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, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Wire and Cable Market size exceeded USD 200 billion in 2019 and is projected to witness over 6% CAGR through 2026. Growing investments towards the establishment of manufacturing plants and rapidly growing building infrastructures will fuel the market demand of wires and cables. The power cable segment holds majority share of the overall market in 2019.
 

Wire and cable market are anticipated to grow on account of rising demand for electronic products with efficient and smart data transmission systems. Wires and cables are deployed across extensive range of applications which include consumer electronics, utilities, material handling, automotive, and entertainment/leisure amongst others. Growing inclination toward the expansion of prevailing grid network coupled with lack of efficient electric infrastructure will propel the industry outlook over the forecast timeline.
 

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Favorable government policies in telecom industry have further created an intense market competition, which has substantially created a positive business scenario for wire and cable manufacturers. Rising consumer base with a thriving service sector industry will considerably drive the demand for high-speed data services, thereby propelling the market demand.
 

However, since the start of FY 2020, the whole world has taken a major economic hit on account of COVID-19. Pandemic. The large-scale temporary lockdown has resulted in shutdown of various infrastructure projects and commercial activities, which has directly affected the wire and cable market outlook. In addition, the lack of availability of manpower coupled with lower deployment of wires and cables across industries and commercial establishments is adversely affecting the wire and cable industry growth in 2020. However, despite of the major economic slowdown, the industry is expected to recover by late 2020, as the momentary shutdown of the projects recommences after the lockdown is lifted.
 

Growing electricity demand coupled with need for reliable T&D infrastructure to boost power cable installations

The power cable segment of wire and cable market is expected to witness more than 6% CAGR between 2020 and 2026. Enhanced power factor and low dielectric constant are the crucial features driving the market share of these products. These are mainly installed across the electric circuits to distribute power to the systems along with sustaining an uninterrupted power supply network. Moreover, the mounting demand for a reliable power supply has been a foremost concern for both industrial and utility sectors to effectively run operations which will further stimulate the market demand of power cables.
 

Growing demand for bulk electricity transmission over long distances to drive high voltage wire and cable market forecasts

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Rising offshore wind projects, grid connections and high voltage direct current links are projected to boost the product demand. Rapidly growing urban population coupled with robust electricity demand have compelled the manufacturers to undergo numerous innovations in high voltage wire and cable. In the recent years, increasing investments in the development of sustainable energy generation projects have raised the market demand for HV cables.
 

Growing preference toward personal mobility coupled with rising penetration of EVs will enhance the market statistic across automotive segment

Automotive segment in 2019, accounted for over 9% of the market share across the global wire and cable industry. Growing focus toward the adoption of clean vehicles including HEVs and BEVs will substantially stimulate the wire & cable demand. Moreover, the soaring requirement for commercial vehicles across e-commerce and other logistics industries will further propel the wire and cable market trends.
 

Government efforts toward introduction of sustainable electricity generation technologies will drive the European wire and cable market demand

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Europe accounted for over 14% of the total market share in 2019. The strong inclination towards the adoption of sustainable and advanced electricity generation and supply technologies will proliferate the demand of wires and cables. The country is also witnessing significant investments in service and manufacturing division, which will augment the demand for various categories of cables. Moreover, aggressive investments toward the expansion of T&D corridors for reliable and efficient power transmission for longer distances will further fuel the wire and cable market share across the region.
 

New product innovations strategy acting as the pivotal point for key market players

The eminent market players are mainly focusing on developing innovative products with upgraded features to boost their market share across wire and cable industry. In addition, long term agreement is the key strategy implemented by the top industry players to gain a competitive edge in the market. Furthermore, prominent market participants are aiming towards backward & forward integration by manufacturing wire and cable components to attain economies of scale and proliferate their market penetration.
 

The major players profiled in the global wire and cable market report include Hexatronic Cables & Interconnect Systems, Prysmian Group, Kabelwerk Eupen AG, Nexans, Sumitomo Electric Industries Limited, Saudi Cable Company, Oman Cables Industry SAOG, Finolex Cables Ltd. amongst others.
 

Wire and cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Tonnes” and “USD” from 2015 to 2026, for the following segments:

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
• Others

The above information has been provided for the following 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
  • Qatar
  • Kuwait
  • Turkey
  • South Africa
  • Egypt
  • Nigeria
• Latin America
  • Brazil
  • Argentina
  • Peru