Southeast Asia and Middle East Copper Wire and Cable Market Expected to Reach $52.63 billion by 2032 - Allied Market Research

According to a new report published by Allied Market Research, titled, “Southeast Asia and Middle East Copper Wire and Cable Market, by Type, and Region: Regional Opportunity Analysis and Industry Forecast, 2023-2032" The Southeast Asia and Middle East Copper Wire and Cable Market was valued at $22.74 billion in 2022, and is projected to reach $52.63 billion by 2032, registering a CAGR of 9.77% from 2023 to 2032.

Copper wire and cables are made from copper used in electrics. Copper wires with a cylindrical shape are the commonly used wires in electronics and electrical applications. The wire consists of a single conductor for electrical signals, unlike a copper cable wherein multiple copper wires are assembled into a common jacket.

The increasing adoption of copper wire and cable in Electric Vehicle (EV) charging stations serves as a significant demand driver for the copper wire and cable market. With the growing popularity of electric vehicles, the need for robust and efficient charging infrastructure rises, where copper's superior conductivity and durability make it a preferred choice. This trend propels the demand for copper wire and cable as essential components in EV charging station installations, fueling market growth.

Competition from alternative materials poses a significant restraint for the copper wire and cable market. Materials such as aluminum, nickel and fiber optics offer cost advantages and lightweight properties, challenging copper's dominance. While aluminum provides a cheaper alternative, fiber optics offer advantages in terms of weight and signal transmission. This competition pressures copper wire and cable manufacturers to innovate and differentiate their products to maintain market share and relevance amidst evolving customer preferences and technological advancements.

Rapid urbanization and the rise in investments across the industrial sector present a significant opportunity for the copper wire and cable market. As urban areas expand and industrial activities increase, there is a growing demand for extensive electrical infrastructure. Insulated copper wire, copper wire and cable are essential components in this infrastructure due to their superior conductivity, durability, and reliability. This trend drives the demand for copper wire and cable, offering manufacturers a chance to capitalize on the growing need for electrical solutions in urban and industrial settings.

The Southeast Asia and Middle East copper wire and cable market report is segmented on the basis of type, and region. On the basis of type, the Southeast and Middle East Copper Wire and Cable Market Insights is divided into copper rod, copper wire and copper cable.

On the basis of region, the copper wire and cable market trends are analyzed across Southeast Asia (India, Thailand, Malaysia, Singapore, Indonesia, Philippines, Vietnam, and Rest of Southeast Asia), and Middle East (Saudi Arabia, UAE, Qatar, Egypt, Jordan, Oman, Bahrain, Kuwait, Turkey, and Rest of Middle East.

The key players profiled in the report include Ta Win Holdings, METROD METALS PRIVATE LIMITED, Orion Wire and Cable, Inc., PT. Prysmian Cable, PT. KMI Wire and Cable, PT. Voksel Electric Tbk, PT. Jembo Cable Company Tbk, PT. Phenolic Prima, LS Vina Cables and System, and Sterlite Copper (A Unit of Vedanta Limited), Energya Group, Elsewedy Electric S.A.E., Oman Cables, Gulf Cables and Electrical Industries Group Co., GIC Magnet Wire FZCO, Dubai Cable Company (DUCAB), Union Copper Rod LLC, Riyadh Cables, Bahra Electric, Sarkuysan Electrolytic Copper, Jeddah cables company, Saudi Cable Company, Saudi Wires Company Ltd. The key strategies adopted by the major players of the Southeast Asia and Middle East Copper Wire and Cable Market is acquisition, agreement, award, contract, collaboration, and investment.

KEY FINDINGS OF THE STUDY

• The Southeast Asia and Middle East Copper Wire and Cable industry was valued at $22.74 billion in 2022.
• The copper wire segment was the highest revenue contributor to the Southeast Asia and Middle East Copper Wire and Cable market value with $9.9 billion in 2022.
• Southeast Asia was the highest revenue contributor, accounting for $18.22 billion in 2022, and is estimated to reach $44.52 billion by 2032.