Wire & Cable Market Forecast to Hit USD 304.13 Billion by 2030, Fuelled by Renewable Energy and Digital Infrastructure

Mordor Intelligence has published a new report on the Wire and Cable Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

Wire and Cable Market Overview

The global wire and cable market is poised for robust growth, with its value projected to rise from around USD 233.36 billion in 2025 to approximately USD 304.13 billion by 2030, representing a compound annual growth rate (CAGR) of 5.44%. The market's expansion is being driven by large-scale investments in electricity grids, the rollout of fiber broadband, offshore wind farms, electric vehicles, and data-center construction. As governments and corporations channel more money into green energy infrastructure and digital connectivity, wire and cable manufacturers are responding with capacity expansions, localized production, and new product types.

Report Overview: https://www.mordorintelligence.com/industry-reports/wire-and-cable-market?utm_source=openpr

Wire and Cable Market Key Trends
1. Shift Toward High‐Voltage and Offshore Wind Cables

The fastest-growing segment lies in resorting to extra- and high-voltage cables (> 35 kV), expected to grow at 7.9% CAGR through 2030.

Offshore wind projects, such as those in the North Sea and East Asia, are creating strong demand for high-capacity submarine export cables. For instance, North Sea offshore wind farms will require over 8,000 km of export links by 2030. In response, key suppliers like Prysmian, NKT, and Nexans have been expanding production, vessel fleets, and plant capacities.

2. Rapid Expansion of Fiber‐Optic Infrastructure

Though power cables remain the dominant product (61% revenue share in 2024), fiber‐optic cables are forecasted to experience the fastest CAGR at 8.6% through 2030.

Driven by government funding and commercial demand especially for FTTH (fiber-to-the-home) fiber-optic deployment is becoming widespread in emerging markets like India, Indonesia, and the Philippines.

Even industrial and smart-building applications are embracing fiber, leveraging its immunity to electromagnetic interference and lightweight profile.

3. Transition to Alternative Conductor Materials

Copper remains dominant at 68% of conductor-based revenues in 2024, but optical glass/polymer conductors are growing at a sharp 9.2% CAGR.

This shift is being influenced by high-speed data center demand and environmental rules-particularly in regions focused on low-carbon procurement.

Meanwhile, aluminum is gaining ground in power transmission and EV cable harnesses due to its lighter weight and lower carbon footprint when produced via cleaner methods.

Wire and Cable Market Segmentation:

By Voltage

Extra- and High-Voltage (Greater Than 35 kV)

Medium-Voltage (1-35 kV)

Low-Voltage (Less Than 1 kV)

By Cable Type

Power Cable

Fiber-Optic Cable

Signal and Control Cable

Coaxial and Data Cable

By Conductor Material

Copper

Aluminum

Optical Glass / Polymer

By Installation

Overhead

Underground

Submarine

By End-User Vertical

Construction - Residential

Construction - Commercial

Power Infrastructure (Utilities and Renewables)

Telecommunications and Data Centers

Oil and Gas and Petrochemicals

Automotive and Mobility

Industrial Manufacturing

By Geography

North America

United States

Canada

Mexico

South America

Brazil

Argentina

Rest of South America

Europe

United Kingdom

Germany

France

Italy

Rest of Europe

Middle East and Africa

Saudi Arabia

UAE

South Africa

Rest of Middle East and Africa

Asia-Pacific

China

Japan

India

South Korea

Rest of Asia-Pacific

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Key Players
Prysmian Group: An Italy-based global leader in energy and telecom cables, known for its extensive high-voltage and submarine cable projects worldwide.

Nexans: A France-headquartered manufacturer specializing in cable solutions for power grids, offshore wind, and sustainable electrification.

Fujikura Ltd.: A Japanese company offering a broad portfolio of fiber-optic and electrical cables, with strong presence in telecom and automotive sectors.

Southwire Company, LLC: A major U.S. supplier of building wire and utility cables, with a focus on North American energy and construction markets.

LS Cable & System Ltd.: A South Korean manufacturer providing power and communication cables, actively serving renewable energy and export markets in Asia and beyond.

Conclusion
The wire and cable market is steadily advancing in response to growing energy needs, digital connectivity, and infrastructure expansion. As industries modernize and regions invest in clean energy, data networks, and urban development, the demand for reliable and efficient cable systems continues to rise. With a broad range of applications spanning power, telecom, manufacturing, and mobility, the market remains central to enabling these shifts. Backed by technological improvements and strategic capacity expansions from key manufacturers, the sector is well-positioned to support global development priorities in the years ahead.

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