The global wire and cable market was valued at $213.54 Billion in 2022, and is projected to reach $323.84 Billion by 2032, registering a CAGR of 4.55% from 2023 to 2032.
Wires and cables are used for transmission & distribution of electrical energy as well as to transfer data and to provide high-end connectivity among the end points. The rise in government initiatives to improve connectivity within the country and surge in demand for higher bandwidth network by different industries drive the growth of the market. In addition, surge in investment in defense & submarine cables by various organizations fuels the growth of the market.
The rapid advancements in technology and the rise of digitalization have resulted in the widespread adoption of electronic devices, smart homes, automation systems, and the Internet of Things (IoT). These innovations necessitate the use of dependable wiring and cabling solutions to ensure uninterrupted connectivity, efficient data transmission, and reliable power supply. The market growth is supplemented by proactive industrialization efforts and surge in manufacturing output, owing to technological advancements. These factors have allowed emerging markets to evolve as largest markets during the forecast period both from the demand as well as the supply side. Public & private organizations have substantially invested in R&D activities and fabrication techniques to develop cost-effective wires and cables.
This expansion requires extensive wiring and cabling for electrical power supply, lighting, telecommunications, and various applications. The energy sector, Including renewable energy sources, power generation, transmission, and distribution networks, relies heavily on wires and cables. As the demand for electricity continues to rise, there is a need for robust and efficient electrical infrastructure, driving the demand for high-quality cables.
For the purpose of analysis, the wires and cables market is segmented on the basis of installation type, voltage, vertical and region. On the basis of installation type, it is categorized into overhead, underground, and submarine. As per voltage, it is fragmented into high, medium, and low. By vertical, it is divided into industrial, aerospace & defense, oil & gas, energy & power, IT & telecom, and others. Region wise, the wires and cables market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the wires and cables market Include Nexans S.A., Prysmian Group, Furukawa Electric Co., Ltd., Belden Inc., Sumitomo Electric Industries, Leoni AG, Fujikura, LS Cable & System Asia Ltd, KEI Industries Ltd., and Amphenol Corporation.
Wires and cables are used for transmission & distribution of electrical energy as well as to transfer data and to provide high-end connectivity among the end points. The rise in government initiatives to improve connectivity within the country and surge in demand for higher bandwidth network by different industries drive the growth of the market. In addition, surge in investment in defense & submarine cables by various organizations fuels the growth of the market.
The rapid advancements in technology and the rise of digitalization have resulted in the widespread adoption of electronic devices, smart homes, automation systems, and the Internet of Things (IoT). These innovations necessitate the use of dependable wiring and cabling solutions to ensure uninterrupted connectivity, efficient data transmission, and reliable power supply. The market growth is supplemented by proactive industrialization efforts and surge in manufacturing output, owing to technological advancements. These factors have allowed emerging markets to evolve as largest markets during the forecast period both from the demand as well as the supply side. Public & private organizations have substantially invested in R&D activities and fabrication techniques to develop cost-effective wires and cables.
This expansion requires extensive wiring and cabling for electrical power supply, lighting, telecommunications, and various applications. The energy sector, Including renewable energy sources, power generation, transmission, and distribution networks, relies heavily on wires and cables. As the demand for electricity continues to rise, there is a need for robust and efficient electrical infrastructure, driving the demand for high-quality cables.
For the purpose of analysis, the wires and cables market is segmented on the basis of installation type, voltage, vertical and region. On the basis of installation type, it is categorized into overhead, underground, and submarine. As per voltage, it is fragmented into high, medium, and low. By vertical, it is divided into industrial, aerospace & defense, oil & gas, energy & power, IT & telecom, and others. Region wise, the wires and cables market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the wires and cables market Include Nexans S.A., Prysmian Group, Furukawa Electric Co., Ltd., Belden Inc., Sumitomo Electric Industries, Leoni AG, Fujikura, LS Cable & System Asia Ltd, KEI Industries Ltd., and Amphenol Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wire and cable market analysis from 2022 to 2032 to identify the prevailing wire and cable market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wire and cable market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global wire and cable market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Installation Type
- Overhead
- Submarine
- Underground
By Voltage
- High
- Medium
- Low
By Vertical
- Energy and Power
- Aerospace and Defense
- IT and Telecommunication
- Industrial
- Oil and Gas
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Amphenol Corporation
- Belden Inc.
- Fujikura
- Furukawa Electric Co., Ltd.
- KEI Industries Ltd.
- Leoni AG
- LS Cable & System Asia Ltd
- Nexans S.A.
- Prysmian Group.
