Copper Cable Market Size

Global Copper Cable Market Overview

Copper Cable Market Size was valued at USD 160.56 billion in 2023. The Copper Cable market industry is projected to grow from USD 166.44 Billion in 2024 to USD 214.06 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.20% during the forecast period (2024 - 2032). Utilization of copper wire in a wide range of applications such as power production, transmission, distribution, telecommunications, electronics circuits, and electrical equipment is a major market driver for the growth of the copper cable industry.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Copper Cable Market Trends

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  Rising demand for electricity is driving the market growth

  
  

Market CAGR for copper cable is expanding primarily as a result of factors like rising energy demand and substantial investments in building development. Additionally, the growth in expenditures in smart upgrades to the power transmission and distribution systems, together with the development of smart grids, increase demand for copper wire and cable. An increase in expenditures in new underground and submarine cables, for instance, has been caused by the smart grid technology's ability to meet the growing need for grid interconnections.

Additionally, increasing adoption of renewable energy sources such as wind and solar power require extensive infrastructure to generate and distribute power. Copper cables are essential components in the transmission and distribution of renewable energy, making them a crucial part of the renewable energy industry. As the world shifts towards renewable energy sources, the demand for copper cables is expected to rise significantly.

Furthermore, in the construction sector for various purpose, such as wiring buildings for electrical power and lighting, heating and air conditioning, and communication networks. With the increasing demand for infrastructure development, particularly in emerging economies, the demand for copper cables in construction is expected to rise significantly.

For instance, The ICA is a  organization representing copper producers, traders, and fabricators. The organization aims to promote the use of copper in various industries, including electrical, automotive, construction, and others. The ICA conducts research, provides technical support, and collaborates with industry stakeholders to advance the use of copper. Thus, driving the Copper Cable market revenue.

Copper Cable Market Segment Insights

Copper Cable Type Insights

The  Copper Cable market segmentation, based on type includes Wire and Cable. The Wire segment dominated the market, accounting for 65% of market revenue. Power generation, transmission, and distribution for telecommunications, electronic circuits, and numerous other forms of electrical equipment all use copper wire.

Figure 1: Copper Cable Market, by Type, 2022 & 2032 (USD billion)             

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Copper Cable application Insights

The  Copper Cable market segmentation, based on application, includes Building Wire, Communication, Power Distribution, and Automotive. The Power Distribution category generated the most income (70.4%). Electric power is transmitted and distributed by power cables, either outside or within structures. There are details on the various power cable kinds. For subterranean transmission lines that operate at high and extra-high voltages up to 400 kV, copper is the optimum conductor material.

Copper Cable Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American copper cable market area will dominate this market, owing to an increase expansion of the building industry. In addition, electrical maintenance and increase demand for a variety of grounding works using both insulated and non-insulated copper cables leads to market growth in this region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: COPPER CABLE MARKET SHARE BY REGION 2022 (%)                   

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe Copper Cable market accounts for the second-largest market share due Increasing demand for high-speed internet and data transmission. Further, the German Copper Cable market held the largest market share, and the UK Copper Cable market was the fastest growing market in the European region

The Asia-Pacific Copper Cable Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to home to many rapidly growing industrial and commercial sectors, such as manufacturing and finance. income. Moreover, China’s Copper Cable market held the largest market share, and the Indian Copper Cable market was the fastest growing market in the Asia-Pacific region.

For instance, growth in the Asia-Pacific copper cable industry is the increasing demand for high-performance copper cables for telecommunications and data transmission. Many countries in the region are investing heavily in upgrading their telecommunications infrastructure to meet the growing demand for high-speed internet and mobile connectivity.

Copper Cable Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Copper Cable market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Copper Cable industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Copper Cable industry to benefit clients and increase the market sector. In recent years, the Copper Cable industry has offered some of the most significant advantages. Major players in the Copper Cable market, including Aviva Metals (NBM Metals), Belden Inc., CommScope Holding Company Inc., Elcowire Group AB (Liljedahl Group AB) and others, are attempting to increase market demand by investing in research and development operations.

Aviva Metals is a US-based company that specializes in the production and distribution of high-quality copper, brass, bronze, and specialty alloys. It operates several facilities across the U.S., including a state-of-the-art foundry in Lorain, Ohio, and a distribution center in Los Angeles, California. Its product line includes a wide range of copper-based alloys, such as copper rod, copper sheet, copper tube, and copper bar, as well as brass and bronze products. It serves a variety of industries, including aerospace, defense, marine, electrical, and industrial. In addition to its copper-based alloys, it  also offers a range of copper cable products, including bare copper wire, tinned copper wire, and copper braided cable. These products are used in a variety of applications, including electrical wiring, grounding, and shielding.

Elcowire Group AB is a Swedish company that specializes in the production and distribution of high-quality copper wire and cable products. It operates several facilities across Europe, including production sites in Sweden, Denmark, Germany, and Poland. Its product line includes a wide range of copper wire and cable products, including round wire, flat wire, enameled wire, and specialty cables. Elcowire Group serves a variety of industries, including telecommunications, automotive, electrical, and industrial. Its copper cable products are known for their high quality, reliability, and performance. The company uses only the highest quality materials and employs strict quality control measures to ensure that its products meet the highest standards. Additionally, the Its experienced team of engineers and technical experts works closely with customers to develop custom solutions that meet their specific needs.

Key Companies in the Copper Cable market include

• Aviva Metals (NBM Metals)


• Belden Inc.


• CommScope Holding Company Inc.


• Elcowire Group AB (Liljedahl Group AB)


• Hitachi Metals Ltd.


• Nexans S.A.


• Ningbo Jintian Copper (Group) CO. LTD.


• Schneider Electric SE


• Atlas Holdings LLC


• Tongling Jingda Special Magnet Wire Co. Ltd.

Copper Cable Industry Developments

January 2023: Nexans S.A. entered into partnership with Authentic Vision, a leading provider of anti-counterfeiting and product authentication solutions, to tackle cable counterfeiting. Due to this strategic move, it protects Nexans' customers from the risks associated with counterfeit cables, such as poor quality, safety hazards, and potentially catastrophic failures.

April 2020: CommScope Holding Company Inc. expanded its portfolio of Category 6A shielded twisted pair (STP) copper cables with the launch of a new range of cables that meet and exceed industry standards for performance and reliability. These cables are designed to provide high-speed data transmission and are suitable for use in a wide range of applications, including data centers, telecommunications networks, and industrial environments.

April 2019: Atlas Holdings announced the acquisition of International Wire Group Holdings, Inc. which is designer and manufacturer of highly-engineered copper-based wire products headquartered in New York. This acquisition was done to increase the technical capabilities and serve the customers.

Copper Cable Market Segmentation:

Copper Cable Type Outlook

• Wire


• Cable

Copper Cable Application Outlook

• Building Wire


• Communication


• Power Distribution


• Automotive

Copper Cable Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America