The North America wire and cable market is speculated to witness significant growth through 2027 owing to prevalent product demand across varied industry verticals in the region.

Recently, industry players have been implementing lucrative strategies to enhance their market standing, which has been favorable for overall business growth. For instance, in October 2021, the Prysmian Group, a leading firm specializing in the energy and telecom cable systems, announced its plans to invest an additional USD 100 million over the coming two and half years to upgrade its facilities in North America to support its growth in the power distribution and transmission sectors. Additionally, the investment was purposed to meet the need for infrastructural upgrades and accommodate the surging demand for clean energy sources in the region.

The North America wire and cable market has been categorized in terms of product, voltage, application, and country. On the basis of product, the market has been segregated into fiber optics cable, coaxial cable/electronic wire, signal & control cable, power cable, and telecom & data cable.

The coaxial cable/electronic wire sub-segment held a sizable revenue share in the market in 2020 and is projected to register strong growth by the end of 2027. Increasing investments towards establishing manufacturing facilities and expanding building infrastructure are set to propel segmental growth in the coming years.

In 2020, the signal & control cable sub-segment amassed a significant valuation and is anticipated to progress at a notable pace over 2021-2027. Strong inclination towards the enhancement of prevailing grid networks is foreseen to augment segmental expansion through the assessment timeframe.

With respect to application, the North America wire and cable market has been bifurcated into automotive, food & beverages, utilities, material handling/logistics, railways, entertainment/leisure, building infrastructure, and consumer electronics. The material handling/logistics sub-segment is estimated to observe prominent growth by 2027, expanding at a steady CAGR over the review period. Growing integration of renewable energy sources is calculated to fuel segmental adoption in the forthcoming years.

The entertainment/leisure sub-segment garnered a considerable share in the market in terms of revenue in 2020 and is expected to grow at a substantial pace over 2021-2027. Large scale integration of decentralized generation units is likely to impel segmental demand in the forthcoming years.

Based on country, the U.S. wire and cable market is speculated to progress at a sturdy pace to attain a significant share in the overall industry revenue by the end of the forecast period. Mounting adoption of the Internet of Things (IoT) and smart & advanced technologies in the country is foreseen to foster market outlook in the future.