Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Wires and Cables Market size is likely to expand from USD 222.46 billion in 2024 to USD 468.7 billion by 2037, exhibiting a CAGR of around 5.9% during the forecast timeline, between 2025 and 2037. Currently in 2025, the industry revenue of wires and cables is estimated at USD 231.65 billion.
This market growth is assessed to be encouraged by the growing need for energy globally. As a result, the demand for cutting-edge wires and cables to ensure effective transmission is increasing, an essential infrastructure component for producing, moving, and storing power.
According to the EIA projections, by 2050, the world's need for power may have increased by roughly one-third to three-quarters.

Wires and Cables Sector: Growth Drivers and Challenges
Growth Drivers
- Expanding aerospace and defense industry - The continuous expansion of the aviation sector is likely to augment market demand for aerospace wiress and cables that are utilized in the sector for signal communication, data transfer, and power supply, and are made to endure high temperatures, high pressures, and challenging climatic circumstances, guaranteeing dependable operation and security in applications involving airplanes and spacecraft.
The scale of the aerospace and defense sector worldwide is currently over USD 850 billion. - Surging adoption of renewable energy - For green technology to function better and be more reliable, premium wiress and cables are needed, which will be essential in transporting electricity from scattered wind and solar farms to the homes and businesses that utilize it.
As per the International Energy Agency, throughout the next five years, over 90% of the increase in global electricity production will come from renewable sources. - Growing spending in the construction sector - This has caused the number of construction-related activities to rise, leading to a higher demand for electrical cables and wiress which are utilized in practically every residential, commercial, and industrial building construction for various power transmissions, including those of data, electricity, and security.
Before the coronavirus pandemic, the construction industry had grown to a spending value of more than USD 10 trillion, and it is predicted to expand by around 2% per year.
Challenges
- Varying prices of raw materials such as copper, and aluminum - In wiress and cables, copper is the most often utilized metal since it is an excellent electrical conductor. However, economic conditions around the world, supply chain reorganizations, and strict laws have a significant impact on copper prices, which may impede market growth.
Changes in the price of copper can diresctly affect the cost of production and profitability. - The performance, building, and design criteria for wiress and cables are outlined in several legislative and regulatory compliance standards. Adhering to these regulations can be complex and expensive.
Wires and Cables Market: Key Insights
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.9% |
Base Year Market Size (2024) |
USD 222.46 billion |
Forecast Year Market Size (2037) |
USD 468.7 billion |
Regional Scope |
|
Wires and Cables Segmentation
Voltage (Low, Medium, High, Extra High)
Low segment is poised to account for wires and cables market share of more than 57% by the end of 2037. The segment growth can be accredited to the growing telecommunication industry propelled by the increased need for digitization and high-speed connectivity. As a consequence, the market for wires and cables is anticipated to develop steadily over the coming years.
For instance, in 2023, the global telecommunications market is predicted to increase rapidly, with roughly USD 1 trillion estimated to be spent globally.
The wiring system known as low voltage cabling is made to withstand lower voltages and is also commonly utilized for telecommunications purposes as it serves as the foundation of contemporary communications, offering the networks, telephony, and data transmission infrastructure.
Additionally, low-voltage wiress and cables are utilized in many different applications, such as phone systems and internet access since they use less energy and produce less heat.
End-Use (Aerospace & Defense, Building & Construction, Oil & Gas, Energy & Power, IT & Telecommunication)
The energy & power segment is estimated to gather the highest CAGR during the forecast timeframe. The major factor for the expansion of the segment is the rising global population. Particularly, by 2024, the world's population will be expanding at a rate of over 0.90% per year. As a result, worldwide electricity demand is anticipated to increase, leading to a significant hike in the need for subterranean high- and extra-high-voltage (HV) cables.
Installation (Overhead, Submarine Underground)
The overhead segment in wires and cables market is assessed to generate a robust revenue share by the end of 2037. The growing prevalence of natural disasters is the primary driver of the segment's growth. The most recent increases in flooding and severe storm occurrences have been caused by greenhouse gasses trapping more heat in the atmosphere.
Therefore, overhead cables are essential, since power lines that have been undergrounded may be more vulnerable to floods from rain, ice melting, and storm surges that are corrosive.
In a report published by Our World in Data, global deaths from natural disasters, such as floods, droughts, earthquakes, and storms, range from 40,000 to 50,000 annually.
Our in-depth analysis of the market includes the following segments:
Voltage |
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Installation |
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End-Use |
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Customize this ReportWires and Cable Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is anticipated to dominate majority revenue share of 47% by 2037. The market growth in the region is expected on account of rapid urbanization. Due to this, the region is witnessing rapid industrialization, which is accelerating the energy demands, leading to higher demand for wires and cables. As per the World Bank, with an average yearly urbanization rate of 3%, East Asia and the Pacific are the regions that are urbanizing the fastest in the world.
Over the past ten years, China's need for wires and cable has increased quickly driven by increased telecommunications investments and a notable rise in electric vehicle sales.
Japan now boasts one of the top electronics businesses in the world led by the growing use of smart devices and Internet of Things (IoT) technology, this has led to a significant increase in market demand. For instance, Japan's consumer electronics market is expected to increase by around 0.11% between 2024 and 2028.
South Korean cable manufacturers raise their output quickly in response to a significant spike in orders from data centers and battery producers worldwide.
North American Market Analysis
The North America region will also encounter massive growth for the wires and cables market through 2037 and will hold the second position owing to the increasing infrastructure initiatives in this region. It is anticipated that the region's infrastructure will deploy more wiress and connections to update the current grid network.
It is estimated that the US consumer electronics market will expand by more than 2% between 2023 and 2024, which might lead to a significant rise in the need for wiress and cables.
Canada is fifth in the world for natural gas production and fourth in the world for oil production, thus there is a higher need for wires and cable products that must function well in challenging conditions.

Companies Dominating the Wires and Cable Landscape
- Belden Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Leoni AG
- Ravicab Cables Private Ltd.
- LS Cables & System Ltd.
- Nexans
- NKT A/S
- Prysmian S.p.A
- KEI Industries Ltd.
- Finolex Cables Ltd.
- Habia Cable
The wires and cables market consist of many key players who are launching various strategic initiatives to expand their market position in the industry.
In the News
- Belden Inc. a leading global supplier of specialty networking solutions introduced six Q2 2022 products Hirschmann BXS Gigabit Switches, Hirschmann GREYHOUND 105/106 Ethernet Switches, Lumberg Automation LioN-X IO-Link Masters, Belden’s Digital Electricity (DE) Class 4 Cables, Belden OSP Dry Loose Tube Cables, and Belden RS-485 Cables to provide clients with improved integration possibilities, innovative means of safely transporting electricity over great distances, and quickly available items.
- Ravicab Cables Private Ltd. an Indian manufacturer of specialized cables with over 20 years of experience in the production, promotion, and distribution of wiress and cables announced the acquisition of Leoni Cable Solutions India Private Ltd.
Author Credits: Abhishek Verma
- Report ID: 6077
- Published Date: Mar 19, 2025
- Report Format: PDF, PPT