US Wire and Cable Market Size Likely to Reach at a CAGR of 2.94% By 2034

The US wire and cable market size was valued at USD 48.51 billion in 2025, and the total automotive engine cover market revenue is expected to grow at a CAGR of 2.94% over the forecast period, reaching nearly USD 56.78 billion by 2034.

US Wire and Cable Market Growth Factors and Dynamics

• Investments in smart grids have increased in the Asia Pacific, Middle East, and South America because of the increased energy demands in these regions. This will increase the demand for low-voltage cables. The growth of low-voltage cables is also influenced by the expansion of the power generation and power distribution sectors, which are derived from renewable energy sources, as well as the demand from automotive and non-automotive industries. The primary factors contributing to the general market’s expansion are urbanization and industrialization. The necessity of power grid interconnections in densely populated regions is generating a demand for submarine and subterranean cables. Regions such as North America and Europe are transitioning to the use of underground cables in place of overhead cables. The underground cables provide a dependable transmission of electricity and reduce the necessary space.

• The COVID-19 outbreak has had an impact on the development of the wires and cables market due to certain minor shifts in communication technologies. A few of the notable examples observed worldwide include the introduction of telehealth in the healthcare industry to reduce in-person visits, the shift to online courses and classes by universities and colleges due to global closures, and companies working remotely and adhering to WFH (Work from Home) policies. Consequently, communication and connectivity technologies have progressed during the pandemic. The telecommunications industry has significantly benefited from the pandemic, as it has underscored the genuine value of connectivity. Despite the economic downturn and pandemic, 5G progress in deployments and connections has persisted.

• The growth of the power cable market is significantly influenced by the increased deployment of new power utility infrastructure and the rise in the trend of renewable energy generation worldwide. For example, the power grid infrastructure in a growing number of developing countries is inadequate for the transmission of electricity. Consequently, governments in these countries are prioritizing the development of secure power grid infrastructure. Additionally, the growing prevalence of smart infrastructures stimulates the expansion of the electrical cable market. However, the complexity of power cable deployment planning and delays in government authorization may impede market growth during the forecast period. Conversely, the wires and cables market is presented with advantageous growth prospects as a result of an increase in global power demand.

Report Scope

US Wire and Cable Market Strategies/Key Developments

• The global wire and cable market is dominated by the following companies: Nexans S.A., Prysmian Group, Furukawa Electric Co. Ltd., Leoni AG, and KEI Industries Ltd. In order to expand their presence in the global wire and cable industry, the top market participants have implemented a variety of strategies, including product launches, acquisitions, expansion, agreements, product development, innovation, branding, collaboration, investment, contracts, and upgrading.

• Nexans finalized the acquisition of Reka Cables in April 2023. This acquisition is consistent with Nexans’s objective to become a solely electrified entity and to make a meaningful contribution to carbon neutrality. Reka Cables is a pre-acquisition subsidiary of Reka Industrial and a manufacturer of premium high-, medium-, and low-voltage cables based in Finland.
• Nexans acquired Centelsa from Mexico in April 2022. Centelsa is a premium cable manufacturer that specializes in utility and construction applications. The acquisition is a significant milestone in Nexans’ strategy to become an electrification entity that concentrates on the entire value chain, which begins with generation and extends through transmission, distribution, and usage of sustainable energy.
• Enel Green Power’s 187 MW La Loma solar farm in Colombia was supplied by Nexans with over 390 km of low-voltage (LV) and medium-voltage (MV) cables in January 2022. The solar energy conversion systems of the project were interconnected with the cables, which were manufactured at facilities in Colombia and Peru.
• Prysmian Group announced in June 2023 that it would invest approximately $128.4 million in its strategic facility located in Pikkala, Finland. This investment is a supplement to the one it provided in 2022. The objective is to further enhance the production capacity of the 525 kV HVDC submarine cable systems in order to meet the demand generated by the necessity to develop and upgrade power transmission infrastructure for the energy transition.

List of the prominent players in the US Wire and Cable Market:

• A.E. Petsche
• Alpha Wire
• Amphenol Corporation
• Apar Industries Ltd
• Belden Inc.
• Carlisle Interconnect Technologies
• Collins Aerospace
• Encore Wire Corporation
• Fujikura Ltd.
• Furukawa Electric Co. Ltd.
• Glenair Inc
• Others

The US Wire and Cable Market is segmented as follows:

By Cable Type

• Copper Cables
• Fiber Optic Cables
• Others

By Application

• Telecom
• Industrial
• Building & Construction
• Power Utilities
• Military
• Commercial
• Space