U.S. Wires And Cables Market Size, Share & Trends Analysis Report By Voltage (Low Voltage, Medium Voltage, High Voltage, Extra High Voltage), By Installation (Overhead, Underground), By End-use, And Segment Forecasts, 2024 - 2030

U.S. Wires And Cables Market Size & Trends

The U.S. wires and cables market size was valued at USD 20.34 billion in 2023 and is projected to grow at a CAGR of 3.6% from 2024 to 2030. The robust outlook is partly due to the trend for smart cables, High-Temperature Superconducting (HTS) cables, and fire-resistant cables. Besides, the advent of 5G and 6G technologies, along with the surging penetration of IT facilities and data centers, has spurred the penetration of cables. Notable investments in high-capacity transmission lines have prompted industry leaders to inject funds into cables and wires.

Cable companies across the U.S. are in a strong position as they are one of the leading providers of TV and broadband services in the region. Moreover, the emergence of 3D printing technology has leveraged the customization of cables, allowing manufacturers to create products with unique sizes, shapes, and properties to minimize waste, foster efficiency, and keep up with customer demand.

Lately, environmentally friendly materials have received an impetus, prompting stakeholders to inject funds into recycled components, bio-based insulation materials and reduced chemical emissions during production. Sustainable wires and cables are expected to complement the trend for green infrastructure and help minimize the environmental footprint. To illustrate, low smoke halogen-free cables have garnered immense traction as they release limited poisonous fumes and destructive gas if exposed to fire.

Market Concentration & Characteristics

Innovation has become pronounced in the U.S. as researchers, investors, manufacturers and other stakeholders gear up to connect the future with wires and cables. Predominantly, smart wires have become sought-after for the integration of sensors and communication technology. Meanwhile, end-users have exhibited a profound demand for graphene wires on the back of thermal conductivity and electrical conductivity. Industry leaders are also exploring the option of high-speed data transfer cables amidst the demand for faster data transfer and expanding penetration of 5G networks, HD video streaming and data centers.

With innovations reshaping the U.S. landscape, mergers & acquisitions have become noticeable across the region. Incumbent players are banking on novel technologies, diversifying product lines, boosting profitability, and bolstering market share. M&A activities are poised to gain traction for increased revenue, enhanced operational efficiency, and reduced costs, which could propel the position of shareholders and other stakeholders.

Regulations and standards are instrumental in wires and cables for interoperability, reliability, and safety. Cable standards, for instance, are referenced in codes and regulations for compliance with performance and safety requirements. In essence, Underwriters Laboratories (UL) is charted to maintain, establish and operate laboratories for the testing and assessment of systems, devices, and materials. It helps the watchdog to decide their relation to property and life and to define, ascertain, and publish standards, specifications, and classifications for devices, materials, equipment, products, constructions, systems, and methods impacting such hazards.

One of Porter’s Five Forces, the threat of substitutes, can redefine the competitive landscape of the industry. The emergence of 6G networks is likely to challenge wire and cable companies as the platform can replace wired communication. 6G could be used as an invisible cable with similar reliability and latency as dedicated wires. However, cables will continue to remain the gold standard for connectivity for hazard prevention in factories, engine control in vehicles or flight stability control in aircraft.

End-users, including building & construction, aerospace and defense, energy and power and IT & telecommunication, are likely to underpin their strategies to stay ahead of the curve. To illustrate, the surging footprint of advanced infrastructure and burgeoning population have revved up construction projects. The trend has fueled the demand for wires and cables in the building and construction industry, auguring growth for the U.S. market.

Voltage Insights

The low voltage segment spearheaded the U.S. wires and cables market with a revenue share of 48.57% in 2023. Stakeholders have sought the cables to save money on energy costs and underpin smart grids for good-quality transmission. These wires have become sought-after in audio and video devices set up on cable TV and Ethernet. Moreover, low voltage devices have received an impetus in surveillance devices, boding well for the growth forecast.

The medium voltage segment will exhibit strong demand across industrial settings and mining to supply power to haulers, shovels and drills. Some dynamics, including increased load capacity, less energy loss and enhanced safety, have spurred the penetration of the cables. Prominently, hospitals, large radio and television towers, railway transport and rural electrical networks are poised to exhibit bullish demand for medium voltage wires and cables.

