India Wires and Cables Market Report and Forecast 2024-2032

India Wires and Cables Market Report and Forecast 2024-2032

India Wires and Cables Market Report and Forecast 2024-2032

Market outlook

According to the report by Expert Market Research (EMR), the India wires and cables market size reached a value of USD 1,083.71 billion in 2023. Aided by the increasing demand for reliable and efficient power transmission solutions and the growing applications of wires and cables across various sectors, the market is projected to further grow at a CAGR of 14.5% between 2024 and 2032 to reach a value of USD 3,655.81 billion by 2032.

Wires and cables are critical components in the infrastructure of power transmission and distribution systems. They are used for transmitting electricity, signals, and data across various applications, including residential, commercial, industrial, and telecommunications sectors. The market is experiencing significant growth due to rapid industrialisation, urbanisation, and the expansion of the power and telecommunications sectors.

The increasing demand for reliable and efficient power transmission solutions is driving the India wires and cables market growth. With the rising population and rapid urbanisation, there is a significant need for robust infrastructure to support electricity distribution and transmission. Wires and cables play a crucial role in ensuring the reliability and efficiency of power transmission systems, driving their demand in the Indian market.

The expansion of the telecommunications sector also plays a significant role in the market's growth. As India continues to witness a surge in internet penetration and the adoption of digital technologies, there is a growing need for efficient data transmission solutions. Wires and cables are essential components in the telecommunications infrastructure, ensuring seamless connectivity and high-speed data transmission.

The expanding applications of wires and cables in various sectors significantly contribute to the wires and cables market in India. In the power sector, wires and cables are widely used for transmitting electricity from power plants to end-users, including residential, commercial, and industrial consumers. The increasing investments in power generation and distribution infrastructure have boosted the demand for wires and cables in the power sector.

In the construction sector, wires and cables are used for electrical wiring in residential, commercial, and industrial buildings. The rapid urbanization and the increasing number of construction projects in India have driven the demand for wires and cables in the construction sector. Additionally, the increasing focus on smart cities and the adoption of smart technologies in building infrastructure have boosted the demand for advanced wiring solutions, consequently driving up the India wires and cables market share.

Copper wires and cables represent the largest segment, driven by their excellent electrical conductivity and durability. Aluminium wires and cables are also significant, offering a cost-effective alternative for power transmission and distribution. Fiber optic cables are gaining momentum for their use in telecommunications and data transmission, providing high-speed and reliable connectivity.

As per the India wires and cables market analysis, low voltage cables represent the largest segment, driven by the high demand for residential and commercial electrical wiring. Medium and high voltage cables are also significant segments, catering to the power transmission and distribution needs in industrial and infrastructure projects. Extra high voltage cables are gaining traction for their use in large-scale power transmission projects, including renewable energy and grid integration.

Market Segmentation

The market can be divided based on voltage, product, material, end use, and region

Market Breakup by Voltage

• Low Voltage
• Medium Voltage
• High Voltage

Market Breakup by Product

• Power Cables
• Building Wires
• Flexible Wires and Cables
• EHV Cables
• Control/Instrumentation Cables
• Others

Market Breakup by Material

• Copper
• Aluminium
• Others

Market Breakup by End Use

• Construction
• Residential
• Commercial
• Telecommunications
• Energy and Power
• Automotive
• Aerospace and Defence
• Others

Market Breakup by Region

• North India
• South India
• East India
• West India

Competitive landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in India wires and cables market. some of the major players explored in the report by expert market research are as follows:

• Polycab India Limited
• KEI Industries Limited
• R R Kabel Ltd.
• Universal Cable Limited
• Gloster Cables Limited
• Finolex Cables Ltd.
• V-Guard Industries Ltd.
• Havells India Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.