India Insulated Wire and Cable Market By Type (XLPE, HDPE, HMWPE, PVC), By Rating (Low Voltage, Medium Voltage, High Voltage, Ultra High Voltage), By Product Installation (Overhead, Underground), By End User (Telecommunication, Energy & Power, Electronics, Construction, Automotive, Others), By Region, Competition Forecast & Opportunities, 2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Insulated Wire and Cable Market By Type (XLPE, HDPE, HMWPE, PVC), By Rating (Low Voltage, Medium Voltage, High Voltage, Ultra High Voltage), By Product Installation (Overhead, Underground), By End User (Telecommunication, Energy & Power, Electronics, Construction, Automotive, Others), By Region, Competition Forecast & Opportunities, 2028F
| Forecast Period | 2023-2028 |
| Market Size (2022) | USD 12.51 Billion |
| CAGR (2023-2028) | 5.05% |
| Market Size (2028) | USD 16.96 Billion |
| Fastest Growing Segment | PVC |
| Largest Market | South India |
India Insulated Wire and Cable Market is anticipated to grow at a high CAGR in the forecast period 2024-2028 due to the increased investments in smart grid projects and upgradation of power transmission and distribution systems, rising investments in underground cables and government’s emphasis on pushing renewable energy.
A non-conductive material that is resistive to an electric current makes up an insulated wire or cable. It encloses and safeguards the cable or wire inside. The safety of an insulated wire is typically required at high operating temperatures for equipment like fire alarms, heating devices, automobiles, and other items. The insulation of the wire affects both its efficiency and safety. This type of insulated wire is typically joined by a conductor that has been covered with a heat-resistant organic resin, such fluoro-resin, etc.
Wide Expansion of Power Transmission and Distribution Infrastructure
The transmission and distribution infrastructure continues to remain in focus, especially, with the outlay of INR 2.6 lakh crore announced by the Government for the five-year period ending 2021. There is a sharper focus on high voltage transmission lines along with the Government’s aims to provide 24*7 power, which is opening opportunities in the India Insulated Wire and Cable Market. DISCOMS which have joined the UDAY scheme are expected to improve their T&D infrastructure through renewed investments. The government’s target of generation of 100 GW of solar energy by 2022 and measures such as excise duty exemption for ferro-silicon magnesium used for manufacturing components for wind-operated electric power generators have augmented the demand for insulated wires and cables.
Rising Demand for Renewable Energy
Reduce its dependence on fossil fuels, the Indian government is researching green energy technology. The number of wind farms and solar farms being built is growing, which raises the need for insulated lines and cables. Furthermore, it is anticipated that the deployment of subterranean cables and wires for power distribution will speed up market growth due to the emergence of offshore renewable technologies, such as offshore wind farms. The increased need for renewable energy will cause the insulated wires and cables market to grow faster in India.
Surge in Number of Data Centres
Data centres are essential for IT services, communication, and networking. Data centres heavily rely upon data storage and routing traffic through them. Due to the growth of big data, data centres are now in great demand, and the emergence of Big Data is contributing to the exponential growth of qualitative and reliable data centres that would cost billions of dollars. The growing count of data centres for increased availability, security, and affordable connectivity of IT infrastructure would surge the requirement of insulated wires and cables across the country.
Infrastructural Development
A growing population along with the surging demand for electricity is driving the growth of the India insulated wire and cable market. With growing urbanisation and escalating investments in infrastructure and construction projects, there is development in financing and impact of technology. The need for resilience and sustainability, is likely to boost the market growth of insulated wire and cable across the country over the forecast period. Moreover, technological advancements along with the growing trend for intensified networking and miniaturisation are likely to influence the market across the country as digitalisation shifts the connection technology environment. Moreover, the trend for system solutions and the production is becoming modular and flexible which is further boosting the market growth of insulated wire and cable across the country.
Recent Developments in India insulated wire and cable market
In 2021, Kemtree Enterprises Pvt. Ltd., an Indian manufacturer of lubricants, has established a partnership with Electric Cable Compounds Inc. (ECC). Kemtree intends to provide premium cable compounds for Indian wire and cable makers following this deal with ECC Inc.
Market Segments
Market Players
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | By Type By Rating By Product Installation By End User By Region |
| Regional scope | North, East, West, South |
| Key companies profiled | Polycab Wires Pvt. Ltd., Havells India Ltd., Finolex Cables Limited, KEI Industries Ltd., RR Kabel Limited, Universal Cables Ltd., Uniflex Cables Limited, V-Guard Industries Ltd., Gupta Power Infrastructure Ltd., KEC International Limited |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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