Wire and Cable Market Size, 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), COVID-19 Impact Analysis, Regional Outlook, Competitive Market Share & Forecast, 2022 – 2030

Industry Trends

Wire and Cable Market size was over USD 198 billion in 2021 and is poised to grow at over 8% CAGR between 2022 and 2030. Favorable consumer inclinations toward deploying flexible and fire-resistant wires & cables to safeguard the living environment along with extended life expectancy will fuel the market expansion.
 

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Growing inclination toward the enhancement & replacement of the existing electric infrastructure across economies has instituted a favorable growth scenario for wire and cable market. Rising concerns associated with electrical supply faults, fires, health, and other operational hazards will stimulate product deployment. Moreover, the flourishing consumer electronics sector in line with an expanding grid infrastructure will augment the industry outlook. Increasing investments in R&D to enhance the product portfolio by various manufacturers will further propel the market growth.
 

The pandemic outbreak slightly impacted the wire and cable market revenue. The development of utility-scale projects and sustainable energy witnessed a slight delay on account of lockdown impositions and supply chain disruptions; however, the power and telecom sector were operational during the COVID-19 pandemic for the maintenance of electrical infrastructure. In addition, the growing demand for replacing & refurbishing aging grid infrastructure coupled with ongoing building infrastructure constructions will complement the market outlook.
 

Growing requirement for reliable & uninterrupted power will foster the wire and cable market demand

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The power cables segment is anticipated to witness substantial growth during the forecast period, owing to their large-scale applications across comparatively low-rated capacity networks. Moreover, government focus on the advancement of existing transmission capacities on account increased sustainable & energy-efficient component deployments will drive the product demand. In addition, shifting regulatory inclinations toward the replacement of traditional power generating units with high-capacity clean energy sources coupled with rapid infrastructure development will propel the market demand across the globe.
 

Growing inclination of utilities in expanding & upgrading existing grid networks

The low-voltage wire and cable market will experience growth of 8% till 2030. Wide applicability across consumer electronics, communication, automotive, and other secondary power distribution applications has driven the market growth. In addition, availability in a large variety along with a range of up to 1,000 V will encourage product adoption. Furthermore, the growing demand for efficient, continuous, and affordable electricity supply along with the booming communication and electronics industry will positively sway the market size.
 

Shifting focus toward upgrading & enhancing conventional transmission and distribution networks

The utility-based application of the wire and cable market is set to account for more than USD 111 billion by 2030. Ongoing infrastructure & development projects along with government focus on enhancing the existing T&D infrastructure will impel the product deployment. For instance, in January 2022, Prysmian Group secured a HVDC submarine cable project by Samsung C&T to deliver power cables. The project comprises the design, accessory assembling, supply, site acceptance, and testing of 320 kV HVDC single-core cables equipped with XLPE insulation. Through this submarine cable project, the Al Mirfa converter station will connect to Al Ghallan, an artificial offshore island in the Arabian Gulf and located in the UAE.
 

Government initiatives for the electrification of remote & rural areas will boost the APAC market expansion

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The Asia Pacific wire and cable market is predicted to register around 9% growth rate through 2030. Rising electricity demand owing to increasing population and rapid industrialization will surge the industry growth across Asia Pacific. Robust development of the manufacturing and service sector industries along with low-cost work force availability will complement the market revenue growth.
 

Regulatory focus to provide reliable & uninterrupted power to large consumer bases coupled with government initiatives for rural electrification will further drive the industry size. Moreover, increasing disposable incomes in line with improving living standards will augment the demand for various consumer electronic products, thereby stimulating wire & cable applications.
 

Strategic implications including agreements and partnerships will positively sway the market presence of key players

Eminent players operating across the wire and cable market include Prysmian Group, Riyadh Cable Group, Elsewedy Electric, Ducab, Power Plus Cables Co. L.L.C., HELUKABEL MiddleEast, Sumitomo Electric Industries, Ltd., Brugg Cable, Belden Inc., Saudi Cable Company, Nexans, Federal Cables, Bahra Cables, alfanar Group, Naficon, Midal Cables Ltd., Jeddah Cables, Oman Cables Industry SAOG, ZTT, KEI Industries Limited, NKT A/S, Fujikura Limited, and Ningbo Orient Wires & Cables Co.
 

Inorganic growth ventures along with agreements, mergers, and contracts among eminent players across the industry will propel the business spectrum. For instance, in January 2022, Elsewedy Electric signed a new contract worth over USD 28 million with the Public Authority for Housing Welfare in Kuwait to facilitate power transmission for the 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 regard to 132kV ground cables.
 

The wire and cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2022 to 2030 for the following segments:

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 regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Netherlands
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Belgium
  • Germany
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Philippines
  • New Zealand
  • Malaysia
  • Thailand
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Iraq
  • Kuwait
  • Qatar
  • South Africa
  • Egypt
  • Nigeria
• Latin America
  • Brazil
  • Argentina
  • Peru