From 2018 to 2026, the compound annual growth rate of the global cable market will reach 4.1%

TMR, an international market research institution, recently released a cable market research report that the compound annual growth rate of the global cable market from 2018 to 2026 is close to 4.
1%.

The cables in the report include low-voltage cables, medium-voltage cables, high-voltage cables, optical fiber cables, including energy cables and data cables
with copper and aluminum and fiber as the main materials.

The report believes that through 2026, the global cable market will continue to be affected
by a series of macroeconomic and industry-specific factors.
Asia Pacific is likely to continue to be at the forefront of global demand, with the market in the region set to grow at a CAGR of 4.
8% through 2026, higher than the global average
.

The global demand for cables is directly dependent on the expansion
of the industrial sector and infrastructure development in the power generation and transmission, telecommunications, residential and commercial sectors.
Rapid urbanization and growing global population have increased the demand in these industries, thereby providing multiple opportunities
for the global cable market.

The global cable market can be broadly segmented
on the basis of type, material, and application.
In terms of type, the low-voltage wire and cable segment is expected to hold a major market share
between 2018 and 2026.
Increasing urbanization is driving the expansion of transmission and distribution networks and the increase in residential and commercial buildings, which is a major factor
for the high share of this segment.
Moreover, the growing demand for low-voltage wires in automotive electrical installations is another factor
restraining its dominance throughout the forecast period.

However, among all types, the fiber optic cable segment is expected to expand
at a significant CAGR of 6.
1% due to its increasing application in telecommunication systems, television transmissions, and data networks.

On the basis of material, cables with copper conductors as the main material held the dominant share of the market in 2017 and are expected to lead the wire and cable market
during the forecast period.
Excellent electrical conductivity as well as high ductility and tensile strength make copper a versatile material
for wires and cables.
In addition to high performance and durability, copper has the ability to withstand stress with minimal wear and less maintenance
.
Thus, despite the high cost of metals, cables with copper conductors as the main material are expected to account for 64.
3%
of the total cable market share in 2026.

In terms of application, residential and commercial buildings and power transmission and distribution accounted for 64.
3%
of the market share in 2017.
Rapid urbanization, especially in developing countries in Asia Pacific and the Middle East, is driving the demand for wires and cables in the
residential and commercial building and power distribution industries.
In addition, the development of the transmission and distribution sector has been further boosted by effective government measures added globally to improve existing transmission and distribution networks
.

From the perspective of regional markets, the Asia-Pacific region dominated the global cable market in 2017, with China accounting for the majority of
its revenue.
The region's dominance in the market is attributed to its large population base, growing industrialization and urbanization, development of power transmission and distribution networks, increase in renewable energy production, large-scale automobile production, and government initiatives
to support the expansion or upgrading of existing infrastructure.

In terms of countries, China is expected to lead the wire and cable market
in the region throughout the forecast period.
The country has a large number of wire and cable manufacturers, and its output is more than
twice that of the second largest wire and cable producer.
Apart from China, countries including India, South Korea, and Japan are also expected to make significant contributions
to the wire and cable market in the Asia-Pacific region.
The Indian market is expected to expand
at a rapid CAGR of 5.
1% during the forecast period.
In 2017, North America and Europe accounted for a total market share of 34.
2%.

Due to the relative maturity of the wire and cable market in Europe and the United States, its market share is expected to decline
slightly during the forecast period.