North America Wire and Cable Market Size & Share 2025 – 2034

North America Wire and Cable Market Size

North America wire and cable market was valued at USD 36.5 billion in 2024 and is estimated to grow at a CAGR of 5.1% from 2025 to 2034 due to high investments in infrastructure, technology, and growing demands from the energy sector. In 2023, the U.S. invested the amount more than USD 65 billion in energy sector, that will aid the market to grow in coming years.

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The rising preference for solar and wind energy in the North America has driven the need for power transmission cables. Government are taking initiative to expand this sector by bringing the multiple projects in renewable energy sector. The U.S. has many renewable energy projects, that are a part of the Biden-Harris administration's efforts to achieve 100% carbon-free electricity by 2035.
 

Investment in infrastructure is the most significant for the economic development of the wire and cable market in North America. Investment, upgrades, and maintenance of power grids and telecom networks require a vast amount of resources. For instance, the DOE announced USD 13 billion in 2023 for grid modernization and strengthening of the entire system.
 

The nationwide implementation of 5G technology is going to necessitate a vast number of fiber optic cables as well as copper and aluminum cabling to capture the volume and speed of data traffic to be generated. For instance, the declaration made by Amazon Web Services for new data centers, which also escalates the need for high-performance cables. AWS broadcasted that they would allocate USD 35 billion to the region.

The growing acceptance of EV has increased the demand for specialized cables in battery controls, electric drive trains, and charging facilities. It will further push companies towards large investments. For instance, in June 2021, General Motors invested USD 35 billion for the development of EV and autonomous vehicles in U.S. by 2025.
 

Apart from the specific needs of industries, technological improvements are also driving growth in the market. Cable manufacturers have started to focus on energy-efficient, durable, and cost-effective products. Manufactures are focusing on partnerships and collaboration to get advantage in the business growth, thereby growing the overall wire and cable market in the North America. These factors will be fueling the growth of market significantly.
 

North America Wire and Cable Market Trends

The rising trend towards AI, IoT and Blockchain technology has aided the wire and cable industry to grow at a faster pace. Smart cables, which are embedded with sensors, are used extensively across the wire and cable industry. Cables including halogen-free flame retardant (HFFR) cables are becoming increasingly popular in the wire and cable market. These cables meet the all the regulations regarding the safety.
 

The growth in telecommunication industry is changing the overall landscape of the wire and cable market in the North America. In Canada, the telecommunication played a crucial role by contributing USD 80 billion in its GDP. These figures indicates that the demand for wire and cables will be higher in coming years.
 

Multiple companies are establishing significant partnerships and collaboration, expanding their business and growing in this market remarkably. This substantiates the focus of the sector towards product authenticity and supply chain security. Such collaborative initiatives also aid in the establishment of Meta-Anchor Technology which in turn enables an increase in product quality.
 

The demand for renewable energy sector is increasing on a large scale in U.S., thereby growing the need for wire and cables. The U.S. government is working on massive investments in various renewable energy projects, growing the North America wire and cable market. For instance, in 2023, U.S. invested nearly USD 93 billion in renewable energy technologies.
 

Moreover, the supportive schemes and regulations will further enhance the utility of wire and cable across the multiple industries. These regulations generally are intended to grow the demand for clean technology and renewable energy to curb the carbon emissions. These initiatives generally will help the market boost on a massive scale.
 

North America Wire and Cable Market Analysis

• The North America wire and cable industry holds the market size of around USD 31.4 billion in 2022, USD 33.7 billion in 2023, and USD 36.5 billion in 2024. Based on product, power cables segment will be anticipated to cross USD 29.2 billion owing to the growing infrastructure in energy sector. The rising power transmission and distribution network will be propelling this segment significantly in coming decades.
   
• The signal & control cable segment holds the market share of approximate 13.6% in 2024 due to rising residential and commercial construction activities across the North America. The construction industry is growing tremendously owing to the growing number of populations in the U.S. In 2023, the total annual spending on construction in the US was USD 2 trillion.
   
• The focus on green economy energy saving buildings has increased the demand for sophisticated wiring systems. For instance, the UK government in January 2023 unveiled new legislation to increase the minimum standard of lighting systems in buildings to more efficient standards, saving household between USD 2500 and USD 3700 over the life cycle of the new bulbs and 1.7 million tons of carbon emissions.
   
• The wire and cable market is also experiencing the multiple innovations in the different segments. These segments carry high importance which depends on requirements in the sector. The segments will significantly grow year by year due to abovementioned reasons, thereby raising the overall wire and cable market in North America.
   
• Alongside heavy government funding and investment, the construction of a smart grid is developing as another frontier for growth in the wires and cables industry. The U.S. Department of Energy announced in February 2023 that it will award USD 48 million in funding under a new program contribution towards advanced control and security techniques of the US electrical grid system.
   

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• Based on application, utilities segment in the North America wire and cable market are expected to grow at a CAGR of 4.7% on account of growing number of renewable as well as nonrenewable energy projects. Due to the high demand for the electricity, the countries in North America have shifted their focus on this sector with the consideration of its clean and efficient sources. This factor will positively influence the wire and cable industry in North America.
   
• The building and infrastructure segment holds the market share of over 10.8% in 2024, due to ongoing development in electrical infrastructure in the North America. The countries including U.S., Canada and Mexico are developing their infrastructure on massive scale. In 2024, Government of Canada committed USD 180 billion for the next 12 years for infrastructure benefits.
   
