Hyderabad, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Wire and Cable Market Report (2023-2028)," the market is estimated at USD 216.51 billion in 2023. It is expected to register a CAGR of 5.50% during the forecast period.
A cable refers to insulated wires wrapped in a single jacket that allows them to pass through. On the other hand, a wire refers to a single conductor. Cable manufacturing companies are increasing fire-resistant cable production to cater to the growing demand for construction products. Cables that are fire-resistant help limit the propagation of flames.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 216.51 billion |
| Market Size (2028) | USD 282.97 billion |
| CAGR (2023-2028) | 5.50% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing production of renewable energy. |
| The increasing government initiatives to upgrade distribution and transmission systems. |
Who are the Top Companies in the Wire and Cable Market?
The wire and cable market is highly competitive and consists of several significant players. These market players are increasingly partnering, investing, and launching new products to earn a competitive edge in the market.
Significant players in the wire and cable market are,
- Nexans
- Cable & System Limited
- Prysmian SpA
- Southwire Company LLC
- Fujikura Limited
- Furukawa Electric Co., Ltd
- Leoni AG
- Belden Incorporated
- TE Connectivity
- British Cables Company (Wilms Group)
- TELE-FONIKA Kable SA
- Amphenol Corporation
- NKT A/S
- CommScope Holding Company Inc.
- Corning Incorporated
- Waskonig & Walter
- Shanghai Shenghua Group
- Hengton Optic-Electric
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Key Highlights from the Wire and Cable Market Report:
Fiber Optic to Drive the Market
- Fiber optic cables span long distances among local phones. The other system users include cable television services, university campuses, and industrial plants.
- Government programs supporting 5G deployment worldwide are driving market growth. The European Commission established a public-private partnership to enable the research of 5G technology.
Growing Demand for Towers in Asia-Pacific
- In Asia-Pacific, the rise in the volume of the telecom sector is pushing companies to establish telecom towers, which is expected to drive the market in the region.
- In Japan, the growing demand for energy and smart grid networks is driving the expansion of the market.
What are the Latest Developments in the Wire and Cable Market?
- In May 2023, MaxLinear Inc. partnered with JPC Connection to produce active electrical cables using MaxLinear’s 5 nm Keystone PAM4 DSP.
Mordor Intelligence has Segmented the Wire and Cable Market Based on Cable Type, End-User Vertical, and Geography:
- By Cable Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Low Voltage Energy
- Power Cable
- Fiber Optic Cable
- Signal and Control Cable
- Other Cable Types
- By End-user Vertical (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Construction (Residential and Commercial)
- Telecommunications (IT and Telecom)
- Power Infrastructure (Energy and Power, Automotive)
- Other End-user Verticals
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Wire and Cable Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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