What is the Projected Market Size and Growth Rate of the Global Cables Market?
The global cables market has observed significant growth in recent years, expanding from $92.49 billion in 2024 to $99.49 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. Factors such as industrial revolution impact, expansion of electricity grids, urbanization, construction, and automotive industry growth, as well as the rise in televisions and electronics, have been crucial in driving this historic growth.
Looking ahead, robust growth is projected for the cables market over the coming years, with the market expected to reach $138 billion in 2029, growing at a CAGR of 8.5%. This forecasted growth is primarily attributed to sustainability initiatives, increasing security and surveillance needs, advancements in space exploration and satellite communication, shifts in the automotive industry, and rising energy efficiency requirements. Other key trends that could shape the market in the forecast period are digital transformation, renewable energy expansion, 5G and broadband rollout, electric vehicle adoption, smart homes, and IoT.
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What Are the Key Drivers of the Cables Market Growth?
The expansion of the cables market can largely be attributed to increased government investments in the transmission and distribution of electricity. The process of large-scale movement of high-voltage electricity from power plants to substations, known as electricity transmission, along with the distribution of lower voltage electricity to private, public, and industrial customers, is driving up demand for cables. Governments worldwide are investing in expanding and upgrading electricity transmission and distribution systems. For instance, the global investment for 2021–2030, according to the International Energy Agency (IEA), is projected at approximately $310 billion in electricity distribution and $97 billion in electricity transmission, furthering the growth of the cables market.
How Is the Global Cables Market Segmented?
1) By Installation: Overhead, Underground, Submarine
2) By Voltage: High, Medium, Low
3) By End-User: Industrial, Aerospace And Defense, Oil And Gas, Energy And Power, IT And Telecommunication, Other End Users
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Who Are the Major Players in the Cables Market?
Significant companies operating in the cables market include Prysmian Group, Nexans S.A., Sumitomo Corporation, Belden Incorporated, Fujikura Ltd., Leoni AG, LS Cable & System Ltd., NKT A/S, Southwire Company LLC, ABB Ltd., Polycab India Ltd., Huawei Technologies Co. Limited, Axon Cable SAS, KEI Industries Ltd., General Cable Corp., Encore Wire Corporation, Finolex Cables Ltd., Bahra Cables Company, Brugg Kabel AG, Riyadh Cables Group Company, Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Lapp Tannehill, Dacon Systems Inc., American Wire Group, CommScope Holding Company Inc., Sterlite Technologies Limited, Aksh Optifibre Ltd., Paramount Communications Ltd.
What Are the Emerging Trends in the Cables Market?
Major companies operating in the cable market are focusing on developing cutting-edge solutions such as fiber optic microcables to bolster connectivity and meet the growing requirements for high-speed data transmission. For example, in May 2023, HFCL Limited introduced various innovative optical fiber products at the ISE EXPO 2024, including a 1728-fiber Intermittently Bonded Ribbon (IBR) cable designed for high-density installations and rapid restoration during outages, and Nano Thin Microcables, which maximize fiber capacity within 14mm microducts and set a record for fiber packing density.
Which Region is Leading the Growth in the Cables Market?
In 2024, Asia-Pacific emerged as the largest region in the cables market. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Cables Market Report 2025 Offer?
The reporting of the Cables Market research by The Business Research Company offers a comprehensive analysis of global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. A cable, as defined in the report, is a wire or collection of conductors used to transport electricity or telecommunication signals from one location to another. The Cables Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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