Copper Cable Market Research Report—Global Forecast till 2027

Copper Cable Market Reseach Report Information By Type (CAT3, CAT5, CAT5E, CAT6, CAT6A, CAT7, CAT8) Application (Industrial, Broadcast, Enterprise, Digital Communications, Others) Forecast 2027

ID: MRFR/CnM/9342-CR | May 2022 | Region: Global | 100 Pages         

Copper Cable Market

The Copper Cable market size is projected to be worth USD 212,896.55 million by 2027, registering a CAGR of 3.66% during the forecast period (2020–2027). The market was valued at USD 151,985.95 million in 2020.

Segmentation
By Type CAT3 CAT5 CAT5E CAT6 CAT6A CAT7 CAT8
By Application Industrial Broadcast Enterprise Digital Communications Others
Key Players
Companies Profiled   Elcowire Group AB (Sweden)   KGHM (Poland)   Luvata (Finland)   Aviva Metals (France)   Sandvik AB (Sweden)   Hitachi Metals Ltd (Japan)   Sumitomo Heavy Industries Ltd (Japan)   Furukawa co. ltd (Japan)   Tatung Co (China)   TRA.SMA S.p.A. (China)   ABB (Switzerland)   Knight Precision Wire (UK)    People’s Cable Group (China)
Drivers
Market Driving Forces   Widespread Use in the Power Sector   Recycling of Copper
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Copper Cable Market Overview


The Copper Cable market size is projected to be worth USD 212,896.55 million by 2027, registering a CAGR of 3.66% during the forecast period (2020–2027). The market was valued at USD 151,985.95 million in 2020.


A copper cable is a bundle of two or more copper wires in a single sheath or jacket. Copper wire and cable are utilized in a wide range of applications, including power production, transmission, distribution, telecommunications, electronics circuits, and electrical equipment.


Copper cables come in various shapes and sizes, including shielded and unshielded twisted pair cables and coaxial cables, with different constructions depending on the use. In local area networks (LANs), unshielded or UTP cables are commonly used. Despite the growing need for fiber optics, copper cables continue to be utilized in various sectors due to their affordability. 


COVID-19 Impact on the Copper Cable Market:


IMPACT ON CABLE INDUSTRY The flow of raw materials and completed items slowed or stopped entirely owing to social distance restrictions, lockdown/stay-athome orders, occupancy limits, and sick time due to COVID-19 exposure or positive test findings. The production floor and manufacturing procedures were disrupted and limited. As a result, the capacity to manufacture products and services at stable pricing was harmed. The electricity industry is a major user of wires and cables, contributing significantly to the market's growth. This is on account of the launch of new power projects by governments in many locations to address the electricity demand. According to the World Nuclear Association, annual power consumption in the US is expected to rise to 5000 TWh in 2030. An 80% rise in PC uploads to cloud computing platforms, along with extra peaks from video conference calls, has put Wi-Fi bandwidth under strain, necessitating the assignment of more spectrum for unlicensed use. COVID-19's quick expansion across the globe in 2020 had a significant influence on industrial operations in important industries such as IT and telecom, electrical equipment, and construction. This, along with economic instability in several states, caused production and supply interruptions in the wire and cable business. Purchases of insulated wire and cable in the US from other countries fell by - 28.1%, marking the second consecutive year of decline following three years of increase. Imports of wire and cable fell to USD 18.4 billion in 2020.


Market Dynamics


Drivers

  • WIDESPREAD USE IN THE POWER SECTOR


Copper is widely used as a conductor in electric wiring. These wirings are widely used in power production, transmission, and distribution, as well as electronic circuits, telecommunications, and a variety of other electrical applications. Copper wires are frequently used for wiring because they have the best electrical conductivity of any commercial metal, except silver, strength, formability, simplicity of connecting, high thermal conductivity, and corrosion resistance.


Restraints

  • FLUCTUATING COST OF COPPER AND STRICT MINING REGULATIONS


Copper's price is heavily impacted by the state of the global economy. This is due to its ubiquitous use in various industries, including power generation and transmission, construction, manufacturing equipment, and electronics. The base metal, sometimes known as Doctor Copper, is regarded as a trustworthy leading indicator. A rising market price indicates good economic health, whereas a falling market price indicates the reverse. In March 2020, three-month copper futures on the London Metal Exchange traded at USD 4,731 a metric tonne. This was a huge decrease from the start of the year when it was USD 6,340. Macroeconomic issues and fears about the coronavirus epidemic were blamed for the sharp decline. Copper's price has rebounded to more than USD 5,200 per metric tonne by May 2020


Opportunity

  • RECYCLING OF COPPER


Copper is one of the most widely recycled metals, accounting for around one-third of all copper consumed globally. Recycling copper and its alloys may be remelted and utilized directly or further reprocessed to refined copper without losing any of the metal's chemical or physical qualities.


Challenges

  • ENVIRONMENTAL CONCERNS RELATED TO COPPER MINING AND PROCESSING


Copper processing plants are typically found alongside mining or extraction operations. Copper manufacturing generates a significant amount of trash. Uranium, which is sometimes found in the same place as copper ore, can be recovered as a by-product if it is costeffective.


