Aluminum Cable Market (By Grade: Electrical, Alloy, Mechanical; By Product: Enameled, Paper insulated, Fiberglass Insulated, Mika Insulated, Cotton Insulated, Nomex insulated; By Application: Automobile, Circuit Breakers, Home Electrical Appliances, Switches and Meters, Transformers, Motors, Rotating Machines, Shipping) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global aluminum cable market size was exhibited at USD 55.73 billion in 2022 and is projected to hit around USD 87.91 billion by 2032, growing at a CAGR of 4.66% during the forecast period 2023 to 2032.

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Aluminum wires or cables are made of a metal called aluminum and it has great strength and capacity due to which it is used as a conductor for power lines. Aluminum is a metal that is low in weight and due to this property, it will have better growth during the forecast period. When it comes to the electrical industries and automotive industries the use of aluminum wires has grown to a great extent in recent years. In the automotive sector, Transformers, electrical appliances and electrical fittings make use of aluminum cables or aluminum wires. These wires provide excellent resistance to corrosion, and they provide better versatility as compared to any other metal due to which the demand for these aluminum wires is expected to grow well during the forecast period.

Key Takeaways

• On the basis of product, the enameled segment held the largest revenue share in 2022.
• On the basis of application, the automotive segment held more than 48% revenue share in 2022. 
• On the basis of geography, the North American region will register maximum growth from 2023 To 2032.

Growth Factors

Aluminum wires provide greater resistance to corrosion, and they provide versatility due to which they are used in various sectors to a great extent. Extensive use of aluminum wires in electrical appliances, the automotive sector, transformers and electrical fittings has grown. Demand for these aluminum cables is growing well in various nations across the globe as the use of these aluminum wires is more in different types of industries. Industries like electronics and automotive along with the food and beverages industry make extensive use of aluminum wires. The microorganism can be prevented from growing with the use of Aluminum and it also helps in preserving different types of food for a longer period of time. The automotive industry makes use of aluminum in the making of vehicles as it assists in reducing the weight of the vehicle. Even though the weight of the vehicle is reduced the strength is not compromised and the carrying capacity is also not compromised.

• One of the major factors driving the growth of the aluminum cable market is the growing demand for aluminum cables in the automobile industry.
• Most of the developing economies are nations that are seeing rapid urbanization and rapid industrialization due to which the demand for aluminum cables has increased. Next slide in the industrial sectors, residential sectors and the commercial sectors Aluminum cables are in greater demand.
• The growing demand for hybrid vehicles and electric vehicles will lead to increased use of Aluminum cables or aluminum wires.

Aluminum Cable Market Scope

Aluminum Cable Market Dynamics

Key Market Drivers:

• Mechanical and electrical properties - These properties of the aluminum wires lead to extensive use of this product in the power grid, homes, and in the electrical wiring of aircraft.
• Use of wires in the construction industry - Aluminum cables is used on a large scale in the field of construction, especially for the distribution of electricity. Home gambling is also done with the use of aluminum wires as this is seen to be a safer option as compared to the other options. Electrical fittings and home solutions of advanced nature make use of aluminum wires.
• Use of Aluminum cables in automobiles - The automobile industry also makes use of aluminum wires in order to reduce the weight of the vehicles as it helps in providing better efficiency by reducing the amount of fuel consumed by such automobiles. Such wires are mainly used for battery connectors.
• Industrial Ethernet is in greater demand - Internet penetration is of the factors driving the market off and we know why was to a great extent the popularity of Internet connectivity in various industries will lead to an increase in the consumption of aluminum wires. Many opportunities for the work of the market will be provided due to the growing demand for Internet connectivity in various nations across the globe. 

Key Market Challenges:

• Availability of other substitutes - copper wires are a better substitute which happened to be available at a lesser cost as compared to aluminum wires and this is the reason that will hamper the market growth of aluminum wires in the coming years. Copper wires have good strength and ductility. Copper wires have good applications in various industries and as this product is available at our affordable price it is preferred by various sectors.
• Reduced free trade - developing economies as well as developing nations have strict regulations for free trade, and this will hamper market growth in the long run. The imposition of taxes in various nations will also lead to a lesser supply of aluminum to various nations. Production cost and tariffs have increased due to which the market growth will be hampered.

Key Market Opportunities:

• Many new products are launched in the market - all the wires are launched in various forms due to a growth in the competition for aluminum vials. Play the rocky various strategies and launching new products in the market.
• Strategic partnerships and collaborations - liberations and partnerships in various nations for the acquisition of different companies will also lead to growth in the market as many new products are launched in the market. The supply chain strategies and operations of various organizations will also change in the long run due to collaborations and partnerships.

