As the statistics show, India is gaining a larger share and portion of the global market in the electric industry and manufacturing wire and cable. The wire and cable market size was valued at over USD 198 billion in 2021 and is expected to grow at a CAGR of over 8% between 2022 and 2030. Consumer preference to use flexible and fireproof wires and cables to protect the living environment and extend life expectancy will drive market expansion. The growing preference of economies to improve and replace existing electricity infrastructure creates a favorable growth scenario for the wire and cable market. 
Growing concerns related to power outages, fires, health, and other operational hazards will spur product rollout. In addition, the booming consumer electronics industry along with the expansion of network infrastructure will expand the industry's prospects. Increased investment in research and development to improve the product portfolio of various manufacturers will further drive market growth. The outbreak of the pandemic has slightly affected revenues in the wire and cable market. The development of utility-scale and sustainable energy projects has been slightly delayed due to the introduction of shutdowns and supply chain disruptions; However, the power and telecommunication sectors remain operational to maintain power infrastructure during the COVID-19 pandemic. Furthermore, growing the demand for replacement and renovation of aging grid infrastructure coupled with ongoing infrastructure construction will complement the market outlook. Significant growth is expected in the forecast period as a result of the large-scale use of power cables in networks with relatively low capacity. Moreover, the government's focus on improving existing transmission capacity due to the increase in the adoption of sustainable and energy efficient components will drive the product demand. 
Additionally, a shift in regulatory bias towards replacing traditional generator sets with high-capacity clean energy sources, coupled with rapid infrastructure development, will drive global market demand. Utilities are increasingly inclined to expand and upgrade existing networks The low-voltage wire and cable market will grow by 8% by 2030. Wide applicability in consumer electronics, communications, automotive, and other secondary power distribution applications is driving the market growth. In addition, the wide range of availability and voltage range up to 1,000 V will encourage product adoption. Moreover, the growing demand for efficient, continuous, and affordable power supply along with the booming communication and electronics industry will have a positive impact on the market size. Shift focus to upgrading and improving traditional transmission and distribution networks The utility-based wire and cable market will exceed $111 billion by 2030. Ongoing infrastructure and development projects and the government's focus on strengthening existing transmission and distribution infrastructure will drive product deployment. For example, in January 2022, Prysmian Group was awarded Samsung C&T's HVDC submarine cable project to supply power cables. The project includes the design, assembly, delivery, site acceptance and testing of a 320 kV HVDC single conductor cable with XLPE insulation. 
Through this submarine cable project, the Al Mirfa converter station will be connected to Al Ghallan, an artificial offshore island in the Arabian Gulf, in the United Arab Emirates. The wire and cable market in Asia Pacific is expected to grow at around 9% by 2030. Rising demand for electricity due to population growth and rapid industrialization will drive industry growth across Asia Pacific. Strong growth in the manufacturing and service sectors and the availability of cheap labor will complement the growth in market revenue. The regulatory focus on providing reliable and uninterrupted power to a large consumer base, coupled with government initiatives towards rural electrification, will further drive the scale of the industry. In addition, the increase in disposable income with the improvement in living standards will increase the demand for various consumer electronic products, thereby stimulating the use of wires and cables.
Wire industry market share India
Wire and cable industry and the market for these products in India are becoming more attractive since this market has unfulfilled potential. In the following text, we will share more information about this market. Considering all the mentioned information, after a projected contraction of -3. 3% in 2020, the global economy is expected to grow by 6% in 2021 before slowing to 4. 4% in 2022, according to IMF estimates. The smaller-than-expected decline in 2020 reflects higher-than-expected growth results in most regions in the second half of the year, after lockdowns were lifted and economies adjusted to new ways of working. 
Forecasts for 2021 and 2022 have been revised slightly, reflecting additional financial support in some major economies and an expected vaccine-driven recovery in the second half of the year. We are expecting the Global growth to decrease to 3. 3% over the medium term, reflecting expected damage to supply potential and pre-pandemic forces, including slower labor force growth related to aging in advanced and some emerging market economies. The COVID-19 recession is likely to leave fewer scars than the 2008 global financial crisis, thanks to an unprecedented policy response. The factors that shape the appropriate policy stance vary from country to country, particularly progress in normalization. Countries, therefore, need to adapt their policy responses according to the stage of the pandemic, the strength of the recovery, and the structural characteristics of the economy. Restrictions may begin to be lifted as vaccinations become common and health system backup capacity generally returns to pre-COVID-19 levels. Amidst the ongoing outbreak, policy should first focus on exiting the crisis, prioritizing health spending, providing targeted fiscal support, and maintaining an accommodative monetary policy while monitoring risks to financial stability. Strong international cooperation is essential to achieve these goals and to ensure emerging market economies. In healthcare, this means ensuring that sufficient vaccines are produced at affordable prices and distributed globally – including adequate funding for vaccine facilities – so that all countries can overcome the outbreak quickly and decisively. The Indian economy 2020-21 is one of the most difficult and challenging years globally and in India. The outbreak of the COVID-19 pandemic has presented India with complex economic and public health challenges. Moreover, the two crises interact in unpredictable ways, and there is considerable uncertainty in shaping policy responses. To prevent the virus from spreading, the government imposed a nationwide shutdown that brought the entire economy to a standstill for more than two months. 
