Global wire and cable markets over $ 260 billion until 2028
DUBLIN, October 29, 2021 / PRNewswire / – The Global Wire and Cable Market Size, Share and Trend Analysis Report by Voltage (Low, Medium, High, Very High), by Installation (Overhead, Underground), by End Use, by Region and segment forecast, 2021-2028 “ report was added to ResearchAndMarkets.com offer.
The global wire and cable market size is expected to reach $ 260.16 billion by 2028 and is expected to increase at a CAGR of 4.4%
Wires and cables are one of the essential elements of infrastructure development across the world. The growing emphasis on investments and government initiatives to generate electricity from renewable sources has imposed the adoption of wires and cables across the world. Rising funds in infrastructure modernization and demand for refined power transmission and distribution systems are the key factors driving the market during the forecast period.
Infrastructure development, modernization and upgrading of infrastructure such as railways, tunnels, tunnel lighting and signage; commercial, residential and industrial buildings; and the implementation of smart grid technology is expected to boost the global market.
Sectors such as defense, aerospace and telecommunications are moving towards new infrastructure and construction, increasing the demand for cables and wires around the world. Technology 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.
Government initiatives in rural electrification also play a critical role in the growth of the global market. Rural electrification involves actions, including the establishment of electricity infrastructure, improved communication and the provision of connectivity to households. Rural electrification is expected to stimulate demand for wires and cables in the coming years.
For example, according to the Ministry of Energy – Government of India, 26.3 million households below the poverty line were electrified as part of the rural electrification section of Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY). Smart grids decrease the overhead costs incurred in traditional systems, including operational costs encountered due to loss of power. It also reduces the pressure on energy prices and the total customer bill.
The Indian government, as part of the “Make in India“, targeted the installation of 130 million smart meters by 2021 as part of the Smart City initiatives. The installation was carried out at the level of the consumer base, where the monthly consumption is more than 200 units of by 2019. Various measures have been taken by the government in other countries, such as the United States, to encourage the implementation of smart grid.
Highlights of the Wire and Cable Market Report
The global market represented $ 183.14 billion in 2020 and is expected to grow at a CAGR of 4.4% from 2021 to 2028.
The extra high voltage segment emerged as the fastest growing segment during the forecast period.
Overhead has become the most important segment in 2020 and is expected to generate revenues of over $ 165.17 billion by 2028.
The Asia Pacific market held the largest share of the market in 2020. Government initiatives such as Make in India and smart cities in the region are expected to drive the market.
Key players such as Prysmian SpA, Nexans, Belden Inc., LS Cables & System Ltd., Furukawa Electric Co., Ltd., Fujikura Ltd., Sumitomo Corporation, Leoni AG, NKT A / S, among others, accounted for the majority of the entire market in 2020.
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Definitions
Chapter 4 Industry Outlook
4.1 Wire and Cable Market Overview, 2020
4.2 Market dynamics
4.2.1 Market Drivers Analysis
188.8.131.52 Implementation of smart grid technology
184.108.40.206 Increase in renewable energy production
4.2.2 Analysis of market restrictions
220.127.116.11 Fluctuation in the price of raw materials
4.4 Value chain analysis
4.5 Mapping of penetration and growth prospects
4.6 Key Business Analysis, 2020
4.7 PEST analysis
4.8 Porter’s five forces analysis
Chapter 5 Wire and Cable Market: Tension Outlook
5.1 Tension Segment Analysis, 2017 – 2028 (USD Billion)
5.2 Low voltage trends, 2017 – 2028 (USD billion)
5.3 Trends in medium voltage, 2017 – 2028 (USD billion)
5.4 High voltage trends, 2017 – 2028 (USD billion)
5.5 Trends in extra high voltage, 2017 – 2028 (billion USD)
Chapter 6 Wire and Cable Market: Installation Outlook
6.1 Installation Segment Analysis, 2017 – 2028 (USD Billion)
6.2 Overhead Segment Trends, 2017 – 2028 (USD Billion)
6.3 Trends in the underground segment, 2017 – 2028 (USD billion)
Chapter 7 Wire and Cable Market: End Use Outlook
7.1 End-Use Segment Analysis, 2017 – 2028 (USD Billion)
7.2 Aerospace and Defense Segment Trends, 2017 – 2028 (USD Billion)
7.3 Building and Construction Segment Trends, 2017 – 2028 (USD Billion)
7.4 Oil and Gas Segment Trends, 2017 – 2028 (USD Billion)
7.5 Energy and Power Segment Trends, 2017 – 2028 (USD billion)
7.6 Trends in Information Technology and Telecommunications Segment, 2017 – 2028 (USD Billion)
Chapter 8 Wire and Cable Market: Regional Outlook
8.1 Regional analysis, 2017 – 2028 (USD billion)
Chapter 9 Competitive Landscape
For more information on this report, visit https://www.researchandmarkets.com/r/9r0bjp
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