The global insulated wires and cables market size is likely to be valued at US$ 181.6 Billion in 2023. The increasing application of insulated wires and cables in the construction sector is driving market growth. The market is estimated to garner US$ 334.7 Billion in 2033, recording a CAGR of 6.3% from 2023 to 2033
The rapid development of the end-use application sectors such as industrial, telecommunication, power, electronics, and construction is expected to boost insulated wires and cable sales in the forecast period.
The technological advances in the automotive sector and the increasing application of insulated wires and cables in hybrid and electric vehicles. The demand for high-performance cables that can transmit power efficiently and reliably is on the rise.
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The growing requirement for transmitting data between cell towers and other communication equipment has led to an increase in demand for insulated wires and cables in the telecommunication industry. With the increasing demand for high-speed internet and increased technological innovations in the telecommunication sector, the global insulated wires and cables market is projected to grow during the forecast period.
The growth of the insulated wires and cables market is attributed to the increasing demand from the construction sector, increasing research and development activities, and technological advances in manufacturing technology.
North America is emerged as a major consumer of insulated wires and cables owing to the increasing application in the industrial sector. Europe is expected to show high growth in the industry due to increased industrialization and urbanization.
Key Takeaways:
- From 2018 to 2022, the market demand expanded at a CAGR of 7.2%
- Based on material, the metal segment accounts for a CAGR of 6.1%
- By end-use, the telecommunication segment is expected to expand at a CAGR of 5.8% during the forecast period
- North America to emerge as a promising market, capturing a CAGR of 6.2%
- United Kingdom to be an opportunistic market, expected to capture a CAGR of 6.1% during the forecast period.
Competitive landscape:
Prominent players in the insulated wires and cables market are Amphenol Corporation; Belden, Inc.; Amhereo Technology Pty Ltd.; Akcine bendrove Lietuvos pastas; Artesyn Embedded Power among others
- In July 2022 – Amphol Industrial operation enhanced its Amphe-Lite connector series to meet the increasing demand for fiber optic interconnection applications in medical, security, oil & gas, and grid industries. Amphe-Lite fiber optic termini transmit and optical laser with high speed, high reliability, EMI/RFI immune and digital transmission in harsh environments
- In June 2020- Belden Inc. a leading global supplier of speciality networking solutions, announced its premier redistribution partner OmniCable and WireXpress in United States
- In April 2020 – Balden Inc. developed a new fiber solution that allows data centers to create reliable, robust, and high-performance infrastructure. These solutions include DCX optical distribution frame, Fibre Express Flexible Ribbon Cable, 1.6 mm multi-fiber trunks, and fiber MPO Trunks.
Know More about What the Insulated Wires and Cables Market Report Covers
Future Market Insights offers an unbiased analysis of the global insulated wires and cables market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the insulated wires and cables market, the market is segmented based on material and end-use across five major regions.
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Key Segments Profiled:
By Type:
- Metal
- Plastics
- Optical Fibre
By End-Use:
- Telecommunication,
- Power
- Electronics
- Construction
- Others
By Region:
- North American
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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