Copper Wire and Cable Market Outlook – 2030
The Global Copper Wire and Cable Market was valued at $156.11 billion in 2020, and is projected to reach $267.17 billion by 2030, registering a CAGR of 6.0% from 2021 to 2030.
Copper wire and cable are made from copper used in electronics. These wires come in cylindrical form and are commonly used in electronics and electrical applications. They consist of a single conductor for electrical signals, unlike a copper cable, wherein multiple copper wires are assembled into a common jacket.
The most common function of copper wire and cable is the conduction of electricity with minimal resistance, which causes voltage drops as well as energy dissipation in the form of heat. Copper wire offers more conductivity and requires less insulation and can be stretched effectively than other metals, though residential, commercial, and industrial applications require the installation of insulated copper wire.
Segment Overview
The copper wire and cable market is segmented based on type, voltage, application, and region.
Based on type, the market is bifurcated into wire and cable.
By Type
Copper Wire segment will dominate the market throughout the forecast period
Based on voltage, the low voltage segment dominated the growth of the market in 2020. This is due to the upsurge in usage of low-voltage cables in building wires, appliance wires, LAN cables, distribution networks, and others. However, the high voltage segment is projected to witness the highest growth rate during the forecast period. The wires and cables in this segment are used for the transmission of electricity at more than 1,000 volts. Demand from power distribution, telecom, oil & gas, aerospace, and defense drives the growth of this segment.
By Voltage
Low Voltage segment will generate the highest revenue during 2021 - 2030
Based on application, the market is divided into building wire, communication, power distribution, and others.
By Application
Power Distribution segment will maintain the lead during 2021 - 2030
Region wise, the copper wire and cable market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to develop at the highest growth rate during the forecast time frame.
By Region
Asia-Pacific region will dominate the market during 2021 - 2030
Increase in industrialization and urbanization, along with the surge in investments that are focused on infrastructure development across the developing countries in the Asia-Pacific, mainly drives the growth of the market. The Asia-Pacific region is experiencing huge growth in demand for light, power, and communication, significantly boosting the growth of the market.
Top Impacting Factors
Factors such as increased demand for electricity and robust investments in building construction mainly drive the growth of the copper wire and cable market. In addition, the development of smart grids along with the upsurge in investments in smart upgrading of the power transmission and distribution systems boosts the demand for copper wire and cable. However, volatility in the prices of raw materials is projected to hamper the growth of the market. On the contrary, rapid urbanization, along with the rise in investments across the industrial sector, is anticipated to create lucrative growth opportunities for the market during the forecast period.
Leading copper wire and cable market players such as Mitsubishi Materials Co., NBM Metals, Inc., Sandvik AB, and Elektrokoppar are focusing their investment on improving their portfolio by various strategies. For instance, in February 2020, Japan-based Mitsubishi Materials (MMC) acquired a 30% interest in Mantoverde copper mine and associated projects from Mantos Copper in Chile. Moreover, the companies aim for business expansion through mergers & acquisitions and partnerships to prevent the new entrants from capturing/entering the market.
Competitive Analysis
Competitive analysis and profiles of the major copper wire and cable market players such as Aviva Metals (NBM Metals), Belden Inc., CommScope Holding Company Inc., Elcowire Group AB (Liljedahl Group AB), Hitachi Metals Ltd., Nexans S.A., Ningbo Jintian Copper (Group) CO. LTD., Schneider Electric SE, Tatung Co. Ltd., and Tongling Jingda Special Magnet Wire Co. Ltd. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
The Asian and European countries under lockdown have suffered major losses of business and revenue due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, thereby leading to a slowdown in the growth of the copper wire and cable market in 2020.
However, the negative impact of COVID-19 on the copper wire and cable market is expected to remain for a short period of time, and by early 2021, the market is anticipated to observe a robust recovery rate along with the extensive demand for copper wire and cable products during post period. This is due to a rise in several market players reassessing their strategies to stabilize their supply chain.
Key Benefits For Stakeholders
- This study comprises an analytical depiction of the global copper wire and cable market size, along with the current trends and future estimations to depict the imminent investment pockets.
- The overall copper wire and cable market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current copper wire and cable market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the copper wire and cable market share of key vendors.
- The report includes the market trends and the market share of key vendors.
Copper Wire and Cable Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By VOLTAGE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | Belden, Inc., Elcowire Group AB (Liljedahl Group AB), Tatung Co., Ltd., Hitachi Metals, Ltd., Nexans S.A., Tongling Jingda Special Magnet Wire Co., Ltd., Aviva Metals (NBM Metals), Ningbo Jintian Copper (Group) CO., LTD., CommScope Holding Company, Inc., Schneider Electric SE |
Analyst Review
According to the CXOs of leading companies, the copper wire and cable market is going through enormous transformation and growth. Factors such as increased demand for electricity and robust investments in building construction mainly drives the growth of the copper wire and cable market.
In addition, the development of smart grids along with the upsurge in investments in smart upgrading of the power transmission and distribution systems boost the demand for copper wire and cable. On the contrary, rapid urbanization along with the rise in investments across industrial sector is anticipated to create lucrative growth opportunities for the market during the forecast period.
The global copper wire and cable market is anticipated to witness significant growth during the forecast period. Rise in demand for electricity and robust investments in building construction drive the growth of the copper wire and cable market. Moreover, the development of intelligent grids along with the increased investments in smart up-gradation of the power transmission and distribution systems boost the demand for copper wire and cable in the market. However, volatility in the prices of raw materials is projected to hamper the growth of the market.
The copper wire and cable market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of hardware; reliability; efficiency; and cost of the product and support services. Vendors operating in the market are developing advanced copper wire and cable solutions to improve the marketing strategies of enterprises, owing to the competition.
For instance, in September 2019, Spectra7 Microsystems Inc., a provider of high-performance analog semiconductor products for broadband connectivity markets and the Telecommunication Systems business unit of Leoni’s Wire and Cables Solution Division demonstrated new CRX Consortium Active Copper Cable technology at the China International Optoelectronic Expo (CIOE) 2019.
The Copper Wire and Cable Market is estimated to grow at a CAGR of 6.0% from 2021 to 2030.
The Copper Wire and Cable Market is projected to reach $267.17 billion by 2030.
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Increased demand for electricity and robust investments in building construction etc. boost the Copper Wire and Cable market growth.
The key players profiled in the report include Aviva Metals (NBM Metals), Belden Inc., CommScope Holding Company Inc., and many more.
On the basis of top growing big corporations, we select top 10 players.
The Copper Wire and Cable Market is segmented on the basis of type, voltage, application, and region.
The key growth strategies of Copper Wire and Cable market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Low Voltage segment would grow at a highest CAGR of 7.1% during the forecast period.
Power Distribution segment will dominate the market by the end of 2030.
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