India Wire And Cable Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 19.44 Billion |
| Market Size (2029) | USD 30.11 Billion |
| CAGR (2024 - 2029) | 9.14 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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 Market Trends
Growing Demand for Housing Wire in India
- India's housing sector is witnessing a significant increase, propelled by swift urbanization, government policies, and an expanding middle class. With this growth, the demand for housing wire is continuously growing, as it is one of the most important elements in residential electrical setups. This demand directly results from several interlinked factors highlighting the dynamic changes occurring in India's housing and construction industries.
- India is also experiencing a significant trend toward urbanization. The Union Ministry of Housing and Urban Affairs forecasts that India's urban population will surge to 600 million by 2031. This demographic surge is fueling a heightened demand for new housing units, amplifying the need for housing wire. Specifically, 90 m housing wire, known for its adaptability and efficiency in residential setups, has become a staple in the electrical wiring of these new urban dwellings.
- Further, according to the World Bank, India's rising middle class, estimated to grow to 580 million by 2025, significantly contributes to the demand for housing. Higher disposable incomes are leading to an increased demand for quality housing. As per the report by CBRE Group, in 2023, the sales of mid-end houses were the highest at 46%, followed by high-end houses and affordable houses at 27% and 16%, respectively. Such growing real estate sales drive the market for high-quality electrical components.
- Further, companies such as Havels, Polycab, and Anchor are continuously working toward advancements in their electrical wiring segment to provide efficiency and safety of the housing wire. Also, fire-resistant and low-smoke wire innovations are increasingly adopted in Indian houses. Additionally, the development of smart homes, which require robust and reliable wiring systems, further bolsters the demand for high-quality housing wires.
- Also, infrastructure development in Tier-II and Tier-III cities is increasing demand. As these cities grow and upgrade, the need for new residential complexes is surging. This, in turn, is fueling a demand for extensive electrical wiring.
Increasing Use of Wire and Cables in the IT and Telecommunication Segment in India
- India's IT and telecom segment has witnessed a surge in the demand for wires and cables, mainly driven by various factors, including expanding broadband services, the proliferation of smart devices, the implementation of 5G technology, and government initiatives like Digital India. These elements have created a growing demand for wires and cables.
- Further, India has seen an increase in broadband penetration over the last decade. According to the Telecom Regulatory Authority of India (TRAI), the country’s broadband subscriber base has grown extensively. For instance, the telecom subscriber rate reached 102.4 million in Uttar Pradesh, followed by Maharastra, Bihar, and Andhra Pradesh with 94.94 million, 94.90 million, and 86.46 million in 2023. This surge is largely due to the rising demand for high-speed internet connections. As the subscriber bases increase, many telecom companies in India have rolled out fiber optic cables.
- For instance, in January 2024, BSNL announced its plan to upgrade its copper network to optical fiber in Ernakulam in the last quarter of 2024 to provide high-speed internet. As a part of this initiative, the company aims to upgrade 1.2 lakh copper connections to fiber cables in Tamil Nadu. Such initiatives by the telecom companies have boosted the demand for cables, driving the growth of cable in the telecom industry.
- Moreover, the proliferation of data centers in India has been a major catalyst in driving the demand for wires and cables. Many IT and telecom companies operating in India are opening new data centers. For instance, in January 2024, a joint venture of Digital Realty Trust, Reliance Industries, and Brookfield Infrastructure Partners announced the launch of a 20 MW greenfield data center, MAA10, in Chennai. Such data centers require many cables, including high-speed fiber optic cables, to ensure efficient and uninterrupted data transmission.
India Wire And Cable Industry Overview
The Indian wire and cable market is highly competitive and has several major players. However, many companies are increasing their market presence by securing new contracts and acquiring other companies. Key players include Finolex Cables Limited, KEI Industries Limited, Syska Led Lights Pvt Ltd, V-Guard Industries Ltd, and Havells India Ltd.
