Global Low Voltage Power Cable Market Overview
Low Voltage Power Cable Market Size Was Valued at USD 48.91 Billion In 2024. The Global Low Voltage Power Cable Industry Is Projected to Grow from USD 52.11 Billion In 2025 To USD 88.21 Billion By 2035, Exhibiting A Compound Annual Growth Rate (CAGR) Of 5.4% During the Forecast Period (2025 - 2035).
Increasing Demand for Renewable Energy Sources, Solar PV And Wind Farms Renewable Energy Integration Is Driving the Low Voltage Power Cable Market.
As per Analyst at MRFR,” Rising global residential construction is a powerful macroeconomic driver accelerating the demand for low voltage (LV) cables. Each residential unit—whether an apartment, villa, or housing society—relies heavily on structured cabling for internal power distribution, lighting, heating, ventilation, and increasingly, for integrated digital systems. As urbanization accelerates, particularly in Asia and Africa, residential infrastructure is rapidly expanding to meet population shifts and housing deficits”
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Low Voltage Power Cable Market Trends
Growing Smart Cities and Building Automation
Smart cities require an extensive low-voltage cabling backbone to support public lighting, EV charging, surveillance systems, and sensor networks. Over 1,000 smart city projects are underway globally, with China alone investing over $30 billion in its smart city framework. India has allocated funding of over ₹286 billion (US$3.4 billion) to its Smart Cities Mission, covering 100 cities with projects like smart grids, intelligent traffic systems, and digital governance platforms. These projects generate enormous demand for low-voltage cables (up to 1000V) to power systems like LED streetlights, traffic signals, public Wi-Fi, and environmental monitoring stations.
For example, a single smart pole typically houses 5–6 devices (e.g., CCTV, sensors, lighting) requiring low-voltage distribution. Additionally, the number of electric vehicle charging stations worldwide has exceeded 3.5 million, each needing integrated LV cabling for both power and communication. The increasing electrification of urban transport and digital services makes LV cabling a critical component of urban infrastructure.
Low-voltage cables are vital in smart grid systems, connecting energy meters, transformers, and control systems with communication hubs. As of 2023, over 1 billion smart electricity meters are installed globally, and each is connected via a web of low-voltage signal and power cables. In Europe alone, utilities like Emadis in France and E.ON in Germany have deployed millions of meters that rely on LV communication cabling. Moreover, fiber optic deployment for city-wide broadband surpassed 550 million fiber-kilometers globally in 2023, much of it involving LV installation practices.
In Spain’s Barcelona, and South Korea’s Songdo, kilometers of shielded LV copper and fiber cables have been laid to enable real-time surveillance, adaptive traffic control, and smart waste management. The rise of urban edge data centers to support cloud and 5G applications—especially in cities like Singapore, London, and Tokyo—is creating additional demand for structured LV cabling. These centers often dedicate 15–20% of capital costs to power and data cable infrastructure, underscoring their importance.
Low Voltage Power Cable Market Segment Insights
Global Low Voltage Power Cable By Type Insights
Based on type, the 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.
Global Low Voltage Power Cable By voltage Insights
Based on voltage, the 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.
Figure 1: Low Voltage Power Cable Market, By voltage, 2024 & 2035 (USD Billion)
Global Low Voltage Power Cable By Application Insights
Based on Application, the 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.
Global Low Voltage Power Cable Regional Insights
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 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.
Figure 2: Low Voltage Power Cable Market, By Region, 2024 & 2035 (USD Billion)
Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, , Germany, U.K., France, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, Indonesia, South Korea, Rest of Asia Pacific , GCC , South Africa, Rest of Middle East & Africa , Brazil , Chile, Rest of South America .
Global Low Voltage Power Cable Key Market Players & Competitive Insight
Many global, regional, and local vendors characterize the Low Voltage Power Cable Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.
The major players in the 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. The Low Voltage Power Cable Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.
Key Companies in the 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
Low Voltage Power Cable Market Segmentation
Low Voltage Power Cable Market By Type Outlook (USD BILLION, 2019-2035)
- Submersible Cables
- Welding Cables
- Harmonised Cables
- Rubber Flexible Cables
- Solar Cables
- Others
Low Voltage Power Cable Market By Voltage Outlook (USD BILLION, 2019-2035)
- Upto 240 V
- >240V-440V
- >440V-1000V
Low Voltage Power Cable Market By Application Type Outlook (USD BILLION, 2019-2035)
- Agriculture
- Industrial Machinery
- Building & Construction
- Energy & Power
- Others
Global Low Voltage Power Cable Regional Outlook
- North America
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Thailand
- Rest of APAC
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East
- GCC Countries
- South Africa
- Rest of MEA
| Report Attribute/Metric |
Details |
| Market Size 2024 |
USD 48.91 BILLION |
| Market Size 2025 |
USD 52.11 BILLION |
| Market Size 2035 |
USD 88.21 BILLION |
| Compound Annual Growth Rate (CAGR) |
5.4% (2025-2035) |
| Base Year |
2024 |
| Market Forecast Period |
2025-2035 |
| Historical Data |
2019- 2023 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
By Type, By Voltage, By Application |
| Geographies Covered |
North America, Europe, Asia-Pacific, South America, Middle East & Africa. |
| Countries Covered |
the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, Indonesia, South Korea, Rest of Asia Pacific, GCC, South Africa, Rest of Middle East & Africa, Brazil, Chile, Rest of South America. |
| Key Companies Profiled |
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 |
| Key Market Opportunities |
·        Growing Smart Cities And Building Automation ·        Expansion Of Smart Grid Infrastructure |
| Key Market Dynamics |
·        Increasing Demand For Renewable Energy Sources ·        Solar PV And Wind Farms Renewable Energy Integration |
Frequently Asked Questions (FAQ) :
The Low Voltage Power Cable Market size is expected to be valued at USD 88.21 Billion in 2035.
The global market is projected to grow at a CAGR of 5.4% during the forecast period, 2025-2035.
Asia Pacific had the largest share of the global market.
The key players in the market are Astec Industries 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.
Rubber Flexible Cables Systems Low Voltage Power Cable dominated the market in 2024.
Building & Construction Segment had the largest revenue share of the global market.
