India Wire And Cable Market Size (2024 - 2029)

India Wire And Cable Market Analysis

The India Wire And Cable Market size is estimated at USD 19.44 billion in 2024, and is expected to reach USD 30.11 billion by 2029, growing at a CAGR of 9.14% during the forecast period (2024-2029).

• The Indian wire and cable market is experiencing significant growth, driven by multiple factors, including growing renewable energy production, increasing reserves in smart grid technology, industrialization, and government initiatives. This sector, vital for electricity distribution and telecommunications, is expanding at an impressive rate and is expected to continue this trajectory in the coming years.
• India is undergoing a massive infrastructure transformation. The Indian government continuously takes various initiatives to provide affordable housing and improved urban infrastructure. For instance, in January 2024, the finance minister of India announced that the government plans to raise the allocation for low-cost housing by more than 15% to USD 12 billion for 2024/25. Such initiatives have led to a substantial increase in the country's demand for wires and cables.
• Further, one of the key drivers that drives the demand for the Indian wire and cable market is the Increasing demand from the renewable power generation sector. Many states in the country are continuously demanding renewable power generation. Hence, the Government of India has started increasing its investments to establish renewable energy sources.
• For instance, the Ministry of New and Renewable Energy has allocated USD 1.68 billion for the Production Linked Incentive Scheme, specifically targeting high-efficiency solar PV modules. By October 2024, an operational manufacturing capacity of 7,400 MW is anticipated, with a further surge to 16,800 MW by April 2025. The remaining 15,400 MW capacity will be completed by April 2026. This integration of renewable energy sources into the existing power grid requires advanced cables that can handle varying loads and ensure efficient power transmission, increasing the adoption of wires and cables.
• Moreover, the telecommunications sector is expanding rapidly in India, driven by increasing smartphone penetration and the rollout of 5G networks. For instance, Bharti Airtel announced that the company has doubled its Airtel 5G Plus and is planning to roll out its 5G services in 20,000 villages across India. It is expected to grow in the coming years.
• The need for high-speed internet and improved connectivity has led to a surge in demand for fiber optic cables and other communication cables. The deployment of 5G technology, in particular, requires significant investments in infrastructure, including a vast network of cables to support the high-speed data transfer and low latency that 5G promises.

India Wire And Cable Industry Segmentation

The Indian wire and cable market study tracks the revenue gathered through sales of wire and cable installations deployed in India's essential end-user facilities, such as telecommunications, construction, and power infrastructure. A cable consists of more insulated wires wrapped in a single jacket that permits them to pass through, whereas a wire is a single conductor.

The Indian wire and cable market is segmented by cable type (power cable (low voltage (LV), medium voltage (MV), high voltage (HV) and ultra-high voltage), housing wires (90 m housing wire and other types of housing wires), communication cables, instrumentation and control cable, and flexible and specialty cables for industrial applications), end-user type (consumers (B2C) and businesses (B2B) (construction, IT and telecommunication, energy and power, oil and gas, and other end-user verticals)), and India housing wire (Maharashtra, Kerala, Gujarat, Tamil Nadu, Uttar Pradesh, Rajasthan, Punjab, Delhi NCR, Madhya Pradesh, Haryana, and the Rest of India).

The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.