Wire and Cable Market Size, Share, Growth, Trends by 2028

According to the new research report published by The Insight Partners on "Wire and Cable Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Cable, Wire, and Push-Pull Controls) and End Use Industry (Aircraft, Transportation, Medical, Marine, and Construction)" consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The wire and cable market is expected to grow from US$ 153,334.35 million in 2022 to US$ 224,402.27 million by 2028; it is estimated to grow at a CAGR of 6.6% from 2022 to 2028.

Get a Sample Copy at - https://bit.ly/3Ymo9SW

With significant investment in commercial construction and infrastructural and institutional projects such as railway stations, bus terminals, airports, and educational institutions, the construction industry is expanding dramatically in developing countries of APAC, MEA, and SAM. This is driving the wire and cable market. A few economies intend to grow their industrial sectors by fostering a welcoming business environment for foreign investors and providing assistance to domestic firms. Further, a few initiatives were taken by governments to assist industrialization, including Made in China 2025, Make in India, Saudi Arabia's National Industrial Development & Logistics Program, and the UAE Strategy for the Fourth Industrial Revolution. Moreover, several multinational companies are shifting their manufacturing operations to low-cost economies in ASEAN, which is expected to increase the number of industrial buildings, which supports the demand for wire and cables across the wire and cable market.

Cable manufacturing businesses are increasing their capacity to produce fire-resistant cables to meet the rising demand for products from the construction industry. Flame spread is prevented by using fire-resistant cables. The Prysmian Group, Nexans, TPC Wire & Cable Corp., Cavicel, and Cleveland Cable provide fire-resistant cables. Thus, the growth in the construction sector is driving the demand for wire and cable, which is fueling the wire and cable market growth.

Inquire before Buying at - https://bit.ly/3RCTNtt

Rising Use of Electric Vehicles

Electric vehicles are now a crucial component of the automotive sector and offer a solution to improve energy efficiency and reduce emissions of pollutants and other greenhouse gases. The primary growth factors are rising environmental concerns and beneficial government measures. The International Energy Agency claims that the People's Republic of China (China), responsible for half of the growth of electric vehicles, was the primary driving force behind the increase in electric vehicle (EV) sales in 2021. China sold 3.3 million more vehicles in 2021 than any other country in 2020. Following the 2020 boom, European sales continued to expand strongly (up 65% to 2.3 million), and after two years of decline, sales in the US increased to 630,000. Similar patterns emerged in the first quarter of 2022, with vehicle sales in China more than doubling compared to the first quarter of 2021 (accounting for the majority of worldwide growth), rising by 60% in the US and 25% in Europe.

The report includes the segmentation of the global Wire and Cable market as follows:

Based on type, the wire and cable market is segmented into cable, wire, and push-pull controls. The wire segment held the largest wire and cable market share. The growth of the manufacturing sector and the power, residential, and commercial infrastructure directly affect the demand for wire and cables. Due to this, the government's initiatives on several fronts, including power, housing, infrastructure, and digitization, will soon result in significant business for the wire industry. The industry outlook will be attributed to a growing propensity for the growth of current grid networks and a shortage of effective electric infrastructure over the forecast period.

The wire and cable market is segmented into type, end use industry, and geography. Based on type, the market is segmented into cable, wire, and push-pull controls. Based on end use industry, the market is categorized into aircraft, transportation, medical, marine, and construction. Based on geography, the wire and cable market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Further, APAC accounted for a significant share of the overall wire and cable market size.

The List of Companies - Wire and Cables Market
ASK Automotive Pvt. Ltd
R KABEL
Bergen Cable Technology
Elliott Manufacturing
Carl Stahl Sava Industries, Inc.
LEXCO CABLE
Cablecraft
TOP CABLE
Guangdong Jinlianyu Cable industrial Co., Ltd
HENAN SANHENG INDUSTRIAL CO., LTD.

Buy Complete Report at - https://bit.ly/3JG62Dz

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

This release was published on openPR.