India Wires and Cables Market Outlook
According to the report by Expert Market Research (EMR), the India wires and cables market size is projected to grow at a CAGR of 14.5% between 2024 and 2032. Aided by the extensive infrastructural developments, increasing urbanisation, and technological advancements, the market is expected to grow significantly by 2032.
Wires and cables, the indispensable veins of modern infrastructure, are central to the transmission of electrical and communication signals. Serving varied domains from real estate to the telecommunications sector, their demand in India has observed a steadfast rise, mirroring the nation’s rapid urban and industrial development. Not merely restricted to power generation, these cables also feature predominantly in consumer electronics, automotive sectors, and a plethora of other industries.
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A primary driver for the upswing in India wires and cables market growth is the proliferating infrastructural projects and the government’s dedicated focus on strengthening the power and telecom infrastructure. Schemes like the ‘Smart Cities Mission’ and ‘Digital India’ campaign underline the significance of robust infrastructure, accentuating the importance of high-quality wires and cables for seamless connectivity and efficient energy transmission.
Furthermore, the real estate boom, complemented by India’s burgeoning middle-class population, has led to an amplified demand for residential and commercial spaces. The consequent rise in construction activities invariably translates to heightened requirements for wires and cables, ensuring the safety and functionality of these newly constructed entities.
Simultaneously, technological advancements in the field of communication and the expanding reach of the internet have played pivotal roles in propelling the India wires and cables market demand. The increasing penetration of high-speed internet, coupled with the massive demand for broadband and DTH services, necessitates the extensive laying of communication cables, thus enhancing market prospects.
India’s thriving automotive industry further augments the India wires and cables market. Modern vehicles, with their intricate electrical systems and reliance on electronic components, require sophisticated cabling solutions. This surge in automotive production and the shift towards electric vehicles, equipped with advanced telematics and infotainment systems, bolster the demand for automotive cables.
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According to the India wires and cables market analysis, India’s commitment to sustainable energy solutions has led to the growth of renewable energy projects, particularly in solar and wind energy sectors. The establishment of these energy farms demands extensive cabling for power transmission, offering additional impetus to the wires and cables industry.
India Wires and Cables Market Segmentation
The market can be divided based on voltage, product, material, end use, and region.
Market Breakup by Voltage
- Low Voltage
- Medium Voltage
- High Voltage
Market Breakup by Product
- Power Cables
- Building Wires
- Flexible Wires and Cables
- EHV Cables
- Control/Instrumentation Cables
- Others
Market Breakup by Material
- Copper
- Aluminium
- Others
Market Breakup by End Use
- Construction
- Residential
- Commercial
- Telecommunications
- Energy and Power
- Automotive
- Aerospace and Defence
- Others
Market Breakup by Region
- North India
- South India
- East India
- West India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India wires and cables market. Some of the major players explored in the report by Expert Market Research are as follows:
- Polycab India Limited
- KEI Industries Limited
- R R Kabel Ltd.
- Universal Cable Limited
- Gloster Cables Limited
- Finolex Cables Limited
- V-Guard Industries Ltd
- Havells India Limited
- Apar industries Ltd
- KEC International Ltd.
- Sterlite Industries Ltd
- Others
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