The Global Market for Insulated Wire and Cable is Projected to Reach US$244 Billion by 2024

Development of Energy/Telecommunication Infrastructure & Revival in Construction Activity to Drive the Market for Insulated Wires and Cables, According to a New Report by Global Industry Analysts, Inc. 

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Insulated Wire and Cable market. The global market for Insulated Wire and Cable is projected to reach US$244 billion by 2024, driven by expansion and upgrades in the energy sector; development of telecommunication infrastructure; and revival of residential and commercial construction activity.

Insulated wires and cables today enjoy an almost ubiquitous presence in the construction, electrical and electronics, power, and telecommunication industries. As a medium which transfers electricity, these units deliver the crucial electrical fuel that powers electrical as well as electronic components. Demand for insulated wires and cables, therefore, always moves in line with economic growth. Strong economic growth, industrialization and urbanization result in increased infrastructure and housing needs, thereby translating into improved construction activities across all sectors, including residential, commercial, and infrastructure. Focus on sustainable buildings is gaining prominence, with governments enforcing new regulations which establish performance standards for energy efficiency. Companies operating in the insulated wires and cables market are also focused on addressing environmental concerns by employing environmentally-friendly measures, such as green materials.

Telecom industry is among the major drivers owing to continuous upgrades. Telecommunications cable deployment activity is gaining strength, with telecom operators taking active efforts to expand capacity in line with the escalating demand for Internet data traffic. Within the power sector, components of smart grids such as smart meters, smart thermostats, smart appliances and other smart grid devices are integrated with number of chips, which presents a lucrative opportunity for insulated wires and cables. These wires enable end to end power regulation within the smart grid to eradicate transmission losses, short circuits, and other electrical related ambiguities. In addition, stable automobile production trends are poised to benefit demand for automotive grade insulated cable for vehicle electrical wiring. Popular wire and cable insulation materials include flame retardant compounds such as treated ground calcium carbonates, chemically cross-linked PE compound, thylene-Propylene (EP) Rubber, and Polyvinyl Chloride (PVC), among others.  

As stated by the new market research report on Insulated Wire and Cable, Asia-Pacific represents the largest and the fastest growing market with a CAGR of 7.7% over the analysis period. Major factors influencing growth in the region include encouraging economic growth; rapidly evolving telecom industry with robust investments in fibre optics network technologies; national level focus on smart city initiatives and the ensuing need for underground electric wiring system; deployment of smart electrification and energy generation projects that require replacement and upgrade of overhead cables and electric lines; government policy led support for the development of public transportation system and the ensuing emphasis on railway electrification; and strong sales and production of automobiles coupled with the growing trend of automotive electronification.        

Key players in the market include ABL Electronic Supplies Inc., AFC Cable Systems Inc., Amphenol Corp., Asia Pacific Wire & Cable Corporation Ltd., Belden Inc., Cable USA, Carlisle Interconnect Technologies, Cerro Wire LLC, Coleman Cable Inc., CommScope Inc., Corning Inc., Delphi Automotive Plc, Ducommun LaBarge Technologies, Electrical Components International, Encore Wire Corp., Finolex Cables Ltd., Fujikura Group, AFL, Furukawa Electric Company Ltd., General Cable Corp., Hitachi Metals, Ltd., Leviton Manufacturing Company Inc., LS Cable & System Ltd., Superior Essex Inc., MOLEX Inc., NEXANS SA, Olex Cables Ltd., NKT Cables Group GmbH, Permanoid Ltd., Prysmian Group S.p.A., Rea Magnet Wire Company Inc., Southwire Company LLC, Sumitomo Electric Industries Ltd., TE Connectivity, Tele-Fonika Kable S.A., and The Okonite Company, among others.

The research report titled “Insulated Wire and Cable: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, issues, mergers and acquisitions and other strategic corporate initiatives of major and niche global and regional players. The report provides market estimates and projections in US$ Million for all major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). Key product segments analyzed at the global and regional levels include Building Wire & Cable; Electronic Wire & Cable; Power Wire & Cable; Telecommunications, Data Wire & Cable; and Others.

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