Study #: 4213 | Published: 06/2021 | Pages: 74 | Individual User License: US$ 2,900

Demand for insulated wire and cable in the construction market is forecast to increase 3.1% per year to $7.3 billion in 2025. Residential construction activity will remain elevated, while commercial construction is expected to rebound after declining during the COVID-19 pandemic. Highly commoditized wire and cable products used in mature applications will continue to comprise the bulk of sales, and construction industry growth will be necessary to achieve sales gains.

Booming Single-Family Construction Benefits Insulated Wire & Cable Sales

The residential construction market has been a source of strength for insulated wire and cable demand, not only avoiding a decline, but actually posting growth in 2020. Market performance is on track to be even better in 2021, with housing starts reaching their highest level since before the Great Recession. In particular, new single-family housing construction boomed over this span, spurring strong sales of general purpose thermoplastic and thermoset insulated wire and cable.

While new single-family housing starts are forecast to peak in 2022, residential building construction activity is expected to remain elevated, and wire and cable sales to this market will be well above the 2019 level in 2025. Stronger growth could be possible with a recovery in the multifamily construction market, which underperformed as the pandemic spurred migration to lower-density areas.

Commercial Market Continuing to Face Challenges

Sales of insulated wire and cable products to the commercial construction market declined significantly in 2020, and a substantial recovery is not expected to begin until 2022 at the earliest. The impact of the COVID-19 pandemic adversely affected multiple segments of the commercial market:

  • Lodging construction fell amid sharp reductions in travel.
  • Construction of educational facilities fell amid a halt in in-person schooling and a decline in college enrollment.
  • Office building construction shrank as a shift to remote work reduced demand for office space.

Demand is expected to pick up in 2022, but it remains uncertain how the social changes instigated by the pandemic will evolve over the long term. In particular, persistence of the growth in remote work could prevent a recovery in the office construction segment.

Market Consolidation Increasing

The construction market for insulated wire and cable has become increasingly consolidated in recent years. Major competitors that have expanded via acquisitions in this segment recently include Southwire and Prysmian Group. Due to the high level of commoditization in this market, efficiencies via economies of scale represent a crucial competitive advantage, which has led the leading suppliers to target key acquisitions to improve their competitive advantage.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Market Scope & Product Description

Impact of COVID-19 Pandemic on Construction Wire & Cable

3. Overview

Construction Industry Outlook

Historical Wire & Cable Market Trends

Demand by Product

Pricing Trends

4. Building Wire & Cable

Scope & Product Description

Supply & Demand

Demand by Type

General Purpose (Thermoplastic or Thermoset)

Nonmetallic & Underground

Other Building Wire & Cable (Armored, Service Entrance, All Other)

Demand by Market

Key Suppliers

5. Other Construction Wire & Cable

Telephone Wire

Scope & Product Description

Demand by Market

Key Suppliers

Other Wire & Cable (Electronic Wire & Cable, Power Wire & Cable, Fiber Optic Cable)

Scope & Product Description

Demand by Type & Market

6. Markets

Demand by Market

Residential Buildings

Commercial Buildings

Nonbuilding

7. Key Suppliers & Industry Structure

Industry Composition

Market Share

Mergers & Acquisitions

8. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographics

Building Construction

Residential Building Construction

Commercial Building Construction

Nonbuilding Construction Expenditures

Manufacturing Outlook


List of Tables

2. About This Report

Table 2-1 | Annual Construction Wire & Cable Demand by Market, 2019 - 2021 (million dollars)

3. Overview

Table 3-1 | Construction Wire & Cable Demand, 2010 - 2020 (million dollars)

Table 3-2 | Construction Wire & Cable Demand by Product, 2010 - 2030 (million dollars)

Table 3-3 | Construction Wire & Cable Pricing by Product, 2010 - 2030 (2012=100)

4. Building Wire & Cable

Table 4-1 | Building Wire & Cable Supply & Demand, 2010 - 2030 (million dollars & million 2012 dollars)

Table 4-2 | Building Wire Demand by Type, 2010 - 2030 (million dollars)

Table 4-3 | Building Wire & Cable Demand by Market, 2010 - 2030 (million dollars)

5. Other Construction Wire & Cable

Table 5-1 | Telephone Wire Demand by Market, 2010 - 2030 (million dollars)

Table 5-2 | Other Construction Wire & Cable Demand by Type & Market, 2010 - 2030 (million dollars)

6. Markets

Table 6-1 | Construction Wire & Cable Demand by Market, 2010 - 2030 (million dollars)

Table 6-2 | Residential Building Construction Wire & Cable Demand by Product, 2010 - 2030 (million dollars)

Table 6-3 | Commercial Building Construction Wire & Cable Demand by Product, 2010 - 2030 (million dollars)

Table 6-4 | Nonbuilding Construction Wire & Cable Demand, 2010 - 2030 (million dollars)

7. Key Suppliers & Industry Structure

Table 7-1 | Selected Mergers & Acquisitions

8. Appendix

Table 8-1 | Relevant Industry Codes

Table 8-2 | Relevant HS/HTS Codes

Table 8-3 | Macroeconomic Indicators, 2010 - 2030 (billion 2012 dollars)

Table 8-4 | Population & Households, 2010 - 2030 (million persons)

Table 8-5 | Building Construction Expenditures, 2010 - 2030 (billion dollars & billion 2012 dollars)

Table 8-6 | Residential Building Construction Expenditures, 2010 - 2030 (billion dollars & billion 2012 dollars)

Table 8-7 | Commercial Building Construction Expenditures, 2010 - 2030 (billion dollars & billion 2012 dollars)

Table 8-8 | Nonbuilding Construction Expenditures, 2010 - 2030 (billion dollars & billion 2012 dollars)

Table 8-9 | Manufacturers' Shipments, 2010 - 2030 (billion dollars & billion 2012 dollars)


List of Figures

1. Executive Summary

Figure 1-1 | Construction Wire & Cable Market Outlook

2. About This Report

Figure 2-1 | Annual Construction Wire & Cable Demand by Market, 2018 - 2023 (% annual change)

3. Overview

Figure 3-1 | Construction Expenditures, 2020 - 2025 (billion dollars)

Figure 3-2 | Construction Wire & Cable Demand, 2010 - 2020 (million dollars)

Figure 3-3 | Construction Wire & Cable Demand by Product, 2010 - 2020 (million dollars)

Figure 3-4 | Construction Wire & Cable Pricing by Product, 2010 - 2030 (2012=100)

6. Markets

Figure 6-1 | Construction Wire & Cable Demand by Market, 2010 - 2020 (million dollars)

Figure 6-2 | Residential Building Construction Wire & Cable Demand by Product, 2010 - 2030 (million dollars)

Figure 6-3 | Commercial Building Construction Wire & Cable Demand by Product, 2010 - 2030 (million dollars)

Figure 6-4 | Nonbuilding Construction Wire & Cable Demand, 2010 - 2030 (million dollars)

7. Key Suppliers & Industry Structure

Figure 7-1 | Construction Wire & Cable Market Share by Company, 2020 (billion dollars)


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