Building Wire and Cable Market Size, Share, Trends, Growth and Forecast 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 81.24 Billion
CAGR (2026-2031)	5.48%
Fastest Growing Segment	Medium voltage
Largest Market	Asia Pacific
Market Size (2031)	USD 111.89 Billion

Market Overview

The Global Building Wire and Cable Market is expected to grow from USD 81.24 Billion in 2025 to USD 111.89 Billion by 2031 at a 5.48% CAGR. Building wire and cable consists of insulated conductors designed to distribute low voltage electricity for power and lighting within residential, commercial, and industrial facilities. This market is primarily propelled by accelerating urbanization and substantial investments in infrastructure development alongside a global shift toward electrification that increases the density of electrical systems in modern structures. According to the Indian Electrical and Electronics Manufacturers' Association, in the fiscal year ending March 2024, the cable industry sector recorded a significant production growth of 23.6 percent which highlights the robust demand in key developing regions.

Despite these positive indicators, the industry faces a substantial impediment regarding the volatility of raw material costs. The fluctuating prices of essential metals like copper and aluminum can unpredictably alter manufacturing expenses, thereby squeezing profit margins and complicating pricing strategies for manufacturers in the global landscape.

Key Market Drivers

Rapid urbanization and infrastructure development act as primary catalysts for the building wire and cable sector as nations modernize their physical assets to accommodate growing populations. This driver necessitates extensive electrical cabling for residential complexes, commercial skyscrapers, and public transport hubs, ensuring reliable power distribution in high-density environments. The surge in construction projects directly correlates with increased procurement of low-voltage wires and fire-resistant cabling systems essential for safety and compliance. According to the U.S. Census Bureau, November 2024, in the 'Monthly Construction Spending, September 2024' report, construction spending during September 2024 was estimated at a seasonally adjusted annual rate of USD 2,148.8 billion. This substantial capital injection into the construction vertical reinforces the steady demand for electrical components required to energize new and renovated structures.

Rising investments in renewable energy and power generation projects further stimulate market expansion by fundamentally shifting how electricity is generated and distributed within building networks. As economies transition toward electrification to meet sustainability targets, there is a critical need to upgrade aging electrical grids and integrate renewable sources such as rooftop solar panels into building infrastructures. This transition requires specialized cables capable of handling variable power loads and facilitating two-way energy flows between consumers and the main grid. According to the International Energy Agency, June 2024, in the 'World Energy Investment 2024' report, global investment in electricity grids is expected to reach USD 400 billion in 2024. These investments are crucial for major industry players to sustain revenue streams; for instance, according to Nexans, in 2024, the company reported standard sales of EUR 6,512 million for the full year of 2023, reflecting the scale of capital flowing into electrification and wiring technologies.

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Key Market Challenges

Raw material cost volatility, specifically regarding essential metals like copper and aluminum, acts as a substantial restraint on the Global Building Wire and Cable Market. This unpredictability in input costs directly destabilizes the financial planning of cable manufacturers, forcing them to operate with fluctuating profit margins. When metal prices spike unexpectedly, manufacturers must either absorb the increased costs, which erodes profitability, or pass them on to consumers, which renders their products less competitive in price-sensitive construction projects. Consequently, this uncertainty complicates long-term supply contracts and delays infrastructure investment decisions.

The impact of these supply-side constraints is evident in recent industrial data. According to the International Copper Study Group, in 2024, the growth rate of world copper mine production was revised downward to a mere 0.5 percent due to multiple operational disruptions and mine closures. Such constrained supply amidst growing demand creates an environment of sharp price fluctuations. This instability hampers the market's growth potential by compelling manufacturers to tie up capital in expensive inventory or hedging strategies rather than investing in capacity expansion or new product development.

Key Market Trends

The market is witnessing a surge in demand for hybrid cables combining power and data transmission, driven by the proliferation of smart buildings and Power over Ethernet technologies. As facilities integrate IoT sensors and automated lighting, the need for unified cabling infrastructure that minimizes installation space has intensified. This convergence enables centralized control of building management systems while reducing the physical footprint of electrical networks by eliminating the need for separate power and data lines. According to CommScope, February 2025, in the 'Fourth Quarter and Full Year 2024 Results', the Connectivity and Cable Solutions segment reported a 36.3 percent increase in net sales during the fourth quarter of 2024, primarily driven by the enterprise business sector which focuses on building connectivity.