Segmentation


By Type



  • CAT3

  • CAT5

  • CAT5E

  • CAT6

  • CAT6A

  • CAT7

  • CAT8


By Application



  • Industrial

  • Broadcast

  • Enterprise

  • Digital Communications

  • Others


By Region



  • North America

  • Europe

  • Asia-Pacific

  • South America

  • Middle East

  • Africa


Regional Analysis


Asia-Pacific accounted for the largest market share and is projected to witness the fastest growth in the market. The high growth of the regional market is attributed to the increasing production and sale of automobiles, especially in China, Japan, India, and South Korea. The growth of the aviation industry in the region is also contributing to the regional market growth. Europe accounted for the second-largest share in the global market owing to the the high production and sale of automobiles in European countries, such as Germany, Russia, and France.  Europe is followed by North America. North America recorded stagnant growth in the global market owing to large scale automotive and aerospace industry. On the other hand, the Middle East & Africa is expected to witness below average growth owing to the presence of large-scale petroleum industries. The Latin American market is likely to create notable opportunities due to the rise in industrialization and increasing government investments in major countries.


Competitive Landscape


The global copper cable market is characterized by the presence of global, regional, and local players. The market is fragmented, with all the players competing to gain larger market shares. The key manufacturers operating in the global copper cable market compete based on cost, brand identity, product quality, availability of raw materials, and reliability of the product. The key players are engaged in the manufacturing of copper cable are increasingly investing in R&D and expansion of its regional presence to gain an advantage over competitors. Furthermore, with the growing application in industrial, broadcast, enterprises, digital communications, and other applications in the emerging markets, the players are emphasizing business expansion in countries, including China, Malaysia, and South Korea. Elcowire Group AB (Sweden), KGHM (Poland), Luvata (Finland), Ningbo Jintian Copper Group Co Ltd (China), Aviva Metals (France), Mitsubishi Chemical Corporation (Japan), Sandvik AB (Sweden), Hitachi Metals Ltd (Japan), Sumitomo Heavy Industries Ltd (Japan), Furukawa co. ltd (Japan), Tatung Co (China), TRA.SMA S.p.A. (China), ABB (Switzerland), Knight Precision Wire (UK), People’s Cable Group (China) are the key players operating in the global Copper cable market.


Some of the key developments include:



  • Elcowire acquires KME’s Rod and Wire assets and other business located in Germany along with its 180 employees, which results in doubling the capacity to 300’000MT for Copper Rod. Also, it is expected to increase the market share of copper rods with a wide range of capabilities for wire and strands solutions.

  • Mitsubishi Heavy Industries, partnering with Primetals Technologies, had signed an agreement with Southwire, LLC to supply copper rod mill for Carrollton operations. In this contract, Primetals Technologies will manufacture and commision the rolling mill as part of the patented Southwire Continuous Rod (SCR) technology, which will produce electrolytic tough pitch (ETP) copper rods for electrical wire and cable applications.

  • Sumitomo Electric Industries announced that it would deliver power/communication cables for the Thai commuter railway red line construction project. In this project, Sumitomo Electric will supply a wide range of products, including contact wires, stranded hard-drawn copper wires, and power cables.

  • Luvata had announced the expansion of its existing mill located in the Kimberly Industrial complex. This new manufacturing space will include the production of copper-alloy wire and rod for a total investment of approximately USD 37 million.


Report Overview:


The Copper Cable market is segmented by type, application, and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global Copper Cable emerging and fast-growing segments, regions, and countries.


Objectives of the Study



  • To get a comprehensive overview of the global Copper Cable market

  • To get wide-ranging information about the key factors driving the market and market opportunities

  • To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments

  • To gain insights about the key country/region in which the market is growing


Intended Audience



  • Industrial sector

  • Broadcast sector

  • Enterprise sector

  • digital communication



Report Scope:

Report Attribute/Metric Details
  Market Size   2027: 212,896.55 million
  CAGR   4.42% CAGR (2019-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered    Type, Fuel Type, and Application
  Geographies Covered   North America ,Europe, Asia-Pacific,South America, Middle East ,Africa
  Key Vendors   Elcowire Group AB , KGHM , Hitachi Metals Ltd , People’s Cable Group ,ABB , Tatung Co.
  Key Market Opportunities   Recycling of Copper
  Key Market Drivers   Widespread Use in the Power Sector • Surging Internet Penetration


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Frequently Asked Questions (FAQ) :

The global Copper Cable market would register a growth of 4.42%.

The Copper Cable market is projected to be worth USD 212,896.55 million by 2027

Fluctuating cost of copper and strict mining regulations

Elcowire Group AB (Sweden), KGHM (Poland), Luvata (Finland), Ningbo Jintian Copper Group Co Ltd (China), Aviva Metals (France), Mitsubishi Chemical Corporation (Japan), Sandvik AB (Sweden), Hitachi Metals Ltd (Japan)