The North America wires and cables market (5/n)
country insights:-
In North America, the wires and cables market is divided between the U.S. and Canada. The market in this region is well-established but continues to grow as older infrastructure is upgraded and new buildings are constructed. Construction projects, like schools, hospitals, power plants, offices, railroads, and homes, create a need for wires and cables to provide power, internet, and other electrical services.
The U.S. had the largest share of the market in 2022, holding 59.2%, and it is expected to grow the fastest in the coming years. This growth is driven by more people getting internet access, lower costs for broadband services, and the increasing use of smartphones. As a result, there’s higher demand for fiber-optic cables and other electrical products that deliver internet, cable TV, and other communication services to homes and businesses.
Canada held the second-largest share in 2022. The growth of the automotive industry in Canada also helps drive the market. Cars, especially electric and hybrid vehicles, need a variety of cables for things like wiring systems and advanced driving technologies. As electric cars become more popular and vehicle technology improves, the demand for special automotive cables continues to rise.
Key Companies & Market Share Insights:-
Key companies in the North America wires and cables market are focused on developing new products, forming partnerships, launching new products, and engaging in mergers and acquisitions to strengthen their market position. For example, in May 2023, MaxLinear partnered with JPC Connectivity to create advanced electrical wires. They are using MaxLinear's cutting-edge 5nm DSP (Digital Signal Processor) technology to improve data speeds in large data centers. This partnership aims to meet the growing demand for low-power, high-performance solutions for next-generation cloud infrastructure.
Similarly, in August 2019, Belden Inc. introduced its new Digital Electricity Cables, developed with VoltServer, the company behind Digital Electricity technology. These cables, available in hybrid copper/fiber and copper versions, are designed to transmit power and data over long distances.
Key North American Wires and Cables Companies:
- Belden, Inc.
- Encore Wire Corporation
- Fujikura Ltd.
- Furukawa Electric Co., Ltd.
- LEONI
- LS Cable & System Ltd.
- Prysmian Group
- Hitachi, Ltd.
- Nexans
- Siemon
- Southwire Company, LLC