Simultaneously, there is a rising utilization of eco-friendly and recyclable insulation materials as the construction industry aligns with green building standards. Manufacturers are replacing traditional non-recyclable plastics with sustainable alternatives like recycled polyethylene to lower the embodied carbon of projects. This shift is accelerated by corporate mandates requiring reduced supply chain emissions and the circular economy goals of major developers. According to Prysmian, April 2025, in the '2024 Sustainability Report', the company generated 43.1 percent of its total revenues in 2024 from sustainable solutions, reflecting the accelerated transition toward environmentally responsible wiring products within the global landscape.

Segmental Insights

The Medium Voltage segment constitutes the fastest-growing category within the Global Building Wire and Cable Market. This expansion is primarily driven by rapid industrialization and the development of large-scale commercial complexes, which require efficient power distribution systems to minimize voltage drops over significant distances. Furthermore, the increasing integration of renewable energy sources into building infrastructures necessitates robust cabling to handle higher power loads reliably. Adherence to rigorous safety standards established by the International Electrotechnical Commission supports this adoption, ensuring that these electrical networks meet essential global requirements for safety and performance.

Regional Insights

Asia Pacific maintains a dominant position in the global building wire and cable market, primarily driven by rapid urbanization and extensive infrastructure development in key economies like China and India. The sustained rise in residential and commercial construction activities creates substantial demand for reliable electrical connectivity solutions across the region. Furthermore, strict adherence to safety and quality protocols established by regulatory bodies, such as the Bureau of Indian Standards, ensures the widespread adoption of certified products. This continuous industrial expansion and the modernization of power grids firmly establish the region as the leading contributor to global market revenue.

Recent Developments

In July 2024, Prysmian Group finalized the acquisition of Encore Wire Corporation, a leading manufacturer of copper and aluminum electrical wire for the North American building sector. The transaction, valued at approximately $4.2 billion, significantly consolidated Prysmian's leadership in the region's wire and cable market. The merger enabled the company to incorporate Encore Wire's efficient, vertically integrated single-campus production model and broaden its product offerings for residential, commercial, and industrial construction. The combined entity is positioned to capture growth opportunities driven by grid modernization, data center expansion, and the broader electrification of the economy.
In June 2024, Nexans S.A. completed the strategic acquisition of La Triveneta Cavi, a prominent European manufacturer specializing in medium- and low-voltage cables. This transaction integrated a company with recognized expertise in the building wire, fire-retardant cable, and renewable energy sectors into Nexans' global operations. The deal added significant industrial capacity, including three cable production units and an in-house copper drawing facility in Italy. By combining these assets, Nexans aims to strengthen its portfolio of sustainable electrification solutions and accelerate its growth in the construction and infrastructure markets across Europe.
In May 2024, Southwire Company, LLC announced a significant expansion of its Cofer Technology Center in Carrollton, Georgia, to accelerate research and development in the electrical wire industry. The company revealed plans to add approximately 50,000 square feet to the facility, which will feature a specialized manufacturing line for producing R&D wire samples. This investment is designed to advance engineering efforts focused on sustainable components, such as creating cables with recyclable plastic insulation materials. The expanded hub will support the company's strategy to drive innovation in core and emerging markets, including grid transformation and sustainable building solutions.
In May 2024, Belden Inc. introduced a new range of cable products designed to enhance safety and connectivity in building infrastructure. The launch included new OSDP cables that meet rigorous safety standards for reaction to fire, providing a secure and cost-effective solution for access control systems in modern facilities. Additionally, the company expanded its portfolio with new addressable fire alarm cables engineered for critical safety applications. These innovations address the increasing need for reliable, high-performance wiring solutions in smart buildings and mission-critical environments, ensuring robust data transmission and compliance with stringent industry regulations.

Key Market Players

Prysmian Group
Nexans
Southwire Company
Sumitomo Electric Industries
Amphenol Corporation
Belden Inc.
LS Cable & System
Encore Wire Corporation
Havells India Limited
Polycab India Limited

By Voltage Rating	By Cable Type	By Material	By End User	By Region
Low Voltage Medium Voltage High Voltage Extra-High Voltage	Commercial Wire & Cable and Power Cable	Metallic and Non Metallic	Residential Commercial Industrial	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Building Wire and Cable Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Building Wire and Cable Market, By Voltage Rating:

Low Voltage
Medium Voltage
High Voltage
Extra-High Voltage

Building Wire and Cable Market, By Cable Type:

Commercial Wire & Cable and Power Cable

Building Wire and Cable Market, By Material:

Metallic and Non Metallic

Building Wire and Cable Market, By End User:

Residential
Commercial
Industrial

Building Wire and Cable Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Building Wire and Cable Market.

