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

Europe Wire and Cable Market Size

The Europe wire and cable market was USD 36.3 billion in 2024 and is expected to reach USD 61.6 billion by 2034, growing at a CAGR of 5.2% by 2034. The demand for advanced wire and cable solutions has risen due to increased investments on electricity transmission and distribution infrastructure across Europe. Apart from aiding the dependability of the network, these systems also reduce the amount of power loss during transmission within cities and the countryside. According to the European Commission, the EU allocated approximately USD 5.4 billion in 2023 for electricity grid modernization projects.
 

With the rise of industrial automation and digitization, there's a surging demand for premium power and data cables. As industries embrace 4.0, IoT, and robotics, the need for dependable connectivity in smart factories, logistics, and commercial spaces intensifies.  In 2023, the Federal Ministry for Economic Affairs and Climate Action of Germany noted a spending of USD 3.2 billion to foster Industry 4.0 programs.
 

The effort to electrify their railways and metros in Europe is increasing the region's need for specialized wire and cable products. Safe, reliable and power-efficient public transportation heavily depends upon the support of power, signal, and high voltage cables. The European Investment Bank provided USD 2.7 billion for railway electrification in the region in 2023.
 

The European region has been reporting an increasing demand for fire-resistant, low smoke, halogen-free cables, as stringent fire safety regulations and building codes are reinforced. These strategies intended towards enhancing safety parameters also minimize fire hazard with detrimental emissions in high risk populated regions. For instance, the UK government earmarked USD 1.5 billion in 2023 to deal with the fire protection modernization of the public buildings and other structural facilities.
 

Europe Wire and Cable Market Trends

• Offshore wind and solar farms are emerging as major contributors to the growing need for wires and cables within Europe. This growth is intertwined with governments and utility companies expanding investments in the upgrade of power networks which increases the demand for advanced high-voltage and submarine cables. The European Commission reported that the region spent USD 44 billion in 2022 on renewable energy technologies to speed up the energy transition.
   
• The growing popularity of electric vehicles (EVs) is increasing the need for specialized cabling in the automotive industry and in the new charging infrastructure. European governments are improving the EV charging networks, and there is an urgent requirement for strong, heat-resistant cables, particularly for fast-charging stations. The European Alternative Fuels Observatory reported that more than 500,000 public EV charging stations are intended to be built across Europe by 2025 to foster increased adoption of EVs.
   
• The need for smart City’s along with Europe’s rapid Urbanization is increasing demand for power and fiber optic cables. This demand is also aided by the intelligent transportation systems and expanding 5G networks powering the construction of energy efficient building which require robust electrical and high speed data connections. The European Investment Bank stated that USD 2.7 billion was allocated in 2023 to support digital infrastructure projects, including 5G deployment.
   
• In Europe, stringent environmental regulations and a strong push for sustainability are transforming the wire and cable industry landscape. As per EU regulations, companies are developing cables that are recyclable, halogen-free, and environmentally friendly. The European Circular Economy Action Plan pointed out that investments exceeding USD 10.6 billion are allocated each year towards circular economy projects for waste reduction and sustainable development.
   

Europe Wire and Cable Market Analysis

• The Europe wire and cable industry was valued at USD 30.9 billion, USD 33.5 billion and USD 36.3 billion in 2022, 2023 and 2024 respectively. Based on voltage rating, the market is segmented in medium, high and low voltages. The low-voltage category is expanding as a result of greater adoption of IoT devices into smart homes, which increases demand for residential and commercial wiring.
   
• The growing adoption of solar panels in residential buildings further boosts the need for low-voltage cables for use in homes and small businesses. In March 2024, the European Commission allocated a budget of USD 2.37 billion towards the development of low-voltage cable infrastructure as an effort to strategically aid the EU’s digital transformation plan.
   
• In addition, the medium voltage segment has gained from infrastructure development in metropolitan and rural areas. European Union policies supporting energy efficiency and sustainability further encourage investments in medium-voltage cables for power distribution networks, electric vehicle (EV) charging stations, and renewable energy grid interactions.
   
• The high voltage cable demand is further amplified by European decarbonization policy implementation and renewable energy initiatives. In February 2024, Prysmian Group won a contract for USD 929.16 million to deliver high voltage submarine cable systems for the linkage of offshore wind farm interconnections from the German TSO Amprion.
   

