Industrial Building Wire and Cable Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 21.44 Billion
CAGR (2026-2031)	6.33%
Fastest Growing Segment	Medium voltage
Largest Market	Asia Pacific
Market Size (2031)	USD 30.99 Billion

Market Overview

The Global Industrial Building Wire and Cable Market will grow from USD 21.44 Billion in 2025 to USD 30.99 Billion by 2031 at a 6.33% CAGR. Industrial building wire and cable comprises insulated conductors and protective jacketing designed for the distribution of electrical power and control signals within manufacturing facilities and utility infrastructures. The market is primarily propelled by the global imperative to modernize aging electrical grids and the accelerating integration of renewable energy sources which necessitate upgraded transmission systems. Additionally, the widespread adoption of industrial automation and smart manufacturing technologies drives the demand for reliable, high-performance cabling solutions capable of withstanding harsh operational environments. According to the Indian Electrical and Electronics Manufacturers' Association, in 2024, the low voltage power cable segment recorded a production growth of 30 percent, reflecting the robust demand for infrastructure components in key industrializing economies.

However, the consistent expansion of the market encounters a significant impediment regarding the volatility of raw material prices. The unpredictable cost fluctuations of essential metals such as copper and aluminum directly influence manufacturing expenses and profit margins, creating financial uncertainty that can delay the execution of large-scale industrial projects and hinder long-term investment planning.

Key Market Drivers

The surge in the construction of manufacturing facilities serves as a primary catalyst for market expansion, creating immediate requirements for extensive power distribution and control wiring systems. As nations prioritize domestic production and supply chain resilience, new industrial plants necessitate robust cabling infrastructure to support heavy machinery and automated systems. According to the U.S. Census Bureau, September 2024, in the 'Monthly Construction Spending, July 2024' report, manufacturing construction spending in the United States reached a seasonally adjusted annual rate of $237.1 billion. This physical infrastructure development directly correlates with substantial order volumes for major cable suppliers. For instance, according to Prysmian, in 2024, the company reported a transmission backlog of approximately €18 billion as of March, reflecting the sustained industrial and utility demand for high-performance electrical connectivity.

Rising investments in renewable energy and sustainable power solutions are also fundamentally reshaping demand patterns for industrial wiring. The transition toward low-carbon energy sources requires the installation of generation units and the substantial expansion of transmission grids to integrate decentralized power feeds. This mandates the deployment of specialized cables engineered to resist environmental stressors while minimizing transmission losses over long distances. According to the International Energy Agency, June 2024, in the 'World Energy Investment 2024' report, global investment in electricity grids is projected to reach USD 400 billion in 2024. This capital injection ensures a steady procurement channel for medium and high-voltage cables, as utilities and industrial operators upgrade networks to handle variable energy loads and adhere to efficiency protocols.

Download Free Sample Report

Key Market Challenges

The volatility of raw material prices constitutes a substantial impediment to the Global Industrial Building Wire and Cable Market, introducing severe financial uncertainty that disrupts manufacturing operations. Copper and aluminum represent a significant portion of the production costs for industrial cables, and their erratic price movements directly compromise profit margins. When material costs surge unexpectedly, manufacturers face the difficult choice of absorbing these expenses or passing them on to clients, often resulting in the postponement of large-scale infrastructure projects as buyers wait for market stabilization. This unpredictability complicates long-term investment planning and hinders the ability of suppliers to maintain consistent pricing structures, thereby stalling contract execution.

This instability in input costs creates a tangible contraction in manufacturing activity and material uptake. According to the International Wrought Copper Council, in 2024, the demand for refined copper in the EU-27 and UK region was forecast to decline by 1.8 percent compared to the previous year. Such a decrease in essential raw material consumption underscores how price volatility and associated economic pressures actively constrain industrial output. Consequently, the inability to accurately forecast and manage production expenses restricts the sector's capacity for steady expansion.

