Wire and cable market driven by growing demand for optical fibers


Global Wire and Cable Market Report 2021: Impact of COVID-19 and Recovery to 2030

The Business Research Company Global Wire and Cable Market Report 2021: Impact of COVID-19 and Recovery to 2030

LONDON, GREATER LONDON, UK, July 6, 2021 /EINPresswire.com/ – Technological advancements in the communications industry are expected to be a key driver in the wire and cable market. Advances in fiber optic networks and increasing investments in high capacity network infrastructure and broadband wireline technologies will drive increased demand for fiber optic cables. Fiber optic cables support higher bandwidths and faster data transmission than standard coaxial cables. Therefore, an increase in demand for optical fibers will support new and advanced optical fiber cable manufacturers.

Analysis of the global wire and cable industry shows that the market is expected to grow from $ 213.38 billion in 2020 to $ 232.13 billion in 2021 at a compound annual growth rate (CAGR) of 8.8 %. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 308.02 billion in 2025 at a CAGR of 7%.

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Asia-Pacific is the largest region in the world wire and cable market, accounting for 52% of the market in 2020. North America is the second largest region, accounting for 18% of the world wire and cable market. Africa is the smallest region in the global wire and cable market.

The major players covered in the wire and cable manufacturers market are Sumitomo Electric Industries Ltd, Prysmian Group, Furukawa Electric, Leoni AG, Southwire Company LLC.

The TBRC Electrical Wire and Cable industry report is segmented by type into other cables, fiber optic cables, coaxial cables, by energy end-use industry, telecommunications, building and construction, industrial manufacturing, automotive, equipment medical, other, by OEM sales channel, aftermarket and by online, offline mode.

The sub-segments covered are insulated cables, shipboard cables, aeronautical and automotive cables, single-mode fiber cables, multimode fiber cables.

Global Wire and Cable Market Report 2021: Impact and Recovery of COVID-19 to 2030 is part of a series of new reports from The Business Research Company that provides an overview of the global wire and cable market, predicts the global wire and cable market size and growth for the overall wire and cable market segments, and geographies, wire and cable market trends, wire and cable market drivers, restraints, revenue, profiles and market shares of the main competitors.

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