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North America Wire and Cable Market Size

Report ID: GMI4841
Published Date: May 2023
Report Format: PDF

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North America Wire and Cable Market Size

North America wire and cable market was valued at USD 33.7 billion in 2023 and is anticipated to grow at a 5.8% CAGR between 2024 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.

North America Wire and Cable Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Wire and Cable Market Size in 2023 :	USD 33.7 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.8%
2032 Value Projection:	USD 57.2 Billion
Historical Data for:	2019 to 2023
No. of Pages:	120
Tables, Charts & Figures:	112
Segments covered:	Product, Voltage, Application
Growth Drivers:	Flourishing telecom and internet industry Adoption of smart grid network Growing infrastructure investments
Pitfalls & Challenges:	High import dependency

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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.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of North America wire and cable exceeded USD 33.7 billion in 2023 and will progress at a 5.8% CAGR between 2024 and 2032 propelled by the increase in infrastructure and development projects as well as the growing demand for consumer electronic products.

The power cable segment accounted for USD 15.4 billion in 2022 and is likely to progress at more than 5.5% CAGR through 2032 as a result of supportive government initiatives aimed at improving transmission capacities through the adoption of sustainable and energy-efficient components.

North America wire and cable market size from the utility application segment is poised to surpass USD 15 billion by 2032 owing to increasing emphasis on upgrading and modernizing utility infrastructure to ensure efficient and reliable transmission and distribution of electricity.

The U.S. wire and cable industry is projected to depict over 5.5% CAGR from 2023 to 2032, attributed to growing electricity demand, coupled with the inadequacy of the existing grid infrastructure, in the country.