Wires And Cables Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : ICT

The global Wires And Cables market size is expected to be worth around US$ 270.16 billion by 2030, according to a new report by Vision Research Reports.

The global Wires And Cables market size was valued at US$ 193.20 billion in 2020 and is anticipated to grow at a CAGR of 4.10% during forecast period 2021 to 2030.

Growth Factors

Wires and cables are one of the essential components of infrastructure development across the world. The growing emphasis on investments and government initiatives to generate power from renewable sources has enforced the adoption of wires and cables across the globe. Increasing funds in the upgradation of infrastructure and the demand for refined power transmission and distribution systems are the key factors driving the market over the forecast period.

Infrastructure development, modernization, and upgradation of infrastructure such as railways, tunnels, tunnel-lighting and signaling; commercial, residential, and industrial buildings; and implementation of smart grid technology is expected to drive the global market. Sectors such as defense, aerospace, and telecom are moving towards new infrastructure and construction, which increases the demand for cables and wires across the globe. Technological upgrades require various services, such as internet access and communication. Expansions and upgrades will directly increase the demand for cables such as communication cables, instrumentation cables, Ethernet cables, and others.

The government initiatives in rural electrification also play a vital role in the growth of the overall market. Rural electrification entails actions, including setting electricity infrastructure, improving communication, and providing connectivity to households. Rural electrification is anticipated to drive the demand for wires and cables in the coming years. For instance, according to the Ministry of Power - Government of India, 26.3 million homes below the poverty line have been electrified under the Rural Electrification section of Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY). Smart grids diminish the general cost incurred in traditional systems, including the operational cost encountered due to loss of power. It also lowers the pressure on energy prices and total customer bills. The Indian government, under the "Make in India" campaign, has targeted the installation of 130 million smart meters by 2021 under Smart City Initiatives. The installation was done at the consumer base, where the monthly consumption is above 200 units by 2019. There are various steps taken by the government in other countries, such as the U.S., to encourage the smart grid implementation.

Report Highlights

The low voltage segment accounted for the largest revenue share in 2020, with around 43% market share, owing to the high usage of low voltage cables in building wires, LAN cables, appliance wires, distribution networks, and others. These wires and cables support the smart grids in delivering superior electric supplies and offer an improved provision of electric supply for end-use consumers. The energy and power sectors across the world are experiencing a rapid alteration. Most of the developing and developed countries are experiencing heavy demand for electricity and are moving towards the incorporation of large-scale renewable resources.

The high voltage wires and cables are used for transmission of electricity from 1,000 volts. These cables are coated with paper and oil, to avoid direct contact of the cables with an individual or any other material. The quality of high voltage cables depends upon the insulation material type used. The high demand for these cables from the end-users such as power distribution, oil and gas, telecom, aerospace, and defense is the major factor responsible for the growth of the high voltage cable market over the forecast period.

The overhead installation segment accounted for the largest revenue share in 2020, with around 64% market share. The overhead installation technique is the most widely used approach across the world. The overhead approach of wires and cables is the easiest and cheapest form of installation. The overhead installation technique is mostly adopted in countries with a lower population. However, countries with a high risk of natural calamities such as earthquakes and floods tend to have overhead cable installation.

The underground installation segment is expected to expand at the highest CAGR over the forecast period. The underground cable installation lowers the maintenance costs, incurs fewer transmission losses, and hence, effortlessly sustains the power loads. The demand from various sectors such as commercial, residential, automotive, telecom, and energy and power industries are leading to expansion and upgradation of infrastructure, which in turn is anticipated to drive the demand for the wire & cables market. The developing countries such as India, China, Vietnam, amongst others are spending a significant portion of their GDP on infrastructure development.

The energy and power segment accounted for the largest revenue share in 2020, with around 37% market share. Several technological upgrades such as shifting the old transmission lines to high/extra high voltage lines to avoid the transmission losses are been made in the electricity T&D ecosystem. These changes aim at making the ecosystem stable in contradiction of the alternating nature of renewable sources of energy. Moreover, the introduction of new methodologies such as synchronized charging of electric vehicles and net metering for solar homes have aggressively affected the utilities sector. However, the growing renewable power capacity and energy generation have further augmented the need of countries to interrelate their transmission systems. This link-up is expected to balance the power generation and demand through the export and import of electricity. With the rise in the generation of renewable energy, the electricity trade is anticipated to increase, thus resulting in the construction of high-capacity interconnection lines, in turn driving the market.

Building and construction segment is expected to expand at the highest CAGR of 5.0% over the forecast period. However, refurbishment in aging commercial, residential, industrial buildings, and new construction worldwide supports the growth of the market. Developing countries in the Middle East and Africa, South America, and the Asia Pacific region are undertaking new construction infrastructures, including rail signaling, rail tunneling, and expansion in power generation and distribution. Further, owing to factors including infrastructure development, economic growth in developing countries, and increasing internet penetration, the wire and cable market is anticipated to grow over the forecast period.

Asia Pacific accounted for the largest revenue share in the wires and cables industry in 2020, with a 37.2% market share. The demand for wires and cables is observed to be stable in North America; however, the European region is expected to grow over the forecast period owing to initiatives such as Digital Agendas for Europe 2025. In addition, the North American region has seen a vast increase in data consumption, which has resulted in investments by prominent telecommunication companies such as AT&T and Verizon in fiber networks. For instance, in April 2020, Belden Inc. developed new fiber solutions that allow data centers to create a reliable, robust, and high-performance infrastructure. These solutions include DCX Optical Distribution Frame, FiberExpress Flexible Ribbon Cable, 1.6 mm Multi-Fiber Trunks, and Fiber MPO Trunks. Thus, these significant investments in the IT and telecommunications sectors are expected to drive the overall market.

The market in Asia Pacific region is anticipated to expand at the highest CAGR of 4.7% over the forecast period. The growing demand for light, power, and communication is anticipated to fuel the market over the forecast period. The government initiatives such as “Make in India”, and “Go Green” policy is expected to drive the market in India. According to the Indian Electrical Equipment Industry Mission Plan 2012-2022, the government of India has planned to make the country one of the electrical equipment producers and obtain productivity of USD 100 billion by matching the exports and imports, hence, driving the demand for cables over the period 2012-2022.

Key Players

  • Belden Inc.

  • Fujikura Ltd.

  • Furukawa Electric Co., Ltd.

  • Leoni AG

  • LS Cables & System Ltd.

  • Nexans

  • NKT A/S

  • Prysmian SpA

  • Sumitomo Corporation

Market Segmentation

  • Voltage Outlook 

    • Low Voltage

    • Medium Voltage

    • High Voltage

    • Extra High Voltage

  • Installation Outlook 

    • Overhead

    • Underground

  • End-use Outlook 

    • Aerospace & Defense

    • Building & Construction

    • Oil & Gas

    • Energy & Power

    • IT & Telecommunication

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • South America

      • Brazil

    • Middle East & Africa

The Wires And Cables market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Wires And Cables market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Wires And Cables market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Wires And Cables market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Wires And Cables market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Wires And Cables capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Wires And Cables by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Wires And Cables market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Wires And Cables market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Wires And Cables market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Wires And Cables industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Wires And Cables market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Wires And Cables market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Wires And Cables market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Wires And Cables market. These factors have benefited the growth of the global market for Wires And Cables. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Wires And Cables. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Wires And Cables are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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