Installation Insights

The overhead segment accounted for the largest revenue share in 2023 and will continue to depict a robust trend on the back of easy installation compared to underground cables and wiring. Besides, the cost is one of the compelling factors American stakeholders prefer overhead power lines. Overhead power lines will continue to dominate the rural areas across the U.S. The rising prevalence of these cables is largely attributed to mass electrification and economic growth that happened in the country before the emergence of underground wires and cables.

The underground segment is poised to exhibit notable growth in the wake of safety, environmental and aesthetic attributes. Most new lines built in the U.S. are likely to be buried as overhead lines would be obstructive. For instance, the largest utility in the U.S., Pacific Gas and Electric, is on course to move 10,000 miles of power lines in fire-prone areas underground to “significantly reduce ignition risk.”

End-use Insights

The energy and power segment is slated to continue its dominance as the trend for smart grid networks and renewable energy and the demand for energy continue to soar across the region. The USDA (since the start of the Biden-Harris Administration) has injected over USD 1.6 billion through the Rural Energy for America Program (REAP) in 5,457 renewable energy and energy efficiency improvements. Besides, in October 2023, the U.S. announced an infusion of USD 3.5 billion to underpin the power grid and deploy clean energy. The government expects it will safeguard the aging power grid from fire and extreme weather.

Stakeholders expect the building and construction segment to observe prominent growth on the back of surging construction projects. In November 2023, the U.S. announced pouring USD 2 billion for low-carbon construction at federal buildings. Furthermore, a USD 77 billion investment in the under-construction California High-Speed Rail project has added a fillip to the regional market growth.

Key U.S. Wires And Cables Company Insights

Some of the leading companies operating in the market, include Siemon, Hitachi, Ltd. and Belden, Inc. have bolstered their strategies to stay ahead of the curve. They are likely to focus on organic and inorganic strategies to underscore their strategies in the regional landscape. Some emerging companies, such as MaxLinear, Lapp Tannehill, Dacon Systems, Inc. and Nexans, are poised to bolster their strategies to tap into the U.S. market.

Recent Developments

• In February 2024, MaxLinear announced the rollout of a product design kit to boost performance and expedite the time to market for active electrical cables.

• In February 2024, Belden launched products for faster speeds, better connectivity and more power for mission-critical environments. In essence, the organization has designed indoor/outdoor (I/O) plenum (CMP) stadium cables apt for aerial and outdoor, below-grade conduit applications.

• In October 2023, Siemon announced the rollout of RapidDAC for high-speed direct attach copper cables. It is expected to offer high-quality and agile solutions for data center connectivity needs.

• In July 2023, Nexans bolstered its presence in the offshore wind and interconnection landscape with the addition of a third-generation cable-laying vessel. The decision could help the company keep up with the surging electrification demand in the American market.

• In March 2023, Belden announced the launch of Fault-Managed Power System (FMPS) Hybrid Cables (Class 4 circuits) in smart buildings.

• In September 2022, Hitachi Energy reported that it would boost major renewable electricity transmission between Canada and New York City. Hitachi Light transmission system will help the Champlain Hudson Power Express (CHPE) to transfer up to 1,250 megawatts of electricity for more than 1 million New York homes.

• In May 2022, LS Cable & System announced an infusion of USD 26.9 million in North Carolina. The facility that presently produces low- and medium-voltage cables will reportedly be expanded in the next three years.

U.S. Wires And Cables Market Report Scope

U.S. Wires And Cables Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. wires and cables market report based on voltage, installation, and end-use:

• Voltage Outlook (Revenue in USD Billion, 2017 - 2030)

  • Low Voltage

  • Medium Voltage

  • High Voltage

  • Extra High Voltage

• Installation Outlook (Revenue in USD Billion, 2017 - 2030)

  • Overhead

  • Underground

• End-use Outlook (Revenue in USD Billion, 2017 - 2030)

  • Aerospace & Defense

  • Building & Construction

  • Oil & Gas

  • Energy & Power

  • IT & Telecommunication

  • Others