Report Overview

Vietnam Wires and Cables Market – Industry Trends & Forecast Report, 2030

Vietnam Wires and Cables Market size is projected to grow at a CAGR of 7.13% during the forecast period between 2024 and 2030. Prominent drivers of Vietnam Wires and Cables Market include the rising government investment in energy and power initiatives, such as Nam Dinh I, Thai Binh II, Vung Ang III, and Van Phong I, along with an increasing focus on renewable energy to meet the soaring demands of the rapidly developing economy. The market is also experiencing growth due to a surge in infrastructure projects and advancements in technology. The government's dedication to improving urban infrastructure and rural electrification has resulted in a heightened demand for high-quality wires and cables. Businesses are increasingly investing in advanced manufacturing techniques to produce more efficient and durable products for both domestic and international markets. The transition toward renewable energy sources, especially solar and wind, has further propelled the wires and cables sector, leading to the creation of specialized products capable of withstanding challenging environmental conditions. Also, infrastructure development is a crucial growth driver, supported by the government’s “Infrastructure Master Plan 2020,” which seeks to modernize infrastructure and enhance regional connectivity. This initiative prioritizes the construction of high-speed rail networks, highways, airports, and seaports, all of which require rising quantities of quality wires and cables.

Wires and Cables – Overview

Wires and cables are insulated conductors used for transmitting electrical power and signals. Wires are typically single, thin strands of metal, such as copper or aluminum, and can be bare or insulated to prevent short circuits and environmental damage. Cables, on the other hand, consist of multiple wires bundled together, often featuring additional insulation and protective layers. They come in various configurations, including twisted pairs and coaxial cables, designed for specific applications like telecommunications, power distribution, and data transfer. Overall, wires and cables are essential components in electrical systems, facilitating efficient power delivery and communication across multiple industries.

Vietnam Wires and Cables Market

Growth Drivers

Government’s Initiatives to Modernize Infrastructure

The Vietnamese government has increasingly prioritized creating a conducive environment for industrial growth, exemplified by the introduction of Decree No. 33 in 2011, which establishes a regulatory framework for the wires and cables sector. This regulation aims to formalize the industry by setting product standards and licensing requirements. Additionally, supportive measures have been implemented to boost exports, leading to sector expansion and a rise in new market entrants. Significant investments highlight this commitment to infrastructure modernization, such as the contract between Vietnamese steelmaker Hoa Phat Steel Pipe and LILAMA Corporation to supply steel pipes and cables to South Korea, alongside Sumitomo Electric's $40 million investment in a factory focused on high-quality exports to Japan and Southeast Asia. Moreover, the ongoing China-US trade war positions Vietnam as an attractive alternative for businesses seeking cost-effective solutions, likely resulting in a surge of foreign investment in the wires and cables industry.

Challenges

Fluctuations in Raw Material Prices

Fluctuations in the prices of raw materials, particularly copper and aluminum, pose significant challenges to the growth of the Vietnam Wires and Cables Market. These metals are essential for manufacturing high-quality wires and cables, and any volatility in their prices can directly impact production costs. Rising raw material costs can lead to increased product prices, affecting demand and profitability for manufacturers. Additionally, market uncertainty may deter investments and hinder the expansion of production capacities, ultimately restraining the overall growth potential of the wires and cables industry in Vietnam.

Impact of Escalating Geopolitical Tensions on Vietnam Wires and Cables Market

Escalating geopolitical tensions among countries and spreading across regions could have a significant impact on the growth of Vietnam Wires and Cables Market. Such tensions may disrupt global supply chains, leading to increased costs and delays in the procurement of essential raw materials like copper and aluminum. Moreover, uncertainty in international relations could deter foreign investments, limiting capital influx and technological advancements in the sector. Additionally, trade restrictions and tariffs could affect Vietnam's export capabilities, particularly in markets heavily impacted by geopolitical conflicts. As a result, these factors could hinder the overall growth and competitiveness of the wires and cables industry in Vietnam.

Vietnam Wires and Cables Market

Segmental Coverage

Vietnam Wires and Cables Market – By Voltage

Based on voltage, Vietnam Wires and Cables Market is divided into Low Voltage, Medium Voltage, High Voltage, and Extra High Voltage segments.

Vietnam Wires and Cables Market – By Product

By product, Vietnam Wires and Cables Market is divided into Multi-Conductor, Twister Pair, Coaxial, and Fiber Optics segments. The fiber optics segment holds the highest share in Vietnam Wires and Cables Market by products, reflecting the country's commitment to enhancing its digital infrastructure. Vietnam aims to increase the number of international fiber optic cables from five to 15 by 2030, highlighting the critical role of this segment in ensuring robust international connectivity. A report from the Ministry of Information and Communications outlines ambitious plans to develop the fiber optic system, prioritizing investments to support the digital economy, society, and national security. By 2027, Vietnam plans to introduce four new undersea fiber optic cable lines, boosting total capacity to at least 134 Tbps. Additionally, the country aims to establish at least two more international land fiber optic lines by 2030, significantly increasing its capacity on land. These initiatives demonstrate Vietnam's determination to position itself as a key player in regional and international digital infrastructure, emphasizing the importance of the fiber optic segment in the overall market.

Vietnam Wires and Cables Market – By Installation

On the basis of installation, Vietnam Wires and Cables Market is bifurcated into Overhead and Underground segments. The overhead segment holds a higher share in Vietnam Wires and Cables Market by installation. The overhead installation technique is the most commonly employed method globally due to its simplicity and cost-effectiveness. This approach is particularly prevalent in countries with lower population densities. However, nations that face a higher risk of natural disasters, such as earthquakes and floods, also tend to utilize overhead cable installations despite the associated vulnerabilities.

Vietnam Wires and Cables Market – By Material

By material, Vietnam Wires and Cables Market is divided into Copper, Aluminum, and Glass segments.

Vietnam Wires and Cables Market – By Application

On the basis of application, Vietnam Wires and Cables Market is segmented into Residential, Commercial, Industrial, Energy & Power, IT & Telecommunications, and other (including Hospitality, Healthcare, and Aerospace) segments.

Competitive Landscape

Major players operating in Vietnam Wires and Cables Market include Vietnam Electric Cable Corporation (CADIVI), Thinh Phat Cables Joint Stock Company, Daphaco Cable Joint Stock Company, Thuong Dinh Electrical Wires and Cables JSC, Tanghenam Electric Wire and Cable Co., Ltd, Hoang Khanh Trading Co., Ltd, Helukabel Vietnam, Tai Truong Thanh Manufacturing, Korea Electrical Equipment Joint Stock Company, and Daphaco Electric Cable Joint Stock Company. 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 October 2024 - Vietnam announced its plans to lay two new undersea fiber optic cables as part of its telecommunications infrastructure strategy, which aims to incorporate advanced technologies such as AI and cloud computing.

