Insulated Wires and Cables Market

Insulated Wires and Cables Market Outlook (2023 to 2033)

The newly released Insulated wires and cables market analysis report by Fact.MR reveals that global sales of insulated wires and cables in 2022 were held at US$ 170.2 billion. With a 6.3% projected CAGR from 2023 to 2033, the market is expected to reach a US$ 334.7 billion valuation by the end of the forecast period.

The telecommunication industry is expected to generate significant revenue and is projected to grow at a CAGR of over 5.8% from 2023 to 2033.

Attributes	Details
Insulated Wires and Cables Market (2023)	US$ 181.3 Billion
Insulated Wires and Cables Market (2033)	US$ 334.7 Billion
Insulated Wires and Cables Market CAGR (2018-2022)	7.2%
U.S Insulated Wires and Cables Market CAGR (2023 – 2033)	6.2%
Key Companies Covered	Amphenol Corporation Belden, Inc. Amhereo Technology Pty Ltd. Akcine Bedrove Lietuvos Pastas Artesyn Embedded Power Allied Wire & Cable, Inc. AFC Cable Systems, Inc Business Wire, Inc. Audio-Technica US, Inc. Alpha Wire

Insulated Wires and Cables Market Revenue from 2022 Compared to Demand Outlook for 2023 to 2033

As per Insulated wires and cables market research by Fact.MR - a market research and competitive intelligence provider, the market value increased by around 7.2% CAGR from 2018 to 2022. The market is projected to reach a US$ 334.7 billion valuation by 2033.

What Key Factors are Influencing the Market Expansion?

Insulated wires and cables play a critical role in transmitting electricity and signals while maintaining safety, efficiency, and durability in a wide range of industries and everyday electrical systems. The increasing focus on renewable energy sources, such as solar and wind power, is driving the demand for insulated wires and cables. These sources require specialized cables for transmission and distribution, which is expected to increase the market for insulated wires and cables.

Renewable energy sources require specialized cables due to their high-voltage and long-distance transmission requirements. This is because renewable energy sources are often located far away from the points where the energy is consumed, which means that they require specialized cables that can transmit power over long distances with minimal losses. Additionally, renewable energy sources such as solar and wind power can produce high-voltage electricity, which requires specialized cables that can handle the high voltage levels. Therefore, the growth of the renewable energy sector is driving the demand for specialized insulated wires and cables for transmission and distribution, which is increasing the market for insulated wires and cables.

In 2018, around 6673 TWh was produced from renewable sources which increased to around 8,566 TWh in 2022 and is projected to reach a capacity of 12,469 TWh by 2027. With the rapid increase in renewable energy generation, the demand for insulated wires and cables is projected to increase therefore expanding the market during the assessment period.

With the increasing use of digital technologies and the internet, there is a growing demand for high-speed connectivity. This is driving the demand for optical fiber cables, which offer faster and more reliable connectivity than traditional copper cables.

With the increasing use of digital technologies and the internet, there is a growing demand for high-speed connectivity which is driving the demand for optical fiber cables. Unlike traditional copper cables, optical fiber cables use light to transmit data, which allows for faster and more reliable data transmission. Optical fiber cables are also more resistant to electromagnetic interference, which makes them a better choice for transmitting data over long distances. The increasing demand for high-speed internet connectivity for various applications, including video streaming, online gaming, and cloud computing is increasing the market for insulated wires and cables.

In 2019, there were around 12 million people that were subscribed to a 5G network which increased to around 1 billion people using 5G by 2022. It is projected that by 2027 around 5.9 billion people will be using 5G globally. With the increase in demand for 5G around the world, the demand for insulated wires and cables is projected to increase with the rapid adoption of 5G as insulated wires and cables are an essential part of the internet infrastructure and play a critical role in enabling connectivity of the internet infrastructure, therefore, expanding the market during the assessment period.

Furthermore, the growing demand for electric vehicles is driving the demand for insulated wires and cables as they are used in the manufacturing of EV batteries and charging infrastructure as insulated wires and cables are used in the manufacturing of EV batteries. These cables help connect the battery cells together, ensuring efficient and reliable power transmission within the battery pack. They also play a crucial role in balancing power distribution and managing the charging and discharging processes.

In 2019, around 2 million electric cars were sold globally which increased to around 10.2 million by 2022. It is projected that by 2030 EV car sales will reach around 35.5 million. As insulated wires and cables play an important role in EV, with the increase in the demand for EVs the demand for Insulated wires is also projected to increase therefore expanding the market during the assessment period.

Which Region is Projected to Add Significant Revenues to the Market?

Asia Pacific had a market size of US$ 88.3 billion in 2022. Asia Pacific is expected to account for a market worth US$ 173.7 billion by 2033. The historical CAGR between 2018 and 2022 is 8.2%. The forecasted CAGR from 2023 to 2033 is expected to be 8.9%.

Asia Pacific has a predominant number of 5G Subscribers, with around 574 million people using 5G in the region in 2021, and this number is projected to climb to over 3.2 billion people using 5G by 2025. Since insulated cables and wires are used for long-distance internet transmission and are thus an important part of the internet infrastructure, the demand for insulated wires and cables is projected to increase with the rapid increase in 5G deployment around the world, therefore, expanding the market during the assessment period.

Country-wise Analysis

United States Insulated Wires and Cables Market Analysis :

The market in the United States is expected to grow to be worth US$ 67.5 Billion with an absolute dollar growth of US$ 30.6 Billion. The market in the country has grown at a CAGR of 7.2% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from 2023 to 2033.

