Report Overview

India Electric Wires and Cables Market - Industry Trends & Forecast Report, 2029

India electric wires and cables market size was estimated at USD 2.2 billion in 2022. During the forecast period between 2023 and 2029, the size of India electric wires and cables market is projected to grow at a CAGR of 4.22% reaching a value of USD 2.82 billion by 2029. Major growth drivers for the India electric wires and cables market include the rising focus on sustainable energy sources, supported by the expansion and modernization of transmission and distribution (T&D) infrastructure necessary for efficiently delivering renewable energy across the country. Another driving force is the increasing trend of investing in metro railways, aimed at enhancing urban transportation and addressing congestion issues due to the growing urban population, contributes to the market's growth. Notably, these investments in metro railways and smart grid projects are also expected to boost global demand for wires and cables. As various industries and infrastructure sectors like power, telecommunications, residential, and commercial continue to expand, the wire and cable industry stands to benefit. Also, the emphasis on renewable energy sources is creating opportunities for cables used in solar and wind power applications, as well as other specialized segments like oil and gas and railways. Wires and cables find diverse applications, spanning from consumer electronics to utilities, material handling, automotive, and entertainment. The industry's outlook is optimistic, driven by the need for expanded grid networks and electric infrastructure improvements.

India Electric Wires and Cables Market – Overview

The India electric wires and cables market involves manufacturing, distributing, and selling various electrical wires and cables used for power, data, and telecommunications transmission. This industry covers a wide range, including wires and cables for power transmission, telecommunications, residential and commercial buildings, and industrial applications, playing a crucial role in supporting India's electrical infrastructure and technological advancements to meet increasing energy demands. Wires are single metal conductors for electric current, while cables consist of multiple wires enclosed in plastic or rubber for signal transmission, utilizing materials like copper, aluminum, plastics, and alloys. They find applications in industries such as defense, oil and gas, and automotive, with rising demand driven by the growing number of residences and houses, particularly in developing countries. The domestic wires and cables industry has experienced significant growth due to government efforts to expand electricity access and increased activity in the housing sector. The Indian wire and cable market holds potential for further growth, supported by government-backed infrastructure projects and investments.

India Electric Wires and Cables Market

Growth Drivers

Increasing Infrastructure Development

The rapid growth in renewable power generation serves as a vital catalyst for the expansion of India's electric wire and cable market. With the nation's escalating focus on sustainable energy sources, there's a mounting requirement for advanced, durable, and technologically superior wiring solutions. Also, the surge in solar and wind energy infrastructure developments fuels the demand for reliable interconnection and transmission systems. Electric wires and cables form an integral component of these energy networks, facilitating the smooth transmission of generated electricity to distribution grids and end users. These factors collectively contribute to the burgeoning India Electric Wires and Cables Market, bolstered by increasing infrastructure development.

Restraints

Price Volatility of Raw Materials

The India electric wire and cable market relies heavily on materials like copper and aluminum to ensure effective electricity conduction. The pricing of these raw materials is susceptible to various influences, including supply-demand disparities, geopolitical tensions, and economic conditions. These dynamic factors contribute to price fluctuations in raw materials, subsequently affecting the cost structure of cable production, leading to inconsistencies in pricing and raising concerns about profitability. Consequently, many manufacturers encounter difficulties in maintaining consistent product pricing, which complicates forecasting and budgeting processes. Thus, these factors are likely to impede the growth of the electric wire and cable market in India in the projected period.

Impact of COVID-19 on India Electric Wires and Cables Market

COVID-19 pandemic adversely affected the India electric wires and cables market. With lockdowns and restrictions in place, several construction and infrastructure projects were delayed or halted, leading to reduced demand for wires and cables. Disruptions in the supply chain, including the availability of raw materials and transportation challenges, affected manufacturing and distribution. The economic downturn resulted in budget cuts for many projects, further affecting the market. However, the increasing emphasis on digitization and remote work drove demand for high-speed internet and telecommunications, partially offsetting the decline. The market is gradually recovering as restrictions ease and infrastructure projects resume.

India Electric Wires and Cables Market

Segmental Coverage

India Electric Wires and Cables Market – By Voltage

By voltage, the India electric wires and cables market is divided into Low Voltage, Medium Voltage, High Voltage, and Extra High Voltage segments. The high voltage segment holds the highest share in the India electric wires and cables market by voltage. The growing adoption of High-voltage direct current (HVDC) underground power cables is driven by their effectiveness in long-distance, high-voltage power transmission. HVDC systems offer a reliable solution for efficient bulk power delivery over extended distances. Additionally, the European Commission's initiatives to enhance cross-border infrastructure and establish an internal energy market will boost demand for HVDC underground power cables in India. These cables facilitate the transfer of large electricity loads across the nation, positively impacting the market. As a result, the India electric wire and cable market is expected to experience growth during the forecast period due to these factors.

India Electric Wires and Cables Market – By End User

On the basis of end user, the India electric wires and cables market is divided into Railway, Power, Construction, and Telecom segments. The railway segment holds the highest share in the India electric wires and cables market by end user. India boasts one of the world's most extensive railway networks, with 126,366 km of tracks covering 67,956 km. The expansion and modernization of this vast network are key contributors to segment growth. Increased government investments focus on enhancing connectivity and transport infrastructure, spurring demand for electric wires and cables. Electrification of railway tracks further drives the need for these products. Additionally, the Indian government's emphasis on renewable energy has increased demand for wires and cables due to solar panel installations in railway stations and on trains. These factors are expected to propel growth in the railway segment and drive India's electric wire and cable market.

India Electric Wires and Cables Market – By Region

Regionally, the India Electric Wires and Cables Market is segmented as North India, South India, East India, and West India.

