The major companies in the market are Sumitomo Electric Industries Ltd., Guardian Industries, LLC, Prysmian Group, Nexans SA, Southwire Company, LLC, LEONI AG, Corning Incorporated, Eaton Corporation plc, Fujikura Ltd.
New York, March 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Wires And Cables Global Market Report 2022” – https://www.reportlinker.com/p06247440/?utm_source=GNW
and Berkshire Hathaway Inc.
The global wire and cable market is expected to grow from $210.35 billion in 2021 to $232.38 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $334.60 billion in 2026 with a CAGR of 9.5%.
The wire and cable market includes sales of new wire and cable by entities (organizations, sole proprietorships, and partnerships) that manufacture insulated fiber optic cables which are network cables containing strands of fiberglass to inside an insulated box, and coaxial cables and other insulated cables non-ferrous wires which are copper and aluminum wires used by industries such as energy, automotive, telecommunications and others. The wire and cable market does not include sales of service, repair and maintenance of wire and cable.
The main types of wires and cables are other cables, fiber optic cables and coaxial cables. A fiber optic cable is a type of network cable made up of strands of glass fibers enclosed in an insulated casing.
They are intended for long-distance, high-performance networking and data communications. The various sales channels include OEM and aftermarket which are used by energy, telecommunications, building and construction, industrial manufacturing, automotive, medical equipment and other end users.
Asia Pacific was the largest wire and cable market region in 2021. North America was the second largest wire and cable market region.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Technological advancement in the communications industry is expected to be a key driver for the wire and cable market. Advances in fiber optic networks and increased investment in high capacity network infrastructure and wired broadband technologies will lead to increased demand for fiber optics. cables.
Fiber optic cables support higher bandwidths and faster data transmission than standard coaxial cables. Hence, an increase in the demand for fiber optics will support new and advanced fiber optic cable manufacturers.
Many developed and developing economies impose restrictions on free trade, which are expected to hinder the growth of the wire and cable market over the forecast period. Post-Brexit, trade restrictions between the UK and other European countries are expected to increase, while the new United States-Canada-Mexico Trade Agreement, USMCA, imposed by the US government, is expected to increase the prices of metal components imported from Mexico.
The increase in tariffs on foreign steel, especially from China, by the US government to 25% has increased production costs for wire and cable manufacturers. Hence, reduction in global free trade is expected to hamper the growth of the wire and cable market due to expected increase in production costs and tariffs.
The demand for miniature connectors is rapidly increasing in industries such as mobile technology, aerospace, defense and medical equipment to improve connectivity and minimize space in electrical and electronic devices. miniature connectors.
Micro connectors are rectangular cross sections that carry power and data. Miniature connectors can handle approximately 10 Gbps data and advanced miniature board-to-board connectors can handle approximately 20 Gbps data.
For example, some of the major companies offering miniature connectors include AMETEK, Omnetics, Amphenol, and molex.
The countries covered in the Battery market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, l Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel. , Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06247440/?utm_source=GNW
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