Global Insulated Wires and Cables Market to Reach $218.3 Billion by 2026

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Mar 23, 2022, 03:25 ET

SAN FRANCISCO, March 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Insulated Wires and Cables - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Global Insulated Wires and Cables Market to Reach $218.3 Billion by 2026

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Edition: 19; Released: February 2022
Executive Pool: 11913
Companies: 195 - Players covered include ABL Electronic Supplies, Inc.; AFC Cable Systems, Inc.; AFL; Amphenol Corp.; Aptiv PLC; Asia Pacific Wire & Cable Corporation Limited; Belden, Inc.; Cable USA; Carlisle Interconnect Technologies; Cerrowire LLC; Coleman Cable, Inc.; CommScope, Inc.; Corning Incorporated; Ducommun LaBarge Technologies; Electrical Components International; Encore Wire Corporation; Finolex Cables Ltd; Fujikura Group; Furukawa Electric Company Limited; General Cable Corporation; Hitachi Metals, Ltd.; Leviton Manufacturing Company, Inc.; LS Cable & System Limited; MOLEX, Inc.; NEXANS SA; NKT Cables Group GmbH; Olex Cables Limited; Permanoid Ltd.; Prysmian Group S.p.A.; Rea Magnet Wire Company, Inc.; Southwire Company, LLC; Sumitomo Electric Industries Ltd.; Superior Essex Incorporated; TE Connectivity; Tele-Fonika Kable S.A.; The Okonite Company and Others.
Coverage: All major geographies and key segments
Segments: Material (Metal, Plastic, Optical Fiber); End-Use (Telecommunications, Power, Electronics, Construction, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Insulated Wires and Cables Market to Reach $218.3 Billion by 2026
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. Resultantly, the demand for insulated wires and cables always move hand-in-glove with the economic growth, given the intricate correlation between GDP growth, level of construction activities, and growth of the industrial sector. Pre-COVID 19, strong economic growth, industrialization, and urbanization, had resulted in increased infrastructure and housing needs, thereby translating into improved construction activities across all sectors, including residential, commercial, and infrastructure. Long term prospects for the industrial wires and cables market however remain robust, with China and the US driving demand for low voltage energy and fiber optic cabling. Also, public infrastructure and construction projects in the long run will provide impetus to demand for wires and cables demand. The market growth would also be facilitated by increasing demand from automotive applications including e-mobility owing to their superior heat resistance and mechanical rollover resistance.

Amid the COVID-19 crisis, the global market for Insulated Wires and Cables estimated at US$170.2 Billion in the year 2022, is projected to reach a revised size of US$218.3 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Metal, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$139.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plastic segment is readjusted to a revised 5.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $22.2 Billion in 2022, While China is Forecast to Reach $65.8 Billion by 2026
The Insulated Wires and Cables market in the U.S. is estimated at US$21.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$65.8 Billion by the year 2026 trailing a CAGR of 6.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR. Asia Pacific (including China) represents the largest and the fastest growing region for insulated wires and cables. The regional market is driven by confluence of various factors including rapid urbanization, government initiatives, business expansion and rising disposable income. The market is anticipated to exhibit faster growth owing to major contribution from India, China and Japan. In addition, the regional market is expected to gain from notable expansion of the automotive sector and strong adoption of connected cars across various countries in recent times.

Optical Fiber Segment to Reach $28.7 Billion by 2026
In the global Optical Fiber segment, USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$12.8 Billion will reach a projected size of US$19.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.5 Billion by the year 2026, while Latin America will expand at a 6.7% CAGR through the analysis period.
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