The global wire and cable market includes companies operating in a wide range of product portfolio. Each category has some well-established key players and owing to different markets in which they operate and compete it is not feasible to determine key five players in the overall wire and cable market. However, based on parameters such as overall revenue, brand image, current wire and cable product portfolio, geographic reach, customer base, technology adoption & integration, new product/service/feature launches, partnerships, mergers & acquisitions, and other market-related activities, we have listed above five key players operating at a global level.
SUMITOMO ELECTRIC INDUSTRIES LTD, LEONI AG, FURUKAWA ELECTRIC INDUSTRIES LTD, PRYSMIAN GROUP, AND HITACHI. – PROMINENT MARKET PARTICIPANTS IN WIRE AND CABLE MARKET
The global wire and cable market is fragmented with a large number of players catering to domestic and international demand. The top five key players operating in the global wire and cable market include Sumitomo Electric Industries Ltd, Leoni AG, Furukawa Electric Industries Ltd, Prysmian Group, and Hitachi. Apart from these players there are others such as ASK Automotive Pvt. Ltd; R KABEL; Bergen Cable Technology; Elliott Manufacturing; Carl Stahl Sava Industries, Inc.; Lexco Cable; Cablecraft; Top Cable; Guangdong Jinlianyu Cable Industrial Co., Ltd; and Henan Sanheng Industrial Co., Ltd operating in the global wire and cable market. Key participants in the wire and cable market are adopting several growth strategies such as product launches, expansions, agreements, joint ventures, investments in futuristic technologies, partnerships, and acquisitions which is anticipated to propel the global wire and cable sales. Furthermore, high and fast-growing number of start-ups in this market are anticipated to drive the growth of the market over the forecast period of 2022 to 2028.
The wire and cable sector appears well-prepared to participate in the fourth industrial revolution. The sector is evolving quickly. Market and consumer demands have changed, and pressure on policies and worldwide competition has grown. Thus, the industry must introduce innovative products to stay competitive. The new industrial revolution brings two significant developments in the wire and cable sector. The demand for products from the businesses investing in notable innovation and awareness campaigns will soon be driven by the other key reason, which is driven by the other when the first is driven by the technology adaption point of view. More advanced, secure, commercial/industry-grade wires and cables will be needed for specialized equipment and goods. Further, although a few pieces of equipment are used in homes, wire and cable goods will still be considered under the commercial category; they must adhere to certain criteria set by the industry or legislators. The residential wires and cable market is expected to experience a new demand due to the growing use of IoT devices and equipment. There will be a desire for certain brands and variations of commercial-grade merchandise linked to well-liked IoT equipment. Thus, growth in Industry 4.0 will boost the demand for wire and cable.
Most of the market initiatives were observed in Asia Pacific (APAC) region, which has a high potential for wire and cable providers. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2020 | ASK Automotive have received award from Honda Motorcycles and Scooter India Limited (HMSI) for the 19th in various categories. This year HMSI awarded ASK Automotive in the category of Delivery management. | APAC |
| 2020 | RR Kabel is investing Rs 1000 crore in next three years in order to diversify and extend its product portfolio. RR Kabel has set a target to rise its turnover from Rs 7500 crores to 20,000 crores in coming five years. | APAC |
