THANK YOU FOR SUBSCRIBING
Fire-resistant cables also limit the spread of fire and the release of toxic gas. These cables will become more common in new large residential, industrial, and manufacturing buildings as the construction industry expands.
FREMONT, CA: Nonferrous wire, telecom wire, and fiber optic cable, among other products produced and sold by the wire and cable manufacturing industry, are critical to operations in various industries, including construction, consumer goods, telecommunications, and utilities. While these markets, among others, are expected to expand as a result of the Industry 4.0 technological transition, the overall market size of wire and cable manufacturing activities is expected to increase as well. According to current projections, the market will be worth USD 232 billion by 2025, with an Annual Growth Rate (AGR) of about 5 percent.
The following blog post offers an outline of the wire and cable industry's business growth trends and the industrial opportunities that these changes have created.
Fast-charging modules are built into newer mobile technologies, necessitating the use of fast-charging cables. Consumers can cut charging times in half (to around 30 minutes) by using these cables, which may help mobile makers sell more phones to new users.
The demand for copper-stranded wire is expected to rise at a compound annual growth rate of 1 percent from 2016 to 2025. This trend's primary drivers are increasing energy demands and the need for scalable and functional product growth. Construction, energy, infrastructure, and telecommunications are some of the industries that could see a growth in the usage of copper-stranded wire in the future. China, India, Africa, the UAE, Qatar, and the United States are all witnessing strong growth in the construction industry.
Fiber Optic Cables
The wire and cable industry's second-largest segment in 2018 was fiber optic cables. The size of the segment is projected to rise at a CAGR of 20.3 percent, owing to rising demand from end-users engaged in communications and telecommunications applications.
Insulated Wire and Cable
The demand for insulated wire and cable in the United States is forecast to rise by 6 percent per year through 2019. This expansion is due in part to the anticipated increase in construction activities, which would increase the demand for wire and cable.
See also: Top Wire and Cable Solution Companies