Global Wires and Cables Market was valued US$ 202.55 Bn in 2018 and is estimated to reach US$ XX Bn by 2026 at a CAGR of XX %.
Global Wires and Cables Market
Global wires and cables are segmented into by voltage, by installation, by an end user, and by region. Based on the voltage wires and cables market is divided into low, high and extra high. Installation is split into the overhead, underground. End users are classified as aerospace & defense, automotive, building & construction, oil & gas, energy & power, IT & telecommunication. Region wise the market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Growing reserves in smart grid technology, increasing renewable energy production, and government initiatives for upgrading the transmission and distribution systems are expected to drive this market. Adoption of smart grid technology has fulfilled the increasing need for grid interconnections, significantly resulting in growing investments in the new submarine and underground cables.
Additionaly, the market growth is attributed to the rising offshore wind farms and high voltage direct current links. Another drivers of the market are, Need for good aesthetics, safety and, functional flexibility. Request From data centers and IT facilities. Rapid growth into construction sector. Opportunities of the market is growing demand from renewable power generation sector.
Based on the voltage, low voltage segment dominating the market. Low voltage cables have high tensile strength and superior conductivity. So, used in industrial and domestic home appliances wiring, internal wiring for lighting circuits, power supply, automotive applications, telecommunication lines, and power generation cables.
On the basis of end user, Energy and power segment hold the largest share of the overall market. With increasing awareness, the manufacturers are actively seeking chances to invest in renewable energy generation, such as solar and wind power.
In terms of region, Asia Pacific most dominated the wires and cable market in 2017. The dominance of the region in the market is attributed to its large population base, rising industrialization and urbanization, development in transmission and distribution networks, growing renewable energy production, large automobile production, and supportive governmental initiatives for expansion or upgrade of existing infrastructure.
Key players operating on the market are, Prysmian Group, Hengtong Optic-Electric Co Ltd., Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Ltd., General Cable Corporation, Jiagnan Group, TPC Wires & Cable Corp, LS Cable & System Ltd, Polycab Wires Private Limited, Southwires Company, LLC, Hitachi Metals Ltd, Nexans S.A., Leoni AG, and Far East Cable Co., Ltd.
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Scope of the Global Wires and Cables Market
Global Wires and Cables Market, by Voltage
• Extra high
Global Wires and Cables Market, by Installation
Global Wires and Cables Market, by End User
• Aerospace & Defence
• Building & Construction
• Oil & Gas
• Energy & Power
• IT & Telecommunication
Global Wires and Cables Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America.
Key players operating on the Global Wires and Cables Market
• Prysmian Group
• Hengtong Optic-Electric Co Ltd.
• Furukawa Electric Co., Ltd.
• Sumitomo Electric Industries, Ltd.
• General Cable Corporation
• Jiagnan Group
• TPC Wires & Cable Corp
• LS Cable & System Ltd
• Polycab Wires Private Limited
• Southwires Company
• Hitachi Metals Ltd
• Nexans S.A.
• Leoni AG
• Far East Cable Co., Ltd
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