Wire & Cable Market worth $266.17 billion by 2029 at 5.8%, says MarketsandMarkets™

Delray Beach, FL, Aug. 21, 2025 (GLOBE NEWSWIRE) -- In terms of value, the Wire & Cable Market is estimated at USD 201.04 billion in 2024 and is projected to reach USD 266.17 billion by 2029, at a CAGR of 5.8%, as per the recent study by MarketsandMarkets™. There are various factors due to which the demand for wire & cable will grow in the coming years. Firstly, the growing renewable energy sector is a major driver of the wire & cable market. Countries across the globe are increasing their renewable energy production by installing grid technology and initiating offshore as well as onshore wind projects. These projects are generating huge revenues for wire and cable manufacturers especially since there is an increased demand for submarine cables due to offshore projects. Additionally, countries worldwide are investing heavily and providing subsidies to boost EV sales, which is further necessitating the need for more EV charging points. This is significantly driving the need for specialized EV cables. Construction, Telecommunication, Energy & Power, Automotive, and Oil & Gas industries are generating significant demand for wire and cables.

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List of Key Players in Wire & Cable Market:

Prysmian (Italy), Belden Inc. (US),
Fujikura Ltd. (Japan),
Furukawa Electric Co., Ltd (Japan),
Leoni Ag (Germany), Nexans (France),
Emerson Electric Co. (US),
Hellenic Cables (Greece),
KEI Industries (India),
Sumitomo Electric Industries, Ltd. (Japan),
NKT A/S (Denmark),
Finolex Cables Ltd (India),
Helukabel (Germany)

Drivers, Opportunities and Challenges in Wire & Cable Market:

Drivers: Rising demand for cables from renewable energy sector
Restraint: Fluctuating raw material prices.
Opportunity: Surge in demand for cables in EV infrastructure.
Challenge: Enhancing insulation durability.

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Key Findings of the Study:

By 2029, Wire & Cable market is expected to grow moderately in terms of value.
Underground cables dominate the global market in 2023, in terms of value.
Asia Pacific region is expected to account for the largest market share in 2023.

Based on Installation, the wire & cable market is divided into three types namely, overhead, underground, and submarine. The underground installation has the maximum demand in the wires & cables market. This is because human tends to require greater reliability and visibility in Urban areas which has also boosted the trend. There are many advantages of underground cables over overhead installation for instance they are not affected by weather conditions, they are less likely to be affected by an accident, or a falling tree and they are less visible and thus are not disrupting the aesthetic view of an area. Also, installations located underground are less exposed to interference and acts of vandalism, and, therefore, suitable for dense neighbourhoods and important connections. The market share of underground solutions will also continue to increase in the future as cities grow and develop, in general, requiring various solutions to fit modern society’s needs.

Based on product type, the wire & cable market is divided into five types namely, electronic wires, power cables, control & instrumentation cables, communication cables, and flexible & specialty cables. The electronic wires dominate the market with the highest market share and also is expected to be the fastest-growing type of product. Electronic wires have immense application various electronic devices including smartphones, computers, and other consumer electronic equipment. Thus, with the growing proliferation of these electronic devices, there is an expected growth in the demand of electronic wires.

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Based on material type, the wire & cable market is divided based on metal and polymer. The metal is an irreplaceable part of the wire and cables and thus dominates the material segment of the wire & cable market. Metals include copper and aluminium which have excellent electrical conductivity properties. Copper is used for high-voltage power transmission and is on the expensive side whereas aluminium is used in lightweight and cost-effective wires and cables. Metals comprise the major part of wire and cables, whereas the polymer is mainly used to sheath them to protect from external damage.

Based on Region, Currently, the wire and cable demand in Asia-Pacific is highest due to increased urbanization, development, and growth in the economy. With ongoing development in the electrical systems of the countries in this region accompanied by investment into the modernization of these systems, the role of high quality and performing wiring solutions assumes centre stage. This trend is attributed by mega structures like Smart cities, transportation systems, renewable energy platforms among others. Also, a growing manufacturing industry in the region and an increasing introduction of new technologies in the telecommunication and data centre industry increases the demand for the wire and cable system. The increasing levels of industrialization and urbanization in the Asia-Pacific region with persevered demands for higher connectivity and efficiency in energy usage would keep the region in the wire and cable market as a key growth factor

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