Global Cables Industry Report: Country Overview; Recent Events; Value Chain Analysis; Production Process; Price Analysis; Indicator Analysis; Market Dynamics: Drivers & Constraints, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Key Factors Influencing the Quotation; Key Supplier Analysis, 2022-2027

Cables Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Cable market reached a value of about USD 158.6 billion in 2021. The industry is projected to grow at a CAGR of around 2.3% in the forecast period of 2022-2027 to reach a value of about USD 181.8 billion by 2027.

The global Cables industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The growing electricity demand from emerging countries is driving the market's growth. The Asia Pacific is the highest category spender by region, driving the need for the Cable industry.

Industry Definition and Segmentation

A cable is an electrical cord that consists of one or more electrical conductors held together by a sheath, and power is transmitted through the assembly. Lines commonly transport electric energy (AC/DC); nevertheless, electromagnetic waveguides send electromagnetic waves in telecommunications areas. The Cables industry report comprises segments by application (Aerospace & Defense, Building & Construction, Oil & Gas, Energy & Power, and IT & Telecommunication) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

The Asia Pacific Region is Driving the Growth of the Industry

The Asia Pacific holds the largest share in the industry due to key power cable producers in the region. Furthermore, due to population expansion and urbanisation in nations like China, India, Japan, and South Korea, electrical consumption has increased, accompanied by increased investment in network and building infrastructure, resulting in the market's expansion.

The market is being driven by the growing need for electricity in emerging and industrialised nations such as China, India, Germany, the United States, and the United Kingdom and the demand for LV cables. Furthermore, HVDC cables in electrical transmission, LV cables for buildings and cars, and the active fibre optic cable market in telecommunications are all extensive development areas. In addition, the growing usage of smartphones and the global internet penetration are propelling the industry. Moreover, to meet the increasing demand for these products from the construction industry, cable manufacturers are expanding their fire-resistant cable production facilities, further boosting the market's development. Also, smart grid technology reserves are rising, the renewable energy output is increasing, and government measures to upgrade transmission and distribution networks are contributing to the market's growth.

Despite this, the high operating and maintenance costs of telecom cables will likely hamper the market growth.

Best Procurement Practices

The global Cables industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major international Cables regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers.

Category Management Studies

Two or more insulated wires are wrapped in one jacket to form a cable. Within a single insulating layer, there are always numerous conductors stranded together. Copper wire is made using an extrusion machine, which forces metal through a succession of extrusion dies to form a specific shape. The ingots (large bricks of pure copper) are stranded together. The cable is then delivered to the cutting machine after being coated. The connectors are scheduled to be connected as one of the last steps in building a thread. To solder the connections, an engineer working on the line will take down the outer jacket to reveal the copper. Injection moulding is used to apply an over mould to the connection in the final phase. This method is completed using an injection moulding machine.

Developments in the Sector, Further Bolstering the Procurement of Cables

The industry is being aided by the increased demand from the ICT sector, particularly in China, India, and Malaysia, and the strong market for intelligent systems and IoT. The growing popularity of IoT and similar gadgets have raised the global need for communications connections among the general public. Furthermore, electricity companies are beginning to implement fibre-optic communication systems. Most power utilities already have fibre-optic communication systems to monitor their power grid systems. By improving the communication between smart devices and electricity providers, utilities using fibre-optic networks create a stable, smart grid. As a result, some utilities are investigating fibre's potential. Additionally, the trend of renewable energy generation grows, leading to Encouragement from various governments and financial incentives, which has resulted in a significant increase in the use of renewable and alternative energy sources, thus resulting in the market's development.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Cables Industry Report

  • Prysmian S.p.A
  • Furukawa Electric Co., Ltd
  • Fujikura Ltd.
  • Sumitomo Electric Industries, Ltd.
  • Southwire Company, LLC.

Market Landscape

Due to the presence of some significant competitors, competitive rivalry in the wire and cable business is fierce. These companies have been able to innovate their offerings and gain a competitive advantage through research and development. Companies have used various techniques to achieve a presence in the power cable sector, including product launches, collaboration and partnerships, joint ventures, and acquisitions.

Key Initiatives by Companies

  • TE Connectivity's SPEC 55 Low Fluoride (LF) has announced the availability of a wire insulation system that may be used to decrease the risk of component corrosion caused by outgassing in local places. The company's Space, Launch, and Missile Platform clients often have fluoride off-gassing measurements in the single digits.
  • Houston Wire & Cable Company and Omni Cable, LLC announced the completion of HWCC's acquisition by OmniCable in January 2021. The combined firm will be a significant participant in national wire and cable redistribution, leveraging highly complementary businesses, products, and national footprint to serve both companies' clients better.

1.    Executive Summary
2.    Cables Market Snapshot

    2.1.    Cables Market Outlook
    2.2.    Cables Industry Analysis by Application
        2.2.1.    Aerospace & Defense
        2.2.2.    Building & Construction
        2.2.3.    Oil & Gas
        2.2.4.    Energy & Power
        2.2.5.    IT & Telecommunication
    2.3.    Region Overview
        2.3.1.    North America
        2.3.2.    Europe
        2.3.3.    Asia Pacific
        2.3.4.    Latin America
        2.3.5.    Middle East and Africa
3.    Impact of Recent Events
4.    Cables Value Chain Analysis
5.    Cables Production Process
6.    Trade Analysis
7.    Major Risk Factors in Sourcing
8.    Cables Cost Structure
9.    Cables Price Analysis
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Cables Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    Swot Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New Entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Feedstock Market Analysis
    13.1.    Market Overview
    13.2.    Price Analysis
14.    Industry Best Practices
    14.1.    Sourcing Strategy
    14.2.    Procurement Model
    14.3.    Contract Structure
    14.4.    Negotiation Levers
    14.5.    Pricing Model
    14.6.    Key Factors Influencing the Quotation 
15.    Key Supplier Analysis
    15.1.    Prysmian S.p.A
    15.2.    Furukawa Electric Co., Ltd
    15.3.    Fujikura Ltd.
    15.4.    Sumitomo Electric Industries, Ltd.
    15.5.    Southwire Company, LLC.

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Key Questions Answered in the Report

The global Cable market size was valued at USD 158.6 billion in 2021.

In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 2.3%.

The increasing internet and gadget penetration are essential drivers of the Cable market growth.

Prysmian S.p.A, Furukawa Electric Co., Ltd, Fujikura Ltd., Sumitomo Electric Industries, Ltd., and Southwire Company, LLC. are some of the prominent players in the market.

The Asia Pacific region of the Cable industry holds a significant share in the market.

Analyst Review

The global Cable market reached USD 158.6 billion in 2021, driven by the growing need for electricity in emerging and industrialised nations such as China, India, Germany, the United States, and the United Kingdom, and the demand for LV cables. With the increased demand from the ICT sector, particularly in China, India, and Malaysia, and the strong demand for intelligent systems and IoT, the market is expected to witness further growth in the forecast period of 2022-2027 with a CAGR of 2.3%. The market is projected to reach USD 181.8 billion by 2027. Some of the leading players in the industry are Prysmian Group, Furukawa Electric, Fujikura, Sumitomo Electric, and Southwire.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

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