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Wire and Cable Market Size

  • Report ID: GMI4859
  • Published Date: Jun 2024
  • Report Format: PDF

Wire and Cable Market Size

Wire and Cable Market was valued at USD 240.3 billion in 2023 and is estimated to grow at a CAGR of 8.1% from 2024 to 2032, on account of the growing inclination towards refurbishment and upgradation of existing electric infrastructure across the key economies. Surging investment in automotive and other manufacturing sectors coupled with the rapid expansion of IT and telecommunication applications will drive the wire and cable demand. Favorable consumer preference for the use of flexible and fire-resistant wire and cable to protect the living environment in line with increased lifespan of these product will energize the business landscape. Rising concerns regarding electrical supply faults, health risks, fires, and other operational hazards will energize the industry landscape.

 

The global push towards renewable energy sources such as wind, solar, and hydroelectric power is driving demand for specialized cables that can withstand harsh environmental conditions and transmit electricity efficiently over long distances. Upgrading and expanding power grids to integrate renewable energy sources is necessitating advanced cable solutions, including high-voltage direct current (HVDC) and submarine cables.
 

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of wire and cable was crossed USD 240.3 billion in 2023 and is set to grow at 8.1% CAGR through 2032, due to the adoption of smart grid network.

The power cables segment in the wire and cable market is set to exceed USD 290 billion by 2032 owing to their extensive applications in low rated capacity networks.

Asia Pacific wire and cable market is expected to reach over USD 325 billion by 2032 attributed to rising electricity demand coupled with inadequate grid infrastructure.

Alfanar Group, Bahra Cables, BELDEN, Brugg Kabel AG, Ducab, Elsewedy Electric, Federal Cables, Fujikura Ltd., HELUKABEL MiddleEast, Jeddah Cables, KEI Industries Limited, Midal Cables Ltd., Naficon, and Nexans among others.

Wire and Cable Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 22
  • Tables & Figures: 20
  • Countries covered: 32
  • Pages: 80
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