Wire & Cable Research: the market accounted for 34.37% of global share in 2024 and is expected to reach 34.77% by 2031

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report "Wire & Cable- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031". Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2025-2031), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.

The global market for Wire & Cable was estimated to be worth US$ 115480 million in 2024 and is forecast to a readjusted size of US$ 166020 million by 2031 with a CAGR of 5.4% during the forecast period 2025-2031.

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Wire & Cable Market Summary

Wires and cables are fundamental conductive components designed for transmitting electrical power or signals across various industries. A wire typically comprises a single conductor, commonly made of copper or aluminium, whereas a cable integrates multiple insulated conductors, often shielded with protective sheathing for enhanced durability and safety. These components serve critical roles in power distribution, telecommunications, industrial automation, and infrastructure systems, ensuring reliable energy transmission and signal integrity under diverse operational conditions.

The global wire and cable industry is entering a period of sustained growth, fueled by major infrastructure investments and the global energy transition. According to QYResearch, the market is projected to expand from US$ 455.43 billion in 2024 to US$ 614.53 billion by 2031, representing a compound annual growth rate of 4.37%. This growth trajectory reflects fundamental demand across multiple sectors, with regional variations showing particular strength in China, where the market accounted for 34.37% of global share in 2024 and is expected to reach 34.77% by 2031, driven by both domestic infrastructure needs and manufacturing capabilities.

Product demand is being shaped by several key trends. Power cables remain the dominant product category, supported by large-scale grid upgrades and renewable energy projects worldwide. The increasing electrification of transportation systems and industrial facilities is creating strong demand for specialized cabling solutions. In the construction sector, growing requirements for energy-efficient buildings and safety-compliant wiring systems are influencing product development. Industrial applications continue to demand more durable and high-performance cable solutions for harsh operating environments.

The competitive landscape reflects the industry's dual nature. On one hand, global players like Prysmian, Nexans and Sumitomo Electric maintain strong positions in international markets and high-value project segments. On the other hand, regional manufacturers, particularly in China where companies such as Jiangsu Shangshang Cable and Far East Cable operate, have grown significantly by serving local infrastructure projects and leveraging domestic supply chains. China's position as both the world's largest cable producer and consumer has created a robust ecosystem where local manufacturers meet the majority of domestic demand while increasingly competing in export markets.

Future industry development will be influenced by several critical factors. The transition to renewable energy systems is creating demand for new cable technologies capable of handling higher voltages and more variable operating conditions. Sustainability concerns are driving innovation in materials and manufacturing processes, with increasing focus on recyclability and reduced environmental impact. While price competition remains intense in standard product categories, technological differentiation and value-added services are becoming key competitive advantages. The industry's growth prospects remain strong, but success will increasingly depend on the ability to adapt to evolving technical requirements and regional market conditions.

According to QYResearch Top Players Research Center, the global key manufacturers of Wire & Cable include Baosheng Science and Technology, Jiangsu Shangshang Cable, Hengtong, Shanghai QiFan Cable, FAR EAST CABLE, Gold Cup Electric Apparatus, Jiangnan, TBEA, Zhejiang Zetastone Wire & Cable, Qingdao Hanhe Cable, etc. In 2024, the global top 10 players had a share approximately 18.0% in terms of revenue.

In terms of product type, currently Power Cables is the largest segment, hold a share of 39.92%.

In terms of product application, currently Electric Power Engineering is the largest segment, hold a share of 48.57%.

The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.

The Wire & Cable market is segmented as below:
By Company
Prysmian
Nexans
KEI Industries
LS Cable & System
Sumitomo Electric
Fujikura
Furukawa Electric
NKT
TF Kable
Qingdao Hanhe Cable
Orient Cables
YOFC
Hengtong Group
ZTT Group
Baosheng Science & Technology Innovation
Far East Smarter Energy

Segment by Type
Electric Power Cable
Industrial Cable
Telecom & Data Cable

Segment by Application
Electric Utility
Telecoms
Construction and Infrastructure
Transportation & Mobility
Industrial
Others

Each chapter of the report provides detailed information for readers to further understand the Wire & Cable market:

Chapter 1: Introduces the report scope of the Wire & Cable report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2020-2031)
Chapter 2: Detailed analysis of Wire & Cable manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2020-2025)
Chapter 3: Provides the analysis of various Wire & Cable market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2020-2031)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2020-2031)
Chapter 5: Sales, revenue of Wire & Cable in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2020-2031)
Chapter 6: Sales, revenue of Wire & Cable in country level. It provides sigmate data by Type, and by Application for each country/region.(2020-2031)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2020-2025)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Benefits of purchasing QYResearch report:

Competitive Analysis: QYResearch provides in-depth Wire & Cable competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis: QYResearch provides Wire & Cable comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.

and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size: QYResearch provides Wire & Cable market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.

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