Europe Wire & Cable Market Outlook, 2028

Europe Wire & Cable Market Outlook, 2028

Europe's energy consumption patterns have greatly increased. As a result, demand for wire and cable goods is expanding in Europe. An environmentally sustainable electricity infrastructure is in high demand. The increasing demand for energy will increase the region's demand for modern transmission and distribution networks. The market is changing as a result of rising electricity demand, expansion in the building industry, and increased use of renewable energy sources. Furthermore, the growing use of fibre optic cables in industries like healthcare, construction, and aerospace is propelling the European Wires and Cables Market forward. The growing need for energy, as well as the need to improve existing infrastructure, is fueling the expansion of the European wire and cable market. The market is expanding due to the development of new materials and technologies for wires and cables. For instance, the development of high-performance cables for use in the automotive and aerospace industries is fueling market growth. Furthermore, as people use the internet more, there is a greater demand for high-speed data connections, which is fueling the expansion of the European wire and cable market for fibre optic cables and other high-speed data cables. There are many reasons contributing to the market's expansion, including increased power generation, the power distribution domain from renewable energy resources, and demand from the automotive and non-automotive sectors. Growing industrialization and urbanisation are two main factors driving market expansion. Because of the need for power grid interconnections in the populous region, the need for underground and submarine cables is constantly expanding. Overhead cables are being replaced by underground wires throughout Europe. Underground cables save space while providing a consistent source of electricity.

According to the research report, “Europe Wire and Cable Market, Outlook, 2028"", published by Bonafide Research, the market is expected to add more than USD 12.45 Billion from 2023 to 2028. The need for wires and cables in trains will increase significantly due to increased investments in improving interconnectivity among various EU members. Growing manufacturing and service sectors have compelled regulators to upgrade and re-establish traditional rail networks with highly secure technology, which will broaden the industry picture. Rising investments to restore and improve existing electric infrastructure in order to alleviate chronic T&D losses will drive the UK wire and cable market. Increasing demand for consumer electronics, such as mobile phones, headphones, and laptop computers, will boost regional business prospects over the predicted period. Europe is working on infrastructure development initiatives such as transportation, smart cities, and data centres. These projects necessitate a substantial quantity of wiring and cabling for power transfer, communication networks, and networking. The wire and cable industry is expanding because of the demand for high-performance cables to support major infrastructure initiatives. The European telecommunications business is quickly developing, driven by increased internet adoption, 5G deployment, and demand for improved communication networks. This expansion involves the deployment of fibre optic cables and high-speed data transmission lines, opening up prospects for European wire and cable makers.

Smart city initiatives in Europe have the potential to significantly impact the market for wire and cable. Smart cities rely on advanced technologies and connectivity to improve the efficiency of urban infrastructure, enhance quality of life, and reduce environmental impact. This increased reliance on technology and connectivity requires extensive deployment of wire and cable infrastructure to support various applications. Smart cities require robust digital infrastructure, including high-speed internet connectivity, data centers, and communication networks. This necessitates the installation of fiber optic cables, network cables, and other wiring systems to support reliable and fast data transmission. Smart city projects often involve the deployment of advanced energy management systems, such as smart grids, to optimize energy distribution and consumption. This requires the installation of cables for power transmission, monitoring, and control. Furthermore, the adoption of smart home technology is driving the market for wire and cable in Europe. Smart homes incorporate various automated systems and connected devices that enhance convenience, energy efficiency, and security. These systems rely on wire and cable infrastructure to enable power supply, data communication, and control signals. Smart homes utilize wire and cable infrastructure to connect and control various devices such as lighting systems, HVAC systems, security systems, and entertainment systems. These wired connections enable seamless integration and control of different components within the home.

