North America Wires and Cables Market Size, Share, Forecast: By Voltage: Low Voltage, Medium and High Voltage, Optical Fibre; By Material: Copper, Aluminium, Glass, Others; By End Use: Building and Construction, Aerospace and Defence, Oil and Gas, IT and Telecommunication, Others; Regional Analysis; Competitive Landscape; 2024-2032

North America Wires and Cables Market Outlook

The North America wires and cables market size reached a value of approximately USD 33.23 billion in 2023. The market is projected to grow at a CAGR of 3.2% between 2024 and 2032, reaching a value of around USD 44.12 billion by 2032.

Key Trends in the Market

Wires are solid electricity conductors made using elements like aluminium and copper. They are usually thin and are used to establish electrical connections between two devices. A cable is a thick wire or a group of wires inside a rubber covering that transfers electricity or electrical signals. It is generally made using insulating material to ensure a smooth, secure, and reliable flow of electricity with minimum power loss. Electric wires are essential for all electronic products and significantly aid the power generation and distribution processes.

• To cater to the growing energy requirements of several sectors in North America, there is an increased pressure on the power generation and distribution sectors to expand their operational capacity. Wires and cables are extensively used across the power generation sector to maintain a reliable and secure flow of electricity. The growing inclination towards renewable energy is also projected to support the North America wires and cables market growth.

• Rapid urbanisation, rising disposable incomes, and improved standard of living have resulted in the expansion of the infrastructure and construction sector in North America. The rise in both public and private construction activities has resulted in a surge in the demand for wires and cables as they are widely employed in building wirings. Hence, the North America wires and cables market demand is being supported by the growing demand for products from various sectors, including commercial, residential, telecom, energy and power, and automotive, among others.

• There is a growing inclination towards smart grid technologies, including advanced metering and distribution automation systems, in North America to reduce operational costs, minimise loss of power, and improve profit margins. Moreover, the rising demand for swift, reliable, and secure data networking and telecommunication services is one of the key North America wires and cables market trends. The emergence of 5G technology that offers high frequency with ultra-low latency is further expected to bolster the market demand in the forecast period.

Market Analysis

Based on voltage, the market is segmented into low voltage, medium and high voltage, and optical fibre. On the basis of material, the market can be segregated into copper, aluminium, and glass, among others. Based on end use, the North America wires and cables market segmentation includes building and construction, aerospace and defence, oil and gas, IT and telecommunication, and energy and power, among others, On the basis of country, the market is segmented into United States of America and Canada.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America wires and cables market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Southwire Company, LLC 

• Wesco International 

• Prysmian S.p.A 

• Sumitomo Electric Industries, Ltd. 

• Belden Inc. 

• Nexans S.A. 

• Encore Wire Corporation 

• Anixter, Inc. 

• Dacon Systems, Inc. 

• TE Connectivity 

• Others

Market Share by Voltage

Low voltage wires and cables are expected to hold a significant portion of the North America wires and cables market share in the forecast period owing to the high usage of these wires in establishing LAN connections, electronic applications, building wiring, and electricity distribution networks, among others. The increasing investments by the public and private sectors to expand the power generation and distribution sector and the introduction of smart grid technology are likely to further support the market growth. Moreover, increasing renovation projects of the existing buildings and the construction of new residential and commercial buildings are expected to aid the market demand in the coming years.

Market Share by End Use

The IT and telecommunication sector is expected to hold a healthy share of the North America wires and cables market over the forecast period owing to the growing use of data connection services in this region. The increasing investments by key players to upgrade the network architecture to provide secure and reliable connections with ultralow latency further assist the market demand.

Additionally, with the growing popularity of 5G technology and IoT and the emergence of Industry 4.0, a surge in demand for high-speed internet connection and telecommunication services can be witnessed, driving the overall North America wires and cables market expansion.

Competitive Landscape

Wesco International is a publicly traded American company headquartered in Pittsburgh, Pennsylvania. The company was incorporated in 1922 and deals in multinational electrical distribution, industrial communication, maintenance, repair and operating, and original equipment manufacturing.

Prysmian S.p.A is a multinational company headquartered in Milan, Italy. With its roots dating back to 1879, the company specialises in producing electrical cables for the energy and telecom sectors and optical fibres. Prysmian owns production centres across the world, including North America, Europe, Latin America, the Middle East, and the Asia Pacific.

Sumitomo Electric Industries, Ltd., founded in 1897, is a Japanese electrical wire and optical fibre manufacturing company that is headquartered in Chūō-ku, Osaka. The company is operational in more than 30 countries supplying wires and cables for various sectors, including automotive, information and communication, electronics, and environment and energy, among others.

Other market players included in the North America wires and cables market report are Southwire Company, LLC, Ltd., Belden Inc., Nexans S.A., Encore Wire Corporation, Anixter, Inc., Dacon Systems, Inc., and TE Connectivity, among others.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.