- Sumitomo Electric Industries
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: WIRE AND CABLE MARKET, BY INSTALLATION TYPE
CHAPTER 5: WIRE AND CABLE MARKET, BY VOLTAGE
CHAPTER 6: WIRE AND CABLE MARKET, BY VERTICAL
CHAPTER 7: WIRE AND CABLE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Wire and Cable Market,' The wire and cable market was valued at $213.6 billion in 2022, and is estimated to reach $323.8 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.Wires are thin and flexible strands of conductive metal, typically copper or aluminum, that act as the primary means of conducting electricity. They are frequently utilized in smaller-scale applications, such as domestic wiring, electronics, and transmitting signals within devices. Cables consist of several insulated wires that are bundled or twisted together within a protective covering. This configuration offers a stronger and more durable solution for transmitting electricity, data, or signals over extended distances and across diverse applications. Cables are classified based on their specific purposes, such as power cables for transmitting electrical energy.
There are many key factors driving the growth of the wire and cable market. The increasing focus on infrastructure development, including residential, commercial, and industrial projects, drives the demand for wires and cables. These projects require extensive wiring and cabling for power distribution, telecommunications, and data transmission. The rapid pace of urbanization and industrialization in many regions creates a need for reliable electrical networks and communication systems. This drives the demand for wires and cables for various applications, including power distribution, telecommunications, and internet connectivity.
The market also offers growth opportunities to the key players in the market. The growing demand for electric vehicles creates a substantial opportunity for the wire and cable market. EVs require extensive wiring and cabling for their powertrain, charging infrastructure, and onboard systems. Developing high-performance cables with enhanced power transmission capabilities and efficient charging solutions will be crucial in this market segment. The increasing adoption of renewable energy sources presents a significant opportunity for the wire and cable market. As solar and wind power installations expand, there is a growing need for specialized cables capable of withstanding harsh environmental conditions and efficiently transmitting power generated from renewable sources.
The deployment of 5G networks requires new types of cables with higher data transmission capabilities. As 5G becomes more prevalent globally, there will be a surge in demand for specialized cables designed to support the higher frequencies and data rates. The concept of smart cities and the increasing integration of IoT devices in various sectors create opportunities for specialized cables to support smart infrastructure, including sensors, cameras, and communication networks.
The deployment of 5G networks requires upgraded infrastructure and specialized cables capable of handling high data rates and low latency. The expansion of 5G networks presents opportunities for wire and cable manufacturers. The increasing adoption of smart home devices and IoT technologies creates demand for cables and wires to connect and integrate these devices. This includes cables for home automation systems, security systems, and network connectivity. The automation of industrial processes and the use of robotics require reliable and durable cables for power transmission and data communication. This sector offers opportunities for manufacturers to provide cables suitable for industrial applications.
Smart grids are advanced electrical networks that incorporate digital communication and monitoring technologies to enhance the efficiency, reliability, and sustainability of power distribution.To support smart grid implementation, there is a need for specialized wires and cables that can handle the increased data transmission requirements and accommodate the integration of sensors, monitoring devices, and advanced communication systems. These wires and cables play a crucial role in establishing a robust and interconnected infrastructure for smart grid operations.
The wires and cables market are segmented into installation type, voltage, vertical, and region. Based on installation type, it is categorized into overhead, underground, and submarine. As per voltage, it is fragmented into high, medium, and low. By vertical, it is divided into industrial, aerospace & defense, oil & gas, energy & power, IT & telecom, and others. Region wise, the wires and cables market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major global wire and cable market players that have been provided in the report Nexans S.A., Prysmian Group, Furukawa Electric Co., Ltd., Belden Inc., Sumitomo Electric Industries, Leoni AG, Fujikura, LS Cable & System Asia Ltd, KEI Industries Ltd., and Amphenol Corporation. For instance, in March 2022, Furukawa Electric Co., Ltd. and S.L. Development Construction Corporation secured a submarine power transmission contract in the Philippines for a total of approximately 34.4 million USD. The project was awarded by the National Grid Corporation of the Philippines, a corporation in charge of operating, maintaining, and developing the Philippines's state-owned power grid.
Key Market Insights
- By installation type, the overhead segment is estimated to reach $178,996.0 million by 2032, at a significant CAGR of 4.17% during the forecast period.
- By voltage, the high voltage segment was the highest revenue contributor to the market, with a significant CAGR of 5.58% during the forecast period.
- Based on region, Asia-Pacific was the highest revenue contributor, accounting for largest revenue in 2022, and is estimated to reach $162,244.0 million by 2032, with a CAGR of 4.76%.
Companies Mentioned
- Amphenol Corporation
- Belden Inc.
- Fujikura
- Furukawa Electric Co., Ltd.
- KEI Industries Ltd.
- Leoni AG
- LS Cable & System Asia Ltd
- Nexans S.A.
- Prysmian Group.
- Sumitomo Electric Industries
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 274 |
| Published | June 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 213.54 Billion |
| Forecasted Market Value ( USD | $ 323.84 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
