Report : Asia-Pacific Wire and Cable Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Cable, Wire, and Push-Pull Controls) and End Use Industry (Aircraft, Transportation, Medical, Marine, and Construction)   

At 8.1% CAGR, the APAC Wire and Cable Market is speculated to be worth US$ 1,07,264.28 million by 2028, says Business Market Insights              

According to Business Market Insights’ research, the APAC wire and cable market was valued at US$ 67,344.71 million in 2022 and is expected to reach US$ 1,07,264.28 million by 2028, registering an annual growth rate of 8.1% from 2022 to 2028.  Rising adoption of wire and cable in medical industry and growth in industry 4.0 technologies are the critical factors attributed to the market expansion.                

Medical wire and cable are a class of medical devices that are mostly utilized as a component of various medical equipment, such as catheters used to treat cerebral vascular disorders, intracardiac mapping catheters, ablation catheters, and endoscopic therapeutic devices. Moreover, medical sensors and probes are employed with the medical wires. Medical cables and wires can tolerate the sterilizing process. Miniaturization of components and systems has been continuously demanded in the medical field. It has been required to design procedures and tools that are not currently on the market, especially for chemically resistant materials. For instance, LOROM, an international company, has made considerable historical investments in R&D to provide unmatched medical cables that are in a regulated environment. Every component of medical devices and interconnects can now be processed and manufactured by the company. The Lorom chemical labs are fully furnished with rheometers, X-ray machines, gas chromatographs, spectrometers, etc. Furthermore, with its quick response times and creative design, Northwire's new medical cable BioCompatic helps customers save time and money. When paired with REDEL connections from The LEMO Group, the cable assembly offers strong resistance to environmental conditions and sterilizing techniques. High-quality push-pull connections made by LEMO are an essential component of machinery used in demanding applications, harsh conditions, and technical extremes. BioCompatic ensures valued customers' competitive advantage in the global economy by providing a speedy, dependable, and economical road to market. Thus, the rising adoption of wire and cable in the medical industry is expected to boost the demand for wire and cable.

On the contrary, volatility in raw material prices hurdles the growth of APAC wire and cable market.    

Based on type, the APAC wire and cable market is segmented into cable, wire, and push-pull controls. The wire segment held 50.3%market share in 2022, amassing US$ 33,898.84 million. It is projected to garner US$ 51,109.05 million by 2028 to expand at 5.3% CAGR during 2022–2028.  

Based on end use industry, the APAC wire and cable market is segmented into aircraft, transportation, medical, marine, and construction. The transportation segment held 46.0% market share in 2022, amassing US$ 31,009.22 million. It is projected to garner US$ 51,712.11 million by 2028 to expand at 8.9% CAGR during 2022–2028.

Based on country, the APAC wire and cable market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. Our regional analysis states that China captured 40.9% market share in 2022. It was assessed at US$ 27,531.58 million in 2022 and is likely to hit US$ 45,051.00 million by 2028, exhibiting a CAGR of 8.6% during the forecast period.    


Key players dominating the APAC wire and cable market are ASK Automotive Pvt. Ltd.; Carl Stahl Sava Industries; Guangdong Jinlianyu Cable industrial Co., Ltd; Henan Sanheng Industrial Co., Ltd; and RR Kabel among others.  

  • In 2021, RR Kabel is investing Rs 1000 crore in next three years in order to diversify and extend its product portfolio. RR Kabel has set a target to rise its turnover from Rs 7500 crores to 20,000 crores in coming five years.
  • In 2020, RR Kable has completed the acquisition of Home Electrical Business of Luminous (Schneider Electric). This acquisition will strengthen RR Kable's portfolio in consumer electricals business.

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