The North American cable market will grow at a rate of 6% from 2021 to 2027

The North American wire and cable industry will grow at a compound annual growth rate of around 6% between 2021-2027, driven by the expansion and renovation of building infrastructure and the development of smart grid networks, according to a new research report by Delaware-based consulting firm Global Market Insights. By further analysis, lots of vital informations could be seen. There will be enormous increases on aluminum building wire and electrical power cable. In particular cable thhn 10 awg and 2.5mm power cable will have a rapid increases on purchase.

By 2027, the North American wire and cable market will be worth more than $44 billion. Increased investment in infrastructure and the establishment of new smart grids to meet the growing demand for electricity will drive demand growth in this market. For the power cable or building wire manufacturer or supplier, this is a very exciting news, in particular for China manufacturer or supplier, because in China there are 1,000 cable and wire manufacturers, although the nervous relationship between China and American will continue, the economic trade will not influenced .

As demand for consumer electronics grows, the rapid expansion of the e-commerce industry will further accelerate product adoption. In addition, the widespread use of electric wires and cables in renewable energy and strict government regulations to limit greenhouse gas emissions will boost business prospects. For the solar cable maufacuturer, there will be lots of business chance in the future and solar wire has been a very hot sale product recently and the North American will push the market boom on solar cable in the following 6 years.

Wires and cables are designed to carry energy and data across a variety of application industries, which in turn will drive their deployment across the telecom industry.  Tech giants such as Google, Microsoft and AWS are ramp-up their efforts to develop super-sized data centers, which is bound to increase demand for products.  The growing demand for affordable and efficient power sources, coupled with the increasing integration of distributed generation sets, will energize the industry.  In terms of the application market, the North American automotive segment saw modest growth in the wire and cable market as consumers switched to electric or hybrid vehicles.  The rapid adoption of these vehicles over conventional fuel vehicles is expected to increase the demand for low and medium voltage wire and cable. In addition, government moves to reduce reliance on conventional fuels will boost the market.  

Business growth in the region declined during the COVID-19 pandemic due to the closure of publicly funded construction projects and end-user demand for products.  Supply chain disruptions have stifled industry growth and caused small and medium-sized enterprises to fail.  However, as the vaccine spread, governments lifted lockdown measures to boost their economies. Especially for the North American, the pandemic hurt the economic so heavily and now it's time to recover largely and Mr. Biden has pushed the Congress to agree with the bill of $20 billions some months ago and those money will be used to invest on building and other basic device construction. In those infrastruction plan, the need on aluminum building wire and electrical power cable will has a rapid increases. 

The major wire and cable markets in North America, including Mexico and the United States, are expected to grow at a cagR of about 9 percent through 2027 due to increased private investment and comprehensive plans to develop infrastructure for smart grid technology. Technological advances in consumer electronics, automotive and communication systems will significantly affect the expansion of regional markets.

China manufacturers will play a vital role in such excited market boom vision. In particular for the aluminum building wire and electrical power cable. Benefit from the excellent supply chain built in past 17 years, the China manufacuturer has been more and more important for the whole wire and cable industry in the world. Cable thhn 12 awg and 2.5 mm power cable belong to common used cable sizes in the North American and there will be largely increase on export in the future.

Aluminum building wire and electrical power cable 

Compared to the copper building wire, aluminum building wire lots of advantages, such as the aluminum building wire has less weight which helps the worker to install, what's more the aluminum is cheaper than copper, the copper has been more and more expensive recently and that add so much press on the whole building cable and other copper cable market, in that time, the aluminum will be a another choice. Thhn wire has been the rising star in the building cable recently and benefit from the nylon jacket, compared to other building cable, thhn wire has lots of particular advantages, the cable thhn 10 awg has been the most common used thhn wire in the North American. On the other hand, the electrical power cable include 2.5 mm power cable is another common used cable in North American.

JZD Wire&Cable provides aluminum building wire and electrical power cable since 2012 year and exported to 10 countries, such as the Philippines, Australia, Canada and other Latin American countries. Welcome to contact us for more information.

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