Wire and Cable Market Size, Share, Growth, Report 2025 to 2034

Wire and Cable Market Size and Growth 2025 to 2034

The global wire and cable market size was valued at USD 220.61 billion in 2024 and is expected to be worth around USD 335.86 billion by 2034, growing at a compound annual growth rate (CAGR) of 4.29% over the forecast period from 2025 to 2034. The wire and cable market is picking up the pace regarding the challenges of the construction industry turned towards eco-friendly growth, green certifications, and net-zero commitment. The requirements of modern infrastructure go beyond high electrical performance and require materials to have a lower embodied carbon emission, utilize fewer resources and allow more circularity in climate conscious projects. The emergence of more exacting environmental regulation, market-leading corporate responsibilities on ESG and the necessity to respond to the uncontrollable effects of climate caused by warming planet are fuelling this transformation.

Why wire and cable?

One of the main supports of sustainable building are Wire and Cables-They provide greater efficiency in energy use, increased life durability and reduced CO2 emissions in the lifecycle of the building. Electrical systems are becoming greener because of innovations in recyclable conductors; low-smoke zero-halogen (LSZH) insulation; bio-based polymers; and enhanced conductor designs, but without sacrificing performance. The solutions cut across the different sectors of operation namely, the Residential, Commercial, Industrial, and Infrastructure sectors, aimed at achieving global decarbonization targets and providing improved resource efficiency in projects. Employing sustainable wire and cable technologies can help make the built environment safer, stronger, and more ready to transit to green.

Wire and Cable Market Report Highlights

• By Region, North America accounted for a 38.9% revenue share in 2024. Its leadership comes from accelerated grid modernization, EV charging network rollouts, and renewable integration programs, supported by the U.S. Department of Energy’s $3.5 billion grid resilience grant initiative launched in June 2024.
• By Material Type, the metal segment held a 61.2% revenue share in 2024. Superior electrical conductivity and durability underpin their dominance, reinforced by the U.S. power grid upgrade project announced in August 2024 to replace aging transmission lines with high-performance copper and aluminum cables.
• By Product Type, the power cables captured a 54.5% revenue share in 2024. Their role in stable electricity transmission was highlighted when India began its large-scale underground urban cabling expansion in May 2024 to reduce outage frequency in metro cities.
• By Installation, the underground installations segment held a 39.8% revenue share in 2024. Safety, aesthetics, and outage prevention drove demand, showcased by the UK’s USD 1.74 billion London Power Tunnels Phase 2 project progressing in March 2024 to modernize London’s electricity network.
• By Voltage, the high-voltage segment has accounted for a 16.7% revenue share in 2024. Their efficiency in long-distance, large-capacity transmission was proven by China’s completion of a 1,100 kV UHVDC line in September 2024 linking Xinjiang to eastern provinces.
• By End-user, the power transmission & distribution segment led with a 45.1% revenue share in 2024. Its leadership was reinforced by Saudi Arabia’s NEOM grid interconnection project in July 2024, integrating large-scale renewables into the national power supply.

Wire and Cable Market Trends

• Shift Toward Low-Smoke Zero-Halogen (LSZH) Cables: Calls to utilize LSZH cables are increasing considering the tightening safety requirements in construction and public infrastructure laws. Such cables do not contribute to the emission of a lot of toxic smoke during a fire, which safeguards human life and delicate devices. In January 2024, Prysmian Group introduced a new LSZH product range in the metro rail business in Europe to fulfill the improved safety codes. LSZH technology is also becoming of more favor when applied in densely populated places and closed confinements such as a tunnel, airstrip and information centers. The fact that its use is in compliance with the requirements of green building certifications means that it is trendy and a sustainability-oriented one, as well as a safety-oriented one.
• Smart Cable Monitoring systems integration: Embedded smart cables with installed sensors are emerging as solutions to monitor the real-time performance and predictive maintenance as well as identifying faults. Nexans launched a sensor-integrated industrial energy system cable, which enables companies to cut down downtime by sending failure notifications instantly in October 2023. The digitalization of the energy and construction industries contributes to such a trend. Smart cables enhance reliability of operations, and less energy wastage occurs through quick solving of issues. Their implementation corresponds with the larger trend of Industry 4.0, and IoT-augmented infrastructure.