Product Insights

Based on the product, the enameled segment has held the highest revenue share in 2022 as it has generated an amount of about 25 billion in the past. align cables are used on a large scale in the Transformers as they are light in weight, and they have great resistance to heat. Moving coils are used in various electrical gadgets where aluminum wires are of great use. Generators and refrigerators make extensive use of Aluminum cables due to which the market is expected to grow significantly.

Paper-insulated rectangular and round aluminum wires will also show a good growth in the coming years. They have great resistance to solvents and abrasion. They provide better electricity performance. Fiberglass insulation Aluminum wires will also show a good demand as these wires provide a great deal of thermal stability. As these wires are highly insulated, they are good use in Transformers. These wires are resistant to abrasion, and they have electrical properties.

Application Insights

On the basis of application, the automotive sector held more than 48% revenue share in 2022. Aluminum cables are of great help in reducing the weight of the vehicle by about 49% due to which the demand for aluminum cables is expected to grow significantly. Terminal contact is also increased, and it also provides better flexibility. Galvanic corrosion can also be reduced to a great extent due to the use of this product and the market will show significant growth in the coming years due to its rapid demand for the automotive sector. 3% growth has been registered for the aluminum wires in the application of meters, switches and circuit Breakers.

Electrical appliances make great use of aluminum wires as it helps in improving the quality. They are also used in light bulbs and also used for different types of connectors. Rotating machines and motors also make a great use of aluminum wires and the application of aluminum wires in this sector will lead to a significant growth which is expected to be about 15 U.S. dollars in the coming years. In order to increase the efficiency of various motors and in the motors where there are major irregularities aluminum wires are used. 

Regional Insights

The aluminum cable market will register maximum growth in the North American region in the coming years. Aluminum cables are used in various industries, especially for the transmission of electricity and distribution of electricity. Aluminum wires are considered to be extremely safe for home wiring and for buildings. These wires offer maximum durability and shelf life which is expected to be about 40 years. These buyers provide high strength due to which they are preferred mostly in many construction industries. Regional growth is driven using aluminum cables in the electrical connections across the North American region.

The aluminum cable market is expected to show a significant growth even in the European region for the nations like France, Netherlands, Italy, Germany and United Kingdom. Sustainable buildings or green buildings. Walls and building projects make use of aluminum as insulation and it also provides fresh air and daylight in the houses and buildings. But the word for aluminum is expected to grow extensively in the European region to save electricity Peter in the countries like China India and Japan the new aluminum wire will increase during the forecast period is expected to show a compound annual growth rate of about 3.5%. These are the countries that will register maximum growth in the Asia Pacific region. Aluminum cables do not break easily, and they have better durability and strength as compared to the other options they are largely used in the construction sector in the region. The market growth is stimulated due to the property of the cables being lighter in weight.

Recent Developments:=

• Aluminum imports in India had increased by about 58% in the year 2019 due to which Aluminum exports of about 50% were increased by Vedanta. 
• Largest producer of aluminum in India, Vedanta announced in the year 2019 that it will export Aluminum to the international markets and this amount will be about more than 50% of what it produces. This decision will help in protecting the primary industry against the increase in the import of scrap. 

Aluminum Cable Market Companies

• United Company RUSAL Plc
• Vedanta Resources Limited
• Novametal SA
• Grupo General Cable Sistemas, S.L.
• Alro S.A.
• Kaiser Aluminum
• Southern Cable
• Southwire Company, LLC
• Sam Dong America
• Priority Wire & Cable Inc.
• Chalco
• Finolex Cables
• Havells India
• Sydney copper scraps
• Victorian Metal Traders
• Badger wire
• Remer SRL
• Wagner
• Gutmann AG
• WMH Group
• Norsk Hydro
• Blecha GMBH
• Nocker Metallbau GMBH
• Aco Eurobar GMBH
• Lp Trading GMBH
• Robotunits GMBH
• Magnitude 7 metals
• Alcoa Corporation
• Century Aluminum
• Pennex Aluminum
• Aluminerie Aloutte
• Termomecanica
• Hydro.com
• Companhia Brasileira de Alumínio
• Nexans Brasil S/A
• Catálogo Conduspar
• Votorantim CBA
• Aluar Aluminio Argentino S.A.I.C
• Sural C.A.
• Emirates Global Aluminum
• Aluminum Bahrain
• Ma’aden Aluminum
• Qatalum
• Sohar Aluminum
• Iran Aluminum Company
• Egypt Aluminum
• Aberdare Cables Limited
• African Cables (Pty) Ltd.
• CCG Cable Terminations
• South Ocean Holdings Limited
• Power Technologies Pty Ltd

Segments covered in the report

By Grade

• Electrical
• Alloy
• Mechanical

By Product

• Enameled 
• Paper insulated
• Fiberglass insulated
• Mika insulated
• Cotton insulated
• Nomex insulated

By Application

• Automobile
• Circuit breakers
• Home electrical appliances
• Switches and meters
• Transformers
• Motors
• Rotating machines
• Shipping

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa