Press release
Connecting the World: Global Wires and Cables Market to Surge to $321.58 Bn by 2028 || Berkshire Hathaway Inc., Sumitomo Electric Industries Ltd., Eaton Corporation plc, Prysmian Group S.p.A., TE Connectivity Ltd., Corning Incorporated
Wires And Cables Global Market Report 2024
The Business Research Company presents an extensive market research report on the Wires And Cables Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The wires and cables market size has grown strongly in recent years. It will grow from $243.37 billion in 2023 to $258.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to automotive industry growth, telecommunications boom, power transmission networks, consumer electronics demand, growth of the manufacturing sector.
The wires and cables market size is expected to see strong growth in the next few years. It will grow to $321.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to demand for high-speed data transmission, fiber optic expansion, renewable energy projects, smart cities development, e-commerce growth. Major trends in the forecast period include 5g network expansion, internet of things (iot), digitalization in industries, flexible and lightweight materials, e-mobility infrastructure, recyclability and sustainability.
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Key Market Players:
Major companies operating in the wires and cables market report are Berkshire Hathaway Inc., Sumitomo Electric Industries Ltd., Eaton Corporation plc, Prysmian Group S.p.A., TE Connectivity Ltd., Corning Incorporated, Amphenol Corporation, CommScope Holding Company Inc., Southwire Company LLC, Nexans S.A., Motion Industries Inc., Furukawa Electric Co. Ltd., Hengtong Optic-Electric Co. Ltd., Leoni AG, Fujikura Ltd., Endress+Hauser Group International AG, Belden Inc., Polycab India Limited, KEI Industries Limited, EMCORE Corporation, TELE-FONIKA Kable S.A., New England Wire Technologies Inc., Dacon Systems Inc., Waskönig & Walter GmbH, Guardian Industries Corporation, Wilms Group, NKT A/S, Shanghai Shenghua Group Co. Ltd., ABA Industry Group Co. Ltd., American Wire Group, Joseph Fazzio Inc.
Market Drivers:
Technological advances in the communication industry are expected to be a key driver of the wires and cables market. Advances in fiber optic networks and rising investments in high-capacity network infrastructure and wired broadband technologies would lead to an increase in the demand for fiber optic cables. Fiber optic cables support higher bandwidths and faster data transmission than standard coaxial cables. Therefore, an increase in fiber optics demand would support the manufacturers of new and advanced fiber optic cables.
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https://www.thebusinessresearchcompany.com/report/wires-and-cables-global-market-report
The wires and cables market covered in this report is segmented -
1) By Type: Other Cables, Fiber Optical Cable, Coaxial Cables
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use Industry: Energy, Telecommunications, Building & Construction, Industrial Manufacturing, Automotive, Medical Equipment, Other End-Users
Subsegments Covered: Insulated Cables, Shipboard Cables, Aircraft And Automotive Cables, Single-Mode Fiber Cable, Multimode-Fiber Cable
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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