Wire and Cable Market 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): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global wire and cable market was valued at $213,547.0 million in 2022, and is projected to reach $323,840.0 million 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.
Key Benefits For StakeholdersThis 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 SegmentsBy Installation TypeOverhead
Submarine
Underground
By VoltageHigh
Medium
Low
By VerticalEnergy and Power
Aerospace and Defense
IT and Telecommunication
Industrial
Oil and Gas
Others
By RegionNorth 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
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