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Global Insulated Wires and Cables Market to Reach $218.3 Billion by 2026
SAN FRANCISCO, May 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Insulated Wires and Cables - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 18; Released: May 2021
Executive Engagements: 11913
Companies: 513– Players covered include ABL Electronic Supplies, Inc.; AFC Cable Systems, Inc.; AFL; Amphenol Corp.; Aptiv PLC; Asia Pacific Wire & Cable Corporation Limited; Belden, Inc.; Cable USA; Carlisle Interconnect Technologies; Cerrowire LLC; Coleman Cable, Inc.; CommScope, Inc.; Corning Incorporated; Ducommun LaBarge Technologies; Electrical Components International; Encore Wire Corporation; Finolex Cables Ltd; Fujikura Group; Furukawa Electric Company Limited; General Cable Corporation; Hitachi Metals, Ltd.; Leviton Manufacturing Company, Inc.; LS Cable & System Limited; MOLEX, Inc.; NEXANS SA; NKT Cables Group GmbH; Olex Cables Limited; Permanoid Ltd.; Prysmian Group S.p.A.; Rea Magnet Wire Company, Inc.; Southwire Company, LLC; Sumitomo Electric Industries Ltd.; Superior Essex Incorporated; TE Connectivity; Tele-Fonika Kable S.A.; The Okonite Company and Others.
Coverage: All major geographies and key segments
Segments: Material (Metal, Plastic, Optical Fiber); End-Use (Telecommunications, Power, Electronics, Construction, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Insulated Wires and Cables Market to Reach $218.3 Billion by 2026
Insulated wires and cables today enjoy an almost ubiquitous presence in the construction, electrical and electronics, power, and telecommunication industries. As a medium which transfers electricity, these units deliver the crucial electrical fuel that powers electrical aswell as electronic components. Amid the COVID-19 crisis, the global market for Insulated Wires and Cables estimated at US$158.6 Billion in the year 2020, is projected to reach a revised size of US$218.3 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Metal Wires & Cables, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$139.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plastic Wires & Cables segment is readjusted to a revised 5.9% CAGR for the next 7-year period. In the post COVID-19 period, the global market will receive a major push from the strong demand for fiber optical cables and polymer optic fibers from the electronics, aircraft manufacturing and automotive industries. These fibers are made using polymers and intended to transmit light signals. Products such as polymethyl methacrylate (PMMA) are suitable options for transmission of light.
The U.S. Market is Estimated at $21.5 Billion in 2021, While China is Forecast to Reach $65.7 Billion by 2026
The Insulated Wires and Cables market in the U.S. is estimated at US$21.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$65.7 Billion by the year 2026 trailing a CAGR of 6.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR. A key trend of note is the growing popularity of fast-charging cables on account of advancements in smartphone technologies. Based on active copper, these cables support data transmission in applications using a single or multiple silicon chips for enhancing cable performance. Recent advances related to smartphone technology have enabled these cables to offer a fast charging time of just 30 minutes, providing mobile phone players with a USP for attracting customers.
Optical Fiber Segment to Reach $28.7 Billion by 2026
Globally, broadband subscribers on cable, fiber optic and DSL platforms continue to rise. However, there is a distinct shift towards fiber optics from DSL platform among customers, as operators' make efforts to extend their fiber optic-related infrastructure facilities. This trend is not just limited to developed countries, but is also seen in developing markets. Optical fiber cable deployment is also witnessing a shift towards local installations, as against the earlier focus on regional and long-haul deployments. This shift is largely attributed to the focus on FTTx, which focuses on providing dense applications in cities and neighborhoods. Intensifying efforts to provide FTTx connectivity to newer locations and customers bodes well for growth in this segment. In the global Optical Fiber segment, USA, Canada, Japan, China and Europe will drive the 6.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$12.8 Billion in the year 2020 will reach a projected size of US$19.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.4 Billion by the year 2026, while Latin America will expand at a 6.7% CAGR through the analysis period. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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