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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
India Wires and Cables Market Size
The India wires and cables market reached a value of nearly INR 1,083.71 billion in 2023. The market is projected to grow at a CAGR of 14.5% between 2024 and 2032 to reach around INR 3,655.81 billion by 2032.
Key Takeaways
- The demand for wires and cables in India is expected to ramp up with the expansion of renewable power generation, the upgrading of transmission and distribution infrastructure, rising investments in metro railways and smart grid initiatives, and the growing data center sector.
- Polycab India Limited, KEI Industries Limited, Havells India Limited are a few of the major companies in the market.
- The anticipated increase in urbanisation and commercialisation is assessed to stimulate investments in the real estate sector, leading to a higher demand for low-voltage insulated wires and cables.
A wire is a metallic conductor, mainly made of copper, that is used for conducting electricity whereas a cable is a group of wires that are bonded and twisted together for the transmission of electrical or optical signals.
Globally, India is the third-largest producer and consumer of electricity. As of April 30, 2023, India had an installed power capacity of 416.59 GW. There is a growing number of investments in the power, telecommunication, and infrastructure sectors, including metros, railroads, smart grids, and data centres.
Some of the investments include Raipur Visakhapatnam Expressway (NH-130CD) with a funding of Rs 20,000 crore, Kala Amb smart grid project with an investment of Rs.19.44 crore, and USD 32.7 billion capital investment into the rail among several others.
Some of the factors driving the India cables and wires market growth are ongoing technological advancements and innovations by branded players. India aims to achieve 500 GW of renewable energy by 2030 and the Indian government is significantly investing in metro projects. The Government of India allocated approximately INR 19,518 crores in metro projects during the Union budget 2023-2024.
India Wires and Cables Market Report Snapshots
India Wires and Cables Market Size
India Wires and Cables Market Trends
India Wires and Cables Market Regional Analysis
India Wires and Cables Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market value was INR 1,083.71 billion.
The market is expected to grow at a CAGR of 14.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach INR 3,655.81 billion by 2032.
The major market drivers include rising government investment in Tier 2 city metro projects, expansion of IT and telecommunication centre, and rapid infrastructure development.
The key trends include increasing adoption of renewable energy, growth of social media and the proliferation of smart devices, rapid digital transformation, and the development of data centres and cloud computing.
The different segments based on voltage of wires and cables include low voltage, medium voltage, and high voltage.
Major end uses of wires and cables include construction, telecommunications, energy and power, automotive, and aerospace and defence, among others.
The major players in the market include Polycab India Limited, KEI Industries Limited, R R Kabel Ltd, Universal Cable Limited, Gloster Cables Limited, Finolex Cables Ltd., V-Guard Industries Ltd., and Havells India Ltd., among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124