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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Wires and Cables Market Size
The global wires and cables market reached a value of USD 275.62 billion in 2023 and is expected to grow at a CAGR of 3.5% over the forecast period of 2024-2032.
The main factors driving the growth of the industry are rising urbanization and the rapidly growing building infrastructure. These have influenced commercial, residential, industrial energy, and power demand.
Wires and Cables Market Report Snapshots
Wires and Cables Market Analysis
*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
The global wires and cables market reached a value of USD 275.62 billion in 2023.
The market is expected to grow at a CAGR of about 3.5% in the forecast period of 2024-2032.
The industry is expected to expand in the forecast period to reach USD 375.64 billion by 2032.
The major drivers of the market, such as rising disposable incomes, rising urbanisation, and the rapidly growing building infrastructure, are expected to aid the industry growth.
The increased investments in smart grids and power transmission and distribution systems is expected to define the market growth in the coming years.
North America, Latin America, Middle East and Africa, Europe, Asia Pacific are the major regions in the market.
The major voltage segments in the market are low voltage, medium and high voltage, and optical fibre.
The leading materials of wires and cables in the industry are copper, aluminium, and glass, among others.
The major end-use segments in the industry are building and construction, aerospace and defence, oil and gas, IT and telecommunication, and energy and power, among others.
The major players in the market are Belden Inc., Furukawa Electric Co., Ltd., Hitachi Ltd., KEI Industries Limited, Leoni AG, LS Cable & System Ltd., Nexans S.A., Prysmian S.p.A, and Sumitomo Electric Industries, Ltd., among others.
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