• Based on applications, the Europe wire and cable industry is segmented in food & beverages, material handling/logistics, automotive, utilities, railways, consumer electronics, building infrastructure, entertainment/leisure and others. The utility applications hold a substantial share of over 27% in 2024 and is anticipated to grow significantly in the coming years.
   
• The utility sector is anticipated to expand at a rate of more than 4.5% through 2034 in the Europe wire and cable market. The utilities sector encourages investment in new technologies for renewable energy sources and the electricity distribution systems, as well as smart grid systems. In February 2024, the Spanish Ministry of Ecological Transition approved spending of USD 2.590 million for the modernization of electric grids.
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• The food & beverages industry needs cables for automation, processing, and packaging systems for enhanced energy efficiency. In March 2024, the European Commission announced a USD 516.20 million investment to construct a sustainable food processing infrastructure that incorporates modern cabling systems.
   
• The automotive industry remains one of the major market segments, especially in the electric vehicle segment that requires cables for the powertrain, charging system, and other on-board equipment. As reported in January 2024 by the German Federal Ministry of Transport, the government has allocated 1.86 billion USD for the construction of EV charging stations.
   
• The implementation of automated procedures in warehouses and distribution centers in Material Handling and Logistics, needs the integration of cables for machinery, control equipment, and the conveyor systems. In February of 2024, the French government unveiled a new plan under its government 4.0 initiative which features a provision of USD 310.95 million for investment into automated warehouse systems.
   
• The consumer electronics segment sustains continuous demand for power supply, data transmission, and device connectivity cables. The European Commission’s Digital Europe Programme has provided a new announcement regarding the funding of USD 932.85 million issued in March 2024, earmarked for infrastructure digitalization.
   

• Germany wire and cable market was valued at USD 4.5 billion, USD 4.8 billion and USD 5.1 billion in 2022, 2023 and 2024 respectively. The country has the largest European market share in wires and cables due to its industrial base and investments in renewable energy. Germany's Energiewende (an energy transition strategy) policy relies largely on wind and solar energy which increases the demand for power transmission cables.
   
• Germany's position in production of electric vehicles and developing charging infrastructure, together with investments in Industry 4.0 and automation, increases the need for specialty cables. In February 2024, Germany’s Federal Ministry for Economic Affairs and Climate Action allocated USD 2.79 billion towards the expansion of the power grid infrastructure, including construction of high voltage cable networks.
   
• The demand for wire and cable in France is increasing owing to funding in renewable energy, especially in offshore wind and solar power projects. Along with the improvement of electrical grids, charging infrastructure for electric vehicles also drives the demand for high-quality cables. In January 2024, Nexans won a contract worth USD 1.76 billion from RTE France for the supply of high-voltage cables for offshore wind farms.
   
• The UK wire and cable market is anticipated to reach over USD 5.5 billion by 2034, fueled by investments in offshore wind farms, smart grid updates, and electric vehicle infrastructure expansion. The UK government’s goal of reaching net-zero carbon emissions by 2050 has result in an increased requirement for high-voltage and fiber optic cables.
   
• The expansion of the metro and high-speed rail networks within Italy requires more reliable infrastructure cables. Recently, the Ministry of Infrastructure and Transport in Italy allocated USD 1.24 billion for the construction of specialized electric cables for railway electrification schemes.
   

Europe Wire and Cable Market Share

The top 7 companies operating in the Europe wire and cable industry include Prysmian Group, Nexans SA, NKT A/S, Leoni AG, TE Connectivity, TELE-FONIKA Kable SA and British Cables Company (Wilms Group), with a collective market share exceeding 45% across Europe. The Prysmian Group has a substantial market share in the Europe wire and cable industry due to its wide portfolio and many strategic acquisitions.
 

Moreover, the company’s competitive position in the European market has been strengthened due to its focus on innovation and sustainability. In October 2023, Prysmian Group announced the investment of USD 1.55 million to expand the production capacity for interconnection high voltage cables at his Gron plant in France. The investment will help in fulfilling the rising demand for interconnection projects in Europe.
 

