North America Wire and Cable Market Size By Product (Coaxial Cable/Electronic Wire, Fiber Optics Cable, 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), Industry Analysis Report, Country Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

North America Wire and Cable Market size exceeded USD 27 billion in 2020 and is set to grow at a CAGR of over 6% between 2021 and 2027. Wires and cables are primarily used for applications including electricity transfer, mechanical load bearing, and telecommunication signal transmission across various industries including food & beverage, automotive, material handling, railways, utilities, and building infrastructure. The extensive deployment of wires and cables to enhance the existing grid network will further fuel the industry potential.
 

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The rapidly expanding communication industry coupled with increasing investments in modernization & replacement of old grid infrastructures will stimulate industry growth. The paradigm shift for integration of renewable energy sources with smart grid structures will foster the business outlook. In addition, rising declining capital cost, electricity prices, and beneficial government norms owing to the ongoing technological developments will positively influence the industry spectrum.
 

Favorable government policies & norms along with ongoing technological advancements will fuel the product demand

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North America wire and cable market from power cable segment is anticipated to register over 6% CAGR through 2027. Increasing applicability across civil, infrastructure and communication sectors for bulk transmission will propel the industry statistics. Moreover, the growing demand for a continuous & reliable power supply coupled with increasing industrial growth will foster product demand. Ongoing technological advancements coupled with the growing expansion of smart grid infrastructures will positively sway the product adoption.
 

Increasing concerns toward decreasing wire maintenance cost along with higher bandwidth capabilities will energize the fiber optics cable segment demand. The ongoing adoption of microgrid networks in line with the increasing adoption of 5G network will complement the product demand. The wide scale utilization of these cables for longer transmission distance along with high reliability & minimal energy loss will further stimulate the industry landscape.
 

Increasing electricity demand across commercial & industrial sectors will sway the product adoption

North America wire and cable market from low voltage segment is anticipated to surpass USD 26 billion by 2027 on account of its extensive use for secondary power transmission & distribution across residential, commercial, and industrial applications. Wires and cables ranging from 50 V to 1,000 V find substantial applications in low voltage (LV) transmission including outdoor ground lighting, household, and automobile batteries. Additionally, the use of the product in a wide array of applications including computer networking, security cameras, and TV & satellite aerial feeds will increase the product demand in commercial applications.
 

Power distribution between high voltage mains power supply & low voltage applications is expected to drive the high voltage segment expansion. The increasing electricity demand across industrial, commercial & utility sectors in line with modernization of existing electric grid infrastructure will favor the business scenario. Furthermore, the extensive private and public investments to uplift the renewable energy sources including solar and wind will accelerate the product adoption.
 

The swift implementation of smart energy networks along with increasing distributed energy generation demand will propel the product deployment

The utilities segment in 2020 accounted for over 26% of the business share across the North America wire and cable market. This growth can be attributed to the product application for on-site power generation and smart control networking. The rising emphasis on the integration of wide-ranging frequency distribution links along with surging concerns toward energy efficiency will further facilitate the product penetration.
 

The increasing proportion of renewable energy plants along with the flourishing manufacturing & industrial sector will propel the business prospects. The increasing development of the consumer electronic industry owing to the rising dependence on advanced systems will further boost industry growth.
 

Government mandates for restarting industrial operations after pandemic outbreak are propelling the business outlook

The pandemic has significantly affected the overall business potential. Supply-chain disruptions, lockdown, and decline in demand further declined the industry growth in 2020. However, ongoing measures by the government and industries to continue manufacturing, construction, and infrastructure development businesses along with players adopting innovative & practical methods to deploy staff in order to meet their production demands will sway the industry size.
 

The rising focus on over-compensating the impacts of COVID- 19 in the region by advancing the operations coupled with stabilizing the economy through various public & private funding will further complement the business landscape. Moreover, the ongoing crisis will eventually strengthen the wire and cable demand over the forecast timeline owing to upsurge in new building construction for healthcare and pharmaceutical application industries.
 

Ongoing refurbishment & introduction of smart grid infrastructure will boost the product demand

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North America wire and cable market from building infrastructure application is anticipated to grow at a CAGR of over 6% in the coming years on account of rising public investments in rebuilding and construction of new buildings. For instance, in 2021, the U.S. government announced to invest USD 2 trillion for a period of ten years to rebuild the country’s infrastructure. The government spending covers a wide array of physical infrastructural projects including the electric grid, housing, transportation, and broadband. Surging infrastructural investments coupled with ongoing renovation of traditional buildings will further energize the industry dynamics.
 

U.S. held over 75% of the market revenue share in 2020. The rapid development in service & manufacturing sectors coupled with the adoption of smart technologies including the implementation of Artificial Intelligence is proliferating the technological demand. In addition, government initiatives toward the development of a new system with secured and high-speed data storage capacity will positively impact the business scenario.
 

Ongoing collaborations, strategic partnerships, and agreements will improve the industry presence of various players

Strategic implications, organic growth ventures and mergers among leading players will propel the industry outlook. For instance, in February 2020, SAB North America launched SABmed line series of cables that are highly flexible and biocompatible cable solutions for medical devices. These cables can withstand high temperature, moisture, and rough handling. This launch enabled the company to strengthen its market presence, and the development of these cables has provided an opportunity for the company to gain a competitive advantage over its competitors. These strategic initiatives along with other growth contributing factors are anticipated to drive the industry trend.
 

The eminent players operating in the North America wire and cable industry include Commscope, Nexans, LAPP North America, Southwire Company, Elsewedy Electric, LS Cable & System, Furukawa Electric, Belden, igus GmbH, Jave Yuan Electric Wire, HELUKABEL GmbH, SAB North America, Prysmian Group, Friedrich Lütze GmbH, Condumex Group, Viakon, TPC Wire & Cable Corp, Shawcor, DECA CABLES, and Polycab India Limited.
 

North America wire and cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘USD’ from 2017 to 2027 for the following segments:

By Product

• Coaxial Cable/Electronic Wire
• Fiber Optics Cable
• Power Cable
• Signal and Control Cable
• Telecom and Data Cable

By Voltage

• Low
• Medium
• High

By Application

• Food & Beverage
• Automotive
• Material Handling/Logistics
• Entertainment/Leisure
• Utilities
• Railways
• Consumer Electronics
• Building Infrastructure
• Others

The above information has been provided for the following country:

• North America
  • U.S
  • Canada
  • Mexico