NEW YORK, March 30, 2021 /PRNewswire/ --
The electric wire and cable market in North America is expected to grow by USD 1.33 billion during 2021-2025, as per Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 1%.
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Read the 120-page report with TOC on "Electric Wire and Cable Market in North America Analysis Report by Product (Power cable, Electronic wire, Building cable, and Others) and End-user (Electrical appliances, Construction, Automotive, and Other end-users), and the Segment Forecasts,2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales and supply functions.
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The electric wire and cable market in North America is driven by the increasing investments in power transmission and distribution (T&D). In addition, the growth in the transport industry is anticipated to boost the growth of the electric wire and cable market in North America.
The major factor contributing to the growth of the electric wire and cable market in North America, especially in the US, is increased investments in the T&D network for the effective transmission of power to various electrical equipment at different stages of the network. The T&D market in the US has a lot of room for expansion, given the rising need to replace the installed base of aging transformers. Also, the US has vast resources of renewable energy. The growth in the T&D network and the increase in the demand for renewable sources in countries like the US, Canada, and Mexico will drive the electric wire and cable market in North America over the forecast period.
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Major Five Electric Wire and Cable in North America Companies:
Belden Inc. operates business through Enterprise Solutions and Industrial Solutions. The company offers a line of products such as flex cable, power cable, electronic wire and cable, and hybrid copper fiber cable among others.
CommScope Holding Co. Inc.CommScope Holding Co. Inc. operates business through Connectivity, Mobility, Network & Cloud, and Ruckus Networks. The company offers a line of products such as coaxial cables, hybrid cables, power cables, and twisted pair cables among others.
Corning Inc. operates business through Display Technologies, Optical Communications, Specialty Materials, Environmental Technologies, Life Sciences, and All Others. The company offers a line of products such as closures, cables, optical fiber, and cable assemblies among others.
Encore Wire Corp.
Encore Wire Corp. operates business through the Electric building wire segment. The company offers a line of copper and aluminum, residential, commercial, and industrial building wire and cables.
Hitachi Ltd. operates business through IT, Energy, Industry, Mobility, Smart Life, Hitachi High-Tech, Hitachi Construction Machinery, and Hitachi Metal. The company offers a line of high-performance cables, automotive cables, and wireless components among others.
Electric Wire and Cable Market in North America Product Outlook (Revenue, USD billion, 2020-2025)
- Power cable - size and forecast 2020-2025
- Electronic wire - size and forecast 2020-2025
- Building cable - size and forecast 2020-2025
- Others - size and forecast 2020-2025
Electric Wire and Cable Market in North America End-user Outlook (Revenue, USD billion, 2020-2025)
- Electrical appliances - size and forecast 2020-2025
- Construction - size and forecast 2020-2025
- Automotive - size and forecast 2020-2025
- Other end-users - size and forecast 2020-2025
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