Europe Wire and Cable Market Size

Europe Wire and Cable Market Size

Europe Wire and Cable Market size surpassed USD 30 billion in 2022 and is anticipated to record 6% CAGR from 2023 to 2032.

Energy consumption patterns have considerably been impacted by the pace of infrastructure-building operations. A consistent and dependable power supply is seen to be a crucial element needed to increase infrastructure investment. As a result, sales of components for power protection and distribution, such as insulated electric wires, have accelerated significantly. It is expected that the entry of more equity into the civil/infrastructure market would attract infrastructure investments in the coming years, which, in turn, will push the need for wires and cables.
 

Major nations in region lack refined copper production which may restrain Europe wire and cable market development. The supply of copper wire rods in different nations is on the rise owing to the establishment of numerous new firms. Investment by local producers to expand their capacity has become a priority for these players. As controlling raw material costs is a top responsibility for producers, the fluctuating price of raw materials may harm the business landscape. Apart from this, the high dependency of producers on imported raw materials can cause growth of the industry to slow down.