April 2024 - V-Guard unveiled its latest innovation: the 'Arizo' Wires, designed to resist melting and promote eco-safety. By harnessing advanced e-beam technology, these wires eliminate halogens and significantly reduce smoke emissions, improving electrical safety and sustainability. V-Guard's primary goal with this launch is to mitigate the risks of short circuits and fire hazards, ensuring consumers' safety.
March 2024 - Polycab India Limited, a leading electrical solutions provider, unveiled its latest TVC showcasing the Extra Safe Polycab Mmaxima+. The highlight of this release is the launch of the Polycab Mmaxima+ Green wire. Through this initiative, the company aims to provide innovation and customer safety, empowering homeowners to prioritize informed decisions for their household's well-being.
India Wire And Cable Market Leaders
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Finolex Cables Limited
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Syska Led Lights Pvt Ltd
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V-Guard Industries Ltd.
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Havells India Ltd.
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Polycab India Limited
*Disclaimer: Major Players sorted in no particular order
India Wire And Cable Market News
- May 2024: LAPP India, a company that provides cable and connectivity solutions, unveiled its latest offerings at ELASIA 2024. This launch spotlights its renowned brand offerings, which include OLFLEX power and control cables, UNITRONIC data and communication cables, and ETHERLINE industrial ethernet cables. Additionally, LAPP will exhibit a range of complementary accessories, including glands, conduits, and connectors.
- April 2024: Finolex Cables unveiled a new line of eco-friendly wires branded as FinoGreen. This range features halogen-free and flame-retardant industrial cables specifically engineered to enhance safety in electrical installations and prevent accidents, notably fires. The newly introduced wires not only cut down on smoke emissions but also minimized the release of hydrochloric acid gas in fire scenarios.
India Wire And Cable Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
- 2.1 Research Framework
- 2.2 Secondary Research
- 2.3 Primary Research Approach and Key Respondents
- 2.4 Data Triangulation and Insight Generation
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 An Assessment of the Impact of Key Macroeconomic Trends
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Rising Demand from the Construction and Housing Sector
- 5.1.2 Increasing Demand from Renewable Power Generation Sector
- 5.1.3 Growing Adoption in the Telecommunications Industry
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5.2 Market Challenges
- 5.2.1 High Cost of Installation and Associated Complexities
- 5.2.2 Increased & Fluctuating Raw Material Prices
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5.3 Government Initiatives and Guidelines
- 5.3.1 Covers Overview of the Development Related to Housing, Infrastructure, Power and Distribution, Smart Cities Mission, etc.
- 5.3.2 Overview of National Infrastructure Pipeline (NIP) - Projects and Investments in Various Industries (Such as Transport, Energy, Communication, Logistics, etc.)
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5.4 Overview of Export-import Scenarios in the Industry
- 5.4.1 Covering Import and Export Trends (HS Code: 8544) During 2020-2022
- 5.4.2 Export and Import Share by Major Countries, including the US, Australia, China, UAE, etc.
- 5.4.3 Export Revenue of Leading 5n Vendors (2020-2023)
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5.5 Overview of Pricing Models and Pricings of Housing Wires in Major Cities in India
- 5.5.1 Covering cities like Mumbai, Pune, Bengaluru, Hyderabad, Indore, etc.
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5.6 Overview of Factors Influencing the Pricing Trends of Wire & Cable Industry
- 5.6.1 Raw Material (including Metal) Price Fluctuations
- 5.6.2 Supply Chain Disruptions
- 5.6.3 Government Regulations
- 5.6.4 Demand Fluctuations in Various Industries
- 5.6.5 Market Vendor Competition
- 5.6.6 Others
6. MARKET SEGMENTATION
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6.1 By Cable Type
- 6.1.1 Power Cable (by subtypes)
- 6.1.1.1 Low Voltage (LV)
- 6.1.1.2 Medium Voltage (MV)
- 6.1.1.3 High Voltage (HV) and Ultra High Voltage
- 6.1.2 Housing Wires
- 6.1.2.1 90m Housing Wire
- 6.1.2.2 Other Types of Housing Wires (including 180 m and 200 m)
- 6.1.3 Communication Cables (includes Coaxial, Fiber Optic, Data and Ethernet, and Twisted Wire Pairs)
- 6.1.3.1 Instrumentation and Control Cable
- 6.1.3.2 Flexible and Specialty Cables for Industrial Applications
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6.2 By End-user Type
- 6.2.1 Consumers (B2C)
- 6.2.2 Businesses (B2B)
- 6.2.2.1 Construction (Residential and Commercial)
- 6.2.2.2 IT and Telecommunication
- 6.2.2.3 Energy and Power
- 6.2.2.4 Oil and Gas
- 6.2.2.5 Other End-user Verticals (Aerospace & Defense, etc.)