Key Market Trends

The industrial sector is rapidly migrating from complex legacy fieldbus systems to advanced Ethernet architectures like Single Pair Ethernet (SPE) to support the Industrial Internet of Things (IIoT). This technological shift allows for the simultaneous transmission of high-speed data and power over a single twisted pair of wires, significantly reducing cabling weight and space requirements while extending consistent IP-based communication to edge sensors. This consolidation is critical for enabling real-time diagnostic tools and smart manufacturing protocols that require high bandwidth and low latency. According to HMS Networks, May 2025, in the 'Industrial Network Market Shares 2025' report, Industrial Ethernet technologies accounted for 76 percent of all newly installed nodes in factory automation, highlighting the decisive displacement of traditional wiring standards.

There is a fundamental transition toward the manufacturing of sustainable wire and cable solutions, driven by stringent environmental mandates and the decarbonization strategies of global industrial entities. Manufacturers are reformulating insulation using recyclable polyethylene and Low-Smoke Zero-Halogen (LSZH) compounds to minimize toxic emissions and enhance fire safety in enclosed production environments. This trend compels suppliers to innovate their product lifecycles, ensuring that cabling infrastructure aligns with circular economy principles and corporate net-zero goals. According to Prysmian, April 2025, in the '2024 Sustainability Highlights' document, the company reported that 43 percent of its total 2024 revenues were generated from sustainable solutions, reflecting a substantial market reorientation toward eco-friendly connectivity components.

Segmental Insights

The Medium voltage segment is currently emerging as the fastest-growing category within the Global Industrial Building Wire and Cable Market. This accelerated expansion is primarily driven by the escalating global demand for grid modernization and the integration of large-scale renewable energy projects, such as wind and solar farms, which require efficient power collection systems. Furthermore, the International Energy Agency highlights the critical necessity of upgrading electrical infrastructure to support the burgeoning electric vehicle charging network. Consequently, industrial sectors are increasingly adopting medium voltage solutions to ensure reliable, high-capacity power transmission for these evolving energy requirements.

Regional Insights

The Asia Pacific region leads the Global Industrial Building Wire and Cable Market, primarily driven by rapid industrialization and extensive urbanization in key economies such as China and India. This dominance is underpinned by substantial investments in infrastructure development, including smart city projects and modern power transmission networks. Strategic government initiatives, such as the "Make in India" campaign, have accelerated domestic manufacturing and construction activities, creating a surge in demand for reliable wiring solutions. Additionally, the region's aggressive expansion of renewable energy projects and telecommunications infrastructure further cements its position as the central hub for market growth.

Recent Developments

In September 2024, NKT entered into a five-year framework agreement with Nexel to supply low- and medium-voltage power cables for grid upgrade projects. This collaboration ensures a steady supply of up to 4,000 kilometers of cables to support the modernization of the electricity distribution network on the island of Zealand. The majority of these cables will be manufactured at NKT’s expanded facility in Asnæs, Denmark. This agreement highlights the importance of reliable cable supply chains for infrastructure and industrial building applications, facilitating the efficient distribution of electricity required for the ongoing transition to renewable energy sources.
In July 2024, LS Cable & System, in cooperation with LS Electric, introduced a new superconducting solution specifically designed for Internet Data Centers (IDCs). This breakthrough product allows for large-scale power transmission at lower voltages without the need for constructing new substations, thereby optimizing space and reducing costs in urban infrastructure. The system, which eliminates electromagnetic wave generation, addresses critical power stability and economic efficiency challenges in the industrial building sector. This launch represents a significant technological advancement, positioning the company to meet the surging energy demands of data centers driven by the artificial intelligence era.
In May 2024, Southwire Company, LLC announced a strategic collaboration with Levidian, a British climate technology company, to integrate breakthrough decarbonization research into its manufacturing operations. This partnership focuses on deploying Levidian’s proprietary technology, which converts methane into hydrogen and high-quality graphene, at Southwire’s facilities. The initiative aims to significantly reduce carbon emissions associated with copper and aluminum cable production. By adopting this innovative process, Southwire strengthens its commitment to sustainability in the Global Industrial Building Wire and Cable Market, ensuring that its manufacturing practices align with evolving environmental standards and low-carbon economy goals.
In March 2024, Belden Inc. launched a new range of connectivity solutions tailored for mission-critical environments, including the Indoor/Outdoor Plenum Stadium Cables. These cables are designed to withstand harsh outdoor conditions, such as below-grade conduits and aerial installations, while possessing a CMP rating suitable for indoor air-handling spaces. This dual-purpose design eliminates the need for splice points when transitioning between environments, significantly simplifying installation in large industrial and commercial facilities like sports venues. The launch addresses the growing demand for versatile, high-performance cabling that ensures reliable data transmission and durability in complex building infrastructures.

