India Wire and Cable Market Overview, 2028

India Wire and Cable Market Overview, 2028

The market is going to be driven by factors such as increased renewable power generation in India, expansion and remodelling of transmission and distribution infrastructure in India, and increased investments in metro railroads. Increased investments in smart grid projects and upgrades to power transmission and distribution networks are also expected to drive demand for wires and cables in India. Significant investments in smart grid technology have resulted in an increased need for grid interconnections. Furthermore, increased investments in subterranean cables, as well as the expansion of renewable energy, are expected to accelerate the adoption of wires and cables. Wire and cable demand is directly related to the expansion of the manufacturing industry and infrastructure in the electricity, telecommunications, residential, and commercial sectors. As a result, the government's initiatives on several fronts such as power, housing, infrastructure, and digitization are certain to produce a lot of business for the wire and cable industry in the near future. Similarly, with the government's emphasis on promoting renewable energy, the sector is now anticipating the digitization of cables for solar and wind power applications, in addition to oil and gas, railways, and other specialised fields. Growing knowledge of renewable energy's potential has resulted in substantial adoption of renewable energy. Furthermore, supportive government programmes for the development of renewable electricity are a significant element driving the expansion of renewable power generation, which in turn drives the demand for wires and cables.

According to the research report ""India Wire and Cable Market Overview, 2028,"" published by Bonafide Research, the India wire and cable is predicted to reach market size of more than USD 15.3 Billion by 2028. The Union Government unveiled the National Infrastructure Pipeline (NIP) in 2019, with a budget of Rs 102 lakh crores to complete over 7,000 projects over a five-year period. This substantial government effort has multiplied India's overall potential and offered direct and indirect companies in the infrastructure value chain a once-in-a-lifetime chance. The road network would also increase demand for cables and wires. Furthermore, the electrical industry will benefit from this, as expansion in infrastructure will drive up demand for lines and cables. One of the primary forces of growth that has resulted in the electrification of every inhabited hamlet in India today. Various state and federal programmes continue to emphasise affordable and accessible electricity, and electrification efforts are expected to gain traction. The National Electricity Policy (NEP) 2021 prioritises quality power and accelerates investments in electricity distribution through PPP. The Production-Linked Incentive (PLI) scheme, which was launched in April 2020, was designed to encourage large-scale electronics manufacturing in India. Additionally, state-level regulations and incentives contribute to the benefits. To increase export performance, the government has also launched many programmes for exporters, including a tax return plan, an expanded credit scheme, the Narvik (Niryat Rin Vikas Yojana) scheme for enhanced insurance cover, and lower premiums for small exporters.

5G technology offers significantly higher data speeds and lower latency compared to previous generations of wireless networks. As a result, the demand for data-intensive applications such as video streaming, virtual reality, augmented reality, and Internet of Things (IoT) devices is expected to grow exponentially. To support these data requirements, robust and high-capacity wire and cable infrastructure is needed. 5G networks require a dense fiber optic backhaul network to connect the 5G base stations to the core network. Fiber optic cables provide the necessary bandwidth and low latency required for the efficient transmission of data in 5G networks. Therefore, the deployment of 5G necessitates the expansion and enhancement of the fiber optic cable infrastructure in India. 5G networks rely on a larger number of small cells compared to previous generations. Small cells are lower-power base stations that are deployed in closer proximity to users to provide better coverage and capacity. These small cells require fiber optic cables for connectivity, as they need to be connected to the core network through a fiber backhaul. The deployment of small cells in urban areas and high-demand locations drives the demand for fiber optic cables. India has been actively promoting the development of smart cities, which leverage technologies like 5G for improved urban services and infrastructure. These smart city projects often require the installation of extensive wire and cable networks to support a range of applications, including smart surveillance, traffic management, public Wi-Fi, and IoT devices. 5G technology acts as a catalyst for these smart city initiatives, thereby driving the demand for wire and cable infrastructure.

The voltage type includes, Low Voltage, Medium Voltage, High Voltage, and Optical Fiber Cable. The Low voltage is dominating the market in India. India is experiencing rapid urbanization and ongoing infrastructure development projects. As new buildings, residential complexes, and commercial spaces are constructed, there is a significant requirement for low voltage cables to establish electrical connections. The growth of cities and the expansion of infrastructure contribute to the strong market demand for low voltage cables. Low voltage cables are commonly used in power distribution networks, especially for the final leg of electricity transmission to end consumers. These cables are responsible for delivering electricity from distribution transformers to individual buildings or households. Given the extensive power distribution networks across the country, low voltage cables are widely used and in high demand. Low voltage cables are generally more affordable compared to medium or high voltage cables. This makes them a cost-effective choice for electrical wiring and cabling purposes, especially in residential and commercial applications. The affordability and cost-effectiveness of low voltage cables make them a preferred option for a large portion of the market. The majority of electrical wiring and cabling needs in India come from residential and commercial buildings. These applications typically require low voltage cables to transmit electricity for lighting, power outlets, and various electrical devices. The high demand for housing, offices, retail spaces, and other commercial establishments contributes to the dominance of low voltage cables in the market.

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

Aspects covered in this report
• India Wire and Cable market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

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.