USD 202.1 billion
Wires And Cables Market Size, Share, and Growth Analysis
Wires And Cables Market By Voltage(Low Voltage, Medium Voltage, High Voltage, Extra-High Voltage), By End-User(Aerospace & Defense, Construction {Commercial, Residential}, IT & Telecommunication), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20D2190 |
Region:
Global |
Published Date: January, 2025
Pages:
165
|Tables:
79
|Figures:
75
Format -
Wires And Cables Market Insights
Global Wires And Cables Market size was valued at USD 202.1 billion in 2023 and is poised to grow from USD 210.59 billion in 2024 to USD 292.67 billion by 2032, growing at a CAGR of 4.2% during the forecast period (2025-2032).
A wire is a single electrical conductor, whereas a cable is a group of wires bundled together in an assembly. Various cables, such as coaxial cables, are widely used across industry verticals to transmit electric power and communication signals. Increasing investments in electric power transmission and distribution, as well as increased demand from data centers and the telecom industry, will drive the wires and cables market growth during the forecast period. High investment in smart grid projects and upgrading power transmission systems is also expected to boost demand for wires and cables. Significant investment in smart grids has resulted in an increasing need for grid interconnections; additionally, rising investment in underground cables and advancements in renewable energy has increased the adoption of wires and cables.
Rising urbanization and expanding infrastructure are two major factors driving the wires and cables market. The mentioned factors have had an impact on power and energy demand in the commercial, industrial, and residential sectors. Increased investments in smart power transmission and distribution system upgrades, as well as the development of smart grids, are expected to drive market growth. Smart grid technology implementation has met the growing demand for grid interconnections, resulting in increased investments in new underground and submarine cables.
US Wires And Cables Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Low Voltage
Fastest Growth
Low Voltage
Growth Rate
4.2% CAGR
Global Wires and Cables Market 2022-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Wires And Cables Market Segments Analysis
Global Wires And Cables Market is segmented by Product Type, Material Type, Installation, Voltage, End-Use Industry and region. Based on Product Type, the market is segmented into Electronic Wires, Power Cables, Control & Instrumentation Cables, Communication Cables, Flexible & Specialty Cables and Others. Based on Material Type, the market is segmented into Metal and Polymer. Based on Installation, the market is segmented into Overhead, Underground and Submarine. Based on Voltage, the market is segmented into Low Voltage, Medium Voltage, High Voltage and Extra-High Voltage. Based on End-Use Industry, the market is segmented into Aerospace & Defense, Building & Construction, Oil & Gas, Energy & Power, IT & Telecommunication, Automotive and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Wires and Cables Market Analysis by Voltage
Due to the widespread use of low voltage cables in building wires, LAN cables, appliance wires, distribution networks, and other applications, the low voltage segment accounted for the largest revenue share in 2021, accounting for approximately 43% of global value. These wires and cables help smart grids deliver superior electric supplies and provide an improved electric supply for end-use consumers. The energy and power sectors are changing rapidly around the world. Most developing and developed countries are experiencing high electricity demand and are incorporating large-scale renewable resources.
Wires and Cables MarketAnalysis by End-User
With a market share of around 37% in 2021, the Power Transmission and Distribution segment accounted for the largest revenue in the global wires and cables market. In the electricity T&D ecosystem, several technological upgrades have been made, such as shifting old transmission lines to high/extra high voltage lines to avoid transmission losses. In contrast to the alternating nature of renewable energy sources, these changes aim to stabilize the ecosystem. Furthermore, new methodologies such as synchronized charging of electric vehicles and net metering for solar homes have had a significant impact on the utility sector. However, increased renewable power capacity and energy generation have increased the need for countries to interconnect their transmission systems.
Global Wires and Cables Market By End Use, 2021 (%)
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Wires And Cables Market Regional Insights
In 2021, Asia Pacific accounted for the largest revenue share in the wires and cables industry. North American demand for wires and cables is stable; however, the European region is expected to grow over the forecast period due to initiatives such as Digital Agendas for Europe 2025. Furthermore, the North American region has seen a significant increase in data consumption, prompting major telecommunications companies such as AT&T and Verizon to invest in fiber networks.
Over the forecast period, the Asia Pacific wires and cables market is expected to grow at the fastest CAGR of 4.7%. Over the forecast period, the market is expected to be fueled by rising demand for light, power, and communication. Government initiatives such as "Make in India" and "Go Green" policies are expected to drive the Indian market.
