According to the recent 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 poised to amass considerable growth through 2027.

The major factors driving the North America wire and cable market growth are the mounting demand for 5G technology, growing adoption of sustainable electrical infrastructure and renewable energy sources, and increasing popularity of smart consumer electronics where there is the maximum scope for innovation.

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Rapid deployment of smart grid networks, regulatory outlook that promote energy efficiency, and growing demand for uninterrupted power supply are also favoring the overall market outlook.

The North America wire and cable industry is segmented in terms of voltage levels, product type, application spectrum, and regional arena. The product segment is divided into Coaxial cable/electric wire, power cable, fiber optics cable, telecom & data cable, and signal & control cable.

By voltage type, the market is bifurcated into high, medium, and low segments. As per the report, low-voltage wire and cable are expected to account for a significant portion of the North America market share in the coming years. Growing microgrid adoption has driven the demand for low-voltage wire and cable in North America. Additionally, low transmission loss, decreased heat output, and resilience to pollution and toxins are likely to benefit leading industries.

The application spectrum of the wire and cable market in North America is classified into automotive, material handling/logistics, food & beverages, utilities, railways, entertainment/leisure, building infrastructure, consumer electronics, and others.  The automotive segment is predicted to grow significantly with the help of favorable government regulations regarding electric vehicles.

The regional scope of North America wire and cable business sphere extends to the U.S, Canada, and Mexico. The U.S market is poised to showcase for remunerative growth through forecast duration, given the regulatory norms favoring the integration of reliable and safe power supply infrastructure.

Shawcor Ltd., HELU KABEL GmbH, Southwire Company, Grupo Condumex, Nexans S.A., Lapp Group, Prysmian Group, SAB North America, Viakon, Furukawa Electric, TPC Wire & Cable Corp, Belden Inc., SAB North America and Southwire Company LLC are the leading companies formulating the competitive landscape of North America wire and cable marketplace.