Global Wire & Cable Market Outlook, 2028: Growing Integration of Smart Grid Technologies Spurs Growth - ResearchAndMarkets.com

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Global Wire and Cable Market is anticipated to reach USD more than 285 Billion by 2028 with a significant CAGR of 7% from USD 191 Billion in 2022.

Increasing investments in electricity network expansion in emerging economies will lead to growth in the wire and cable markets. The expansion of infrastructure development operations is being supported by increased investments from both public and private entities to boost programmes and regulatory initiatives, consequently broadening market growth.

Furthermore, the focus on lowering greenhouse gas emissions and implementing severe energy efficiency measures has produced a beneficial economic environment for the wire and cable market. The wire and cable business will benefit significantly from the rapid rise of consumer electronics and the expansion of grid infrastructure networks.

Increased investment in R&D by manufacturers to boost market development. Furthermore, the shift to renewable energy sources such as solar and wind power has increased demand for specialised wire and cable capable of efficiently transporting renewable energy over great distances.

Furthermore, the integration of smart grid technologies such as improved metering infrastructure and distribution automation necessitates the installation of wire and cable for transporting data and facilitating communication within the grid infrastructure. With the advent of Industry 4.0 and the Internet of Things (IoT), there is an increasing need for wire and cable solutions that support automation and smart technologies.

The Asia-Pacific wire and cable market is project to grow at CAGR of 7.87% between 2023 to 2028.

The Asia-Pacific region, including countries such as China, India, Japan, South Korea, and Southeast Asian nations, has experienced significant economic growth over the past few decades.

This growth has led to increased investments in infrastructure development, industrialization, and urbanization, all of which require extensive wire and cable networks for power transmission, telecommunications, and other applications. Furthermore, Asia-Pacific has the world's largest population, with a growing middle class and increasing urbanization.

This demographic trend drives the demand for electricity, consumer electronics, automotive vehicles, and telecommunications infrastructure, all of which rely heavily on wire and cable systems. The sheer size of the market and the demand from a large population contribute to the region's dominance in the wire and cable industry.

The region has been actively investing in infrastructure projects, including transportation networks, power generation, and distribution systems, and smart city initiatives. These projects require extensive wire and cable installations for electrical grids, railway networks, communication networks, and building wiring. The ongoing infrastructure development activities further fuel the demand for wire and cable products in the region.

Companies mentioned in the report:

• Nexans S.A.
• Prysmian S.p.A.
• Furukawa Electric Co. Ltd.
• Amphenol Corporation
• Belden Incorporated
• Te Connectivity
• Leoni AG
• Corning Incorporated
• Havells India Limited
• Fujikura Ltd.
• Sumitomo Electric Industries Ltd.
• Riyadh Cables Group
• Hengtong Group
• LS Cable & System Ltd.
• Southwire Company LLC
• CommScope Holding Company Inc
• KEI Industries Ltd.
• Polycab India Limited
• NKT A/S
• Elsewedy Electric Co S.A.E.

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Wire and Cable market with its value and forecast along with its segments
• Region-wise Wire and Cable market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Voltage Type:

• Low Voltage
• Medium Voltage
• High Voltage
• Optical Fiber Cable

By End-User:

• Power Infrastructure (Energy, Power Transmission and Distribution)
• IT & Telecommunication
• Building & Construction (Commercial and Residential)
• Aerospace & Defence
• Consumer Electronics
• Automotive (Passenger, Commercial and Utility Vehicles)
• Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)

For more information about this report visit https://www.researchandmarkets.com/r/au1v58

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