Commercial Wire and Cable Market Size - By Product, By Voltage, By Application, Analysis, Share, & Forecast, 2025 - 2034

Commercial Wire and Cable Market Size

The global commercial wire and cable market was valued at USD 100.7 billion in 2024 and is estimated to reach the value of USD 211.9 billion by 2034, growing at a CAGR of 7.4% from 2025 to 2034. Driven by the rising commercialization across the world, creating a strong need for commercial wire and cable in coming years.
 

Telecommunication makes an immense contribution toward the expansion of the market by the increased use of broadband, 5G networks, and fiber optic cables. Investment in infrastructure renewal along with the replacement of existing network systems is increasing, and therefore the need for advanced data transmission and networking cables is on the rise.
 

An increase in the attention given to clean energy is set to increase infrastructural spending that would increase the demand for commercial cables and wires because there would be a need to use it in renewable energy undertakings.  The International Energy Agency reported, in 2023, that there will be an addition of more than 5,500 gigawatts of renewable capacity globally by the year 2030, thereby growing the commercial wire and cable market on a large scale.
 

The global adoption of 5G technology is creating a demand for fiber-optic and copper cables with high precision. The new technology comes with promises of increased data traffic and high-speed connections which other industries are pitching in to support. Telecom and data center companies are spending a lot to improve their infrastructure and can install thousands of miles of specialized cabling systems that support high-speed, high-bandwidth, and low latency services.
 

Commercial Wire and Cable Market Trends

• The integration of smart technology into cables is another significant trend. Their sensors facilitate real time monitoring of performance, temperature and faults which makes the so called “smart cables” unique. This is especially useful in aerospace, automotive and energy industries where cable reliability and condition is crucial.
   
• The increasing use of electric vehicles (EVs) is propelling the demand for high voltage specialty cables for charging and battery system interfaces. Global sales of EVs topped 17.1 million in 2024, a 25% increase from 11.2 million in 2023. This shows the positive growth for the international wire and cable industry.
   
• Due to the rising concern towards the environment, there has been an increased interest in sustainable and organic cable products. Cables with non and less toxic materials, such as halogen and low smoke as well as lead free options, cables are being produced. Further, the development of energy efficient cables which reduces the carbon emission during manufacturing is becoming one of the key market trends.
   
• The world’s commercial wire and cable demand is growing rapidly due to the adoption of solar and wind energy. Efficient cabling for power transmission is needed on a global scale for the vast renewable projects countries are investing in. From August to December of 2024, the United States alone is estimated to increase its solar power capacity by 30%, bringing the total capacity to an astounding 131 GW.
   
• As technology improves, fiber optic cables are set to replace copper cables in telecom and data sectors. The lower level of interference, higher range of data transmission speed and greater bandwidth makes it ideal for modern infrastructure. Fiber optic cables are being deployed for both commercial and residential purposes by companies and governments that are investing in high-speed internet connections.
   

Commercial Wire and Cable Market Analysis

• The commercial wire and cable industry was valued at USD 81 billion, USD 90.2 billion and USD 100.7 billion in 2022, 2023 and 2024 respectively. This development is mainly driven by the growing multiple end use industries across the world. The growing commercialization is significantly becoming a strong platform for the growth of commercial wire and cable market in coming years.
   
• Based on product, the coaxial cable segment is anticipated to reach up to more than USD 71.3 billion by 2034, due to the rising commercial activities across the world. In February 2025, BHP Group issued bonds in the US and raised 3 billion dollars in February 2025. The bonds were issued for corporation purposes.
   
• The fiber optics cable segment is also expected to cross more than USD 40 billion by 2034, due to growing demand for the telecommunication industry as well as commercial sectors that are dependent on relaying of signals, supervision of systems. Over the past decade, the telecommunications sector has invested an average of USD 50 billion per year in order to modernize and adapt network, rising the application for the commercial wire and cable market across the world.
   
• The companies in this industry are also investing massive amounts expand their business, creating a strong platform for the market in coming decades. The European Investment Bank (EIB) and Prysmian, in the power and telecom cables sector, have signed a new, USD 450 million finance contract to facilitate electricity transmission and distribution in Europe.
   
• Signal and control cables play a crucial role in the commercial wire and cable industry, offering vital functions across various industries. These cables are important for sending electrical signals and controlling systems in an application’s environment where precision, reliability, and efficiency are vital. Their relevance is further increased owing to the rapid technological changes and the need for automation, safety, and integration in industries such as manufacturing, telecommunications, transport, and energy.
   

• In the commercial wire and cable market, based on voltage, the low voltage segment is anticipated to grow with CAGR of more than 7.5% by 2034 and will be further projected to grow in the coming years. This growth will continue to happen due to growing demand for the wire and cable in infrastructure industry. In 2023, China alone invested approximately USD 59 billion in electric power grid construction projects.
   
• The medium voltage segment is projected to hit USD 125 billion by 2034. The rising commercial activities including building, offices, hospitals and other facilities are tremendously growing across the world. In 2023, it was noted that there were more than 919,000 construction establishments in the U.S. in the 1st quarter of 2023.
   
• These segments hold the importance with the rising consumption of energy globally. Projects in this area are increasing rapidly all over the world. In 2024 the European Commission funded 85 climate projects with a total of USD 4.8 billion dollars in an attempt to further the process of decarbonization in Europe.
   