NKT A/S has positioned itself in the provision of high voltage cable services whereas Leoni AG concentrates on Automotive cables and wiring systems. Likewise, TE Connectivity offers a broad range of connectivity and sensor solutions. Moreover, TELE-FONIKA Kable SA is a major producer of cables and wires. Wilms Group also known as British Cables Company offers an extensive range of cable products for different uses in order to secure its competitive position.
 

Europe Wire and Cable Market Companies

• Nexans SA provides wide range of solutions for energy and telecommunications in the European wire and cable market. The company’s investment in smart grid technologies and its renewed focus on high-performance cable, along with its position in the renewable energy industry, enhances its market standing. In July 2023, Nexans was awarded a contract to supply and install high voltage subsea power cables for the Norfolk Boreas Offshore Wind Farm in the UK. The contract was worth USD 1.48 billion.
   
• NKT A/S specializes in the production of power cables and other ancillary components to energy infrastructure, including high voltage renewable energy transmission cables. The company's research & development and participation in offshore wind farm projects further aid the company in expanding its markets. In May 2023 NKT won a USD 1.55 billion contract with TenneT for the supply of HVDC cable systems for the BalWin6 offshore wind project.
   
• Leoni AG is involved in the manufacture of automotive and industrial cables, being one of the major players in the wiring systems for electric vehicles. The company manages to retain its share in the European market due to strategic alliances and a large network of production facilities. In December 2023, Leoni has completed the divestment of LEONI Industrial Solutions to Stark Corporation.
   
• TE Connectivity delivers sophisticated connectivity and sensor solutions that cater to the aerospace, automotive and industrial automation sectors. With regards to Europe, the company is able to bolster its position through its expertise in providing reliable and durable shielding and cabling solutions. As a citation, TE Connectivity develops ELCON Micro power connectors for use with next generation data center hardware.
   
• TELE-FONIKA Kable SA specializes in the production of energy, mining, and telecommunications wire and cable products. The company’s wide assortment of products includes power, control, and fiber optic cables, while its global expansion activities increase the competitive edge of the company in European markets. In October 2023, TF Kable Group completes the supply of cables for the Baltic Pipe Project which connects the Norwegian gas system to Poland.
   

Key players operating in the Europe wire and cable market are:

• Belden
• CommScope
• Dätwyler IT Infra
• Elsewedy Electric
• Friedrich Lütze
• Furukawa Electric
• Hellenic Group
• Kabelwerk Eupen
• Klaus Faber
• Lapp Group
• LS Cable & System
• NKT
• Nexans
• Prysmian Group
• SAB Brockskes
• Shawcor
• Studer Cables
• Sumitomo Electric Industries
• Tecnikabel
• TFKable
• TKH Group
• Viakon
• Waskönig & Walter
   

Europe Wire and Cable Industry News:

• In January 2025, Sumitomo Electric displayed its Thunderbolt 5 cables at Integrated Systems Europe (ISE) 2025. The company plans to underscore the benefits of these cables which increase the effectiveness of high-speed data transfer in cutting-edge audio-visual and IT technologies. The Thunderbolt 5 cable's enhanced connectivity and performance features allows the user to leverage the possibilities presented by next-generation technologies in any vertical of the fast changing world.
   
• In January 2025, Polish manufacturer TELE-FONIKA Kable has delivered the first cables for the Baltyk 2 and Baltyk 3 offshore wind farms. These projects, developed by Equinor and Polenergia, will enhance Poland’s renewable energy capacity. The cable delivery marks a key milestone in the country’s transition to sustainable offshore wind power.
   
• In July 2023, Nexans has won a record-breaking contract for the EuroAsia Interconnector, a major subsea cable project linking Greece, Cyprus, and Israel. The project will enhance energy security and support renewable integration in Europe. Nexans’ advanced HVDC cable technology will enable efficient electricity transmission across the region, reinforcing its market leadership.
   
• In May of 2023, NKT secured a groundbreaking power cable framework contract related to TenneT’s 2GW Program. The agreement includes the supply of offshore wind energy transmission high voltage direct current cable systems which further increases NKT’s capabilities in the renewable energy sector in Europe together with efficient power grid integration and energy transition solutions.
   

This Europe wire and cable market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2034, for the following segments:

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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 countries:

• UK
• France
• Netherlands
• Italy
• Spain
• Sweden
• Denmark
• Belgium
• Germany
• Russia