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6.3 India Housing Wire Market By State***
- 6.3.1 Maharashtra
- 6.3.2 Kerala
- 6.3.3 Gujarat
- 6.3.4 Tamil Nadu
- 6.3.5 Uttar Pradesh
- 6.3.6 Rajasthan
- 6.3.7 Punjab
- 6.3.8 Delhi NCR
- 6.3.9 Madhya Pradesh
- 6.3.10 Haryana
7. COMPETITIVE LANDSCAPE
- 7.1 Overview of Market Entry and Expansion Strategies Adopted by Major Market Vendors
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7.2 Market Share Analysis of Leading Vendors, 2023
- 7.2.1 Includes Market Vendors such as KEI, Havells, Finolex, etc.
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7.3 Company Profiles*
- 7.3.1 Finolex Cables Limited
- 7.3.2 KEI Industries Limited
- 7.3.3 Syska Led Lights Pvt. Ltd
- 7.3.4 V-Guard Industries Ltd
- 7.3.5 Havells India Ltd
- 7.3.6 Polycab India Limited
- 7.3.7 R R Kabel Ltd
- 7.3.8 Panasonic
- 7.3.9 Plaza Wires & Cables
8. LIST OF CABLE PRODUCERS AND DISTRIBUTORS
9. INVESTMENT ANALYSIS
10. FUTURE OUTLOOK OF THE MARKET
** Subject To AvailablityIndia 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.
| By Cable Type | Power Cable (by subtypes) | Low Voltage (LV) |
| Medium Voltage (MV) | ||
| High Voltage (HV) and Ultra High Voltage | ||
| By Cable Type | Housing Wires | 90m Housing Wire |
| Other Types of Housing Wires (including 180 m and 200 m) | ||
| By Cable Type | Communication Cables (includes Coaxial, Fiber Optic, Data and Ethernet, and Twisted Wire Pairs) | Instrumentation and Control Cable |
| Flexible and Specialty Cables for Industrial Applications | ||
| By End-user Type | Consumers (B2C) | |
| Businesses (B2B) | Construction (Residential and Commercial) | |
| IT and Telecommunication | ||
| Energy and Power | ||
| Oil and Gas | ||
| Other End-user Verticals (Aerospace & Defense, etc.) | ||
| India Housing Wire Market By State*** | Maharashtra | |
| Kerala | ||
| Gujarat | ||
| Tamil Nadu | ||
| Uttar Pradesh | ||
| Rajasthan | ||
| Punjab | ||
| Delhi NCR | ||
| Madhya Pradesh | ||
| Haryana |
India Wire And Cable Market Research FAQs
How big is the India Wire And Cable Market?
The India Wire And Cable Market size is expected to reach USD 19.44 billion in 2024 and grow at a CAGR of 9.14% to reach USD 30.11 billion by 2029.
What is the current India Wire And Cable Market size?
In 2024, the India Wire And Cable Market size is expected to reach USD 19.44 billion.
Who are the key players in India Wire And Cable Market?
Finolex Cables Limited, Syska Led Lights Pvt Ltd, V-Guard Industries Ltd., Havells India Ltd. and Polycab India Limited are the major companies operating in the India Wire And Cable Market.
What years does this India Wire And Cable Market cover, and what was the market size in 2023?
In 2023, the India Wire And Cable Market size was estimated at USD 17.66 billion. The report covers the India Wire And Cable Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Wire And Cable Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Wire And Cable Industry Report
Statistics for the 2024 India Wire And Cable market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Wire And Cable analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
