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Europe Wire and Cable Market Size
Europe Wire and Cable Market was valued at USD 33.5 billion in 2023 and is anticipated to grow at a CAGR of 6.3% from 2024 to 2032, owing to the increased investments in renewable energy, infrastructure development, and technological advancements. The surge in demand for efficient power transmission and distribution systems will also be propelling this market significantly. European countries are focusing on upgrading their electrical grids and expanding their power generation capacities, particularly through wind and solar projects, boosting the need for high-quality wires and cables. Multiple companies in this industry are bringing significant partnerships to expand their businesses.
Additionally, the automotive sector's shift towards electric vehicles (EVs) requires advanced wiring solutions, further stimulating market growth. Innovations in telecommunications, including the rollout of 5G networks, also demand robust cabling infrastructure. Stringent regulations and standards in Europe ensure high-quality and safe wire and cable products, supporting market expansion. The market is expected to continue growing as these trends persist, alongside a rising emphasis on energy efficiency and sustainable development initiatives across the region.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 33.5 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 6.3% |
| 2024 – 2032 Value Projection: | USD 59.1 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Product, Voltage, and Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Europe Wire and Cable Market Trends
Governments across Europe are committing to ambitious targets for reducing carbon emissions and increasing the share of renewables in their energy mix. This has led to substantial investments in wind and solar power projects. High-quality cables are essential for transmitting electricity from these renewable sources to the grid. Offshore wind farms, in particular, require specialized cabling solutions that can withstand harsh marine environments, driving demand for advanced products in this segment. Europe is investing heavily in upgrading its aging infrastructure. The modernization of electrical grids is a priority, focusing on improving efficiency, reliability, and resilience.
Smart grid technologies, which integrate digital communication and automation to optimize electricity distribution, necessitate sophisticated wiring and cabling systems. This trend is accelerating the adoption of high-performance cables capable of supporting these advanced systems. European regulations emphasize sustainability and safety standards, influencing the wire and cable market. Manufacturers are focusing on developing environmentally friendly products with minimal ecological impact. Compliance with stringent standards ensures that cables are safe, reliable, and durable, which is critical for gaining market approval and consumer trust.
Europe Wire and Cable Market Analysis
The power cable segment is anticipated to cross USD 34 billion by 2032 since Europe is investing heavily in the modernization of its electrical grids. Upgrading aging infrastructure to improve efficiency, reliability, and integration of renewable energy sources necessitates significant amounts of new power cables. Smart grid technologies, which enhance grid management and efficiency, also depend heavily on advanced power cabling solutions.
Based on voltage, the low voltage segment is anticipated to grow with CAGR of more than 6% through 2032, on account of ongoing urbanization and the expansion of residential areas, contribute to the growth of the low voltage cable segment. Low voltage cables are essential for wiring homes, apartment buildings, and residential complexes, ensuring safe and reliable electrical connections for lighting, heating, and other household appliances.
Germany is anticipated to surpass USD 7.5 billion by 2032 since Germany is heavily investing in modernizing its infrastructure. The aging electrical grid is undergoing upgrades to improve efficiency, reliability, and capacity to handle increased loads from renewable energy sources. This modernization includes deploying smart grid technologies, which require advanced cabling solutions for effective implementation.
Similarly, in countries including UK, France, Netherlands, the trend towards urbanization and the development of smart cities are increasing the need for advanced wiring solutions. Smart city projects involve extensive use of IoT devices, sensors, and communication networks, all of which require reliable and high-capacity cabling infrastructure. Their commitment to energy efficiency and sustainability is driving the adoption of energy-efficient technologies and infrastructure.
Europe Wire and Cable Market Share
Companies like Prysmian, Belden, and Nexans hold significant market share in the Europe wire and cable industry due to their extensive product portfolios, advanced technological capabilities, and strong focus on innovation. They lead in providing high-quality, reliable solutions for diverse applications, including renewable energy, telecommunications, and automotive sectors.
Europe Wire and Cable Market Companies
- Belden Inc.
- CommScope
- Dätwyler IT Infra GmbH
- Elsewedy Electric
- Furukawa Electric Co., Ltd.
- Friedrich Lütze GmbH
- Hellenic Group
- agues
- Klaus Faber AG
- Kabelwerk Eupen AG
- LS Cable & System Ltd.
- Lapp Group
- NKT A/S
- Nexans
- Prysmian Group
- Shawcor
- SAB Brockskes GmbH & Co. KG
- Sumitomo Electric Industries Limited
- Studer Cables AG
- Tecnikabel SpA
- TKH GROUP
- TFKable
- Viakon
- Waskönig & Walter (DE)
Europe Wire and Cable Industry News
- In January 2023, Prysmian Group launched the 864f cable as part of its Sirocco HD series of micro duct cables. This new addition is designed for use in various systems such as 5G networks, high-density access, and FTTx applications. The Sirocco HD cables are available with fiber counts ranging from 96 to 864 and meet international standards for both mechanical durability and optical performance.
- In May 2022, NKT A/S started the production of the world's longest underground high-voltage direct current (DC) power cable system. This 525 kV XLPE high-voltage DC cable, spanning approximately 750 km, was created for SuedLink, TenneT, and TransnetBW to be used in the German SuedLink corridor. These specialized cables are being produced in Karlskrona, Sweden, and will be transported to Germany for installation.
This Europe 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 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 across the regions:
- UK
- France
- Netherlands
- Italy
- Spain
- Sweden
- Denmark
- Belgium
- Germany
- Russia
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