Wires And Cables Market Size, Share & Trend Report

Wires And Cables Market Size, Share & Trend Analysis Report By Voltage (Low, Medium, High, Extra-High), By Installation (Overhead, Underground), By End-Use, And Regional Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-704-9
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2021
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the wires and cables market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for wires and cables market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of wires and cables market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Wires And Cables Market Categorization:

The wires and cables market was categorized into three segments, namely voltage (Low Voltage, Medium Voltage, High Voltage, Extra High Voltage), installation (Overhead, Underground), end-use (Aerospace & Defense, Building & Construction, Oil & Gas, Energy & Power, IT & Telecommunication), and regions (North America, Europe, Asia Pacific, South America, Middle East & Africa).

Segment Market Methodology:

The wires and cables market was segmented into voltage, installation, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The wires and cables market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; China; Japan; India; and Brazil

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Wires and cables market companies & financials:

The wires and cables market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Belden, Inc. is a U.S.-based company that specializes in manufacturing connectivity, networking, and cable products. The company offers Industrial and Enterprise product categories which include Cables, Networking, Connectivity, Copper Systems, Fiber Systems, and so on. It caters to markets such as energy, automotive, transportation, machine building, oil & gas, food & beverage, and waste/wastewater. Belden Inc. offers its Enterprise solutions to markets such as smart buildings, hospitality, data centers, stadiums & venues, healthcare, and so on. The company operates in North America, South America, Asia Pacific, Europe, and Middle East & Africa. It sells its signal transmission products through Hirschmann, Lumberg Automation, Grass Valley, and several other brands.

  • Encore Wire Corporation is a Texas-based manufacturer of residential, commercial, and industrial building wires made of copper or aluminum. The company aims at accomplishing zero landfills, which means that waste produced during the manufacturing process would be recycled or repurposed. Encore Wire Corporation has a single business segment – the production of electric building wire, mainly THHN/THWN-2 cable, metal-clad and armored cable, and NM-B cable for usage primarily as interior wiring in homes, apartments, and manufactured housing. Electrical wholesale distributors are Encore's main market for its building wire. The company provides wire-pulling solutions, colored wires, and metal-clad & armored-clad SmartColorID identification systems, which enable cost savings, labor charges savings, and offer safety.

  • Finolex Cables, Ltd. is an Indian manufacturer of PVC-insulated cables for the automobile industry. The company’s product range consists of PVC-insulated industrial cables, single-core PVC-insulated, FR-LSH PVC-insulated industrial cables, multicore flexible industrial cables, and other offerings. The company is also engaged in manufacturing lighting products, and household appliances such as fans, water heaters, electrical accessories, and switchgear. The company caters to customer demands through manufacturing facilities set up across India in the states of Maharashtra, Goa, and Uttarakhand. Finolex Cables Ltd. has 3,500 channel partners and 40,000 dealers across the country.

  • Fujikura Ltd. is a developer and manufacturer of power and telecommunication systems, including devices for optical fibers. The application verticals catered by the company are power and telecommunication systems, electronics, automotive, real estate, and defense. Fujikura Ltd. operates through business segments, including energy, real estate, automotive products, telecommunication, and electronics. The company focuses on innovation through its specialized Research & Development (R&D) laboratories, research fields, and research journals.

  • Furukawa Electric Co., Ltd. develops products and solutions based on three materials, namely metals, photonics, and polymers. It caters to the needs of verticals such as telecommunication, energy, automobile, construction, and electronic parts. It has a wide global network with manufacturing units and sales offices located in North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The company focuses on R&D and next-generation businesses, setting up R&D laboratories, and publishing research results & technologies in Furukawa Electric Review, a technology & research journal. Furukawa Electric Group has accumulated material technologies by diversifying its business beyond copper smelting and electrical lines. The company now has four main technologies, namely metals, polymers, photonics, and high frequency, by combining high-frequency electronics technology with materials technology.

  • KEI Industries Limited is an Indian company that is primarily engaged in manufacturing and distributing power cables; high and low tension; poly wrapped winding wires; specialty cables; rubber cables; control and instrumentation cables; flexible and house wires; submersible cables; and stainless-steel wires. It specializes in manufacturing specialty cables, including braided cables, fire-resistant cables, zero halogen cables, ship wiring cables, and flexible mining cables. The company operates in domestic & international markets and caters to public & private sector clients from 35 countries. The manufacturing sites of the company are located in the Indian state of Rajasthan and the Union Territory of Dadra & Nagar Haveli.

  • LEONI is a Germany-based company that provides services, products, and solutions for data and energy management in the automotive sector and related industries. Standardized cables, specialty cables, complex wiring systems, and related components are all included in the value chain. It offers solutions ranging from single-core cable to a complete wiring system with integrated electronics. The product range also includes wires, strands, optical cables, optical fibers, standardized & special cables, hybrid cables, and completely assembled systems. The company offers products, systems, and solutions to meet the latest technological requirements such as autonomous driving, electro-mobility & digitization, big data, and energy management.

  • LS Cable & System Ltd. is a South Korean manufacturer of cables for the energy, industrial, telecommunication, and materials sectors. It also provides innovative and technologically advanced products & solutions for managing electric power, wind power, railways, marine & offshore, automobiles, airports, comprehensive area communication, and urban communication networks. LS Cable & System also connects local customers with sales offices and branches in the Americas, Asia, Europe, the Middle East, and Africa. The company operates its business in over 60 production sites and has subsidiaries in 21 countries. The company’s domestic factories are in Gumi, Donghae, and Indong. To ensure global production capacity, the company runs international production facilities in China, ASEAN, Egypt, Poland, and the U.S.

  • Nexans manufactures copper and optical fiber cables. The company has four primary business areas, namely power transmission & distribution, energy resources, transportation, and buildings. It provides services to network operators, equipment and infrastructure manufacturers, builders, installers, and distributors in land and sea transportation, data center, commercial and residential construction, oil and gas, mining, and renewable energy sectors. Nexans is a member of Europacable. Europacable is a European association of wire & cable manufacturers. The company serves customers in 42 countries worldwide. It is also a participant of the Europacable Industry Charter. Nexans has a vast geographic footprint and includes various regions such as America, Africa, Asia, Oceania, and Europe.

  • NKT A/S comprises two companies: NKT, which provides power cable solutions, and NKT Photonics, which is a supplier of photonic crystal fibers and fiber lasers. Each business specializes in separate areas of the power cable market with attractive growth opportunities driven by sustainable megatrends. Both companies are headquartered in Denmark and have offices globally. The company manufactures, develops, and markets cables and solutions for electrical infrastructure, construction, and railway and automotive industries. It offers a wide range of special cables for industrial use. NKT A/S is divided into three business lines: Solutions, Applications, and Service & Accessories. The company’s products & solutions consist of high-voltage cable solutions, medium-voltage cables, low-voltage cables, cable services, technology consulting, and services & accessories. The company has a vast geographic footprint and includes regions such as America, Europe, the Asia Pacific, and the Middle East.

 

 

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Wires And Cables Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Wires And Cables Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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