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Industry Analysis
Europe Wire and Cable Market size exceeded USD 28 billion in 2021 and is anticipated to expand at 6.5% CAGR from 2022 to 2030. The booming internet and telecom sector, fueled by the increasing penetration of high-speed internet and cutting-edge technologies such as IoT, AI, etc.
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The massive growth in smartphone users and the subsequent expansion of optic-fiber networks has resulted in the proliferation of the telecom sector in the region. For instance, estimations by the European Telecommunications Network Operators' Association suggest that between 2020 and 2021, 5G coverage in Europe almost increased two-fold, reaching 62% in 2021 compared to 30% the in 2020. The FTTH coverage in the country reached 51.6% of the overall NGA (next-generation access) connections.
| Report Coverage | Details |
|---|---|
| Base Year: | 2021 |
| Market Size in 2021: | 28.8 Billion (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 6.5% |
| 2030 Value Projection: | 51.2 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 240 |
| Tables, Charts & Figures: | 258 |
| Segments covered: | Product, Voltage, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The wire and cable market in Europe hugely relies on countries such as Russia, Columbia, Chile, etc., for raw material imports, increasing the dependency of regional manufacturers on suppliers across these economies. Thus, the high import dependency can impact the market dynamics through 2030. On the flip side, the rising influence of broadcasting media and the ongoing deregulation and privatization of telecom regulators will transform the industry dynamics.
Increasing penetration of high-definition gadgets to propel the demand for coaxial cables/electronic wires
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With respect to the product landscape, the coaxial cables/electronic wires segment crossed around USD 3 billion revenue in 2021, credited to the improving living standards and the rising leisure expenditure on high-definition gadgets and appliances for entertainment. Additionally, the increased adoption of fire-resistant wires and cables with longer life spans backed by stringent building safety norms will bolster product sales across Europe.
Escalating off-grid electrification to foster the adoption of medium voltage wires & cables
Regarding the voltage category, the medium-voltage segment will achieve over 6% gains through 2030. Medium voltage wires and cables are widely utilized for ensuring power supply and distribution in isolated and off-grid areas, substation construction sites, or during inclement weather and unpredictable power outages. The ongoing expansion of off-grid energy infrastructure across major European economies driven by supportive government initiatives will boost the market growth.
Novel innovations to bolster product demand across the food & beverages industry
The Europe wire and cable market size from food & beverages applications will observe around 6% growth rate till 2030. Efficient power supply and control cables are used across the food & beverages industry to power processing and packaging machinery. The increasing efforts leading wire and cable manufacturers in the region to manufacture cables made of specially formulated insulation materials to keep up with the hygiene requirements, prevent contamination, and offer resistance against physical stress and extreme temperatures will stimulate product demand across the F&B sector.
Accelerating digital transformation in France
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The France wire & cable market accounted for 10% of the revenue share in 2021, owing to the rising consumer shift toward leisure activities and the flourishing tourism sector backed by the robust economic landscape across the country. In addition, the proliferation of the existing digital infrastructure and an increased emphasis on maintaining a reliable & effective communication network will augment the industry growth.
New product development to strengthen the competitive landscape
Major companies in the Europe wire and cable market include Prysmian Group, Commscope, LAPP Group, Elsewedy Electric, LS Cable & System Ltd., Furukawa Electric Co., Ltd., Belden Inc., igus, HELUKABEL GmbH, SAB Bröckskes GmbH & Co. KG, Nexans, Friedrich Lütze GmbH, Viakon, and Shawcor.
These enterprises have been focusing on developing new and innovative products to meet the demand of the rapidly expanding customer base and gain a competitive edge in the market. For instance, in February 2020, Prysmian Group introduced a new range of micro duct high-density cables, Sirocco, for 5G networks. These cables offer enhanced fiber densities of up to 10.5 fibers/mm2 and make installations faster, more sustainable, and cost-effective by limiting the impacts on carbon footprints.
Impact of COVID-19 on the Europe wire and cable market trends
During the first half of 2020, the wire & cable industry across Europe was majorly hit by the COVID-19 pandemic due to stringent lockdown restrictions and the unprecedented closure of key major end-use industries. Halted industrial and commercial operations, reduced power consumption, and the significant decline in static expenditure further hampered the industry revenue. However, the gradually resuming operations across the industrial and commercial sectors, resulting in increased power demand and surging infrastructural investments, will help the industry gain significant impetus over the coming years.
The Europe wire and cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” and “USD” from 2018 to 2030, for the following segments:
Europe Market, By Product
- Coaxial Cables/Electronic Wires
- Fiber Optics Cables
- Power Cables
- Signal & Control Cable
- Telecom & Data Cables
Europe Market, By Voltage
- Low
- Medium
- High
Europe Market, By Application
- Food & Beverages
- Automotive
- Material Handling/Logistics
- Entertainment/Leisure
- Utilities
- Railways
- Consumer Electronics
- Building Infrastructure
- Others
The above information has been provided for the following countries:
- Europe
- UK
- France
- Netherlands
- Italy
- Spain
- Sweden
- Denmark
- Belgium
- Germany
- Russia
- Greece
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