According to the Graphical Research new growth forecast report titled “Europe Wire and Cable Market Size By Product (Coaxial Cable/Electronic Wire, Fiber Optics Cable, Power Cables, Signal & Control Cable, Telecom & Data Cables), By Voltage (Low, Medium High), By Application (Food & Beverages, Automotive, Material Handling/Logistics, Entertainment/Leisure, Utilities, Railways, Consumer Electronics, Building Infrastructure, Others), Industry Analysis Report, Country Outlook (UK, France, Netherlands, Italy, Spain, Sweden, Denmark, Belgium, Germany, Russia), Application Potential, Competitive Market Share & Forecast, 2020 – 2026” Share to Dominate all Over by 2026.
Europe Wire and Cable Market size will witness a significant growth owing to rapid investments across regional automotive and traction industry. Rising development of new charging infrastructure in order to raise the adoption of sustainable electric vehicles will drive the industry outlook over the forecast timeframe. In addition, growing internet and telecom consumer base with a flourishing service sector industry will drive the demand for high-speed data services, thereby enhancing the data cable demand.
Power cable demand is anticipated to grow on account of ongoing expansion of existing transmission and distribution systems along with rising investments toward development of new supply infrastructure. Increasing adoption of sustainable energy resources coupled along with growing demand for grid integration of clean energy systems will enhance the product adoption. Favorable government energy efficiency policies will further proliferate the wire and cable market growth during the forecast timeline.
Medium-voltage wires and cables usually range between 1,000 V to 33,000 V and find its wide range of applications across a large array of industrial, commercial, railways, and utility segments. The increasing adoption of small-scale renewable energy generation systems has significantly raised the product demand for these cables in the past decades. Rising need of stable power supply and subsequent investment in grid expansion will further enhance the medium voltage wire and cable market size over the forecast period.
Cable demand across entertainment and event management sector are projected to grow on account rising number of trade shows and live concerts across the region. As of now several companies are organizing various live events along with amusement and leisure activity to promote their products. Advancement in technologies have significantly provided an impetus to the entertainment and leisure industry, which has augmented the demand for various types of wires and cables across every region.
Germany wire and cable market is anticipated to witness a substantial surge owing to the governmental efforts to deploy sustainable technologies in order to meet their various energy efficiency targets. Introduction of several mandates towards the development of effective and sustainable electric infrastructure which will proliferate the cable demand over the forecast period. Moreover, the surging investment toward the development of new T&D networks for effective and reliable power transmission will further proliferate the adoption of high voltage cables.
Prominent manufacturers operating across the Europe Wire and Cable Market are offering innovative products to gain a competitive edge over other participants. Key industry players include Prysmian Group, Sumitomo Electric Industries Limited, Nexans, and NKT A/S amongst others.