Title: Cable Industry Market Analysis- Size, Top Player, Segmentation and Trends
1Cable Industry Market Analysis- Size, Top Player,
Segmentation and Trends
- According to a recent study, the global cable
market size was approximately 145 billion in
2022 and is projected to grow at a CAGR of 6.2
from 2023 to 2030, reaching over 225 billion. - Market Demand Drivers for cable products include
- Rising internet mobile data usage requiring
network build outs. - Continued growth in construction of residential
and commercial buildings. - Investments in upgrading ageing electrical grid
infrastructure. - Increasing renewable energy projects requiring
cable connections. - Proliferation of internet-connected devices and
need for robust data cabling. - Recent Industry Developments
- Major cable companies are rapidly deploying
fiber-optic and 5G networks to offer
multi-gigabit internet speeds. - New subsea cable projects are underway to boost
global internet bandwidth. - Aluminium cables are gaining share versus copper
for some applications due to lower costs. - Vendors are innovating with products like mini
data centre cabling to enable edge computing. - Top Players in Cable Market Landscape
- Prysmian Group (11 share, 12B revenue) A
global leader supplying energy, telecom, and
fiber optic cables. Leveraging MA and
vertical integration strategy. - Nexans (7 share, 7.5B rev) Focuses on cables
for building, utilities, industrial applications.
Targeting high-value market segments.
2- Sumitomo Electric (4 share, 4.2B rev cabling)
Diverse portfolio includes auto wires plus info
energy cables. Strength in Asia markets. - Southwire (3 share, 6.5B rev) A leading North
American wire and cable maker investing in new
capacity and products. - General Cable (2 share, 3.7B rev) Recently
acquired by Prysmian. Solid market position in
North America. - Other major players include LS Cable System,
Furukawa Electric, Leoni, Fujikura, and Far East
Cable. - Strategic Positioning
- Top vendors are employing strategies like
- Vertical integration into raw materials like
aluminium and optical fiber. - Developing higher performance cabling products (e.
g. fire-resistant, underwater). - Tailored solutions for focus industries like
energy, telecoms, construction. - Geographic expansion into emerging markets.
- Selective MA to gain capabilities and cable
market share. - Market Segmentation of Cable Industry
- The Cable Market is majorly Segmented by these
3- Data Cables - 43.5 billion (30 share)
- Ethernet Cables 19.8 billion
- USB Cables 9.2 billion
- AV/Consumer Cables 8 billion
- Other Data Cables 6.5 billion
- Challenges, Opportunities and Trends in the Cable
Market - Challenges
- Raw Material Volatility - Cable manufacturing
relies heavily on inputs like copper, aluminium,
insulating materials and optical fiber. Prices
for these raw materials can fluctuate
considerably, impacting profitability. - Supply Chain Disruptions - The cable industry has
intricate global supply chains that can be
vulnerable to disruptions from events like the
COVID-19 pandemic, geopolitical tensions, port
congestion, etc. - Chinese Competition - Low-cost cable
manufacturers, especially from China, provide
aggressive pricing competition in certain
segments like building wire and fiber optic
cables. - Cyclical Demand - Much of the demand for cable
products is tied to cyclical construction markets
for residential, commercial and infrastructure
projects which can decline during economic
downturns. - Technical Disruption - Wireless technologies like
5G and satellite internet could theoretically
make some telecom/data cabling obsolete over the
very long-term, though deployment will take
decades. - Opportunities
- 5G FTTx Deployments - Nationwide build
outs of 5G mobile and fiber-to-the-home/premis
es networks are driving major new demand for
fiber optic and high-speed data cables.
4Electric Vehicle Growth - The proliferation of
electric vehicles will require upgrading
residential and public charging infrastructure,
boosting demand for electrical and data
cables. Renewable Energy Projects - Major
investments in solar, wind and other renewable
electricity sources will necessitate
installations of new transmission cables to
connect to the grid. Smart Building/City Demand -
Next-generation buildings and smart city projects
incorporate vast data cabling for connectivity,
energy management, security and other
applications. Emerging Market Growth - There are
tremendous long-term opportunities in developing
markets like India to build out robust
national cable-based communications and
electrical networks. Market Trends Aluminum
Cable Adoption - With high copper prices,
aluminium cabling solutions are gaining
interest as a more affordable option for certain
stationary power applications. Miniaturisation of
Data Cables - Ongoing innovations in
miniaturised, high-density cabling to support
edge computing and IoT deployments. Subsea Cable
Expansion - Major new subsea fiber optic cable
initiatives are underway to upgrade global
internet bandwidth between continents. Shift to
HVDC Transmission - There is a transition towards
high voltage direct current (HVDC) cables for
more efficient bulk transmission over very long
distances. Vertical Integration Moves - Major
cable manufacturers are vertically integrating
across raw materials like copper, aluminium and
fiber optic strands to enhance supply and
margins. Advanced Cable Tech - Producers are
investing in higher performance cable innovations
like compact robotics cables, fire-resistant
cables, underwater cables, etc.
5Conclusion
Despite headwinds like raw material costs and
competition, the cable market outlook remains
robust through 2030 and beyond. Driven by
megatrends like 5G/FTTx, electric vehicles,
renewable energy and smart infrastructure,
analysts project a 225 billion market by 2030 -
representing 6-7 annual growth for this vital
connectivity infrastructure.