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San Francisco, May 14, 2021/PRNewswire/ - Global Industry Analysis Corporation (GIA), a leading market research company, today released a report entitled "Insulated Wire and Cable-Global Market Trajectory and Analysis" New Market Research Report. This report presents a new perspective on the opportunities and challenges of major changes in the market after COVID-19.
Fact Overview Version: 18; Release Date: May 2021 Executive Participation: 11,913 Companies: 513-Participants covered include ABL Electronic Supplies, Inc.; AFC Cable Systems; AFL; Amphenol; Anbo Fu PLC; Asia Pacific Wire and Cable Co., Ltd.; Belden; CATV; Carlisle Interconnect Technology; Cerrowire Co., Ltd.; Coleman Cable; CommScope; Corning; Ducommun LaBarge Technology; Electrical Components International; Co., Ltd.; Finolex Cable Co., Ltd.; Fujikura Group; Furukawa Electric Co., Ltd.; General Cable Company; Hitachi Metals Co., Ltd.; Leviton Manufacturing Co.; LS Cable & System Limited; Molex Corporation; Nexans Corporation; NKT Cable Group Co., Ltd.; Olux Cable Co., Ltd.; Permanoid Co., Ltd.; Prysmian Group; Rea Magnet Wire Company, Inc.; South Line Company, Limited Liability Company; Sumitomo Electric Industry Co., Ltd.; Excellence Essex; TE connection; Tele-Fonika Kable SA; Okonite and other companies. Coverage: All major regions and key market segments: materials (metals, plastics, fiber optics); end-uses (telecommunications, power, electronics, construction, other end-uses) Geography: World; United States; Canada; Japan; China; Europe ; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia Arab; UAE; other parts of the Middle East; Africa.
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The global insulated wire and cable market will reach US$218.3 billion by 2026. Today insulated wires and cables are almost ubiquitous in the construction, electrical and electronic, power and telecommunications industries. As a medium for transmitting electricity, these devices provide key electrical fuel and power for electrical and electronic components. During the COVID-19 crisis, the global insulated wire and cable market is estimated to be USD 158.6 billion in 2020 and is expected to reach a revised USD 218.3 billion by 2026, growing at a CAGR of 5.6% during the analysis period. Metal wires and Cable is one of the market segments analyzed in the report, and is expected to grow at a compound annual growth rate of 5.2% by the end of the analysis period, reaching $139.4 billion. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the plastic wire and cable sector was readjusted to a revised compound annual growth rate of 5.9% for the next 7 years. In the post-COVID-19 period, the strong demand for optical cables and polymer optical fibers in the electronics, aircraft manufacturing, and automotive industries will greatly promote the global market. These fibers are made of polymers and are designed to transmit light signals. Products such as polymethyl methacrylate (PMMA) are suitable choices for optical transmission.
The US market size in 2021 is expected to be 21.5 billion U.S. dollars, while China is expected to reach 65.7 billion U.S. dollars by 2026. The US insulated wire and cable market is expected to reach 21.5 billion U.S. dollars in 2021. China, the world's second largest economy, is expected to have a market size of 65.7 billion USD by 2026, with a compound annual growth rate of 6.8% during the analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 3.2% and 3.3% respectively during 2020-2027. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 4.8%. A key trend worth noting is that fast charging cables are becoming more and more popular due to advances in smartphone technology. These cables are based on active copper wires and support data transmission in applications that use single or multiple silicon chips to improve cable performance. The latest developments related to smartphone technology enable these cables to provide a fast charging time of only 30 minutes, providing a USP for mobile players to attract customers.
By 2026, the optical fiber segment will reach USD 28.7 billion globally, and broadband users on cable, optical fiber and DSL platforms will continue to increase. However, as operators strive to expand their optical fiber-related infrastructure facilities, there has been a significant shift from DSL platforms to optical fiber among customers. This trend is not limited to developed countries, but can also be seen in developing markets. Fiber optic cable deployment has also witnessed a shift to local installation instead of focusing on regional and long-distance deployments in the early days. This shift is largely due to the focus on FTTx, which focuses on providing dense applications in cities and communities. Step up efforts to provide FTTx connectivity to new locations and customers, which heralds the growth of this market segment. In the global optical fiber field, the United States, Canada, Japan, China and Europe will promote the expected compound annual growth rate of 6.3% in this field. The total market size of these regional markets in 2020 is 12.8 billion U.S. dollars, and by the end of the analysis period, it is expected to reach 19.6 billion U.S. dollars. China will remain one of the fastest growing countries in this regional market cluster. Driven by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$5.4 billion by 2026, while Latin America will grow at a CAGR of 6.7% throughout the analysis period. more
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About Global Industry Analysts, Inc. and StrategyR™ Global Industry Analysts, Inc. (www.strategyr.com) is a well-known market research publisher and the only influencer-oriented market research company in the world. GIA proudly serves more than 42,000 customers from 36 countries/regions. For more than 33 years, GIA has been known for accurately predicting markets and industries.
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Source: Global Industry Analysts, Inc.
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