Global Wires and Cables Market By Geography, 2022-2028
- Largest
- Fastest
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Wires And Cables Market Dynamics
Wires and Cables Market Driver
- Increased energy demands in the Asia Pacific, Middle East, and South America have resulted in rising investments in smart grids in these regions. This will fuel the demand for low voltage cables. The other factors that influence the growth of low voltage cables are the growth in the power generation, power distribution sector from renewable energy sources, and demand from automotive and non-automotive industries. Urbanization and industrialization are the major reasons for increasing the overall market growth. The need for power grid interconnections in areas with a dense population is creating a demand for underground and submarine cables. Regions such as North America and Europe are switching towards the adoption of underground cables instead of overhead cables. The underground cables reduce the space required and offer reliable transmission of electricity.
- Because of certain minor shifts in communication technologies, the COVID-19 outbreak has seen an impact on the wires and cables market growth. Online courses and classes offered by universities and colleges due to global closure, the introduction of telehealth in the healthcare industry to reduce in-person visits, and companies working remotely and adhering to WFH (Work from Home) policies are just a few of the notable examples seen around the world. As a result, connectivity and communication technologies have advanced throughout the pandemic. Because the pandemic has highlighted the true value of connectivity, the telecommunications industry has benefited greatly from the situation. Despite the pandemic and resulting economic downturn, 5G progress in connections and deployments has continued.
Wires and Cables Market Restraint
- Rubber and plastic-based ingredients such as PVC grains are the primary raw materials required for cable manufacturing. Fluorine plastic and silicone rubber are the most common organic polymer materials, whereas copper is required for wires. An increase in the price of raw materials, particularly copper, has a direct impact on the profit margins of wires and cable manufacturers, limiting the market growth.
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Wires And Cables Market Competitive Landscape
The market is highly competitive and concentrated, with the top three companies accounting for the largest share of revenue in 2021. Some of the market's major players include Belden Inc., Nexans, and Fujikura Ltd. To gain a competitive advantage, market vendors focus on expanding their customer base. As a result, key companies undertake a variety of strategic initiatives, such as partnerships, mergers and acquisitions, collaborations, and the development of new products and technologies.
Top Players in Wires And Cables Market
- Prysmian Group (Italy)
- Nexans S.A. (France)
- Sumitomo Electric Industries (Japan)
- Southwire Company (United States)
- Furukawa Electric Co., Ltd. (Japan)
- LS Cable & System Ltd. (South Korea)
- Fujikura Ltd. (Japan)
- Leoni AG (Germany)
- Polycab India Limited (India)
- KEI Industries Limited (India)
- Hengtong Group Co., Ltd. (China)
- NKT A/S (Denmark)
- TPC Wire & Cable Corp. (United States)
- Encore Wire Corporation (United States)
- General Cable Corporation (United States)
- Belden Inc. (United States)
- TPC Wire & Cable Corp. (United States)
- Apar Industries Ltd. (India)
- Finolex Cables Ltd. (India)
- Universal Cables Ltd. (India)
Wires and Cables Market Recent Developments
- In April 2022, RR Kabel acquired the Home Electrical Business of Luminous (from Schneider Electric).
- In February 2022, RR Kabel produced the new HT cable. The cable is 1 km long, 3 Core x 240 sq. mm 33Kv and weighs up to 11MT, delivered in a 3200mm steel drum.
- In October 2021, Furukawa Automotive Systems Inc. demonstrated its first installation of aluminum electrical wire in WHs for automobile seats. It employs the exceptional corrosion-resistant Alpha Terminal Series.
Wires And Cables Key Market Trends
- The rise in the trend of renewable energy generation around the world, as well as the increased deployment of new power grid infrastructure, are significant factors influencing the growth of the power cable market. For instance, an increasing number of developing countries are experiencing a lack of power grid infrastructure to transfer electricity; as a result, governments in these countries are focusing on establishing safe power grid infrastructure. Furthermore, the increased use of smart grids fuels the growth of the electrical cable market. However, the complexity of power cable deployment planning, as well as delays in government authorization, may impede market growth during the forecast period. On the contrary, an increase in global power demand creates lucrative growth opportunities for the wires and cables market.
Wires And Cables Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Governments have set ambitious goals for the deployment of green energy technologies to reduce reliance on fossil fuels. The willingness of various nations to exceed the required goals will almost certainly provide a great opportunity for the market. The increasing installation of wind turbines and solar farms has increased the demand for wires and cables.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 202.1 billion |
| Market size value in 2032 | USD 292.67 billion |
| Growth Rate | 4.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Wires And Cables Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Wires And Cables Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Wires And Cables Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Wires And Cables Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Wires And Cables Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Wires And Cables Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Wires And Cables Market Report Snapshots
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