India may have implemented one of the strictest lockdown measures compared to the rest of the world. To support the struggling economy, the Indian government has rolled out a stimulus package aimed at revitalizing the economy through a combination of fiscal and monetary support. This includes relief for small businesses, taxpayers, shadow banks, electricity distribution companies, real estate, organized sector employees, and contractors working with the government. The shutdown has brought many economic and social activities to a standstill. However, this has a beneficial effect on reducing COVID-19 mortality. The shutdown also gave the country's health system time to ramp up its response. The next step in the recovery strategy is structural reforms. These include amending the Basic Commodity Act to allow farmers to sell their produce at the highest price anywhere in the country, raising the foreign direct investment (FDI) limit in the defense sector from 49% to 74%, and amending labor laws to make them more flexible, among other things. Perhaps the most influential reform implemented during the year was "Aatmanirbhar Bharat", which promoted national self-reliance. This will be achieved by developing a globally competitive manufacturing center in India and by shifting tastes from imported to domestic products. Early signs of economic recovery became evident in the second half of the year as lockdown restrictions eased in India and around the world, economic activity resumed and a vaccine was developed. However, as the vaccination campaign began and the economy recovered strongly from the trauma of the pandemic, a major second wave of COVID-19 struck again at the end of FY21, bringing back lockdown restrictions to almost all parts of the country. 
Cable industry market share India
As we gave some information about the share and portion of India in the market, according to a report published by India Ratings & Research, the cable and wire industry saw revenue growth of about 11% CAGR during the financial years 2011 to 2020, which is likely to continue even in the next decade. Continued urbanization, higher infrastructure spending, electrification, and increases in data communications are likely to support this growth. Despite increased competition, consolidation of the industry will increase the market share of organized players. Since India's consumption per capita is lower than its global counterparts, cables and wires have strong growth potential. Major end-user sectors include real estate, construction, electrical, consumer electronics, and agriculture. The government's heavy investments in infrastructure and focus on advances in renewable energy and telecommunications technology bode well for continued strong growth in the long term. Growth in industry revenue is highly correlated with nominal gross fixed capital formation, with a three-year rolling average of around 0.8 times. In addition, the median multiplier for historical growth in industry income is approximately 1.1 times nominal GDP and 1.3 times gross fixed capital formation. According to an industry report by Yes Securities, the cable and wire (C&W) industry grew at a compound annual growth rate of 23% to 14.5 million km between FY 2013-14 and FY 2017-18. In terms of sales value, it registered a CAGR of 11% during the same period. The factors behind the growth of the cable industry in this industry have been and will be due to the tremendous growth in the public infrastructure, mainly led by investments in smart cities, railways, metros, airport development and modernization, the power sector, and the hydrocarbon sector, among others. 
The prospects of the wire and cable industry are linked to other industries namely: electricity, telecommunication, railways, real estate, steel, cement, oil refineries, infrastructure, etc. On the back of government initiatives, with investments in various infrastructure sectors, the demand for cables is expected to increase significantly. With the development of other related industries, the Indian wire and cable industry is destined to grow. According to IBEF, the oil and gas industry is one of eight core industries in India and plays an important role in influencing decision-making in all other important economic sectors. India's economic growth is closely linked to its energy demand; therefore, the demand for oil and gas is expected to grow even more, making the sector very favorable for investment. The government has adopted a number of policies to meet the increasing demand. It allows 100% foreign direct investment (FDI) in many areas of industry, including natural gas, petroleum products, and refineries, among others. From April 2000 to December 2020, the oil and gas sector attracted foreign direct investment worth $7. 91 billion, according to data released by the Department of Industrial and Domestic Trade Policy Promotion (DPIIT). India's energy demand is expected to grow faster than the energy demand of all major economies on the back of continued strong economic growth. India's energy demand is expected to double from 753. 7 Mtoe in 2017 to 1,516 Mtoe in 2035. Moreover, the country's share of global primary energy consumption is expected to triple by 2035. This will indirectly create long-term demand for industrial cables in the industry driven by huge investments in oil and gas. Cables are an integral part of the railway infrastructure and are used for power supply, control tasks, data transmission, etc. Indian Railways is one of the largest railway networks in the world, with a line length network covering 67,956 km, with 13,169 passenger trains and 8,479 freight trains carrying 23 million passengers and 3 million tons (MT) of freight per day from 7,349 stations. 
India's railway network is recognized as one of the largest monorail railway systems in the world. The Indian government has focused on investing in railway infrastructure by developing investor-friendly policies. It moved quickly to enable foreign direct investment (FDI) in railways to improve freight and high-speed rail infrastructure. Currently, a number of domestic and foreign companies are also looking to invest in Indian railway projects. The Indian railway network is growing at a healthy rate. In the next five years, the Indian railway market will become the third largest market, accounting for 10% of the global market. Indian Railways and Coal Minister Piyush Goyal said that Indian Railways is one of the largest employers in the country and can create 1 million jobs. As one of the most important components of the railway network, cables are bound to benefit from the continued expansion of railways.