Overview and Scope
The insulated cable is a cable that is resistant to electric current as it consists of non-conductive material. Insulated cables are used in lights, fans, computers, television, and telephone. Insulated cables are used in various applications such as electrical equipment, construction, telecommunications, and motor vehicles.
Sizing and Forecast
The insulated cables market size has grown strongly in recent years. It will grow from <b>$123.58 billion in 2023 to $129.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. </b> The growth in the historic period can be attributed to urbanization and infrastructure development, electrification of rural areas, industrialization, renewable energy integration.
The insulated cables market size is expected to see steady growth in the next few years. It will grow to <b>$154.69 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. </b> The growth in the forecast period can be attributed to energy transition, electrification of transportation, smart grids and iot integration, 5g expansion, aging infrastructure replacement. Major trends in the forecast period include high-voltage direct current (hvdc) cables, fire-resistant insulation, fiber optic integration, environmentally friendly materials, customization and specialization.
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Segmentation & Regional Insights
The insulated cables market covered in this report is segmented –
1) By Type: Copper, Aluminum, Fiber Optic, Other Types
2) By Voltage: Low Voltage, Medium Voltage, High Voltage
3) By Application: Electrical Equipment, Construction, Telecommunications, Motor Vehicles, Industrial Machinery
The <b>Asia-Pacific</b> was the largest region in the insulated cables market in 2023. <b>North America</b> is the second-largest region in the insulated cables market. The regions covered in the insulated cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased use of insulated cables and wires in the automotive sector will enhance the growth of the insulated cables market. Insulated wires are used to handle unique stress during the manufacturing process in the automotive industry and are also used to connect car batteries with other components. The heavy demand for insulated wires in the automotive industry is supported by the wide range of insulting wires offered by the manufacturers in the insulated cables market For instance, In April 2022, In a report published by European Automobile Manufacturers Association, a lobbying and standards group of the automobile industry in the European Union, in 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020. Additionally, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, the increasing use of insulated cables and wires in the automotive sector is driving the growth of the insulated cables market.
Key Industry Players
Major companies operating in the insulated cables market include <b>Southwire Company LLC, General Cable, 3M Company, ABL Electronic Supplies Inc., AFC Cable Systems, Amphenol Corporation, Asia Pacific Wire and Cable Corporation Limited, Belden Inc., Cable USA, LS Corporation, Hellermann Tyton, Legrand Electric Ltd, Brady, Panduit, TE Connectivity Ltd., K-Sun, Partex Marking Systems, Phoenix Contact, Thomas and Betts, CCL Industries Inc (Avery), Fujikura Ltd., Hitachi Ltd., Leoni AG, Nexans SA, Sumitomo Electric Industries Ltd., Superior Essex, The Okonite Company, Tratos, TPC Wire & Cable, Tyco Electronics, United Copper Industries, W. L. Gore & Associates, Yazaki</b>
The insulated cables market report table of contents includes:
1. Executive Summary
2. Insulated Cables Market Characteristics
3. Insulated Cables Market Trends And Strategies
4. Insulated Cables Market – Macro Economic Scenario
5. Global Insulated Cables Market Size and Growth
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26. South America Insulated Cables Market
27. Brazil Insulated Cables Market
28. Middle East Insulated Cables Market
29. Africa Insulated Cables Market
30. Insulated Cables Market Competitive Landscape And Company Profiles
Top Major Players:
- Southwire Company LLC
- General Cable
- 3M Company
- ABL Electronic Supplies Inc
- AFC Cable Systems
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