period of 2024 to 2035.

MRFR recognizes the following companies as the key players in the Global Low Voltage Power Cable Market— include Prysmian Group, Southwire Company, ELSEWEDY Electric, Sumitomo Electric Industries, Hitachi Energy, Ls Cable & System, Atkore Inc, FINOLEX Cables Ltd, POLYCAB Wires, Far East Cable Co., Ltd, And Among Others.

Market Highlights

The Global Low Voltage Power Cable Market is estimated to register a CAGR of 5.4% during the forecast period and is estimated to reach USD 40.59 Billion by 2035.

Residential construction is one of the most influential drivers of the global low voltage (LV) power cable market, as every housing unit requires structured internal wiring for power distribution, lighting, HVAC systems, and increasingly, digital connectivity. As of 2025, urban population shares stand at 83% in North America, 82% in Latin America, 76% in Europe, 70% in Oceania, and globally at 58%. Meanwhile, Asia and Africa, with urban populations of 53% and 45% respectively, are poised for a wave of urban housing growth due to rising incomes, demographic shifts, and rural-to-urban migration. In India, the Union Budget 2024–25 earmarked INR 10 lakh crore (~USD 120 billion) under PM Awas Yojana – Urban 2.0, specifically targeting affordable housing for urban and semi-urban households. This unprecedented allocation is expected to catalyze new residential developments, especially in Tier 2 and Tier 3 cities. 

China’s residential construction sector is projected to grow 7.4% in 2024, reaching CNY 9.13 trillion (~USD 1.26 trillion), driven by urban regeneration projects and green housing standards. In the U.S., public sector investment in residential construction rose from USD 6.89 billion in 2019 to USD 11.7 billion in 2024, a 69.8% increase that reflects federal and state-led affordable housing programs. Canada’s total residential investment reached USD 102.4 billion in 2024, growing 3.0% year-over-year, with multi-dwelling unit investment increasing 9.3% to USD 54.6 billion, driven by immigration and urban densification policies. In Japan, residential development is supported by favorable interest rates and reconstruction efforts, with the construction sector contributing 5.5% to GDP in 2021. 

These residential developments require vast quantities of LV cables—predominantly rated up to 1000V—for safe and standardized internal wiring in apartments, villas, gated communities, and housing societies. The increasing adoption of smart lighting, surveillance systems, and energy-efficient appliances further expands the use of LV cables within residential structures, reinforcing their indispensable role in the electrical infrastructure of modern homes.

Segment Analysis

The Global Low Voltage Power Cable Market has been segmented based on By Type, By Voltage, By Application.

Based on type, the Global Low Voltage Power Cable Market is Segmented into Submersible Cables   , Welding Cables , Harmonised Cables , Rubber Flexible Cables , Solar Cables, Others. The Rubber Flexible Cables segment dominated the global market in 2024, while the Solar Cables is projected to be the fastest–growing segment during the forecast period.

Rubber flexible cables are known for their high flexibility and durability, making them ideal for applications that require frequent movement, bending, or repositioning. The conductors in these cables are made of finely stranded copper to provide excellent conductivity and mechanical flexibility. The insulation and sheath layers are made from natural rubber, synthetic rubber (such as neoprene or ethylene propylene rubber), or other elastomeric compounds that offer exceptional resistance to abrasion, oil, chemicals, water, heat, and UV exposure. These properties make rubber flexible cables well suited for use in portable tools, industrial machinery, mining operations, stage lighting, cranes, and temporary power distribution systems. Their design ensures longevity under repeated flexing and rough handling, reducing downtime and maintenance costs. Additionally, rubber flexible cables often comply with stringent standards like IEC 60245 and UL specifications, ensuring their safety and reliability in both indoor and outdoor applications. Their superior elasticity and toughness make them a preferred choice where cable durability and flexibility are critical.

Based on voltage, the global Low Voltage Power Cable Market have been segmented into Upto 240 V , >240V-440V  , >440V-1000V. The Upto 240 V segment dominated the global market in 2024, while the >440V-1000V is projected to be the fastest–growing segment during the forecast period.

Low voltage cables rated up to 240V are widely used in residential and light commercial applications, where energy consumption is moderate, and electrical loads are less demanding. These cables typically power household appliances, lighting systems, outlets, consumer electronics, and small motors. The most common types in this category include twin and earth cables, flexible cords, and harmonised wires. They are designed for indoor use, often concealed within walls or conduits, and must conform to safety standards such as IEC 60227 (PVC insulated cables) or UL 62 in the United States. The insulation material is usually PVC or thermoplastic elastomer, providing flame retardancy and resistance to moderate heat, moisture, and mechanical wear. The conductor is generally copper, valued for its excellent conductivity and ease of termination. Cable sizing in this voltage range is typically small (1.0 mm² to 6.0 mm²), making them easy to install and route in confined spaces. As global residential infrastructure expands, particularly in urbanizing regions like South Asia, Africa, and Latin America, the demand for 240V-rated cables is growing. Additionally, energy efficiency regulations and green building codes are pushing manufacturers to produce low-smoke zero-halogen (LSZH) variants for enhanced fire safety in enclosed environments. Smart homes and IoT-enabled devices further boost the use of 240V cables for data and low-power control applications.

