The Wires And Cables Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Wires And Cables Market:
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According to The Business Research Company’s Wires And Cables Global Market Report 2024, The wires and cables market size has grown strongly in recent years. It will grow from $243.37 billion in 2023 to $258.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to automotive industry growth, telecommunications boom, power transmission networks, consumer electronics demand, growth of the manufacturing sector.
The wires and cables market size is expected to see strong growth in the next few years. It will grow to $321.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to demand for high-speed data transmission, fiber optic expansion, renewable energy projects, smart cities development, e-commerce growth. Major trends in the forecast period include 5g network expansion, internet of things (iot), digitalization in industries, flexible and lightweight materials, e-mobility infrastructure, recyclability and sustainability.
Technological advances in the communication industry are expected to be a key driver of the wires and cables market. Advances in fiber optic networks and rising investments in high-capacity network infrastructure and wired broadband technologies would lead to an increase in the demand for fiber optic cables. Fiber optic cables support higher bandwidths and faster data transmission than standard coaxial cables. Therefore, an increase in fiber optics demand would support the manufacturers of new and advanced fiber optic cables.
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The wires and cables market covered in this report is segmented –
1) By Type: Other Cables, Fiber Optical Cable, Coaxial Cables
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use Industry: Energy, Telecommunications, Building & Construction, Industrial Manufacturing, Automotive, Medical Equipment, Other End-Users
Subsegments Covered: Insulated Cables, Shipboard Cables, Aircraft And Automotive Cables, Single-Mode Fiber Cable, Multimode-Fiber Cable
The demand for miniature connectors is growing rapidly in industries such as mobile technology, aerospace, defense, and medical equipment to enhance connectivity and minimize space in electrical and electronic devices. Miniature connectors’ also known as micro connectors include sub- miniature, micro-miniature, and ultra-micro miniature connectors. Micro connectors are rectangular cross sections that carry power and data. Miniature connectors can handle about 10 Gbps data and advanced miniature board-to-board connectors can handle about 20 Gbps data. For instance, some of the major companies offering miniature connectors include AMETEK, Omnetics, Amphenol, and Molex.
The wires and cables market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Berkshire Hathaway Inc.
- Sumitomo Electric Industries Ltd.
- Eaton Corporation PLC
- Prysmian Group S.p.A.
- TE Connectivity Ltd.
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