North America Wire and Cable Market - By Product (Coaxial Cables, Fiber Optics Cables, Power Cables, Signal & Control Cable, Telecom & Data Cables), By Voltage (Low, Medium, High), By Application & Global Forecast, 2023 – 2032

North America Wire and Cable Industry Analysis

North America wire and cable market size surpassed USD 31.4 billion in 2022 and is anticipated to grow at a 6% CAGR between 2023 and 2032. The demand for wires and cables is expected to increase due to infrastructure and development projects as well as the growing demand for consumer electronic products. The global market for wire & cable is set to cross USD 500 billion by 2032.
 

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The North America wire and cable market is experiencing positive growth due to the increasing focus on upgrading and refurbishing existing electrical infrastructure in key economies. The automotive and manufacturing sectors are witnessing significant investments, and the expanding applications in IT and telecommunications are escalate the demand for wires and cables. Growing concerns related to electrical supply faults, health risks, fires, and other operational hazards are further fueling the growth of the industry.
 

Increased investments in expanding electrification networks across remote and rural areas will accelerate the North America wire and cable market growth. Both public and private entities are actively investing in infrastructure development programs and regulatory initiatives, which is driving the overall industry. There is a strong focus on reducing greenhouse gas emissions and implementing energy efficiency measures, creating a favorable environment for the adoption of wire and cable products. The introduction of innovative components, technologies, and control equipment to upgrade existing electrification networks is also contributing to the positive outlook of the industry.
 

COVID-19 Impact

The North America wire and cable market was moderately affected by the COVID-19 pandemic, leading to a minor impact on its revenue. The implementation of lockdown process and interruptions in the supply chain resulted in delays in the development of utility-scale projects and sustainable energy initiatives. However, the power and telecom sectors continued their operations to ensure the maintenance of electrical infrastructure during the pandemic. Furthermore, there is a rising demand for replacing or refurbishing aging grid infrastructure, along with ongoing construction activities in the building sector, which will contribute to the growth of the industry.
 

North America Wire and Cable Market Trends

The North America wire and cable market is expected to experience substantial growth led by the expanding consumer electronic sector and the development of grid infrastructure networks. Manufacturers are making significant investments in research and development to improve their product offerings in response to evolving consumer demand. The shift towards renewable energy sources such as solar and wind power has increased the demand for wire and cable products capable of efficiently transmitting renewable energy over long distances. Furthermore, the integration of smart grid technologies, including advanced metering infrastructure and distribution automation, necessitates the use of wire and cables for data transmission and communication within the grid infrastructure.
 

North America Wire and Cable Product Segmentation

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The North America power cable market size accounted for over USD 15.4 billion in 2022 and is set to exceed at a CAGR of over 5.5% by 2032. The power cable market is poised for substantial growth, primarily propelled by its wide range of applications in low-rated capacity networks. Government initiatives aimed at improving transmission capacities through the adoption of sustainable and energy-efficient components will fuel the demand for power cables. Furthermore, regulatory efforts to replace traditional power generation systems with cleaner and higher-capacity energy sources will further contribute to the industry's growth.
 

North America Wire and Cable Voltage Segmentation

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The low-voltage wire and cable market in North America is predicted to witness gains at nearly 6% up to 2032. The growth of the low-voltage wire and cable market can be attributed to its wide range of applications in various sectors such as consumer electronics, communication, automotive, and secondary power distribution. The increasing demand for reliable and cost-effective electricity supply, along with the expanding electronics and communication industry, will have a positive impact on the market. Furthermore, the need for high-speed data transmission in applications like 5G networks, cloud computing, and IoT devices is proliferate the demand for low-voltage cables that can support higher bandwidths and faster data transfer rates.
 

North America Wire and Cable Application Segmentation

North America wire & cable market from utility sector was valued at USD 8.4 billion in 2022 and is poised to reach USD 15 billion by 2032. Increasing emphasis on upgrading and modernizing utility infrastructure to ensure efficient and reliable transmission and distribution of electricity will boost the industry landscape. The ongoing shift towards renewable energy sources, such as solar and wind power, has led to an increased demand for cables that can transmit power from these sources to the utility grid. As governments and utilities across the region aim to reduce carbon emissions and increase the share of renewable energy in their energy mix, the demand for cables suitable for renewable energy applications is growing.
 

In addition, the utility sector requires cables that can withstand harsh environmental conditions, such as extreme temperatures and moisture, as well as provide high levels of electrical conductivity and insulation. These specialized cables are essential for power transmission and distribution in utility infrastructure, which in turn will proliferate the business landscape in the coming years.
 

North America Wire and Cable Country Outlook

U.S. wire and cable market projected to observe 5.5% growth rate from 2023 to 2032 owing to the increasing electricity demand in the country, coupled with the inadequacy of the existing grid infrastructure, which in turn will create a demand for advanced transmission and distribution networks. The U.S. wire and cable market will also be driven by the growing focus on the renewable energy sector and ongoing construction activities related to renewable energy projects.
 

 As the country strives to transition to cleaner and more sustainable energy sources, the demand for various electrical components, including wire and cable, will rise to support the installation and operation of renewable energy systems. Moreover, the telecommunications sector will play a significant role in rising demand for wire and cable products. With the significant growth in broadband user subscriptions, there is a rising need for fiber optic connections to support high-speed data transmission. This will lead to increased demand for fiber optic cables, which are essential for building robust telecommunications infrastructure.
 

North America Wire and Cable Industry Leaders

The key industry players operating in North America wire and cable market are Prysmian Group, Elsewedy Electric, Sumitomo Electric Industries, Ltd., BELDEN, NIBE Industrier AB, Nexans, Federal Cables, Midal Cables Ltd., ZTT, NKT A/S, Fujikura Ltd., Philatron Wire & Cable, Service Wire, Southwire Company, LLC, and Priority Wire & Cable.
 

North America Wire and cable industry news

• In March 2022, Prysmian Group has secured a significant contract from AP&T Company to test, supply, and install submarine cable links across south-east Alaska. The project, named SEALink, aims to improve communication in the region by providing broadband connectivity to currently underserved rural areas. The submarine fiber optic cable will cover a distance of 214 miles, connecting Prince of Wales Island to Juneau. The contract further includes the provision of a 323-kilometer MINISUB brand cable, specifically the 36 G.652.D FO variant. Manufacture of the cable will take place at the company's facility in Nordenham, Germany. This contract not only strengthens Prysmian Group's global presence but also enhances its expertise in the wires and cables industry.
   
• In December 2019, NKT completed the acquisition of Technology Consulting from ABB which is in line with NKT’s strategy to strengthen its research and development competencies. The acquisition aimed to help the company to reinforce its technological capabilities by utilizing the consulting from ABB, which in turn will aid them to develop innovative technologies for the power cable solutions.
   

North America Wire and cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032, for the following segments:

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By Product

• Coaxial Cables/Electronic Wires
• Fiber Optics Cables
• Power Cables
• Signal & Control Cable
• Telecom & Data Cables

By Voltage

• Low
• Medium
• High

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:

• U.S.
• Canada
• Mexico