Based on By Application, the global Low Voltage Power Cable Market has been segmented into Agriculture, Industrial Machinery, Building & Construction, Energy & Power, Others. The Building & Construction segment dominated the global market in 2024, while the Energy & Power is projected to be the fastest–growing segment during the forecast period.

The building and construction sector is the largest consumer of low voltage power cables globally. These cables are integral to residential, commercial, and institutional structures, powering everything from lighting, HVAC systems, elevators, security systems, and data centers to internal wiring and fire alarms. The key requirements in this application include fire resistance, smoke suppression, ease of installation, and long service life. Cables typically used include twin & earth cables, harmonised wires, armored power cables, and fire-rated LSZH (Low Smoke Zero Halogen) cables. Construction sites also rely on temporary power distribution, for which rubber flexible cables and heavy-duty extension cords are deployed. Regional regulations such as NEC (USA), IEC 60332 (EU), or IS 694 (India) mandate strict fire performance and environmental safety criteria. The surge in green buildings, smart homes, and digital infrastructure is driving demand for hybrid power-data cables and intelligent cabling systems. Urbanization in Asia-Pacific, the Middle East, and parts of Africa is fueling construction booms, while energy-efficiency upgrades in developed countries are prompting retrofits and cable replacements. This sector’s massive scale and evolving needs—ranging from basic low-voltage supply to advanced automation—make it a primary driver of market growth.

Regional Analysis

Based on Region, the Global Low Voltage Power Cable is segmented into North America, Europe, Asia-Pacific, South America, Middle East & Africa. The Asia Pacific dominated the global market in 2024, while the Asia-Pacific is projected to be the fastest–growing Region during the forecast period.

The Asia Pacific region dominates the global low voltage power cable market, driven by rapid urbanization, massive industrial expansion, electrification of rural areas, and robust investments in infrastructure and renewable energy. Major economies like China, India, Japan, South Korea, and Southeast Asian nations (Indonesia, Vietnam, Thailand, Malaysia) are at the forefront of this growth. In particular, China and India are witnessing a surge in demand for low voltage (LV) cables due to aggressive development in housing, manufacturing, transportation, and digital infrastructure. These countries are implementing massive smart city initiatives, metro rail projects, and renewable energy rollouts, all of which require extensive deployment of LV cables for lighting, HVAC, control systems, and power distribution.

In China, government-backed initiatives such as “Made in China 2025” and the expansion of EV infrastructure have propelled demand for solar cables, instrumentation cables, and heat-resistant cables in both industrial and commercial spaces. Additionally, China’s Belt and Road Initiative has catalyzed power infrastructure projects in Asia and Africa, increasing exports of domestically manufactured LV cables. Meanwhile, India’s “Power for All” and “Smart Cities Mission” programs have driven extensive electrification of rural and urban areas, boosting consumption of rubber flexible, harmonised, and weatherproof low-voltage cables for homes, industries, and small businesses.

Japan and South Korea emphasize technological precision and high-quality standards, leading to increased usage of flame-retardant, low-smoke zero-halogen (LSZH) cables in commercial buildings, data centers, and advanced factories. These nations also have strong demand for heat- and oil-resistant cables in automotive, robotics, and semiconductor manufacturing. In Southeast Asia, industrialization, along with power grid modernization efforts and increasing FDI in electronics and garment manufacturing, is expanding demand for cost-effective yet durable LV cables across sectors. The region also sees significant growth in submersible and welding cables due to infrastructure works and water resource management projects.

Key Findings of the Study

• The Global Low Voltage Power Cable Market is expected to reach USD 40.59 Billion by 2035, at a CAGR of 5.4% during the forecast period.


• The Asia Pacific region accounted for the fastest growth in the global market.


• Based on By Application, the Building & Construction segment was attributed to holding the largest market in 2024.


• Prysmian Group, Southwire Company, ELSEWEDY Electric, Sumitomo Electric Industries, Hitachi Energy, Ls Cable & System, Atkore Inc, FINOLEX Cables Ltd, POLYCAB Wires, Far East Cable Co., Ltd, And Among Others are the key market players.