By 2022 the global low-voltage power cable market will reach $ 163.5 billion

2017-10-11

International market research firm Zion released research report said that 2017-2022, the global low-voltage electrial power cable market compound annual growth rate will reach 6.3%, is expected to 2022 may reach 163.5 billion US dollars. Data show that in 2016, the global low-voltage power cable market income of 110.8 billion US dollars.
Low-voltage electrial power cable market demand factors include increased demand for power transmission and distribution infrastructure, power generation continues to grow. Low-voltage cables and accessories are important components of transmission and distribution systems, generally used for 50-1000V AC voltage and 75-1500V DC voltage equipment applications. By 2022, the increase in renewable energy power, the acceleration of urbanization and industrialization, and the popularity of smart grids will further boost demand for global low-voltage power cables. However, the lack of financing, project approval delays, fluctuations in raw material prices, etc. will also be low-voltage power cable market development of the main constraints. At the same time, low-cost competition, shoddy and other market chaos will also affect the orderly development of global low-voltage cable.
From the type of installation to the sub-low-voltage cable is divided into overhead and underground installation. Among them, lower than the low cost of installation and maintenance and high global demand, overhead low-voltage cable will dominate the entire market. However, because the underground cable installation is not susceptible to the impact of the environment and climate, the loss is relatively low, the development of underground cable more and more widely, especially in PVC and XLPE insulation for the low-voltage cable.
From the market point of view, low-voltage power cables are widely used in infrastructure, public power, oil and gas, industrial, renewable energy and so on. Where renewable energy is expected to be the largest low-voltage cable application market. To 2022 on the awareness of energy-saving emission reduction and policy support, renewable energy development will become a big trend. Also in developing countries, construction activities have increased the demand for infrastructure to drive low-voltage cables. In developed countries, the upgrading of power grid infrastructure to promote investment, thereby further stimulating the growth of low-voltage cable demand.
From the region, the Asia-Pacific region is the world's largest low-voltage electrial power cable demand market, is expected to 2022 will maintain this market position, accounting for the proportion of the global total is expected to more than 35%. In addition, the European region in the next few years will also usher in a considerable demand for low-voltage cable growth. According to the plan, Europe will achieve renewable energy power accounted for 27%, greenhouse gas emissions by 40%. To achieve this goal, Europe needs to vigorously develop low-carbon energy, thus stimulating the market demand for low-voltage cable increased.