Copper Wire and Cable Market

Copper Wire and Cable Market Size, Share, Growth (2023-2028)

Copper Wire and Cable Market has been valued at US$ 156.54 Billion in 2023 and it is expected to reach the high market capital of US$ 264.35 Billion by 2028. During this forecast period, it is anticipated to grow with a healthy CAGR of 6.2% over 2022-2027.

Global Copper Wire and Cable Market Overview:

A single copper electrical conductor is known as a copper wire. It could be insulated or not. A copper cable is a collection of two or more copper wires that have been wrapped in a single jacket or sheath. Power generation, transmission, distribution, telecommunication, electronic circuitry, and a huge variety of electrical devices all use copper wire and cable. Since the development of telegraphs and electromagnets, it has proven helpful. In many different types of electrical wiring, copper is the most commonly utilised conductor. Of all the non-precious metals, copper has the lowest electrical resistance. The copper industry's most significant market is for electrical wiring in buildings. Electrical wire and cable conductors are made with around half of the copper that is mined.In many types of electrical wiring, copper serves as the electrical conductor. Power generation, transmission, distribution, telecommunications, electronic circuitry, and a myriad of other electrical devices all rely on copper wire. Electrical connections can also be made from copper and its alloys. The copper industry's most significant market is for electrical wiring in buildings. Electrical wire and cable conductors are made with around half of the copper that is mined.

Global Copper Wire and Cable Market Drivers And Restraints:

The market for copper wire and cable is expanding primarily as a result of factors like rising energy demand and substantial investments in building development. Additionally, the growth in expenditures in smart upgrades to the power transmission and distribution systems, together with the development of smart grids, increases demand for copper wire and cable. An increase in expenditures in new underground and submarine cables, for instance, has been caused by the smart grid technology's ability to meet the growing need for grid interconnections.It is anticipated that raw material price volatility may impede market expansion. Fibre optic cable is far more expensive than copper. In comparison to domestically made fibre optic networks, the market for copper is volatile because it is mostly based on foreign trade with Latin America. Because copper wire cannot be exposed to oxygen during storage, it is exceedingly expensive to do so. Additionally, because copper wire is heavier than other materials, shipping costs are greater. The future of copper wire is in jeopardy due to the introduction of fibre optic cable. While copper remains very essential, if not dominant, fibre optic systems are taking over, placing copper in a bad position due to its numerous shortcomings. Copper has significant disadvantages over fibre optic cable. Due of its inconsistent history, the majority of significant companies in the semiconductor sector avoid using copper. Due to its propensity for corrosion and general unreliability, many people refuse to use it in vehicle wiring.

Recent Developments in Global Copper Wire and Cable Market:

The Luminous brand of lighting and fans will be acquired by TPG-backed domestic manufacturer RR Kabel from French giant Schneider Electric. The agreement will help RR Kabel's consumer electricals division grow. The company will purchase from Schneider, in addition to the Luminous brand, the fan production site in Himachal Pradesh, the R&D centre, and the sales infrastructure associated to the home electricals sector.

REPORT COVERAGE:

Global Copper Wire and Cable Market Segmentation:

By Type:

• Wire.

• Cable.

Wire Segment is expected to have the dominant share in the Global Copper Wire and Cable Market During the Forecast Period. Power generation, transmission, and distribution for telecommunications, electronic circuits, and numerous other forms of electrical equipment all use copper wire. Electrical connections can also be made from copper and its alloys. The copper industry's most significant market is for electrical wiring in buildings. Electrical wire and cable conductors are made with around half of the copper that is mined. When greater strengths or better abrasion and corrosion resistance are needed, copper alloy conductors are preferable over pure copper in particular applications. However, compared to pure copper, the advantages that copper alloys offer in terms of increased strength and corrosion resistance are outweighed by their lower electrical conductivities.

By Voltage:

• Low.

• Medium.

• High.

Low Voltage Segment is expected to have the dominant share in the Global Copper Wire and Cable Market During the Forecast Period. Stranded copper or aluminium conductors are used in LV cables. even if wires with small conductors might employ solid conductors. The entire assembly could be flat or rounded. To keep the assembly's form, non-conducting filler strands might be inserted. Steel structural supports, for example, may be added to special purpose LV cables for overhead or vertical use. For outdoor overhead use, some LV cables might not have an outer covering.

By Application:

• Building Wiring.

• Power Distribution.

• Communication.

• Automotive.

Power Distribution Segment is expected to have the dominant share in the Global Copper Wire and Cable Market During the Forecast Period. The final step in delivering electricity to a final user is power distribution. Electricity from the transmission system is delivered to users by a power distribution system. Electric power is transmitted and distributed by power cables, either outside or within structures. There are details on the various power cable kinds. For subterranean transmission lines that operate at high and extra-high voltages up to 400 kV, copper is the optimum conductor material. Copper has better volumetric electrical and thermal conductivities than other conductors, which contributes to its dominance in subsurface systems. These advantageous characteristics of copper conductors reduce power loss, keep cable temperatures down, and conserve space.

Global Copper Wire and Cable Market Regional Analysis:

• North America is expected to have the dominant share in the Global Copper Wire and Cable Market During the Forecast Period. The growth of copper wire and cable for grounding in the nation and the area as a whole is being driven by the expansion of the building industry. Notably, the improvements consist of upkeep and repairs as well as substantial replacements, modifications, and expansions. With regard to electrical maintenance and other uses, these trends are predicted to increase demand for a variety of grounding works using both insulated and non-insulated copper cables. The prevalent broadband is primarily responsible for the demand for bare copper lines and insulated wires. The most typical types of cables used in the conventional HDSL and ADSL network are copper-based coaxial, LAN, and twisted. At the moment, fibre network penetration varies between the United States and Canada.

• Asia-Pacific.

• Europe.

• Latin America.

• Middle-East and Africa.

Global Copper Wire and Cable Market Key Players:

1. Aviva Metals (NBM Metals)

2. Belden Inc.

3. CommScope Holding Company Inc.

4. Elcowire Group AB (Liljedahl Group AB)

5. Hitachi Metals Ltd.

6. Nexans S.A.

7. Ningbo Jintian Copper (Group) CO. LTD.

8. Schneider Electric SE 

9. Tatung Co. Ltd.

10. Tongling Jingda Special Magnet Wire Co. Ltd.