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Wires And Cables Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : Berkshire Hathaway Inc., Sumitomo Electric Industries Ltd., Eaton Corporation plc
Wires And Cables Global Market Report 2024
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.
Market Overview -
Wire and cable are an uninsulated single conductor (which is mostly made of copper or aluminum) that carries electricity. Communication and energy cables are two or more insulated wires wrapped in one jacket that carry, data, or both. Communication cables carry electricity usually at lower voltage levels than regular energy transmission cables.
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Role Of Technological Advancements In Driving The Fiber Optic Cables Market
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.
Competitive Landscape -
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.
Rising Demand For Miniature Connectors For Enhancing Connectivity And Space Efficiency Across Industries
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 sub- miniature, 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 advanced miniature board-to-board connectors can handle about 20 Gbps data. For instance, some of the major companies offering miniature connectors include AMETEK, Omnetics, Amphenol, and Molex.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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