You may be surprised to know that India is in the top 10 importers of raw copper ore which is a strategic material for the manufacturers of wire and cable.
The global wire and cable market size is expected to grow from USD 200.23 billion in 2022 to USD 294.73 billion in 2029, growing at a CAGR of 5.7% during the forecast period.
The global wire and cable market size is estimated at USD 181.28 billion by 2021.
Rising demand for renewable energy generation coupled with rising investment in power distribution and transmission is expected to boost the market growth.
Furthermore, increasing demand for IT facilities and data centers is expected to be a key trend stimulating market growth during the forecast period.
Rising demand for renewable energy generation is driving the market growth.
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The market has been heavily affected by the coronavirus pandemic as production has been hampered and production facilities have been temporarily closed.
Supply chain disruptions and reduced demand in the aerospace and automotive industries have adversely affected market growth.
However, the market is gradually recovering as countries invest in developing smart infrastructure.
The market is likely to experience significant growth in the coming years.
The adoption of green energy technologies by governments around the world to reduce the use of fossil fuels is increasing.
top wire cable features
The continuous construction of solar energy parks and wind turbines has increased the demand for wires and cables.
Moreover, the development of offshore renewable technologies such as offshore wind farms is expected to drive the market growth as wires and cables are laid under the seabed to supply electricity.
Rising demand for renewable energy is likely to drive the growth of the global wire and cable market.
Rising demand for wires and cables in IT facilities and data centers due to rising demand for big data is expected to fuel the market growth.
Growing adoption of cloud computing by businesses to eliminate maintenance and other miscellaneous costs is likely to spur market growth.
The increasing investments in the transmission and distribution industry for efficient transmission of electricity is likely to be a major growth driver for the wire and cable market.
Furthermore, an increase in investment in the industrial sector is expected to benefit the market.
However, fluctuating raw material costs may hinder market growth.
Top wire manufacturers in India
India is a developing country in terms of providing top quality cable and wire with lots of manufacturers.
The research report on the India Wire and Cable Market gives insights into the worldwide business analysis, including the leading players in the industry and the future competitive scenario.
The report on the India Wire & Cable Market that was generated by our experts is an exceptional piece of research that incorporates wire & cable growth, share, historical and forecast revenue, taking into consideration the challenges and opportunities.
In addition to this, the research includes an in-depth breakdown of risks according to product type, application, geographical region, and nations where it is anticipated to develop and dangers in these countries.
Top cable manufacturers in India
Wire and cable have a lot in common but yet there are some differences.
In the following list, we gave some information about the top companies and manufacturers in India.
Apar industries co., ltd.
Apar Industries Ltd was founded in 1958 by Late Shri Dharmsinh D. Desai.
The company is located in Mumbai.
It is one of the most established cable companies in India.
The company operates in various areas of electrical and metallurgical engineering.
It offers a range of products including specialty oils and lubricants, aluminum, and alloy conductors.
It is one of the top ten cable companies in India.
Finolex Cable Ltd.
Finolex Cables Ltd was established in 1958 and is headquartered in Mumbai.
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