Wires And Cables Global Market To Reach Value Of About $308 Billion In 2025
9 Feb, 2021
The wires and cables market consists of the sales of new wires and cables by entities (organizations, sole traders and partnerships) that manufacture insulated fiber optic cables which are network cables containing strands of glass fibers inside an insulated case, and coaxial cables and other insulated nonferrous wires which are copper and aluminum wires used by industries including energy, automotive, telecoms and others. The wires and cables market does not include sales from services, repair and maintenance of wires and cables.
Global Wires And Cables Market Size And Drivers:
The global wires and cables market is expected to grow from $213.38 billion in 2020 to $232.13 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The market is expected to reach $308.02 billion in 2025 at a CAGR of 7%. Technological advances in the communication industry are expected to be a key driver of the wires and cables market.
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Trends In The Global Wires And Cables Market
The demand for miniature connectors is growing rapidly in industries such as mobile technology, aerospace, defense and medical equipment to enhance connectivity and minimize space in electrical and electronic devices. Miniature connectors, also known as micro connectors, include subminiature, micro miniature and ultra-micro miniature connectors. Micro connectors are rectangular cross sections that carry power and data. Miniature connectors can handle about 10 Gbps data and advance miniature board to board connectors can handle about 20 Gbps data.
Global Wires And Cables Market Segments:
The global wires and cables market is further segmented based on type, end-use industry, sales channel, mode and geography. By Type: Other Cables, Fiber Optical Cable, Coaxial Cables. By End-Use Industry: Energy, Telecommunications, Building & Construction, Industrial Manufacturing, Automotive, Medical Equipment, Others. By Sales Channel: OEM, Aftermarket. By Mode: Online, Offline. Subsegments Covered: Insulated Cables, Shipboard Cables, Aircraft And Automotive Cables, Single-Mode Fiber Cable, Multimode-Fiber Cable. By Geography: The global wires and cables market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global wires and cables market, accounting for 52% of the total market.
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Wires And Cables Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides wires and cables market overviews, analyzes and forecasts market size and growth for the global wires and cables market, wires and cables market share, wires and cables market players, wires and cables market segments and geographies, wires and cables market’s leading competitors’ revenues, profiles and market shares. The wires and cables market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.