Latest Market Research Report 2025

The global   wires and cables market   was valued at approximately USD 211.62 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2030. Several key factors are contributing to this growth, including the increasing rates of urbanization and the rising demand for infrastructure development around the world. These trends are particularly influencing the power and energy requirements across various sectors, including commercial, industrial, and residential. The need for more advanced power transmission and distribution systems, alongside the development of smart grids, is driving substantial investments, further boosting market expansion. As a result, there is a notable increase in the adoption of new underground and submarine cables, essential for supporting modern grid infrastructure. A smart grid is an advanced electrical grid that incorporates automation, control systems, and cutting-edge technologies to enhance the efficiency...

  Wires And Cables Industry Overview The global wires and cables market size was estimated at USD 183.14 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028.  Rising urbanization and growing infrastructure worldwide are some of the major factors driving the market. The said factors have impacted the power and energy demand in commercial, industrial, and residential sectors. Increased investments in smart upgrading of the power transmission and distribution systems and the development of smart grids are anticipated to drive the market growth. Implementation of smart grid technology has met the increasing need for grid interconnections, thus resulting in rising investments in the new underground and submarine cables. The smart grid is an electric grid that includes controls, automation, computers, and innovative equipment and technologies that function together and offer efficient electricity transmission. The functionin...