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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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Wire and Cable Market Size in 2023: | USD 240.3 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 8.1% |
| 2032 Value Projection: | USD 500.7 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 80 |
| Tables, Charts & Figures: | 20 |
| Segments covered: | Product, Voltage, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Wire and Cable Market Scope
