Europe Wire and Cables Market - Industry Analysis and Forecast (2025-2032)

Europe Wire and Cables Market Overview:

Wire and cables are commonly used interchangeably, but technically, a wire refers to a single electrical conductor while a cable consists of multiple conductors or a bundle of wires within a protective covering. The Europe wire and cables industry is mostly driven by the rise in renewable energy projects, especially solar and wind power installations. The demand for premium cables is rising sharply as a result of the integration of smart grid technologies and the requirement for effective power distribution systems. Prysmian Group, Nexans, NKT, Leoni, and other companies in the wire and cables manufacturing industry are driving innovation and capturing significant market share. To satisfy the changing demands of the Wire and Cables industry, these major companies are concentrating on increasing their product lines and making investments in cutting-edge technology. The increasing sales of specialty cables for uses such as Industry 4.0, electric cars, and offshore wind farms support the Wire and Cables market revenue. Government programs that support sustainable infrastructure and energy efficiency are offering significant growth in the Europe Wire and Cables Market.

 

 

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Europe Wire and Cables Market Dynamics:

Europe Wire and Cables Market Growth Driven by Renewable Energy, Automation, and Industry 4.0 Advancements

Numerous variables, including the growth of power generation, the use of renewable energy resources for power distribution, and the demand from the automotive and non-automotive industries, contribute to the Europe Wire and Cables market growth. The increased adoption of automation in the industrial sector owing to the growth of Industry 4.0 has led to a wider use of control and instrumentation cables. The emergence of Industry 4.0 denotes a significant shift, as companies are now able to integrate machine learning, extended reality (XR), and the Internet of Things (IoT) with ease. The efficiency, productivity, and innovation of industries are changing, as a result of these integrated skills.  New and updated power connections are needed for Europe's developing smart grids, which effectively facilitate digital and voice transmission. An electricity network that effectively coordinates the activities of all of its customers, including both generators, is known as a smart grid.

 

There are growing government initiatives in European countries promoting energy efficiency and environmental sustainability. The installation of solar power plants and wind farms is increasing, driving the Wire and Cables market for specialized power cables that handle high voltage and withstand harsh environmental conditions.

 

 

NKT Cables manufactures electrical products for offshore wind farms, wire systems, construction, railways, and onshore power plants. The company operates via multiple business segments, including high voltage onshore, building wire & low voltage, railway medium voltage, and automotive accessories. It has extended operations across the UK and Sweden, with headquarters in Cologne, Germany.

 

• Renewables are one of the biggest cable-consuming sectors in Germany. This is set to continue, as the government is targeting 30 GW of offshore wind capacity, 215 GW of solar, and 115 GW of onshore wind by 2030. Overall renewables are projected to constitute 9.0% of total cable consumption in 2023.

 

Solar energy is forecasted to be one of the most cable-consuming renewable energy types, with 47% of all cables being used in renewable energy coming from solar in 2023. By 2030 solar energy’s share will rise to 52%, and Germany pushing to achieve their goal of 215 GW solar capacity by 2030. At the end of 2022, Germany's solar capacity stood at 66.5 GW, which means that the country has to nearly triple its existing capacity through the forecast period. Most of the consumed cables in solar are energy cables (LVE and power cables), which represent about 77.3% of all cables consumed, followed by winding wire (21.4%) and internal data cables (1.3%).

 

Europe Wire and Cables Market Segment Analysis:

By Voltage, low voltage held XX % market share in 2024 for the Europe Wire and Cables Market. Owing to urbanization and the growth of residential areas, contribute to the growth of the low-voltage cable segment. Growing demand and improving power infrastructure have collectively boosted the overall demand for low to medium-voltage cables in the wire and cables market. This has put pressure on existing resources and increased dependence on renewable sources such as solar and wind energies for power generation over coal.

 

The segment is projected to experience considerable growth in renewable energy sources in through the forecast period, as many governments and private organizations are taking initiatives to generate more power from renewable sources.

 

• For instance, HEP, Croatia's government-owned power company, plans to boost its renewable energy capacity to 50% from the current 35% by investing USD 153.96 million annually until 2030. This plan aims to improve the necessity for an effective power distribution system in solar energy production. It involves linking low voltage cables from the panel to the combiner box, from the combiner box to the inverter, and from the inverter to the transformer.

 

Europe Wire and Cables Market Regional Insight:

Germany has dominated the Europe Wire and Cables Market, which held the largest market share accounting for XX% in 2024.  Its strong business foundation, advanced technology, and highly developed infrastructure sector have solidified its position as a leading center for wire and cable demand. Investing in developing infrastructure, such as smart grids, transportation networks, and telecommunication systems, is projected to boost the demand for various cable types in the Europe Wire and Cables market. Government backing for building projects guarantees a consistent need for wires and cables.

 

Germany has a 30% share of all European LV energy cable consumption and a 23% share of total insulated cable consumption. The primary reason for a larger share of LV energy consumption is that Germany is by far the biggest car manufacturer in Europe. Germany produced 78% more car units than Spain, the second largest automotive producer. LV cable makes up 65.4% of all Germany's imports, most of which consist of LV automotive wire and cables harnesses for Germany's automotive industry. In 2024, these wiring harnesses mainly came from countries like Romania, Tunisia and the Czech Republic, supplied by companies such as Leoni, Sumitomo (SEBN), Yazaki Europe, Kromberg & Schubert, Nexans Automotive and Coficab.

 

 

Europe Wire and Cables Market Competitive Landscape:

• In April 2024, Danish power cable manufacturer NKT AS revealed a strategic investment totaling around USD 108.5 million (EUR 100 million). This project aims to increase production capacity for medium-voltage cables in response to the increased demand from grid upgrades and European renewable energy projects. The company expects improved production abilities, aiming for complete operational capacity by 2026.

 

• In February 2024, Nexans, a key player in the global shift towards cleaner energy, revealed a major agreement to acquire the well-known La Triveneta Cavi. La Triveneta Cavi, famous for its high quality in the medium and low-voltage sectors in Europe, is based in Italy. The company focuses on manufacturing low-voltage cables for different uses such as construction, infrastructure, fire safety, and sustainable energy, and sells its products in 30 countries.

 

Europe Wire and Cables Market Scope:

Europe Wire and Cables Market
Market Size in 2024	USD 55.60 billion.
Market Size in 2032	USD 89.43 billion.
CAGR (2025-2032)	6.12 %
Historic Data	2019-2024
Base Year	2024
Forecast Period	2025-2032
Segments	By Voltage Low High Extra high
	By Installation Overhead Underground
	By End Use Energy & Power Aerospace & Defence Automotive Building & Construction Oil & Gas IT & Telecommunication Others
Regional Scope	Europe –UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe

 

Europe Wire and Cables Market Key Players:

• NKT (Denmark)
• Prysmian (Italy)
• Nexans S.A. (France)
• Leoni AG (Germany)
• Others