Report Scope

Wire and Cable Market Dynamics

Market Drivers

• The requirements of Green Building certifications are: Certifications like LEED and BREEAM sustainability are driving up the demand of green wire and cable products. Such standards entitle projects utilising recycling bin products, energy-efficient formations, and goods that emit low emission. In March 2024 a commercial complex in Singapore received BREEAM Outstanding rating with the help of recycled copper wiring. These certifications motivate constructors to use cables that have a green and performance standard. This driver associates complying with increasing business in the market particularly in urban building.
• Electrification and Modernization of Infrastructure in the City Uprights: The activities of electrification by government are generating the market demand on the advance solutions of wire and cable. In July 2023, the Ministry of Power in India replaced some transmission lines in the state of Delhi with higher capacity, heat-resistant cables to capture on less losses. The contemporary city system requires cables that can carry more loads in a safe manner. The included modernization projects are especially relevant to install renewable energy and electric-powered public transport. The pressure of smart cities in the world continues to make this driver powerful and topical.

Market Restraints

• Prices of Raw Material Volatility: Wire and cable are highly produced using copper and aluminum which puts them under vulnerability of commodity price fluctuations. The prices of copper globally increased in May 2023 to over 8,500 dollars per metric ton as a result of disruption in copper supply chains in Chile, which affects costs of manufacturing. This volatility causes producers to correct the prices causing delay in approvals of the projects. Uncertainties of the expenses of raw materials usually do apply to long- term contracts thereby creating financial limitations in the development of major infrastructures.
• Delays in Procedures of Product Approvals: New cable products have to be certified and safety certifications are difficult to meet, and this may slow down time to market entry. In February 2024, one German manufacturer experienced six-months delay in a market release of a new high-voltage cable, because EU safety compliance testing was taking too long. Such delays make innovation stall and also add costs to the manufacturers. Regulations although vital in the progress of safety can affect the process of improving the technology in the market.

Market Challenges

• Spread of Counterfeit Cable: As part of the initial steps towards combating the issue, it is important to point out that counterfeit cable is the source of a significant proportion of cable problems. These cables have a short lifespan hence resulting in a large volume of counterfeit cable. The increase of the fake electrical cables is a threat to security and the economy. Nigerian authorities later on impounded more than 500km of substandard cables purported to be manufactured by a major global manufacturer. The use of counterfeit products may lead to electrical failures in addition to the contracts being involved in a fire that causes legal liabilities to contractors. The way to fight this problem is to increase controls, improved labeling technology and consumer education. It continues to be a big problem in fast-growing urban areas.
• Installation Skill Gaps in New Markets: Those technologies associated with great cable technologies need well trained installers in order to guarantee continuous performance and safety. In 2024 a renewable energy project in Kenya was implemented with delays because of a lack of technicians trained in the deployment of fiber-optic cable. The improper installation due to such gaps in skill can actually end up becoming costly to maintain and inefficient. This is a challenge that highlights the requirement of training programs in the workforce coupled with infrastructure investments.

Market Opportunities

• Recycling and Circular economy initiatives: The increasing advocacy of the circular economy model provides a chance for the companies to manufacture the wire and cable products that can be recycled and reused. In September 2023, A UK recycling company invested with another cable manufacturing company to reclaim used building wiring containing 98% copper. This has a two-fold effect on less waste and a reduction in the cost of raw materials procurement. It is reasonable to expect that the initiatives will enhance the relationship between cable manufacturers and recyclers.
• Bulking up on Renewable Energy Grid Connections: Transmission and distribution cables involved in the renewable energy project need to be of high performance. In November 2023, a 500-megawatt offshore wind farm under construction in the Netherlands awarded a contract of cable supplier to supply 220 kV export cables to tie turbines to mainland grid. Such projects continue to manifest new areas of special cable designs that can resist tough environments. With the ongoing growth of the renewable capacity, cable infrastructure (high-voltage and durable) is becoming an issue of essential need.

