Wires and Cable Industry
FMEG :
The analysis of industry prospects highlights significant growth opportunities in the cables and wires market, driven by various factors:
1. Market Growth:
o The Indian wires and cables market is projected to grow at an 11-13% CAGR between FY24-29E, reaching ~INR 3,000 billion by FY29E.
o Export market share in the overall wires and cables market increased from 5% in FY19 to 10% in FY24 and is expected to grow at a 10-11% CAGR between FY24-29E.
2. Segment Contribution:
o Power transmission cables and building wires contribute ~50% of the market, supported by government initiatives like rural electrification and railway electrification.
o Increasing construction and infrastructure spending, along with the growth of the FMEG industry, drives demand for building wires.
3. Global Market Insights:
o The global cables and wires market size is expected to grow from ~$160 billion in 2024 to ~$220 billion by 2034, with India aiming to increase its share of global exports from ~1% to ~3% by 2034.
4. Key Growth Drivers:
o Higher investments in power transmission, renewable energy, and urban infrastructure.
o Expansion of renewable energy capacity, including battery energy storage systems and pumped hydro storage.
o Growth in data centers driven by 5G rollouts, IoT, and AI/ML adoption.
o Increased demand for EV charging infrastructure and specialty cables for renewable energy.
5. Government Initiatives:
o India plans to invest heavily in power infrastructure, including Rs. 9.15 lakh crore (US$109.50 billion) by 2032 to meet projected demand.
o National Electricity Plan targets include 500 GW of non-fossil fuel capacity by 2030 and significant transmission line expansions.
Major Players with Market Share :