NEW YORK, Jan. 17, 2022 /PRNewswire/ — The electric wire and cable market in North America is expected to grow by USD 1.33 bn, at a CAGR of 1.35%, from 2020 to 2025. The report provides an updated analysis of the current market scenario, latest trends and drivers, and the overall market environment.
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The electric wire and cable market in North America is concentrated, and the degree of concentration will accelerate during the forecast period. Market vendors have to leverage the existing growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. Belden Inc., CommScope Holding Co. Inc., Corning Inc., Encore Wire Corp., Hitachi Ltd., Marmon Holdings Inc., Nexans SA, Prysmian Spa, Southwire Co. LLC, and Sumitomo Electric Industries Ltd. are among some of the major market participants.
The electric wire and cable market in North America report covers the following areas:
Electric Wire and Cable Market in North America 2021-2025: Key Vendor Offerings
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Belden Inc. – The company offers a line of products such as flex cable, power cable, electronic wire and cable, and hybrid copper fiber cable, among others.
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CommScope Holding Co. Inc. – The company offers a line of products such as coaxial cables, hybrid cables, power cables, and twisted pair cables, among others.
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Corning Inc. – The company offers a line of products such as closures, cables, optical fiber, and cable assemblies, among others.
Electric Wire and Cable Market in North America 2021-2025: Segmentation
By product, the power cable segment is expected to have significant market share growth during the forecast period. Power cables can be buried in the ground, run overhead, or exposed as permanent wiring within buildings.
Electric Wire and Cable Market in North America 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources.
Increasing investments in power transmission and distribution (T&D) to achieve target market demand has been instrumental in driving the growth of the market. The growth in the T&D network and the rise in the demand for renewable sources in countries such as the US, Canada, and Mexico will propel the growth of the electric wire and cable market in North America during the forecast period.
However, volatility in raw material prices might hinder market growth. An increase in the price of raw materials, particularly copper, has a direct impact on the profit margins of wire and cable manufacturers, thus hindering market growth.
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Electric Wire and Cable Market in North America 2021-2025: Key Highlights
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CAGR of the market during the forecast period 2021-2025
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Detailed information on factors that will assist electric wire and cable market in North America growth during the next five years
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Estimation of the electric wire and cable market in North America size and its contribution to the parent market
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Predictions on upcoming trends and changes in consumer behavior
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The growth of the electric wire and cable market in North America
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Analysis of the market’s competitive landscape and detailed information on vendors
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Comprehensive details of factors that will challenge the growth of vendors in the electric wire and cable market in North America
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Electric Wire And Cable Market In North America Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 1.35% |
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Market growth 2021-2025 |
USD 1.33 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
1.25 |
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Regional analysis |
North America |
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Performing market contribution |
North America at 100% |
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Key consumer countries |
US |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Belden Inc., CommScope Holding Co. Inc., Corning Inc., Encore Wire Corp., Hitachi Ltd., Marmon Holdings Inc., Nexans SA, Prysmian Spa, Southwire Co. LLC, and Sumitomo Electric Industries Ltd. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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