Rockville , Aug. 30, 2023 (GLOBE NEWSWIRE) -- The Insulated Wires and Cables Market revenue was estimated at US$ 170 billion in 2022 and is anticipated to grow at a CAGR of 6.3% from 2023 to 2033, according to a recently published Fact.MR report. By the end of 2033, the market is expected to reach a valuation of US$ 103 billion. The market is expected to garner significant revenue through the telecommunications industry with a projected CAGR of 22.3% from 2023 to 2033.
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The Rise in the Use of Insulated Wires and Cables in Renewable Energy and 5G around the world is projected to expand the Global Market
The growing emphasis on renewable energy sources like solar and wind power is driving up demand for insulated wire and cable. Since these sources necessitate specialized cables for transmission and distribution, the market for insulated wire and cable is expanding.
Due to their high-voltage and long-distance transmission requirements, renewable energy sources necessitate the use of specialized cables. This is because renewable energy sources are frequently located far from where the energy is consumed, necessitating the deployment of specialized cables capable of transmitting power over great distances with minimal losses.
There is a growing demand for high-speed connectivity as people utilize digital devices and the internet more. This is increasing the demand for optical fiber cables, which are faster and more dependable than traditional copper lines.
With the increased usage of digital technology and the internet, there is an increasing demand for high-speed connectivity, which drives the demand for optical fiber cables. Unlike typical copper connections, optical fiber cables use light to transport data, making them faster and more dependable. Optical fiber cables are also more resistant to electromagnetic interference, making them a superior alternative for long-distance data transmission.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 334.7 Billion |
| Growth Rate (2023-2033) | 6.3 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 36 Tables |
| No. of Figures | 108 Figures |
The key players in the market include:-
- Amphenol Corporation,
- Belden, Inc.,
- Amhereo Technology Pty Ltd,
- Akcine Bedrove Lietuvos Pastas,
- Artesyn Embedded Power,
- Allied Wire & Cable, Inc.,
- AFC Cable Systems, Inc,
- Business Wire, Inc.,
- Audio-Technica US, Inc.,
- Alpha Wire.
Competitive Analysis:
The market players are investing heavily in expanding their presence in various segments around the world. The companies are also focusing on collaborations to augment their market positions.
A few of the recent developments in the Insulated Wires and cables Market are:
In April 2023 – Prysmian Group announced the launch of its range of ECO Cables that are aimed at promoting and proactively addressing the greener expectations of the telecom industry.
In June 2018 – Prysmian Group announced the acquisition of General Cable Corporation. With this acquisition, the company aims to expand its geographic footprint and also expand its product portfolio.
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Segmentation Coverd in This Report
- By Material:
- Metal
- Plastic
- Optical Fiber
- By End Use:
- Telecommunications
- Power
- Electronics
- Construction
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Insulated Wires and Cables Market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals segments segmented Insulated Wires and cables Market segmented in terms of material (Metal plastic, optical fiber), End User Industry (Telecommunications, Power, Electronics, Construction), and Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) from 2023 to 2033.
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Wire and Cable Market: The wire and cable market is expected to be valued at US$ 285.05 billion by 2031.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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