WIRE AND CABLES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In August 2023, Fujikura Ltd. developed lighter and smaller wiring harnesses for automobile side airbags. These new patterns are 30% lighter and 10% smaller in diameter while maintaining the same trauma resistance as PVC tubing. This innovation offers more flexibility in cable routing and helps reduce the weight of the side airbag system.
• July 2023 saw Prysmian Group introducing Prysmian PRYSOLAR, an innovative cable solution for solar power generation. Solar cables, also known as solar photovoltaic cables, are essential for transmitting electrical energy generated by solar modules and ensuring the efficient and safe flow of electricity throughout the circuit.
• Sumitomo Electric Industries, Ltd. improved the transmission loss of terrestrial fiber optic cables in July 2023 using PureAdvanceTM-110, a low-loss fiber with a pure silicon core. These cables were chosen for a Data Center Interconnect (DCI) project, with delivery recently completed.
• Nexans made strides in technological advancements in June 2023 with next-generation high-voltage cables for aerospace decarbonization, achieving higher efficiency compared to previous generations. This represents a significant step toward the aerospace industry's goal of carbon neutrality by 2050.
• In February 2023, Southwire, a prominent wire and cable manufacturer, celebrated the expansion and opening of its new hub at Battery Atlanta in Cobb County,