Competitive Landscape

Major players operating in the India electric wires and cables market include Apar Industries Ltd, Cable Corporation of India Ltd, Diamond Power Infrastructure Ltd, Finolex Cables Ltd, Havells India Ltd, KEI Industries Ltd, Lapp Holding SE, LS Corp., and Polycab India Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In September 2023 - India and Saudi Arabia agreed to connect their power grids through subsea cables, strengthening their energy partnership. This collaboration not only enhances grid reliability but also fosters economic development. It follows a broader initiative to create an India-Middle East-Europe economic corridor, unveiled during the G20 summit, promoting rail and shipping links between India, the UAE, Saudi Arabia, and various European nations. Besides grid interconnection, the agreement encompasses cooperation in renewable energy, hydrogen, electricity, and more. This move signifies India's efforts to diversify its energy sources amid global energy market uncertainties due to geopolitical events, such as Russia's actions in Ukraine.

Scope of the Report

By Voltage

• Low Voltage

• Medium Voltage

• High Voltage

• Extra High Voltage

By End User

• Railway

• Power

• Construction

• Telecom

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Electric Wires and Cables Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing infrastructure development
         2. Rising implementation of smart grid technology
      2. Restraints
         1. High cost of raw materials
      3. Opportunities
         1. Increase in renewable energy generation
      4. Challenges
         1. Lack of skilled labor
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Electric Wires and Cables Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Voltage
         1. Low Voltage
         2. Medium Voltage
         3. High Voltage
         4. Extra High Voltage
      2. By End User
         1. Railway
         2. Power
         3. Construction
         4. Telecom
         5. Others
      3. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. North India Electric Wires and Cables Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By End User
      3. By End User
6. South India Electric Wires and Cables Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By End User
7. East India Electric Wires and Cables Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By End User
8. West India Electric Wires and Cables Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
      2. By End User
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India Electric Wires and Cables Market Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Electric Wires and Cables Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Apar Industries Ltd
    2. Cable Corporation of India Ltd
    3. Diamond Power Infrastructure Ltd
    4. Finolex Cables Ltd
    5. Havells India Ltd
    6. KEI Industries Ltd
    7. Lapp Holding SE
    8. LS Corp.
    9. Polycab India Ltd
    10. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1.       Qualitative Research
       1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
       1.   Secondary Research
       2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Country
    5.       Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       India Electric Wires and Cables Market Segmentation

Figure 2       India Electric Wires and Cables Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Figure 5       India Electric Wires and Cables Market Share, By Product, By Value, 2019–2029

Figure 6       India Electric Wires and Cables Market Share, By End User, By Value, 2019–2029

Figure 7       India Electric Wires and Cables Market Share, By Region, By Value, 2019–2029

Figure 8       North India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Figure 9       North India Electric Wires and Cables Market Share, By Product, By Value, 2019–2029

Figure 10     North India Electric Wires and Cables Market Share, By End User, By Value, 2019–2029

Figure 11     South India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Figure 12     South India Electric Wires and Cables Market Share, By Product, By Value, 2019–2029

Figure 13     South India Electric Wires and Cables Market Share, By End User, By Value, 2019–2029

Figure 14     East India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Figure 15     East India Electric Wires and Cables Market Share, By Product, By Value, 2019–2029

Figure 16     East India Electric Wires and Cables Market Share, By End User, By Value, 2019–2029

Figure 17     West India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Figure 18     West India Electric Wires and Cables Market Share, By Product, By Value, 2019–2029

Figure 19     West India Electric Wires and Cables Market Share, By End User, By Value, 2019–2029

List of Tables

Table 1        India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Table 2        India Electric Wires and Cables Market Size, By Product, By Value, 2019–2029

Table 3        India Electric Wires and Cables Market Size, By End User, By Value, 2019–2029

Table 4        India Electric Wires and Cables Market Size, By Region, By Value, 2019–2029

Table 5        North India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Table 6        North India Electric Wires and Cables Market Size, By Product, By Value, 2019–2029

Table 7        North India Electric Wires and Cables Market Size, By End User, By Value, 2019–2029

Table 8        South India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Table 9        South India Electric Wires and Cables Market Size, By Product, By Value, 2019–2029

Table 10      South India Electric Wires and Cables Market Size, By End User, By Value, 2019–2029

Table 11      East India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Table 12      East India Electric Wires and Cables Market Size, By Product, By Value, 2019–2029

Table 13      East India Electric Wires and Cables Market Size, By End User, By Value, 2019–2029

Table 14      West India Electric Wires and Cables Market Size, By Value (USD Million), 2019–2029

Table 15      West India Electric Wires and Cables Market Size, By Product, By Value, 2019–2029

Table 16      West India Electric Wires and Cables Market Size, By End User, By Value, 2019–2029

Table 17      Apar Industries Ltd Company Overview

Table 18      Apar Industries Ltd Financial Overview

Table 19      Cable Corporation of India Ltd Company Overview

Table 20      Cable Corporation of India Ltd Financial Overview

Table 21      Diamond Power Infrastructure Ltd Company Overview

Table 22      Diamond Power Infrastructure Ltd Financial Overview

Table 23      Finolex Cables Ltd Company Overview

Table 24      Finolex Cables Ltd Financial Overview

Table 25      Havells India Ltd Company Overview

Table 26      Havells India Ltd Financial Overview

Table 27      KEI Industries Ltd Company Overview

Table 28      KEI Industries Ltd Financial Overview

Table 29      Lapp Holding SE Company Overview

Table 30      Lapp Holding SE Financial Overview

Table 31      LS Corp. Company Overview

Table 32      LS Corp. Financial Overview

Table 33      Polycab India Ltd Company Overview

Table 34      Polycab India Ltd Financial Overview