According to the research report titled ‘North America Wire and Cable Market Forecast 2027 By Voltage, By Product, By Application, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America wire and cable market is expected to register considerable growth through 2027.
 

Growing demand for IoT and 5G technologies, rising deployment of green electrical infrastructure, and rapid expansion of consumer electronics sector are some of the key factors driving the growth of North America wire and cable market.

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Regulatory reforms that promote using sustainable energy sources in tandem with increasing development of smart grid networks are also aiding towards the market expansion. Rising demand for continuous power supply has also impelled the demand for wires and cables in North America.

By voltage type, the report cites that the low segment is predicted to expand significantly during the study period. Widespread penetration of microgrids has augmented the adoption rates for low voltage wires and cables. Additionally, focus among manufacturers to reduce transmission loss and develop chemical as well as pollution resistance cables with less heat generation are favoring the overall market outlook in North America.

Highlighting the application spectrum, North America wire and cable industry size from the automotive sector is poised to witness considerable growth by the year 2027. Favorable regulatory outlook towards electric vehicles and growing demand for safe and convenient automotive are fueling the segmental share.

Meanwhile, the utilities segment is also likely to generate lucrative returns for the market participants in the ensuing years. Growing investment in improving residential and commercial facilities and rising deployment of smart distribution systems are facilitating the business scenario in North America.

Geographically, the report claims that U.S. is expected to account for the largest market share by the end of the forecast period. This is due to favorable federal reforms that promote reliable and safe power supply, growing cross-border transmission networks, and implementation of FTTH (fiber-to-the-home) solutions.

The major players operating in North America wire and cable industry landscape are TPC Wire & Cable Corp., Helu Kabel GmbH, SAB North America, igus Inc., Grupo Condumex Inc., Belden Inc., Furukawa Electric Co. Ltd., Viakon, Shawcor Ltd., Deca Cables Inc., CommScope Inc., Lapp Gruppe, Southwire Company LLC, Elsewedy Electric Co S.A.E., Nexans S.A., and Prysmian S.p.A.