Scope of the Report

By Voltage

• Low Voltage

• Medium Voltage

• High Voltage

• Extra High Voltage

By Product

• Multi-Conductor

• Twisted Pair

• Coaxial

• Fiber Optics

By Installation

• Overhead

• Underground

By Material

• Copper

• Aluminum

• Glass

By Application

• Residential

• Commercial

• Industrial

• Energy & Power

• IT & Telecommunications

• Others (Hospitality, Healthcare, Aerospace)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam Wires and Cables Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rapid Industrialization in Vietnam
         2. Government initiatives to modernize the country's infrastructure
         3. Rising number of urban centers and growing population
      2. Restraints
         1. Fluctuations in the prices of raw materials like copper and aluminum
         2. Adherence to international quality standards
         3. Ensuring a reliable and efficient supply chain
      3.  Opportunities
         1. Government policies to promote industrialization and infrastructure development
         2. Growing adoption of advanced technologies like 5G, IoT, and electric vehicles
         3. Renewable energy growth
      4. Challenges
         1. Stringent regulations and quality standards for wires and cables
         2. Lack of skilled workers for installation and maintenance
   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. Vietnam Wires and Cables Market: Marketing Strategies
5. Vietnam Wires and Cables Market: Pricing Analysis
6. Vietnam Wires and Cables Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Voltage
         1. Low Voltage
         2. Medium Voltage
         3. High Voltage
         4.  Extra High Voltage
      2. By Product
         1. Multi-Conductor
         2. Twisted Pair
         3.  Coaxial
         4.  Fiber Optics
      3. By Installation
         1. Overhead
         2. Underground
      4. By Material
         1. Copper
         2. Aluminum
         3. Glass
      5. By Application
         1. Residential
         2. Commercial
         3. Industrial
         4. Energy & Power
         5. IT & Telecommunications
         6. Others (Hospitality, Healthcare, Aerospace)
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Vietnam Wires and Cables Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Vietnam Wires and Cables Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
   1. Vietnam Electric Cable Corporation (CADIVI)
   2. Thinh Phat Cables Joint Stock Company
   3. Daphaco Cable Joint Stock Company
   4. Thuong Dinh Electrical Wires and Cables JSC
   5. Tanghenam Electric Wire and Cable Co. Ltd
   6. Hoang Khanh Trading Co. Ltd
   7. Helukabel Vietnam
   8. Tai Truong Thanh Manufacturing
   9. Korea Electrical Equipment Joint Stock Company
   10. Daphaco Electric Cable Joint Stock Company
   11. Other prominent players
10. Key Strategic Recommendations
11. 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
    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       Vietnam Wires and Cables Segmentation

Figure 2       Vietnam Wires and Cables Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Vietnam Wires and Cables Market Size, By Value (USD Billion), 2019–2030

Figure 5       Vietnam Wires and Cables Market Share, By Voltage, By Value (USD Billion), 2019–2030

Figure 6       Vietnam Wires and Cables Market Share, By Product, By Value (USD Billion), 2019–2030

Figure 7       Vietnam Wires and Cables Market Share, By Installation, By Value (USD Billion), 2019–2030 

Figure 8       Vietnam Wires and Cables Market Share, By Material, By Value (USD Billion), 2019–2030

Figure 9       Vietnam Wires and Cables Market Share, By Application, By Value (USD Billion), 2019–2030                                       

List of Tables      

Table 1        Vietnam Wires and Cables Market Size, By Value (USD Billion), 2019–2030

Table 2        Vietnam Wires and Cables Market Share, By Voltage, By Value (USD Billion), 2019–2030

Table 3        Vietnam Wires and Cables Market Share, By Product, By Value (USD Billion), 2019–2030

Table 4        Vietnam Wires and Cables Market Share, By Installation, By Value (USD Billion), 2019–2030

Table 5        Vietnam Wires and Cables Market Share, By Material, By Value (USD Billion), 2019–2030

Table 6        Vietnam Wires and Cables Market Share, By Application, By Value (USD Billion), 2019–2030 

Table 7        Vietnam Electric Cable Corporation (CADIVI) Company Overview

Table 8        Vietnam Electric Cable Corporation (CADIVI) Financial Overview

Table 9        Thinh Phat Cables Joint Stock Company: Company Overview

Table 10      Thinh Phat Cables Joint Stock Company Financial Overview

Table 11      Daphaco Cable Joint Stock Company: Company Overview

Table 12      Daphaco Cable Joint Stock Company Financial Overview

Table 13      Thuong Dinh Electrical Wires and Cables JSC Company Overview

Table 14      Thuong Dinh Electrical Wires and Cables JSC Financial Overview

Table 15      Tanghenam Electric Wire and Cable Co. Ltd Company Overview

Table 16      Tanghenam Electric Wire and Cable Co. Ltd Financial Overview

Table 17      Hoang Khanh Trading Co. Ltd Company Overview

Table 18      Hoang Khanh Trading Co. Lt. Financial Overview

Table 19      Helukabel Vietnam Company Overview

Table 20      Helukabel Vietnam Financial Overview

Table 21      Tai Truong Thanh Manufacturing Company Overview

Table 22      Tai Truong Thanh Manufacturing Financial Overview

Table 23      Korea Electrical Equipment Joint Stock Company: Company Overview

Table 24      Korea Electrical Equipment Joint Stock Company Financial Overview

Table 25      Daphaco Electric Cable Joint Stock Company: Company Overview

Table 26      Daphaco Electric Cable Joint Stock Company Financial Overview