Key Market Players

ABB Limited
Ormazabal Velatia
OREX
Olsun Electrics
Núcleo ATS
Northern Transformer
Noratel
Ningbo Wanji Electronics Science & Technology
ABC Transformers
Marsons

By Cable Type	By Material	By Region
Industrial Wire & Cable and Power Cable	Metallic Non-Metallic	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

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

Industrial Building Wire and Cable Market, By Cable Type:

Industrial Wire & Cable and Power Cable

Industrial Building Wire and Cable Market, By Material:

Metallic
Non-Metallic

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 Industrial Building Wire and Cable Market.

Available Customizations:

Global Industrial 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 Industrial 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 Industrial 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 Cable Type (Industrial Wire & Cable and Power Cable)

5.2.2. By Material (Metallic, Non-Metallic)

5.2.3. By Region

5.2.4. By Company (2025)

5.3. Market Map

6. North America Industrial 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 Cable Type

6.2.2. By Material

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Industrial 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 Cable Type

6.3.1.2.2. By Material

6.3.2. Canada Industrial 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 Cable Type

6.3.2.2.2. By Material

6.3.3. Mexico Industrial 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 Cable Type

6.3.3.2.2. By Material

7. Europe Industrial 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 Cable Type

7.2.2. By Material

7.2.3. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Industrial 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 Cable Type

7.3.1.2.2. By Material

7.3.2. France Industrial 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 Cable Type

7.3.2.2.2. By Material

7.3.3. United Kingdom Industrial 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 Cable Type

7.3.3.2.2. By Material

7.3.4. Italy Industrial 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 Cable Type

7.3.4.2.2. By Material

7.3.5. Spain Industrial 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 Cable Type

7.3.5.2.2. By Material

8. Asia Pacific Industrial 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 Cable Type

8.2.2. By Material

8.2.3. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Industrial 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 Cable Type

8.3.1.2.2. By Material

8.3.2. India Industrial 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 Cable Type

8.3.2.2.2. By Material

8.3.3. Japan Industrial 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 Cable Type

8.3.3.2.2. By Material

8.3.4. South Korea Industrial 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 Cable Type

8.3.4.2.2. By Material

8.3.5. Australia Industrial 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 Cable Type

8.3.5.2.2. By Material

9. Middle East & Africa Industrial 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 Cable Type

9.2.2. By Material

9.2.3. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Industrial 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 Cable Type

9.3.1.2.2. By Material

9.3.2. UAE Industrial 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 Cable Type

9.3.2.2.2. By Material

9.3.3. South Africa Industrial 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 Cable Type

9.3.3.2.2. By Material

10. South America Industrial 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 Cable Type

10.2.2. By Material

10.2.3. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Industrial 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 Cable Type

10.3.1.2.2. By Material

10.3.2. Colombia Industrial 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 Cable Type

10.3.2.2.2. By Material

10.3.3. Argentina Industrial 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 Cable Type

10.3.3.2.2. By Material

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 Industrial 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. ABB Limited

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. Ormazabal Velatia

15.3. OREX

15.4. Olsun Electrics

15.5. Núcleo ATS

15.6. Northern Transformer

15.7. Noratel

15.8. Ningbo Wanji Electronics Science & Technology

15.9. ABC Transformers

15.10. Marsons

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

What was the market size of the Global Industrial Building Wire and Cable Market in 2025?

Which is the dominating region in the Global Industrial Building Wire and Cable Market?

Which is the fastest growing segment in the Global Industrial Building Wire and Cable Market?

What is the expected growth rate of the Global Industrial Building Wire and Cable Market?