Wires And Cables Market Definition
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 covered in this report does not include sales from services, repair and maintenance of wires and cables.
The communications wires and cables covered in this report include copper, aluminum and fiber optic (glass and plastic) data cables sold for B2B and B2C purposes.
Wires And Cables Market Size
The global supercapacitors/ultracapacitors market reached a value of nearly $136.7 billion in 2018, having grown at a compound annual growth rate (CAGR) of more than 3.0% since 2014.
The growth of the market in the historic period can be attributed to the rise in electricity consumption in both the developed and developing countries, renewal of power transmission networks in developed countries, growth in the automobile industry, and growth in emerging economies.
Faster growth of the market in the forecast period than in the historic period can be attributed to the growing popularity of Ethernet, expected growth in the medical devices industry and advances in communications technology.
Wires And Cables Market Drivers
The key drivers of the wires and cables market include:
Renewal Of Power Transmission Networks – The wires and cables market was driven by the renewal of existing power transmission networks, especially in developed economies. This was mainly driven by the increase in government investments in power infrastructure. For example, in 2013, the US government implemented regulations for modernization and improvement of electric grids to reduce the economic losses associated with power outages. It also established mandatory electric grid reliability standards and incentivized transmission and distribution (T&D) investments. The renewal of power transmission networks led to an increase in the demand for energy wires and cables, driving the market.
Wires And Cables Market Restraints
The key restraints on the wires and cables market include:
Volatile Metal Prices – During the historic period, the global prices of metals such as copper, aluminum, steel, and other metals (which are key raw materials for manufacturing wires and cables) were volatile, which restrained the growth of the wires and cables market. During 2014-2018, steel prices showed an overall growing trend with tendencies to drop in the first half of each year, while world prices of copper showed a significant drop in 2016, after which they almost doubled in 2017 and 2018. The volatility of metal prices created difficulties for wires and cables manufacturing companies to secure stable purchasing contracts, restraining the growth of the market.
Wires And Cables Market Trends
Major trends influencing the wires and cables market include:
Increasing Use Of Polymer Optic Fibers – Polymer optic fibers are widely being used in the automotive, aircraft manufacturing, electronics and other industries apart from the telecommunications industry. Polymer optic fibers, which are similar to glass optic fibers, are made with polymers and transmit light through the core of fibers. They comprise of polymethyl methacrylate (PMMA) that facilitates light transmission along with fluorinated polymer which is the cladding material. Polymer optic fibers have a greater flexibility and are lighter in weight than glass optic fibers, paving way for them to be used in application not requiring long distances such as in car networks, home networks and industrial networks. Polymer optic fibers are also comparatively less expensive than glass optic fibers. They support bit rates of up to 10Gbps. Polymer optic fibers applications include Internet of Things, home networking, sensors for structural health monitoring. Major companies offering polymer optic fibers include Mitsubishi Rayon, Asahi Kasei, Asahi Glass and Fujifilm.
Increasing Adoption Of Fast Charging Cables – Advances in the smartphone technologies such as fast-charging technology are increasing the demand for fast-charging cables. Fast-charging cables are active copper cables for data transmission that use one or numerous silicon chips (semiconductors) to boost the performance of the cables. In combination with new smartphone technology, these cables allow the charging times of smartphones to drop to around 30 minutes, a change which is smartphone manufacturing companies’ biggest unique selling point to attract new customers. For example, the newly launched OnePlus smartphones use Dash Charge technology that in combination with fast-charging cables attract customers with their fast charging feature.
Opportunities In Wires And Cables Market
Opportunities – The top opportunities in the global wires and cables market will arise in the fiber optical cables segment which will gain $21.14 billion of global annual sales by 2022. The wires and cables market size will gain the most in China. wires and cables market-trend-based strategies include investments in technologies, increasing production of fire resistant cables and collaboration to provide technologically equipped products. Player-adopted strategies in the wires and cables industry include expansion into newer geographies, adoption of digital technologies, focusing on distribution and expansion through joint ventures.
Wires And Cables Market Segmentation
The wires and cables market is segmented by type of product and by end user
By Type Of Product -
The wires and cables market can be segmented by type of product
Other cables was the largest segment in the global wires and cables market in 2018, accounting for 72.6% of the market. This is attributed to the large-scale use of cables such as insulated cables, shipboard cables and aircraft and automotive cables in end use markets such as automotive, aircraft manufacturing, and construction.
- a) Other Cables
- b) Fiber Optic Cable
- c) Co-axial Cable
By Geography- The wires and cables market is segmented into
Asia-Pacific is the largest market for wires and cables, accounting for 42.0% of the global market in 2018. It was followed by Western Europe, North America and then the other regions. Going forward, Africa and South America will be the fastest growing regions in the wires and cables market, where growth will be at CAGRs of 11.4% and 8.4% respectively.
- o North America
- o Western Europe
- o Asia Pacific
- Hong Kong
- New Zealand
- South Korea
- o Eastern Europe
- Czech Republic
- o South America
- o Middle East
- Saudi Arabia
- o Africa
- South Africa
Wires And Cables Competitive Landscape
Major Competitors are:
Other Competitors Include:
- • Sumitomo Electric Industries Ltd.
- • LEONI AG
- • South Wire Company LLC
- • Furukawa Electric Industries Ltd.
- • Amphenol Corporation
- • Intel Corporation
- • Nexans
- • Heatsense Cables
- • JDR cablesCellergy Ltd.
- • UK Cables
- • Kyocera Corp
- • Polycab Wires Pvt. Ltd
- • Sterlite Technologies Ltd
- • Finolex Cables Ltd.
- • Havells India Ltd
- • Hengtong
- • S.G.H. Electric Wire & Cable Co Ltd
- • Jiangnan Group Limited
- • Nordiske Kabel- og Traadfabriker
- • Tomskcable LLC
- • Irkutskkabel JSC
- • TFKable
- • Special Systems And Technologies
- • Telcon Fios
- • Saudi Cable Company
- • Middle East Fiber Cable Manufacturing Company
- • ZTT International
- • Global Emirates Cables & System Industries
- • TELDOR Cables & Systems Ltd
- • Abhar Cable Co
- • Nigeria Wire and Cable Plc
- • CBI Electric Telecom Cables
- • Geoelis Cables Ltd