Copper Stranded Wire Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Copper Stranded Wire Market is segmented by Geometry (Bunched, Concentric, and Other Geometries), End-user Industry (Construction, Energy, Transportation, Electronics and Telecommunication, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Copper Stranded Wire Market Size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >1 %
Copper Stranded Wire Market Major Players

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Market Overview

The copper stranded wire market is projected to register a CAGR of 1% during the forecast period (2021-2026).

There is a huge fall in the revenue of the construction industry due to the covid-19 outbreak. The market suffered a lot due to the restrictions and lockdowns in most parts of the world. In China, by the March 2020 end, construction work resumed on 90% of 11,000 key projects, according to reports by the National Development and Reform Commission (NDRC). However, the shortage of labor, transportation, and supply of raw materials continues to be an issue. The slowdown in the construction industry has a key role in making the demand growth harder to achieve for copper-stranded wire in 2020. The building construction in the APAC region is expected to witness a period of negative/low growth over the next two years, driven by an economic downturn triggered due to the current outbreak. Especially, the commercial construction industry in the Asia-Pacific region has been witnessing a great dip as of present condition. The United States represents one of the largest construction industries in the world. The construction investments in the country have been decreasing due to rapidly growing cases. The construction spending in the country decreased from USD 1,436.73 billion in March 2020 to USD 1,364.57 billion in July 2020. Additionally, the construction of hotels is expected to dip by 1% in 2020 and 0.7% in 2021. As copper-stranded wires are used in the reduction of vibrations in the construction, the demand for copper-stranded wires has declined. Similarly, the demand for copper stranded wires was also negatively affected in other end-user industries like transportation, electronics, etc. However, the market growth is expected to recover in 2021 with the uplift of lockdown and resumed work in many end-user industries.

  • Over the medium term, the major factors driving the market studied include the increasing energy requirement and developments of products with more flexible and functional applications.
  • Loss of energy due to the proximity effect is expected to hinder the market's growth significantly.
  • Increasing usage in infrastructure, telecommunications, energy, etc., and activities in emerging economies are likely to act as opportunities in the future.
  • Asia-Pacific is expected to dominate the global market during the forecast period.

Scope of the Report

Copper stranded wires are flexible than solid copper wires of the same cross-sectional area with higher fatigue resistance, copper stranded wire consists of multiple small copper wires wrapped together forming a larger conductor. The copper-stranded wire market is segmented by geometry, end-user industry, and geography. By geometry, the market is segmented into bunched, concentric, and other geometries. By end-user industry, the market is segmented into construction, energy, transportation, electronics and telecommunication, and other end-user industries. The report also covers the market size and forecasts for the copper stranded wire market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Other Geometries
End-user Industry
Electronics and Telecommunication
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Growing Demand from the Construction Industry

  • Copper-stranded wires are used for electric supply and can be installed at both the residential and industrial levels. One of the major end-users of the copper-stranded market is the construction industry.
  • According to a study by the Institution of Civil Engineers (ICE), the global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by China, India, and the United States region.
  • Globally, Asia-Pacific has the largest construction market, which is led by India, China, and various Southeast Asian countries. In India, the government has initiated projects such as 100 smart cities and ‘Housing for All by 2022’, which are expected to drive India's residential construction market through the forecast period. The country has even experienced significant interest from foreign investors in its infrastructural sector.
  • In the construction industry, infrastructure is the major contributor to the market demand for copper stranded wires.
  • According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDIs in the construction development sector and infrastructure stood at USD 25.78 billion and USD 17.22 billion, respectively, between April 2020 and September of 2020, in India.
  • Increasing investment in the construction of infrastructure in Middle East & Africa is expected to boost the demand for copper stranded wires.
  • Therefore, the growing investments are expected to drive the market studied during the forecast period.
Copper Stranded Wire Market Research Report

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the demand in the copper stranded wire market during the forecast period. China is a huge contributor as it has been one of the leading investors in infrastructure worldwide over the past few years.
  • In 2018, China also invested around USD 274 billion on 3,485 infrastructure projects for the next 15 years across the world. This growing investment in infrastructure is likely to boost the demand for copper-stranded wire during the forecast period.
  • India is one of the major electronics manufacturers, and the electronics market has stood at USD 215 billion in 2019. The market is anticipated to witness fast growth in the country, which will further drive the copper-stranded wire market.
  • China is the world’s largest automotive producer. However, since 2018, the country has been witnessing a decline in automotive production. In 2018, the country recorded a decline of 4.16% in vehicle production, followed by 7.5% in 2019. The automotive industry's performance was affected by the economic shifts and China's trade war with the United States. In 2019, the country also recorded a decline of 8.2% in domestic automotive sales.
  • In 2020, COVID-19 had even downsized the demand for automobiles in China. In addition, automotive demand from the international market also declined due to restricted trade to curb the spread of coronavirus. Hence, such factors have negatively impacted domestic vehicle production in the country during 2020.
  • China’s energy sector is also thriving, owing to the high demand for energy. The rapidly growing industrial sector is one of the key factors driving the energy demand in China. However, China’s automotive market shrank by just 1.9%, as the industry witnessed a rise in domestic sales, which was recorded to be about 25.3 million by the end of 2020.

Furthermore, countries such as India and Japan have also been contributing to the growth of the market studied. This is expected to drive further the demand in the copper stranded wire market over the forecast period.

Copper Stranded Wire Market Analysis

Competitive Landscape

The copper stranded wire market is partially fragmented in nature. Some of the major players of the market studied include Prysmian Group, Alan Wire Company, Nexans, alfanar Group, and Sumitomo Electric Industries, Ltd., among others.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Energy Requirement

      2. 4.1.2 Developments of Products with More Flexible and Functional Application

    2. 4.2 Restraints

      1. 4.2.1 Loss of Energy Due to Proximity Effect

      2. 4.2.2 Expensive to Manufacture

      3. 4.2.3 Unfavorable Conditions Arising Due to COVID-19

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Geometry

      1. 5.1.1 Bunched

      2. 5.1.2 Concentric

      3. 5.1.3 Other Geometries

    2. 5.2 End-user Industry

      1. 5.2.1 Construction

      2. 5.2.2 Energy

      3. 5.2.3 Transportation

      4. 5.2.4 Electronics and Telecommunication

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alan Wire Company

      2. 6.4.2 Alfanar Group

      3. 6.4.3 General Cable Technologies Corporation

      4. 6.4.4 NEXANS

      5. 6.4.5 IWG Owl Wire and Cable

      6. 6.4.6 Pacific Electric Wire and Cable Co. Ltd

      7. 6.4.7 Polycab India Limited

      8. 6.4.8 Prysmian Group

      9. 6.4.9 Sarkuysan

      10. 6.4.10 Southwire Company LLC

      11. 6.4.11 Sumitomo Electric Industries Ltd

      12. 6.4.12 Superior Essex Inc.

      13. 6.4.13 W. L. Gore & Associates Inc.

    5. *List Not Exhaustive

    1. 7.1 Development of Litz Wire for High-frequency Transformers

    2. 7.2 Increasing Usage in Infrastructure, Telecommunications, Energy, etc., and Activities in Emerging Economies

**Subject to Availability

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Frequently Asked Questions

The Copper Stranded Wire Market market is studied from 2016 - 2026.

The Copper Stranded Wire Market is growing at a CAGR of >1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Nexans, Alan Wire Company, Prysmian Group, Sumitomo Electric Industries, Ltd., alfanar Group are the major companies operating in Copper Stranded Wire Market.

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