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

North America Wire and Cable Market Size

North America Wire and Cable Market exceeded USD 33.7 billion in 2023 and is set to grow at a CAGR of 5.8% between 2024 and 2032 due to the increasing urbanization and industrialization globally. Technological advancements, such as the rise of renewable energy sources and smart grids, further fuel this growth as they require specialized cables for transmission and communication.
 

Additionally, the automotive sector's shift towards electric vehicles has created a new avenue for wire and cable manufacturers. Moreover, rising investments in construction projects, both residential and commercial, across developing economies contribute significantly to market expansion.
 

Regulatory pushes towards energy efficiency and sustainable practices also drive innovation in wire and cable materials and designs. The wire and cable market's growth is multifaceted, underpinned by global economic trends, technological evolution, and regulatory imperatives, ensuring a dynamic and expanding industry landscape.
 

North America Wire and Cable Market Trends

Companies are investing in eco-friendly materials and manufacturing processes to reduce their environmental footprint. This trend is driven by regulatory pressures, consumer preferences for green products, and corporate sustainability goals. Recyclable materials, energy-efficient designs, and waste reduction strategies are becoming standard practices in the production of cables and wires.
 

One of the prominent trends in the North America wire and cable industry is the integration of advanced technologies. This includes the development of high-performance cables capable of supporting faster data speeds, higher bandwidths, and greater energy efficiency. Manufacturers, with the increasing demand for reliable connectivity in industries such as telecommunications, IT infrastructure, and automotive sectors, are focusing on innovations that enhance performance and durability. Additionally, there is a growing emphasis on sustainability across industries, and the wire and cable sector is no exception. Companies are investing in eco-friendly materials and manufacturing processes to reduce their environmental footprint. This trend is driven by regulatory pressures, consumer preferences for green products, and corporate sustainability goals.
 

North America Wire and Cable Market Analysis

Based on product, the power cables segment is expected to cross USD 27.4 billion by 2032 owing to the increasing demand for electricity and the expansion of infrastructure projects. The power cables segment encompasses a wide range of cables designed specifically for transmitting and distributing electrical power across various applications, including utilities, industrial sectors, renewable energy projects, and residential buildings. The shift towards sustainable energy sources, such as wind, solar, and hydroelectric power, is further bolstering the demand for power cables.
 

Based on voltage, the low voltage segment is anticipated to register a CAGR of 5.8% till 2032 since it caters to a wide range of applications across residential, commercial, and industrial sectors, driving its steady growth. In residential settings, low voltage cables are essential for powering lighting, appliances, and electronic devices. With increasing urbanization and population growth in North America, there is a growing demand for housing and infrastructure, which in turn boosts the need for low voltage cables in new construction and renovation projects. Moreover, the trend towards smart homes and energy-efficient buildings further drives the demand for low voltage cables capable of supporting modern technologies like home automation systems and energy management solutions.
 

U.S. wire and cable market is anticipated to surpass USD 42.6 billion by 2032 since the U.S. market is expected to benefit significantly from ongoing and planned infrastructure investments. These include projects related to the modernization and expansion of electrical grids, telecommunications networks, transportation systems, and renewable energy infrastructure. As federal, state, and local governments allocate funds towards upgrading aging infrastructure and integrating new technologies, the demand for high-quality wires and cables for power transmission, data communication, and transportation applications is set to increase.
 

Simialry, in Canada and Mexico, Rapid advancements in technology are driving innovation within the wire and cable industry. This includes the development of cables capable of supporting higher data speeds, increased bandwidths, and improved energy efficiency. In sectors such as telecommunications, IT infrastructure, and automotive electronics, there is a growing demand for cables that can handle the demands of modern digital systems and emerging technologies like 5G networks, electric vehicles (EVs), and smart grid solutions.
 

North America Wire and Cable Market Share

Companies like Prysmian, Belden, and Nexans hold significant market share in the wire and cable industry due to their extensive product portfolios, technological innovation, global presence, and strong customer relationships. These companies invest heavily in research and development, enabling them to offer advanced solutions that meet diverse customer needs across various sectors including telecommunications, energy, automotive, and industrial.
 

North America Wire and Cable Market Companies

• Belden
• Elsewedy Electric
• Fujikura Ltd.
• Havells
• KEI Industries
• LS Cables Systems
• Nexans
• NKT A/S
• Polycab
• Prysmian Group
• Southwire Company
• Sumitomo Electric Industries, Ltd.
• ZTT
   

North America Wire and Cable Industry News

• In March 2022, Prysmian Group secured a major contract in March 2022 from AP&T Company for testing, supplying, and installing submarine cable links across south-east Alaska. Known as SEALink, the project aims to enhance regional communication by delivering broadband connectivity to rural areas that are currently underserved. The submarine fiber optic cable will span 214 miles, linking Prince of Wales Island to Juneau.
   
• In March 2023, CommScope Holding Company Inc. has announced an increase in U.S. fiber optic cable production to expedite the broadband rollout in underserved communities. Additionally, the company plans to introduce the new HeliARC fiber optic cable, designed to meet the requirements of deployments in rural area.
   

North America 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:

• U.S.
• Canada
• Mexico