Wire and Cable Materials Market Size, Share, Trends Analysis, 2032

Wire and Cable Materials Market Insights

According to the report published by Zion Market Research, the global Wire and Cable Materials Market size was valued at USD 3.26 Billion in 2023 and is predicted to reach USD 4.80 Billion by the end of 2032. The market is expected to grow with a CAGR of 4.4% during the forecast period. The report analyzes the global Wire and Cable Materials Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the rising opportunities in the Wire and Cable Materials industry.

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Global Wire and Cable Materials Market: Overview

Wire and cables are cohesive parts of power infrastructure, as they are required in transmission lines such as coaxial cables for transmitting electric power and communication signals. Due to increasing investments in electric and power infrastructure, the market for wire and cable materials is eventually expected to grow. Due to advancements in material science and research & development, there have been innovations in various types of wires as per various industry's requirements.

Global Wire and Cable Materials Market: Growth Factors

The global wire and cable material market is fueling at a rapid rate. Continuing demand for wires and cables in a wide variety of industries, including construction, telecommunications, packaging, industrial machinery, aerospace, defense, and information technology is expected to drive the global market for wire and cable materials. The growth of wires and cables is witnessed in the construction sector too, owing to considerable developments happening across the globe. Also, as the focus on a sustainable environment is increasing and alternative methods that help in green construction, thus, lessening the pollution and impact of non-renewable sources on the environment is helping such wire and cable material market to flourish.

Moreover, 3D printing makes the process of wiring and cabling easy to handle and its manufacturing efficiency is enabling construction cables to produce with this technique. Besides use in electrification, the wires and cables are used for automotive purposes too. Furthermore, growing demand for electric vehicles across the world and manufacturers introducing electric cars, two wheelers, rapidly is expected to take the market towards higher level during the forecast period. Also, increasing trend for fire resistant, crack free, and durable cables is spurring the growth of the global market. However, these raw materials used for wires and cables, such as rubber, copper, fluorine, etc., are of high cost in nature which restrains the global wire and cable materials market growth.

The ongoing COVID-19 pandemic outbreak had strong impact on the overall global wire and cable market growth in 2020. The market remained slow due to minimal industrial activity in various regions of the world, supply chain barriers and restrictions on cross-border trade & transport. Given the shutdown of the automotive sector, delays in construction projects and low demand from various end-user industries, the global market for wire and cable materials witnessed some losses. As now the market is rising again, manufacturers are certain that the demand will grow soon.

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Global Wire and Cable Materials Market: Segmentation

The global wire and cable material market is segmented into product, cable type, material, end-user, and region.

On the basis of product, the market is classified into cable tray & ladders, cable raceway, glands & connectors, conduits & trunking, wiring ducts, boxes & covers, tiles, fasteners, and clips.

Based on cable type, the global wire and cable material market is divided into power cable and communication wire & cable.

The material segment in the market is segmented into metallic and non-metallic.

By end-user application, the market is segmented into commercial, residential and industrial.

Wire and Cable Materials Market: Report Scope

Global Wire and Cable Materials Market: Regional Analysis

Among the regions, Asia Pacific is anticipated to be in limelight during the forecast period owing to increasing investments in the expansion of transmission and distribution networks. Furthermore, as the production of electricity with the help of renewable energies is increasing in developing countries in Asia, the requirement for wire and cables in construction process is expected to go high. North America is also expected to have lucrative growth and become the second largest market globally.

Due to the increasing generation of renewable energy and targets made by the government to use more renewable energy for electricity than other methods, the market for wire and cables is expected to have a lucrative demand. Renewable power utilization is increasing in the European market too with the increasing investments in construction for grid infrastructure and other utilities. Therefore, it is going to witness promising growth in the near future.    

Global Wire and Cable Materials Market: Competitive Players

Companies are working hard to make their strong portfolio and expand their market distribution areas. The major players are diversely making their mark and growing their geographical boundaries wherever the demand and adoption are high to be the best in the market. The key players in the global wire and cable material market include;

• Legrand
• Eaton
• Obo Bettermann
• Panduit
• Atkore
• KEI Industries Ltd.
• Cord Cable Industries Ltd.
• Encore Wire Corp.
• Nexans
• Prysmian Group
• Finolex Cables, Ltd.
• Southwire Company
• Furukawa Electric Co., Ltd.
• Fujikura Ltd.
• Sumitomo Corporation
• Belden, Inc.
• LS Cable & System
• Marlin Steel Wire Products LLC
• Amphenol
• Polycab

The global wire and cable materials market is segmented as follows;

By Product Segment Analysis

• Cable Tray & Ladders
• Cable Raceway
• Glands & Connectors
• Conduits & Trunking
• Wiring Duct
• Boxes & Covers
• Tiles
• Fasteners & Clips

By Cable Type Segment Analysis

• Power Cable
• Communication Wire & Cable

By Material Segment Analysis

• Metallic
• Non-Metallic

By End-User Segment Analysis

• Commercial
• Residential
• Industrial

Global Wire and Cable Materials Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provide

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, ongoing, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.