Wire and Cable Market Segmental Analysis

Material Type Analysis

Metal: Copper and aluminium based metal cables are treasured as they have high conductive, durable, and load carrying characteristics in communication and electric networks. They excel on power transmission and heavy-industrial purposes. Southwire In June 2024, Southwire increased its capacity in its American copper cable plant as utility projects put pressure on manufacturing capacity. The thermal resistance of copper makes this metal favorable in the urban electrification grids. Overhead long-distance transmission is normally carried on lighter aluminium cables.

Wire and Cable Market Share, By Material Type, 2024 (%)

Polymer: Polymer cables are made of flexible insulation and sheathing, both of plastic materials, which make them weatherproof and safe in insulation with both power cables and communications. They find extensive application in consumer electronics and wiring building, marine wiring. In March 2024, Nexans launched a bio-based polymer insulation on its data cables in a bid to lower environmental impact. The materials also promote low-smoke zero-halogen requirements in delicate building. Polymer cables are flexible and can be applicable in various climatic conditions.

Product Type Analysis

Power Cables: The power cables segment has registered highest revenue share. Power cables are made to convey the electrical energy in relation to the generation, distribution, and transmission points. They comprise low to extra-high voltages with respect to application requirements. In July 2023, LS Cable & System provided 500 kV high-voltage cable in a South Korean grid upgrade. These types of cables play a crucial role in the management of load of urban areas as well as integration of renewable energy. They make sure that there is reliable supply of electricity whether in an overhead or underground system.

Hybrid Cables: Hybrid cables put different types of transmission transmissions (e.g. power and data) together in a single sheath to conserve space and installation cost. They are typical within telecom towers, offshore wind farms, and smart buildings. In February 2024, Prysmian supplied hybrid cables to the 5G rollout project in Germany which will allow the supply of power and fiber-optic connectivity through a single cable. This incorporation reduces infrastructure congestion and generates system efficiency.

Communication Cables: The types of communication cables that transfer both voice and data as well as video include fiber-optic and coaxial. IT, telecom and broadcasting networks cannot be without them. In October 2023, Corning said it would expand its optical fiber plant in North Carolina to meet the rising demand of broadband. A smart city is built around high-speed communication cables as part of a digital infrastructure. They also help anchor defense- or healthcare-missions.

Installation Analysis

Overhead: Overhead cables run on poles or towers to get them above the ground and are both affordable and simple to maintain. They are popular because of their use in long distance electricity transmission. Maharashtra In August 2023, overhead lines were upgraded in India to 132kV and should help cut losses in rural power supply. There is a rapid installation of these systems where the use of underground cable is not feasible. Nevertheless, they are more susceptible to weather related destruction.

Underground: The cable installation is buried under the ground to avoid the effects of weather conditions and direct physical destruction and at the same time improving the overall city aesthetics. They are more desirable in crowded and / or risky locations. In May 2024, London Power Networks finished an underground replacement of cable to enhance more capacity of the grid. These systems need sophisticated insulation materials that can take care of the different soil conditions. There are increased costs of installation but there is increased reliability.

Wire and Cable Market Share, By Installation, 2024 (%)

Submarine: Submarine cables are laid on the seadeep at the bottom linking power grids/communication systems across the bodies of water. They call on maximum durability to resistant pressure and corrosion. Nexans supplied 320 kV submarine cables to this interconnector between the UK and Denmark, in September 2023. On shore wind farms and the internet on a global scale depend on these cables. They are high tech ships and engineering to get them installed.

Voltage Analysis

Low Voltage: Residential, commercial and small industrial applications use low-voltage cables (up to 1 kV). They energize lighting, appliances and control systems. In January 2024, Polycab India introduced a range of cables with low-voltage use that can be energy-efficient in smart households. Such cables are flexible and they are more convenient to fit within small areas. Flame-retardant insulation on low-voltage systems is a common requirement of safety standards.

Medium Voltage: The medium-voltage cables (1,000 to 69,000V) are used in distribution networks which link substation and end-users. They are efficient and insulation can be accommodated. In November 2023 Sumitomo Electric provided medium-voltage cables to an industrial park expansion in Vietnam. They are cables that deal with greater loads without the added complication of extra-high-voltage systems. They are key to the stability of the regional grid and the local industrial development.

Wire and Cable Market Share, By Voltage, 2024 (%)

High Voltage: Long distance transmission of electricity in high-voltage cables (69 kV to 230 kV) is a necessity to ensure low losses. They are incorporated in underground as well as overhead systems. In April 2024, NKT finished an underground high-voltage project in Sweden as a connection between renewable energy sources and the national grid. More sophisticated insulation and jointing methods are needed in such cables. They are important in incorporating renewable energy projects.

Extra-High Voltage: Special bulk power XLPE cables supplying large grid hubs (above 230 kV) are referred to as extra-high voltage (above 230 kV). They require high insulation levels, excellent thermal control and careful fitting. In February 2023, LS Cable & System supplied 500 kV EHV cables to one of the world largest mega interconnection projects in the Middle East. Such cables are needed to facilitate cross-border trading and big-scale integrations of renewables. They are very expensive due to their complex engineering requirement.

End User Analysis

Aerospace & Defense: Aerospace and defence cables are subjected to extreme environments, such as high temperature, vibration and electromagnetic shielding. They are indispensable to aircrafts, satellites and military systems. In May 2023 Carlisle Interconnect Technologies have provided wiring in an aircraft upgrade program of the U.S Air Force. These cables have to go through stringent safety and performance certification. They provide reliability to missions whether made on the civilian and military side.

Construction: The numerous types of cables utilized in this industry include power distribution, lighting, HVAC and communications cables in buildings. The major factors of selection are fire safety, durability, and sustainability. In October 2023 LSZH building wires were installed in a LEED-Certified skyscraper in Dubai in accordance with the green certification requirements. It is common in construction sites to have a temporary wiring as well as permanent ones in place.

IT & Telecommunication: This industry depends on the fiber-optic and copper cables in data-centers, broadband networks, and mobile infrastructure. Unlimited system throughput and fast response time are of primary importance. In March 2024, China Mobile filed a large fiber-optic backbone upgrade by utilizing the ultra low loss optical cables. The sector is guided by 5G implementation and cloud computing needs. The world is transforming digitally on solid cabling.

Power Distribution & Transmission: These utilities rely on cables to transport electricity to the producer of electricity and the consumers. This comes with all the voltage levels, and the types of installations. In July 2023, ABB provided the connection grid cables to a hydroelectric plant in Canada which was needed to deliver power efficiently. T&D networks are concerned with reliability and capacity. The industry is turning more to the green technology of insulation materials.

Others: The industries found in this category are railways, oil and gas, marine as well as mining; these are industries which have hostile operating conditions and thus need special cables to best suit the environment. These are cables that tend to offer increased mechanical protection and chemical resistance. In 2023 August, Tsubaki KabelSchlepp provided drag chain cables on an automated mining project in Australia. Every sub-sector requires customizable designs of cables to face its course of action.

Wire and Cable Market Regional Analysis

The wire and cable market is segmented into several key regions: North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Here’s an in-depth look at each region.

Why is Asia-Pacific region leading the wire and cable market?

• The Asia-Pacific wire and cable market size was valued at USD 85.52 billion in 2024 and is expected to reach around USD 130.65 billion by 2034.

The Asia-Pacific is currently going through high growth due to the rise in infrastructure upgrades and digitalization in this region. Increases are seen in power-data cable systems along with investment to expand high-voltage transmission and rural electrification. Climate-resilient design and energy efficiency have also been given priority in projects by governments. In May 2025, Japan has laid down high voltage underground cabling work on new bullet train route to maximize land. These projects are also creating a demand in the area as far as advanced manufacturing items as well as installation skills are concerned.

What factors are driving North America's momentum in the wire and cable market?

• The North America wire and cable market size was estimated at USD 57.80 billion in 2024 and is projected to hit around USD 88 billion by 2034.

