The global wire and cable market grew at a compound annual growth rate of 6.45% from 2019 to 26

According to the latest research report released by Market and Research, an international market research institution, the compound annual growth rate of the global wire and cable market from 2019 to 2026 is about 6.
45%, and the growing demand for wires and cables from various end users is the main factor
for the growth of this market.

According to the report, the acceleration of urbanization and industrialization in developing countries is one of
the main factors promoting this market.
At the same time, the growing demand for clean energy, vehicles, including new energy vehicles is another important factor
driving the growth of this market.

In terms of voltage level, HV/UHV cables are expected to grow at the highest CAGR during the forecast period, mainly due to the increasing demand for long-distance, low-loss transmission and the renewal of aging transmission facilities in developed markets that will also stimulate the development of this market
.
In terms of market revenue, the medium and low voltage cable market will be the largest market by revenue during the forecast period, and the demand for power infrastructure upgrades and improvements in developing markets is the major factor
driving the development of this market.

On the other hand, the high cost of raw materials and price instability are the biggest restraints facing the development of
this market.

From the perspective of manufacturers, the global wire and cable market is highly fragmented, and major manufacturers are increasing their market footprint
through new product development, market expansion, joint venture acquisitions, etc.
During the forecast period, Prysman, Nexans, Sumitomo Electric, LS Cable, Fujikura Cable, and Furukawa Electric will become the world's leading wire and cable manufacturers
.