Commercial Wire and Cable Market - By Product (Coaxial Cables/Electronic Wires, Fiber Optics Cable, Signal & Control Cable, Telecom & Data Cable), By Voltage (Low, Medium), By Application & Forecast, 2024 - 2032

Commercial Wire and Cable Market Size

Commercial Wire and Cable Market Size in 2023 was valued at USD 90.2 billion and is anticipated to grow at a CAGR of 8.2% between 2024 and 2032. Rapid urbanization and industrialization are increasing the demand for infrastructure development, including commercial buildings, manufacturing facilities, and data centers. These developments necessitate the installation of extensive electrical and communication networks, thus boosting the demand for wire and cable products.
 

For instance, according to the National Bureau of Statistics of China, in April 2023, the business volume of the telecommunications industry in China reached approximately USD 21.63 trillion, marking an 18% increase compared to its previous year. This significant rise in telecom business volume is expected to incentivize telecom companies to expand their infrastructure by erecting new telecom towers, thereby fueling the demand for products within the wire and cable market.
 

Additionally, the growing focus on renewable energy sources such as wind and solar power is fueling investments in energy infrastructure, further driving demand for specialized cables. Furthermore, stringent regulations and standards governing safety and energy efficiency are prompting businesses to invest in high-quality and compliant wiring solutions. The rising adoption of electric vehicles and smart home technologies is creating new avenues for wire and cable manufacturers. As a result, the commercial wire and cable market is projected to witness sustained growth in the coming years, with opportunities for innovation and expansion across various industries.
 

Commercial Wire and Cable Market Trends

Sustainability and environmental responsibility are driving demand for eco-friendly materials and manufacturing processes. It includes the development of cables with reduced environmental impact, such as those made from recycled materials or designed for energy efficiency. Growing preference for fire-resistant and low-smoke, zero-halogen (LSZH) cables, with the increased awareness of safety standards and regulations, will also drive the demand of wire and cable in commercial sector.
 

The integration of advanced technologies such as IoT and automation are driving the demand for specialized cables capable of transmitting large volumes of data reliably and securely. Furthermore, the advent of 5G networks will also create opportunities for manufacturers to develop cables optimized for the demands of next-generation wireless communication, such as ultra-low latency and high reliability.
 

Commercial Wire and Cable Analysis

The coaxial/electronics segment is anticipated to exceed USD 64.2 billion by 2032 due to the increasing adoption of electronic devices and appliances across various industries. The growing demand for high-quality electronic wires are expanding the telecommunications sector and the proliferation of data-intensive applications, thereby driving the demand for specialized cables capable of high-speed data transmission. Furthermore, the rise of smart infrastructure projects and IoT will also fuel the need for reliable signal and control cables to connect sensors, actuators, and other IoT devices.
 

Based on Voltage, the commercial wire and cable market is categorized into low, medium. The medium voltage segment will grow with CAGR of more than 7.9% through 2032 due to the rising demand for infrastructure development and electrification projects in urban and rural areas. As governments and industries invest in upgrading and expanding their electrical grids, there is a corresponding need for both low and medium voltage cables to transmit power efficiently and safely. Furthermore, the electrification of transportation, including the adoption of electric vehicles and charging infrastructure, is expected to further boost the demand for medium voltage cables in the commercial sector.
 

Asia Pacific region holds significant share in the commercial wire and cable market, poised to surpass USD 83.5 billion by 2032. China, with its rapid industrialization and urbanization, is driving substantial demand for wiring solutions, while India's ongoing initiatives like "Make in India" will contribute significantly to the market growth. Similarly, technological advancements and focus on energy efficiency in Japan and Australia will also create demand for innovative wiring solutions. Additionally, South Korea's strong electronics manufacturing sector will further propel demand for specialized cables in Asia Pacific.
 

The U.S. holds significant position in the commercial wire and cable industry due to its robust industrial and commercial sectors. The U.S. relies heavily on reliable electrical and communication networks to support its growing economy. Additionally, the country's technological innovation and research and development capabilities ensure the continuous advancement of wiring technologies to meet evolving industry standards and consumer demands.
 

Commercial Wire and Cable Market Share

Prysmian Group and Belden Inc. are integral players in the commercial wire and cable industry, renowned for their expertise, innovation, and global presence. Their diverse portfolio and commitment to sustainability drive its leadership in cable manufacturing across energy, telecommunications, and infrastructure sectors.
 

Commercial Wire and Cable Market Companies

• alfanar Group
• Brugg Kabel AG
• Belden
• Dewey Electric
• Fujikura Ltd.
• Federal Cables
• HELUKABEL MiddleEast
• KEI Industries Limited
• Jeddah Cables
• Midal Cables Ltd.
• NKT A/S
• Nexans
• Naficon
• NIBE Industrier AB
• Power Plus Cables Co. L.L.C.
• Prysmian Group
• Polycab
• Riyadh Cables
• Sumitomo Electric Industries, Ltd.
• Southwire Cable
• ZTT
   

Commercial Wire and Cable Industry News

• In April 2023, Nexans acquired Reka Cables, aligning with Nexans' strategic objective of becoming a leading player in electrification and advancing efforts towards carbon neutrality. Reka Cables, headquartered in Finland, specializes in producing top-tier, low and medium voltage cables and operated as a subsidiary of Reka Industrial before the acquisition.
   
• In May 2023, LibanCables, a subsidiary of Nexans, unveiled that it has expanded its solar system at its industrial site in Nahr Ibrahim. This expansion yields a peak output power of 1.2 MW, featuring a groundbreaking 500 kW battery solution. Through this initiative, LibanCables is poised to significantly reduce greenhouse gas emissions by 1,500 tons per year.
   

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 2032, for the following segments:

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Market, By Product

• Coaxial Cables/Electronic Wires
• Fiber Optics Cable
• Signal & Control Cable
• Telecom & Data Cable
• Others

Market, By Voltage

• Low
• Medium

  Market, By Application

• Material Handling/Logistics
• Entertainment/Leisure
• Consumer Electronics
• Building Infrastructure
• Others

The above information has been provided for the following countries across the regions:

• 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
  • Iraq
  • Kuwait
  • Qatar
  • Egypt
  • South Africa
• Latin America
  • Brazil
  • Argentina
  • Peru