company news about Analysis of the global wire and cable industry market in 2025

1. The global wire and cable market has grown steadily

Wires and cables are widely used in various sectors of the national economy and are the basic guarantee for the normal operation of the modern economy and society. The development level of the wire and cable industry is also a symbol and epitome of a country's manufacturing level. Developed countries such as Europe, the United States, and Japan industrialized earlier. At the end of the 20th century, they had formed a mature cable industry chain and contributed most of the global production capacity and demand at that time. They still occupy an important position in global supply and marketing, leading the development of the industry and basically monopolizing the global high-end market. At the same time, thanks to the rapid development of the Chinese market, the wire and cable industry in Asia has an increasingly larger share in the world. At present, the global wire and cable industry has entered a stage of stable growth, and to a certain extent, it has shown the characteristics of stock competition.

Overall, with the easing of supply restrictions and the recovery of demand applications, the wire and cable industry has shown its resilience. According to data released by CRU, in recent years, the global wire and cable market has shown an overall growth trend. In 2024, the global wire and cable market will be US$267.8 billion, a year-on-year increase of 11.4%.

2. The global wire and cable industry has shifted from Europe, the United States, and Japan to China, Southeast Asia, and other regions. The Asia-Pacific region is the largest regional market for wires and cables

The traditional manufacturing countries and regions of wires and cables in the world are mainly concentrated in Europe (Germany, France, Italy, Spain, etc.), North America (the United States), and Northeast Asia (Japan, South Korea). In recent years, the economic growth of emerging countries such as Asia has been relatively fast, and the production focus of wires and cables has shifted to Asia, driving the rapid development of the wire and cable industry in China, Vietnam, the Philippines, and Egypt in the Middle East.

The competition pattern of the global wire and cable market presents regional differentiation characteristics. Benefiting from power grid transformation, new energy projects and infrastructure along the "Belt and Road", the wire and cable market in the Asia-Pacific region accounts for 45%, with China and India dominating demand; Europe's market share is 25%, and offshore wind power and green energy transformation drive demand for high-end cables. Representative companies include Prysmian and Nexans; North America's wire and cable market accounts for 20% of the world, and the region is mainly supported by the renewal of old power grids and the construction of data centers. Representative companies are Southwire and Corning; the Middle East and Africa account for 10%, driven by urbanization and energy projects, but high-end products rely on imports. The demand characteristics of each region are significant, driving the diversified development of the global wire and cable industry.

3. The comprehensive strength of Chinese enterprises continues to improve in global competition

Based on operating income, market share and regional influence, the ranking of global leading manufacturers in 2024 (2023 operating data) is as follows. Among them, Chinese enterprises occupy 3 seats in the top 10 global wire and cable manufacturers in 2023. The international competitiveness and comprehensive strength of Chinese enterprises have been improved.

4. The global wire and cable industry still has huge development potential in new energy and emerging markets, but faces adverse effects such as raw materials and trade barriers

The global wire and cable industry will usher in significant growth opportunities in the field of new energy. The demand for ultra-high voltage submarine cables for offshore wind power grid connection has exploded. Expects that this market segment will reach US$12 billion in 2030. In addition, the demand for smart grids and energy storage supporting equipment has promoted the development of flexible DC transmission technology and prompted the upgrading of cable products. From a regional perspective, the increase in electricity penetration in Southeast Asia and Africa has also brought new incremental space to the industry.

In terms of technological innovation, the global wire and cable industry focuses on high-temperature superconducting cables, environmentally friendly material applications and digital production to reduce transmission losses, meet regulatory requirements and reduce costs and increase efficiency. However, the industry is also facing challenges such as raw material price fluctuations, trade barriers and technical barriers for high-end products. Fluctuations in copper and aluminum prices affect corporate profit margins, and anti-dumping investigations in Europe and the United States have intensified competitive frictions. In the future, companies need to respond to these challenges and seize growth opportunities through technological innovation and market expansion.