Selbyville, Delaware, June 08, 2021 (GLOBE NEWSWIRE) -- According to the experts, worldwide wires and cables market size was remunerated at USD 183.14 billion in 2020 and is projected to register 4.3% CAGR over the forecast period 2021-2027, amassing USD 245.91 billion by the end of 2027. Rising investments in grid projects, expansive industrialization, and increasing government investments in energy sector are stimulating the growth of the industry.
The report classifies the industry sphere on the basis of voltage, installation type, and end-user scope. Furthermore, a detailed scrutiny of the different regions contributing towards market remuneration is also enclosed in the report. It further outlines the competitive hierarchy of the business vertical and provides a perspective into the strategies adopted by major vendors, such as partnerships, new launches, acquisitions, and mergers.
Furthermore, inflowing funding for transmission and distribution (T&D) infrastructure for effective transmission of power to electrical equipment at network phases, such as generation, and primary & secondary customers is also boosting global wires and cables market valuation. As per the World Energy Investment statistics, T&D infrastructure investment is expected to rise to USD 6.8 trillion by 2035. Moreover, increased recognition of the potential of renewable power is also propelling the market outlook.
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It is to be noted that various types of cables such as coaxial cables, are largely used for transmitting communication signals and electric power.
Despite the positive industry scenario, increasing raw material costs are likely to impede the growth of the market in the ensuing years.
Market segmentation overview:
Based on voltage, global wires and cables industry is classified into low, medium, high, and extra high voltage. By installation type, the industry comprises overhead and underground segments.
Elaborating on end-user scope, the business vertical is arrayed into aerospace & defense, oil & gas, building & construction, IT & telecommunication, energy & power, and others.
Geographical scope:
Estimated from seasons analysts suggest that North America held a significant market share in the recent past, owing to investments made telecommunication company to expand their network.
In the meantime, Asia-Pacific wires and cables industry is projected to record a remarkable CAGR over the forecast period 2021-2027. This can be attributed to establishment of new power plants, as well as persisting focus on smart infrastructure development in the region.
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Global Wires and Cables Market, by Voltage (Revenue, USD Billion, 2018-2027)
- Low Voltage
- Medium Voltage
- High Voltage
- Very High Voltage
Global Wires and Cables Market, by Installation Type (Revenue, USD Billion, 2018-2027)
- Overhead Segment
- Underground Segment
Global Wires and Cables Market, by End-User Scope (Revenue, USD Billion, 2018-2027)
- Aerospace & Defense
- Oil & Gas
- Building & Construction
- IT & Telecommunication
- Energy & Power
- Others
Global Wires and Cables Market, by Regional Terrain (Revenue, USD Billion, 2018-2027)
North America
- United States
- Canada
Europe
- U.K.
- Germany
- France
- Italy
- Spain
- ROE
Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- ROAPAC
Latin America
- Brazil
- Mexico
Rest of the World
Global Wires and Cables Market, Competitive Landscape (Revenue, USD Billion, 2018-2027)
- Prysmian S.p.A
- Nexans S.A.
- LS Cable & System Ltd.
- LEONI AG
- KEI Industries Ltd.
- Furukawa Electric Co. Ltd.
- Fujikura Ltd.
- Finolex Cables Ltd.
- Encore Wire Corp.
- Belden Inc.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Wires and cables Market, by Region, 2019-2027 (USD Billion)
1.2.2. Wires and cables Market, by Installation, 2019-2027 (USD Billion)
1.2.3. Wires and cables Market, by End use Type, 2019-2027 (USD Billion)
1.2.4. Wires and cables Market, by Voltage, 2019-2027 (USD Billion)
1.2.5. Wires and cables Market, by Region Analysis, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wires and cables Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wires and cables Market Dynamics
3.1. Wires and cables Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.2.1. Increasing price of raw materials
3.1.3. Market Opportunities
3.1.3.1. Increasing awareness about the potential of renewable power
Chapter 4. Global Wires and cables Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Wires and cables Market, by Installation
5.1. Market Snapshot
5.2. Global Wires and cables Market by Installation, Performance - Potential Analysis
5.3. Global Wires and cables Market Estimates & Forecasts by Installation 2018-2027 (USD Billion)
5.4. Wires and cables Market, Sub Segment Analysis
5.4.1. Overhead Segment
5.4.2. Underground Segment
Chapter 6. Global Wires and cables Market, by End use
6.1. Market Snapshot
6.2. Global Wires and cables Market by End use, Performance - Potential Analysis
6.3. Global Wires and cables Market Estimates & Forecasts by End use Type 2018-2027 (USD Billion)
6.4. Wires and cables Market, Sub Segment Analysis
6.4.1. Aerospace & Defense
6.4.2. Building & Construction
6.4.3. Oil & Gas
6.4.4. Energy & Power
6.4.5. IT & Telecommunication
6.4.6. Others
Chapter 7. Global Wires and cables Market, by Voltage
7.1. Market Snapshot
7.2. Global Wires and cables Market by Voltage, Performance - Potential Analysis.
7.3. Global Wires and cables Market Estimates & Forecasts by Voltage Type 2018-2027 (USD Billion)
7.4. Wires and cables Market, Sub Segment Analysis
7.4.1. Low Voltage
7.4.2. Medium Voltage
7.4.3. High Voltage
7.4.4. Extra High Voltage
Chapter 8. Global Wires and cables Market, Regional Analysis
Related Report:
Wire and Cable Market size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026
The global wires and cables market size is projected to record commendable gains over the next few years, driven by rapid expansion of the telecom and utility sectors. The deployment of new smart grid networks along with modernization and replacement of existing electrical infrastructure will propel the product demand significantly. In addition, growing investments in the construction sector and upcoming infrastructure development projects will provide wire and cable manufacturers with promising opportunities. Based on the product, global wires and cables industry can be segregated into power cables, coaxial cable /electronic wire, signal & control cables, fiber optic cables, and telecom & data cables, among others. The demand for signal and control cables is slated to grow considerably by 2026 on account of wide use across numerous applications. These are usually low voltage cables used in industrial applications. The advent of advanced technologies such as IoT and AI will positively impact the product demand in the near future.
Telecom and data cables are expected to experience a significant demand by 2026. This can be attributed to the introduction of supportive policies, initiatives, and government investments in the telecom sector.
Global Cable Management System Market Size, Regional Forecasts 2020-2026
Global Cable Management System Market to reach USD 28.98 Billion by 2026. Global Cable Management System Market is valued approximately USD 16.69 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.20% over the forecast period 2019-2026. Cable management system plays a remarkable role in supporting and containing cables while installing it and make easy and efficient changes in maintenance of cable system. Also, cable management corroborate the traceability of specific connections so that they can be validated for code compliance and other quality mandates by the regulatory authorities. The global pandemic of COVID-19 is expected to favorably support the growth of cable management systems due to the significant growth in consumer electronics and semiconductors, the data center and communications infrastructure industry.
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