In 2020, the demand for low-voltage cables may exceed 150 billion US dollars

In 2020, the demand for low-voltage cables may exceed 150 billion US dollars
.
Recently, Technavio released a global low-voltage cable market research report (2016-2020) so said
.

Technavio believes that "the main reason contributing to the growing demand for low-voltage cables is the accelerated
deployment of smart grid transmission and distribution networks.
At the same time, new areas of electrical appliances, including heat pumps, electric vehicle charging stations, and interconnection between solar panels in distributed grids, are also factors
contributing to the growth of demand for low-voltage cables.
In addition, smart grid systems integrate automation software and electronic hardware, such as meters, switches, protection relays, etc.
, and also require low-voltage cables to be connected
.
”

The report also pointed out that the rapid growth of smart grid investment in the Asia-Pacific region, EMEA, and the Gulf region will be the main driver for the growth of global demand for low-voltage cables due to the increasing demand for electricity
.

In addition, the development of power distribution infrastructure, the integration of renewable energy into the grid, and the increasing demand from the automotive and non-motor vehicle industries will also contribute to the industry demand growth
.

Distribution infrastructure development

The power distribution system is a necessary prerequisite
for providing power to individual consumers.
Compared with power generation output, power distribution is usually transmitted at a low-voltage level, including substations, main feeders, distribution transformers and other equipment, which require low-voltage cables to connect
.

Globally, demand in the three major areas of power generation, transmission and distribution is increasing
due to the rapid growth of global electricity demand.
Therefore, the demand for low-voltage cables in the field of transmission and distribution will maintain a steady growth trend in the next five years
.
From the perspective of end users, according to 2015 data, the demand for low-voltage cables in the public sector accounted for 79.
08%
of the global total.
The utility sector is expected to remain the largest demander of low-voltage cables by 2020, followed by industrial and commercial
.

Renewable energy is connected to the grid for power generation

Technavio believes that the increase in demand for low-voltage cables for renewable energy grid-connected power generation is mainly in the installation of power generation systems, such as solar power generation systems, low-voltage cables can realize the connection of panels and combiner boxes, combiner boxes to inverters, inverters and transformers
.
On the other hand, the connection between transformers and substations usually uses medium-voltage cables, while high-voltage cables and ultra-high-voltage cables are used to connect substations and
grids.
In wind power systems, low- and medium-voltage cable deployments
are selected depending on the type of wind turbine (low or medium voltage).
Therefore, the increase in renewable energy facilities such as solar and wind power will drive the demand
for low-voltage cables.

Demand growth in the automotive and non-motorized sectors

In the automotive industry, low-voltage cables are often used for wiring installations in automotive electrical systems, such as battery wires inside a car that are often a low-voltage connection solution
.
Low-voltage cables are often used in passenger cars, small, medium and heavy trucks, agricultural equipment, construction equipment, and other off-road vehicles
.
Statistics show that in the second quarter of 2014, global automobile production reached 45.
38 million units, and by the second quarter of 2015 reached 45.
6 million units, this growth is mainly due to the increase in population and disposable income, which also actively promotes the demand for electrical components such as low-voltage cables in the automotive industry
.