Low Voltage Power Cable Market

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.

The Global Low Voltage Power Cable Market Industry is projected to grow significantly over the coming years. With a market value of 48.9 USD Billion in 2024, it is anticipated to expand to 88.2 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 5.51% from 2025 to 2035, indicating a robust demand for low voltage power cables across various sectors. Factors such as increasing urbanization, technological advancements, and regulatory support are likely to contribute to this upward trend, positioning the industry for sustained growth in the global market.

The Global Low Voltage Power Cable Market Industry is experiencing a surge in demand driven by the increasing adoption of renewable energy sources. As countries strive to meet their energy transition goals, the integration of solar and wind energy systems necessitates reliable low voltage power cables for efficient energy distribution. For instance, the expansion of solar farms and wind parks requires robust cabling solutions to connect these energy sources to the grid. This trend is expected to contribute significantly to the market, with projections indicating a market value of 48.9 USD Billion in 2024 and a potential growth to 88.2 USD Billion by 2035.

Rapid urbanization and ongoing infrastructure development globally are pivotal drivers of the Global Low Voltage Power Cable Market Industry. As urban areas expand, the demand for electricity increases, necessitating the installation of low voltage power cables in residential, commercial, and industrial sectors. Governments are investing heavily in infrastructure projects, including smart cities and transportation systems, which require advanced electrical solutions. This trend is likely to sustain the market's growth, with a projected compound annual growth rate of 5.51% from 2025 to 2035, reflecting the essential role of low voltage power cables in modern urban infrastructure.

The Global Low Voltage Power Cable Market Industry is witnessing growth due to the increasing electrification efforts in developing regions. Many countries are investing in expanding their electrical infrastructure to provide reliable power supply to underserved areas. This trend is particularly evident in regions such as Africa and Southeast Asia, where governments are prioritizing electrification projects. The demand for low voltage power cables is expected to rise as these initiatives progress, with projections indicating a market growth trajectory that could see the industry reach 88.2 USD Billion by 2035, reflecting the essential role of electricity in economic development.

Technological advancements in cable manufacturing are significantly influencing the Global Low Voltage Power Cable Market Industry. Innovations such as improved insulation materials and enhanced production techniques are leading to the development of more efficient and durable cables. These advancements not only enhance performance but also reduce costs, making low voltage power cables more accessible for various applications. As manufacturers adopt these technologies, the market is poised for growth, with the potential to reach a valuation of 88.2 USD Billion by 2035, driven by the increasing need for reliable electrical solutions in diverse sectors.

Regulatory support for electrical safety standards is a crucial driver for the Global Low Voltage Power Cable Market Industry. Governments worldwide are implementing stringent regulations to ensure the safety and reliability of electrical installations. Compliance with these standards necessitates the use of high-quality low voltage power cables, which in turn drives market demand. For example, the adoption of international standards such as IEC 60502 is promoting the use of certified cables in various applications. This regulatory environment is expected to bolster market growth, contributing to the anticipated market value of 48.9 USD Billion in 2024.