Germany is leading the market of wire and cable in Europe with highest market share. Germany has a strong and diverse industrial foundation, with industries ranging from automotive to machinery, electrical engineering, and renewable energy. These industries rely heavily on wire and cable for a variety of purposes, ranging from power transmission to communication systems. These sectors' demand has catapulted Germany's wire and cable market to the forefront of Europe. Germany has been at the forefront of the global energy revolution, focusing on the transition to renewable energy sources. This change necessitates the construction of vast infrastructure, such as wind farms, solar power plants, and electric vehicle charging stations. Such installations rely largely on wire and cable systems, and the high demand for these infrastructure projects has led to Germany's market leadership. Smart cables are gaining popularity in the industry. RFID (Radio Frequency Identification), sensors, and communication capabilities are all included in these connections. They provide increased performance by enabling real-time monitoring, problem detection, and remote management of cable systems, offering improved performance, efficiency, and maintenance.

The events and different festival celebrations in Europe are further propelling the market growth of wire and cable in Europe. Large-scale events and festivals frequently necessitate the building of temporary infrastructure such as stages, lighting systems, sound systems, and security arrangements. These temporary installations often rely on wire and cable systems for power distribution, lighting, audio-visual connections, and communication networks. During the planning and setup phases of such events, demand for wire and cable may surge. Sports contests and music festivals, for example, may necessitate large audio-visual infrastructures for transmission and live streaming. This infrastructure comprises cameras, video cables, audio cables, and network cables. The necessity for dependable connections and the transmission of high-quality audio-visual signals may raise demand for wire and cable goods. Venues may undergo improvements and renovations to improve their facilities in preparation for hosting major events and festivals. These improvements may include the installation of new electrical and communication infrastructure, which would require the use of wire and cable supplies. These infrastructural improvements may increase demand for wire and cable.

The voltage type includes voltage type, low voltage, medium voltage, high voltage and optical fiber cable. The optical fiber cable is certainly gaining popularity in wire and cable market of Europe and is expected to grow with highest CAGR of the market in the upcoming time frame. Optical fiber cables have significantly higher bandwidth and data transmission capabilities. They can transmit large amounts of data at extremely high speeds, making them ideal for applications that require fast and reliable communication, such as internet connectivity, Optical fiber cables are not susceptible to electromagnetic interference (EMI) or radio frequency interference (RFI) since they use light signals for data transmission instead of electrical signals. This makes them highly reliable and less prone to signal degradation over long distances. The signal quality remains consistent, ensuring minimal data loss or latency. In industries that rely on secure and uninterrupted data transmission, such as finance, healthcare, and research, optical fiber cables offer a crucial advantage. Optical fiber cables have a high capacity for scalability, allowing for easy upgrades and expansions of network infrastructure. As technology continues to evolve and data demands increase, optical fiber networks can accommodate higher bandwidth requirements without the need for extensive infrastructure changes. This future-proofing aspect makes optical fiber cables an attractive option for long-term investments in Europe's wire and cable market.

Major companies present in the market:
Nexans S.A., Prysmian S.p.A., Furukawa Electric Co., Ltd. , Amphenol Corporation, Belden Incorporated, Te Connectivity, Leoni AG, Corning Incorporated , Havells India Limited, Fujikura Ltd., Sumitomo Electric Industries, Ltd., Hengtong Group, LS Cable & System Ltd. , LLC, CommScope Holding Company, Inc, KEI Industries Ltd. , NKT A/S, Elsewedy Electric Co S.A.E.

Considered in this report
• Geography: Europe
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Europe Wire and Cable market with its value and forecast along with its segments
• Country-wise Wire and Cable market analysis
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries Covered in the report:
• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

By Voltage Type
• Low Voltage
• Medium Voltage
• High Voltage
• Optical Fiber Cable

By End User:
• Power Infrastructure (Energy, Power Transmission and Distribution)
• IT & Telecommunication
• Building & Construction (Commercial and Residential)
• Aerospace & Defence
• Consumer Electronics
• Automotive (Passenger, Commercial and Utility Vehicles
• Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Wire and Cable industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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