The global wires and cables market was valued at about $136 billion in 2018. Asia Pacific was the largest region in the wires and cables market with over 42% of the market.
The wires and cables market consists of the sales of new wires and cables by entities (organizations, sole traders and partnerships) that manufacture insulated fiber optic cables which are network cables containing strands of glass fibers inside an insulated case, and coaxial cables and other insulated nonferrous wires which are copper and aluminum wires used by industries including energy, automotive, telecoms and others. The wires and cables market covered in this report does not include sales from services, repair and maintenance of wires and cables.
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Wires And Cables Market Size
The global wires and cables market size is expected to grow to over $173 billion in 2022 at a compound annual growth rate of about 6%. Growth in the historic period resulted from the rise in electricity consumption, renewal of power transmission networks, growth in the automobile industry, and economic growth in emerging markets. Factors that negatively affected growth in the historic period were volatility in metal prices and regulatory challenges. Going forward, the increasing popularity of Ethernet, growing medical devices industry, and advances in communications technology will drive growth.
Sumitomo Electric Industries Ltd was the largest competitor with nearly 8%% of the wires and cables market, followed by LEONI AG with about 4%, South Wire LLC , Furukawa Electric Industries Ltd. , Amphenol Corp , and General Cable Corporation, (exact figures are mentioned in report).
Sumitomo Electric Industries Ltd is a manufacturer of electric wires, optical fiber cables and other communications wiring products. It was founded in 1897 and is headquartered in Osaka Japan. The company had 225,484 employees as of 2016.
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Company profiles included in the wires and cables market report are Furukawa Electric Industries Ltd, General Cable Corporation, Broadcom ltd, Hitachi, Corning Inc, Prysmian Group and Sumitomo Electric Industries Ltd. Sumitomo Electric Industries Ltd
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