• The communication cables are critical in providing broadband penetration and high-speed data transmission services across continents to satisfy the ever-growing insatiable demand. India is the world's second-largest telecommunications market with a total telephone subscriber base stood at 1,203.69 million, making it the crucial region for the market growth.
   
• This industry will be aided further as number of companies are reportedly making significant investments in those sectors. The construction industry is extremely crucial for the business growth. The total volume of commercial real estate investments (retail, office and industrial) in Europe reached around USD 280 billion till the beginning of 2023.
   

• The U.S. commercial wire and cable market in 2022, 2023 and 2024 was valued at USD 10.24 billion, USD 11.42 billion and USD 12.77 billion respectively. The U.S. is investing significant amount in the electrical infrastructure, helping the  market to grow in coming years. In 2022, the U.S. invested about USD 89 billion in electricity networks, the highest amount in years.
   
• The North America is stepping ahead in the utilization of renewable energy, growing the demand for commercial wire and cable market. The IEA projects that over 6,000 GW of new renewable electricity generation will be required by 2040 to address increasing global net zero commitments This rising need will further create the necessity of extensive wiring and cable, thereby boosting the market.
   
• The automotive sector (specially EV) also plays a vital role in the rising demand for commercial wire and cable since it is highly growing due to rising preference for the EV. The Bipartisan Infrastructure Law invests USD 7.5 billion to build out the first-ever national network of EV chargers in the United States.
   
• The APAC region is also experiencing a noteworthy rise in industrialization, thus increasing the need for wire and cables. In 2023, the Asia Pacific’s real GDP amounted to USD 56.6 trillion, constituting 61% of the globe's total. In this year Asia Pacific region exported USD 11.7 trillion worth of merchandise goods, and USD 2.7 trillion worth of commercial services.
   
• India is also progressing along with the multiple ongoing projects and investments. In 2024, It is taking massive efforts in constructing multiple electrical infrastructure projects. These projects will create a need for the wire and cable, thereby raising the demand for commercial wire and cable across the Asia Pacific.
   

Commercial Wire and Cable Market Share

Top 4 companies including Prysmian, Belden, Nexans, Sumitomo Electric hold more than 40% market around the world. The major companies consistently work on new products and solutions which makes them a crucial part of the industry globally. These companies place a high focus on investment, especially on research and development. Besides, these companies apply different methods of market development in order to obtain considerable shares in the industry.
 

Commercial Wire and Cable Market Companies

• Sumitomo Electric Industries focuses on high voltage electricity transmission and fiber optic networks due to the key strength provided by his global manufacturing units and research units. In May 2024, Sumitomo Electric began construction of a new factory for subsea cables in Scotland to support the Shetland 2 525kV HVDC cable project for SSEN Transmission.
   
• Belden provides signal and power transmission cables for industrial applications. Its industrial automation and cybersecurity capabilities enhance network connectivity. In November 2023, Belden launched solutions like FX ECX Wall-Mount Fiber Enclosures and M12 Power Cordsets, along with updates to Hirschmann SPIDER III and Lumberg Automation LioN-X IO-Link Master.
   
• In January 2023, Nexans has teamed up with TriMet on a project to co-develop a tooling material made from recycled aluminum for producing rods for cables. The collaboration aims to reduce carbon emissions while ensuring the product meets the necessary technical standards for mechanical properties and conductivity.
   

Commercial Wire and Cable Market Companies

Major players operating in the commercial wire and cable industry are:

• Bergen Cable Technology
• Belden Inc.
• FURUKAWA ELECTRIC CO., LTD.
• Havell India Ltd.
• KEI Industries Limited
• Klaus Faber AG
• LS Cables
• Leoni Cables
• NKT A/S
• Polycab
• Prysmian Group
• RR Kabel
• Riyadh Cables
• Sumitomo Electric Industries, Ltd.
• Southwire Company LLC
• Top Cables
• Thermo Cables
• ZM Cables
   

Commercial Wire and Cable Industry News

• In May 2023, Nexans’ subsidiary LibanCables announced that it has upgraded the solar system at its industrial facility located in Nahr Ibrahim. Developed with an unrivaled 500 kW battery, this extension produces an exceptional 1.2 MW. Accomplishing this enables LibanCables to reduce greenhouse gases by 1,500 tons per year.
   
• In 2023 January, Nexans had the sales of approximately USD 6.8 billion, significantly influencing the commercial wire and cable sector. Nexans joined Authentic Vision in fighting cable counterfeiting through the adoption of Meta-Anchor technology, showing the industry’s fidelity towards product verification and supply chain security.
   
• In February 2023, the U.S. Department of Energy announced USD 48 million in funding to support a new program focused on developing power grid technologies that improve control and protection of the domestic power grid. This initiative aligns with broader goals to accelerate renewable energy deployment and achieve 100% clean electricity by 2035.
   

This commercial 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
• Signal & Control Cable
• Telecom & Data Cables
• Others

Market, By Voltage

• Low Voltage
• Medium Voltage

Market, By Application

• Material Handling/Logistics
• Entertainment/Leisure
• 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
  • Germany
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Argentina
  • Peru