Delray Beach – September 23, 2026 -- The global wire & cable market is projected to grow from USD 224.8 billion in 2026 to USD 296.3 billion by 2031, a 5.7% CAGR, according to MarketsandMarkets. Demand is pivoting from construction-led consumption toward grid reinforcement, renewable power evacuation, electric mobility, and AI-driven data-center build-out.
Asia Pacific outpaces global growth at 6.5% CAGR
Rapid data-center and 5G rollout across China, India, and Southeast Asia, combined with semiconductor manufacturing investment, railway electrification, and smart-city development, is driving Asia Pacific's outsized expansion. Regional cable manufacturers are scaling domestic production capacity to capture this demand.
Electronic wires and copper conductors dominate current segmentation
Electronic wires held a 30.3% share of the market by product type in 2025, while copper remains the largest conductor segment and PVC the leading insulation material by value. Energy & power was the top end-use industry with a 33.2% share in 2025.
Low-voltage and underground segments post the fastest growth despite already leading share
Low-voltage cables, already the dominant voltage category in 2025, are set to register the highest CAGR through 2031 as smart buildings, rooftop solar, EV charging, and building-automation installations expand. Underground installation, the largest deployment method in 2025, is also projected to grow fastest as utilities shift distribution networks below ground to cut weather-related outages and free up space in dense urban areas.
Automotive electrification pushes wiring complexity and CAGR higher
The automotive end-use segment is forecast to post the highest CAGR industry-wide, driven by high-voltage cabling, battery interconnections, and charging systems required for EV and hybrid powertrains. Adoption of zonal electrical architectures and high-speed data cables for ADAS and connected-vehicle features is adding further wiring volume per vehicle.
Nexans secures EUR 250 million EIB financing for 2024-2029 industrial program
In September 2025, the European Investment Bank provided Nexans with EUR 250 million (USD 289.8 million), split between a EUR 190 million (USD 220.2 million) InvestEU-backed loan and a EUR 60 million (USD 69.6 million) loan, to fund research, development, and industrial investment across its high-, medium-, and low-voltage cable operations. The capital backs a new facility in Lens, France, designed to lift copper wire production by more than 50% and recycle up to 80,000 tonnes of copper annually, alongside expanded output of low-carbon medium-voltage cables and offshore wind and submarine interconnection products.
Prysmian commits USD 500 million to Texas manufacturing expansion
Prysmian is investing USD 500 million in its Encore Wire campus in McKinney, Texas, including a new medium-voltage cable manufacturing facility exceeding 650,000 square feet, slated to become operational in 2027. Star players Fujikura, Furukawa Electric, and LS Cable and System continue to hold broad industry coverage, while Tratos Group, Hubbell, TT Cables, Studer Cables, and Brugg Cables expand product portfolios against copper and aluminum price volatility and tariff-driven localization pressures.