Available Customizations:

Global Building Wire and Cable Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Building Wire and Cable Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Building Wire and Cable Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Voltage Rating (Low Voltage, Medium Voltage, High Voltage, Extra-High Voltage)

5.2.2. By Cable Type (Commercial Wire & Cable and Power Cable)

5.2.3. By Material (Metallic and Non Metallic)

5.2.4. By End User (Residential, Commercial, Industrial)

5.2.5. By Region

5.2.6. By Company (2025)

5.3. Market Map

6. North America Building Wire and Cable Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Voltage Rating

6.2.2. By Cable Type

6.2.3. By Material

6.2.4. By End User

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Building Wire and Cable Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Voltage Rating

6.3.1.2.2. By Cable Type

6.3.1.2.3. By Material

6.3.1.2.4. By End User

6.3.2. Canada Building Wire and Cable Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Voltage Rating

6.3.2.2.2. By Cable Type

6.3.2.2.3. By Material

6.3.2.2.4. By End User

6.3.3. Mexico Building Wire and Cable Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Voltage Rating

6.3.3.2.2. By Cable Type

6.3.3.2.3. By Material

6.3.3.2.4. By End User

7. Europe Building Wire and Cable Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Voltage Rating

7.2.2. By Cable Type

7.2.3. By Material

7.2.4. By End User

7.2.5. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Building Wire and Cable Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Voltage Rating

7.3.1.2.2. By Cable Type

7.3.1.2.3. By Material

7.3.1.2.4. By End User

7.3.2. France Building Wire and Cable Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Voltage Rating

7.3.2.2.2. By Cable Type

7.3.2.2.3. By Material

7.3.2.2.4. By End User

7.3.3. United Kingdom Building Wire and Cable Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Voltage Rating

7.3.3.2.2. By Cable Type

7.3.3.2.3. By Material

7.3.3.2.4. By End User

7.3.4. Italy Building Wire and Cable Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Voltage Rating

7.3.4.2.2. By Cable Type

7.3.4.2.3. By Material

7.3.4.2.4. By End User

7.3.5. Spain Building Wire and Cable Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Voltage Rating

7.3.5.2.2. By Cable Type

7.3.5.2.3. By Material

7.3.5.2.4. By End User

8. Asia Pacific Building Wire and Cable Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Voltage Rating

8.2.2. By Cable Type

8.2.3. By Material

8.2.4. By End User

8.2.5. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Building Wire and Cable Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Voltage Rating

8.3.1.2.2. By Cable Type

8.3.1.2.3. By Material

8.3.1.2.4. By End User

8.3.2. India Building Wire and Cable Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Voltage Rating

8.3.2.2.2. By Cable Type

8.3.2.2.3. By Material

8.3.2.2.4. By End User

8.3.3. Japan Building Wire and Cable Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Voltage Rating

8.3.3.2.2. By Cable Type

8.3.3.2.3. By Material

8.3.3.2.4. By End User

8.3.4. South Korea Building Wire and Cable Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Voltage Rating

8.3.4.2.2. By Cable Type

8.3.4.2.3. By Material

8.3.4.2.4. By End User

8.3.5. Australia Building Wire and Cable Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Voltage Rating

8.3.5.2.2. By Cable Type

8.3.5.2.3. By Material

8.3.5.2.4. By End User

9. Middle East & Africa Building Wire and Cable Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Voltage Rating

9.2.2. By Cable Type

9.2.3. By Material

9.2.4. By End User

9.2.5. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Building Wire and Cable Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Voltage Rating

9.3.1.2.2. By Cable Type

9.3.1.2.3. By Material

9.3.1.2.4. By End User

9.3.2. UAE Building Wire and Cable Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Voltage Rating

9.3.2.2.2. By Cable Type

9.3.2.2.3. By Material

9.3.2.2.4. By End User

9.3.3. South Africa Building Wire and Cable Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Voltage Rating

9.3.3.2.2. By Cable Type

9.3.3.2.3. By Material

9.3.3.2.4. By End User

10. South America Building Wire and Cable Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Voltage Rating

10.2.2. By Cable Type

10.2.3. By Material

10.2.4. By End User

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Building Wire and Cable Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Voltage Rating

10.3.1.2.2. By Cable Type

10.3.1.2.3. By Material

10.3.1.2.4. By End User

10.3.2. Colombia Building Wire and Cable Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Voltage Rating

10.3.2.2.2. By Cable Type

10.3.2.2.3. By Material

10.3.2.2.4. By End User

10.3.3. Argentina Building Wire and Cable Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Voltage Rating

10.3.3.2.2. By Cable Type

10.3.3.2.3. By Material

10.3.3.2.4. By End User

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Building Wire and Cable Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Prysmian Group

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Nexans

15.3. Southwire Company

15.4. Sumitomo Electric Industries

15.5. Amphenol Corporation

15.6. Belden Inc.

15.7. LS Cable & System

15.8. Encore Wire Corporation

15.9. Havells India Limited

15.10. Polycab India Limited

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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