• In North America wire and cable market, automative segment holds the market size of USD 2.7 billion in 2024 since the North America is witnessing industrialization in countries including U.S., Canada and Mexico. Similarly, other segments such as the telecommunication industry is also booming owing to the rising preference for the 5G network across the North America. Therefore, ongoing network and infrastructure development projects will also significantly drive the need of wire and cable in this region.
   
• Utility segment is one the most important segment in the North America wire and cable market on account of its growing demand across the region. The rising number of investments will further propel the growth of this segment in coming years. For instance, in 2023, Canada nearly invested USD 2.1 billion to support clean electricity infrastructure, including renewable energy technologies & energy storage.
   
• Other emerging economies including Mexico also carry equal importance in the growth of wire and cable since the Mexico is also focusing on renewable energy sectors on a massive scale. The Mexican government has announced its plans to invest USD 23 billion in the Federal Electricity Commission from 2024 to 2030, to expand distribution networks, fueling the demand for wire and cable on a large scale.
   

• The U.S. wire and cable market holds the market size of USD 27.6 billion due to growing urbanization and industrialization in the U.S. The technological advancements are enhancing the growth rates of the economy. The ongoing modernization of the U.S. infrastructure has led the demand for extensive wiring and cabling for distribution networks and power generation, which will boost North America wire and cable market on a large scale.
   
• Multiple projects in telecommunication sectors are also changing the landscape of wire and cable industry in North America. Government, with the help of private companies, are initiating various program, to expand the distribution network. For instance, in 2023, U.S. Government announced BEAD program, which will be funding of around USD 42 billion for increasing internet network.
   
• Similarly, Canada is highly focusing on the use of clean technologies to control the carbon emission. The Canadian government taking relentless efforts to bring renewable energy projects in the country. Canada has intended to use of untapped wind and solar energy resources. At the end of 2024, it had 24 GW of wind energy, solar energy and energy storage installed capacity across Canada.
   
• Other industries including oil & gas, chemical, manufacturing and automotive are also imposing a strong impact on the wire and cable industry in the North America. These industries are stepping ahead with the crucial investments and companies’ business expansion targets. In 2023, the U.S. spent USD 280 billion on oil and gas, which was slightly below the global average. These investments holds a crucial part in the growing demand for the wire and cable across the North America.
   
• The ongoing advancement in technologies also plays crucial role in the North America wire and cable industry. The adoption of smart grids and IoT technology is leading to the use of advanced wiring systems for efficient data transmission. This necessity will create a strong platform for wire and cable industry to grow in the North America.
   

North America Wire and Cable Market Share

Top 4 companies including Prysmian, Belden, Nexans, LS Cables hold more than 40% market around the world. Not only the research and development aspect but even innovation with respect to wire and cable solutions is taken care of by the fore leaders of businesses. They foster a global presence, extensive engineering and agile marketing skills which result in a wide penetration of their substations across target markets.
 

• Prysmian: In March 2022, Prysmian group was awarded a contract for the AP&T Company to supply, test and install two submarine cable links across south-east Alaska. The SEA Link project was initiated to enhance communications across southeast Alaska by delivering broadband to the currently underserved rural areas.
   
• Elsewedy Electric: In January 2022, Elsewedy Electric signed a new contract with the Public Authority for Housing Welfare in Kuwait, which was worth over USD 28 million, to facilitate power transmission for El Mutlaa Residential City. According to the contract, the project will be implemented on a turnkey basis in over eighteen months, and the company will offer its expertise on the design, supply, and installation of works with regards to 132kV ground cables.
   

North America Wire and Cable Market Companies

Major players operating in the wire and cable industry are:

• Belden
• Elsewedy Electric
• Fujikura Ltd.
• Havells
• KEI Industries
• LS Cables Systems
• Nexans
• NKT A/S
• Polycab
• Prysmian Group
• Southwire Company
• Sumitomo Electric Industries, Ltd.
• ZTT
   

North America Wire and Cable Industry News

• The Italy-based Prysmian Group has finalized the purchase of the American Company Encore Wire and consolidated its hold in the expanding North American region. Prysmian issued cash for the purchase of all shares at Encore Wire’s common stock for USD 290 per share. The acquisition greatly amplifies Ensemble’s competitive advantage as well helps cross-selling opportunities, as well as increasing efficiency, creativity, and service levels in Encore Wire’s production and distribution phases. The undertaking additionally increases the significance of the North American region within the scope of operations of Prysmian.
   
• In April 2023, Nexans acquired Reka Cables, aligning with Nexans' strategic objective of becoming a leading player in electrification and advancing efforts towards carbon neutrality. Reka Cables, headquartered in Finland, specializes in producing top-tier, low and medium voltage cables and operated as a subsidiary of Reka Industrial before the acquisition.
   
• In May 2023, LibanCables, a subsidiary of Nexans, unveiled that it has expanded its solar system at its industrial site in Nahr Ibrahim. This expansion yields a peak output power of 1.2 MW, featuring a groundbreaking 500 kW battery solution. Through this initiative, LibanCables is poised to significantly reduce greenhouse gas emissions by 1,500 tons per year.
   
• In April 2024, Finolex Cables introduced a series of eco-safe wires under the FinoGreen brand, which is expected to comprise about 5% of the company’s wire business. The new FinoGreen line features flame-retardant and halogen-free industrial cables specifically designed to reduce safety risks in electrical installations and prevent accidents, particularly fires.
   

North America wire and cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2034, for the following segments:

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Market, By Product

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

Market, By Voltage

• Low
• Medium
• High

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:

• U.S.
• Canada
• Mexico