North America is gaining momentum because of electrification projects and increasing stringent environment standard and growth of smart infrastructure. Manufacturers are working on such solutions as environment friendly insulation and hybrid cables, which cater to all the energy requirements as well as connectivity requirements. The aim is grid resiliency and efficiency which is being invested in by the government and privately. In January 2025, a U.S. utility installed an underground medium-voltage cable line in New York, to achieve better transmission reliability. The development is boosting the sustainability of the region in urban and industrial development.

Wire and Cable Market Share, By Region, 2024 (%)

Europe Wire and Cable Market Trends

• The Europe wire and cable market size was accounted for USD 49.42 billion in 2024 and is expected to surpass around USD 75.23 billion by 2034.

In Europe, wire and cable industry is a policy in the context of green policies, integration of renewables, and circular economy programs. The center of attention is on recyclable conductor materials, designs that are fire-safe, and high-quality monitoring systems. The governments are modernizing the grids to consume more renewable power and to enhance aesthetics in an urban environment. In February 2025, Germany had placed submarine power cables that linked the North Sea wind farms to the national grid. This trend is also resulting in the need to have high-performance, long-life cable solutions in numerous industries.

What factors indicate that LAMEA is in the growth phase of the wire and cable market?

• The LAMEA wire and cable market was valued at USD 27.58 billion in 2024 and is anticipated to reach around USD 41.98 billion by 2034.

The LAMEA market is growing with the increased use in renewable energy, smart city and updated distributors. Nations are embracing cables that are used in harsh weather conditions, ocean, and high energy transfer products. Domestic and international investment are helping to upgrade the infrastructure. In April 2025, UAE linked up a huge solar farm over extra-high voltage cables designed to operate in desert environments. Such developments are making the region an emerging sustainable power connectivity hub.

Wire and Cable Market Top Companies

• Hengtong Optic-Electric Co Ltd.
• Prysmian Group
• Sumitomo Electric Industries, Ltd.
• Furukawa Electric Co., Ltd.
• Leoni AG
• Jiagnan Group
• General Cable Corporation
• LS Cable & System Ltd
• TPC Wire & Cable Corp
• Southwire Company, LLC
• Polycab Wires Private Limited
• Nexans S.A.
• Hitachi Metals Ltd
• Far East Cable Co., Ltd.

Recent Developments

• In April 2024, Prysmian has entered into a definitive agreement to acquire Encore Wire for $290 per share in cash, valuing Encore Wire at an enterprise value of approximately €3.9 billion and representing a significant premium to recent share prices. This strategic deal will strengthen Prysmian’s position in North America, enhance its business portfolio, and broaden its product offerings, with expected pre-tax EBITDA synergies of about €140 million within four years. The acquisition, unanimously approved by both companies’ boards, will be financed through a mix of Prysmian’s cash and new debt facilities, and is anticipated to close in the second half of 2024 following shareholder and regulatory approvals.
• In June 2025, Nexans has completed the acquisition of 100% of Cables RCT, a leading Spanish low-voltage cable producer known for its expertise in flexible fire safety solutions and its strong, modern industrial base in Southern Europe. With USD 0.15 billion revenue in 2024 and operations across 30 countries, Cables RCT’s addition reinforces Nexans’ presence and capabilities in key geographies, especially Iberia. The move will accelerate Nexans’ profitable growth, drive innovation, and generate significant shareholder value by leveraging synergies and production upgrades, while ensuring continuity for Cables RCT’s workforce and customers and positioning Nexans for leadership in electrification-focused markets.

Market Segmentation

By Material Type

• Metal
• Polymer

By Product Type

• Power Cables
• Hybrid Cables
• Communication Cables

By Installation

• Overhead
• Underground
• Submarine

By Voltage

• Low Voltage
• Medium Voltage
• High Voltage
• Extra-High Voltage

By End-user

• Aerospace & Defense
• Construction
• IT & Telecommunication
• Power Transmission & Distribution
• Oil & Gas
• Energy & Power
• Automotive
• Others

By Region

• North America
• APAC
• Europe
• LAMEA