The United States has a significant number of electric vehicles with around 361,000 cars sold in 2018 which increased to around 608,000 units by 2021. Insulated wires and cables play a crucial role in electric vehicles as they are extensively used in electric vehicles (EVs) to transmit power and signals, therefore with the increase in the number of EVs in the country the demand for insulated wires and cables is projected to increase therefore expanding the market in the country during the assessment period.

The U.K. Insulated Wires and Cables Market Analysis :

The market in the U.K. is expected to grow to be worth US$ 13.3 billion with an absolute dollar growth of US$ 6 billion. The market in the U.K. has grown at a CAGR of 7% from 2018 to 2022 and is expected to grow at a CAGR of 6.1% from 2023 to 2033.

In 2018 there were around 59,000 Battery Electric Vehicles in the United Kingdom which increased to around 663,700 battery-electric vehicles by 2022. As insulated wires and cables are a crucial component of an electric vehicle, their demand is projected to increase therefore expanding the market during the assessment period.

China Insulated Wires and Cables Market Analysis :

The market in China is expected to grow to be worth US$ 83.6 billion with an absolute dollar growth of US$ 38.1 billion. The market in China has grown at a CAGR of 7.1% from 2018 to 2022 and is expected to grow at a CAGR of 6.3% from 2023 to 2033.

In 2018, there were around 1.1 million electric cars sold in the country which increased to around 5.9 million by 2022 and it is projected that by 2027 the number of electric vehicles will increase to around 7.3 million units. With the increase in the number of electric vehicles in the country the demand for insulated wires and cables is projected to increase therefore expanding the market during the assessment period.

Japan Insulated Wires and Cables Market Analysis :

The market in Japan is expected to grow to be worth US$ 55.2 billion with an absolute dollar growth of US$ 24.9 billion. The market in Japan has grown at a CAGR of 7% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from 2023 to 2033.

Around 53 million people in Japan have access to 5G in 2022, and by 2028 this number is projected to grow to about 102 million. Insulated wires and cables are crucial components of 5G as they are designed to transmit high-frequency signals with low loss and minimal interference, therefore with the increase in demand for 5G, the demand for insulated wires and cables is also projected to increase, therefore expanding the market during the assessment period.

South Korean Insulated Wires and cables Market Analysis :

The market in South Korea is expected to grow to be worth US$ 14.2 billion with an absolute dollar growth of US$ 6.2 billion. The market in South Korea has grown at a CAGR of 5.5% from 2018 to 2022 and is expected to grow at a CAGR of 5.9% from 2023 to 2033.

South Korea has a high pace of 5G adoption, with over 4.6 million users in 2019 and an expected increase to approximately 28.06 million by 2022. With the increase in demand for 5G, the demand for insulated wires and cables is also projected to increase, therefore expanding the market during the assessment period.

Why are Metal-based Insulated Wires and Cables Projected to Witness Significant Growth in the Market?

The market for metal-based insulated wires and cables is projected to witness significant growth with a CAGR of 6.9% from 2018 to 2022 and is expected to grow at a CAGR of 6.1% from 2023 to 2033.

Metals are used in insulated wires and cables due to their high electrical conductivity, which enables them to transmit electric power efficiently over long distances. They are also strong and durable, making them suitable for use in various environments and applications. The insulation used on the wires and cables serves to protect against electrical shocks and short circuits, as well as provide mechanical protection and prevent moisture from penetrating the wires.

Insulating materials can include polymers such as PVC and polyethylene, as well as natural materials like cotton or silk. The use of metals in insulated wires and cables is essential for transmitting electric power safely and efficiently across long distances and in a wide variety of applications, from household wiring to industrial power transmission.

Which end-use Industry of Insulated Wires and Cables is Expected to be Most Lucrative?

The telecommunication industry is projected to offer significant growth opportunities to the market with a CAGR of 6.4% from 2018 to 2022 and is expected to grow at a CAGR of 5.8% from 2023 to 2033.

Insulated wires and cables are essential components in the telecommunications industry, playing a critical role in enabling the transmission of voice, data, and video signals over vast distances with high speed and reliability. Telecommunication networks rely on a complex web of wired and wireless connections, with insulated wires and cables forming the backbone of the wired connections. The use of insulated wires and cables in telecommunications allows for the transmission of signals with minimal loss and interference, ensuring clear and reliable communication.

The development of fiber-optic cables has revolutionized the industry, enabling the transmission of vast amounts of data at incredible speeds over long distances. In addition, insulated wires and cables are used to connect equipment and devices within telecommunications networks, providing the necessary power and signal transmission. Without insulated wires and cables, the modern telecommunications infrastructure we rely on would not be possible.

Competitive Analysis

The market players are investing heavily in expanding their presence in various segments around the world. The companies are also focussing on collaborations to augment their market positions.

The key players in the market include Amphenol Corporation, Belden, Inc., Amhereo Technology Pty Ltd, Akcine Bedrove Lietuvos Pastas, Artesyn Embedded Power, Allied Wire & Cable, Inc., AFC Cable Systems, Inc, Business Wire, Inc., Audio-Technica US, Inc., and Alpha Wire.

• In December 2022 – LS Cables announced that it has invested around US$ 5 million in its Vietnamese subsidiary in order to expand its production capacity.

Segmentation of the Global Insulated Wires and Cables Market

• By Material :

  • Metal
  • Plastic
  • Optical Fiber

• By End Use :

  • Telecommunications
  • Power
  • Electronics
  • Construction

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa