The global wires and cables market size is expected to reach USD 281.64 billion in 2030 and is projected to grow at a CAGR of 4.1% from 2024 to 2030. Wires and cables are one of the essential components of infrastructure development across the world. The growing emphasis on investments and government initiatives to generate power from renewable sources has enforced the adoption of wires and cables across the globe. Increasing funds in the upgradation of infrastructure and the demand for refined power transmission and distribution systems are the key factors driving the market in the forecast period.
Infrastructure development, modernization, and upgradation of infrastructure such as railways, tunnels, tunnel-lighting and signaling; commercial, residential, and industrial buildings; and implementation of smart grid technology is expected to drive the global market. Sectors such as defense, aerospace, and telecom are moving towards new infrastructure and construction, which increases the demand for cables and wires across the globe. Technological upgrades require various services, such as internet access and communication. Expansions and upgrades will directly increase the demand for cables such as communication cables, instrumentation cables, Ethernet cables, and others.
The government initiatives in rural electrification also play a vital role in the growth of the overall market. Rural electrification entails actions, including setting electricity infrastructure, improved communication, and providing connectivity to households. Rural electrification is anticipated to drive the demand for wires and cables in the coming years.
For instance, according to the Ministry of Power- Government of India, 26.3 million homes below the poverty line have been electrified under the Rural Electrification section of Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY). Smart grids diminish the general cost incurred in traditional systems, including the operational cost encountered due to loss of power. It also lowers the pressure on energy prices and total customer bills. The Indian government, under the ""Make in India"" campaign, had targeted the installation of 130 million smart meters in 2021 under Smart City Initiatives. The installation was done at the consumer base, where the monthly consumption is above 200 units by 2019. There are various steps taken by the government in other countries, such as the U.S., to encourage the smart grid's implementation.
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Infrastructure development, modernization, and upgradation of infrastructure such as railways, tunnels, tunnel-lighting and signaling; commercial, residential, and industrial buildings; and implementation of smart grid technology is expected to drive the global market. Sectors such as defense, aerospace, and telecom are moving towards new infrastructure and construction, which increases the demand for cables and wires across the globe. Technological upgrades require various services, such as internet access and communication. Expansions and upgrades will directly increase the demand for cables such as communication cables, instrumentation cables, Ethernet cables, and others.
The government initiatives in rural electrification also play a vital role in the growth of the overall market. Rural electrification entails actions, including setting electricity infrastructure, improved communication, and providing connectivity to households. Rural electrification is anticipated to drive the demand for wires and cables in the coming years.
For instance, according to the Ministry of Power- Government of India, 26.3 million homes below the poverty line have been electrified under the Rural Electrification section of Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY). Smart grids diminish the general cost incurred in traditional systems, including the operational cost encountered due to loss of power. It also lowers the pressure on energy prices and total customer bills. The Indian government, under the ""Make in India"" campaign, had targeted the installation of 130 million smart meters in 2021 under Smart City Initiatives. The installation was done at the consumer base, where the monthly consumption is above 200 units by 2019. There are various steps taken by the government in other countries, such as the U.S., to encourage the smart grid's implementation.
Wires And Cables Market Report Highlights
- The extra-high voltage segment emerged as the fastest-growing segment over the forecast period.
- The overhead installation segment accounted for the largest revenue during the forecast period. Overhead installation technique is the most widely used approach across the world.
- The Asia Pacific region dominates the global wires and cables market, largely due to rapid industrialization, urbanization, and infrastructure development in countries such as China and India
The leading players in the Wires and Cables market include:
- Belden Inc.
- Encore Wire Corporation
- Finolex Cables.
- Fujikura Ltd.
- Furukawa Electric Co., Ltd.
- KEI Industries Limited.
- LEONI AG
- LS Cable & System Ltd.
- Nexans
- NKT A/S
- Prysmian S.p.A
- Sumitomo Corporation
- Southwire Company, LLC
- Amphenol TPC.
- American Wire Group
- CommScope, Inc.
- CommScope, Inc.
- Shanghai Shenghua Cable (Group) Co., Ltd.
- TE Connectivity
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Wires and Cables Market Variables, Trends, & Scope
Chapter 4. Wires and Cables Market: Voltage Estimates & Trend Analysis
Chapter 5. Wires and Cables Market: Installation Size Estimates & Trend Analysis
Chapter 6. Wires and Cables Market: End use Estimates & Trend Analysis
Chapter 7. Wires and Cables Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
The leading players in the Wires and Cables market include:- Belden Inc.
- Encore Wire Corporation
- Finolex Cables.
- Fujikura Ltd.
- Furukawa Electric Co., Ltd.
- KEI Industries Limited.
- LEONI AG
- LS Cable & System Ltd.
- Nexans
- NKT A/S
- Prysmian S.p.A
- Sumitomo Corporation
- Southwire Company, LLC
- Amphenol TPC.
- American Wire Group
- CommScope, Inc.
- CommScope, Inc.
- Shanghai Shenghua Cable (Group) Co., Ltd.
- TE Connectivity
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 211.62 Billion |
| Forecasted Market Value ( USD | $ 281.64 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
