CLEVELAND — Insulated wire and cable demand in the U.S. is projected to advance 3.8% annually in nominal terms to 2023, according to Insulated Wire & Cable: United States, a report recently released by Freedonia Focus Reports, a division of MarketResearch.com. Suppliers will benefit from continued growth in nonresidential and residential fixed investment, which will support ongoing gains in construction expenditures and shipments of durable goods. Growing investment in telecommunication utilities will boost sales of products such as fiber optic cable. Faster gains will be limited by the commodity nature of many items and competition from suppliers in countries with lower production costs such as China and Mexico, limiting demand growth in value terms.
Fiber Optic Cable to Rule
Demand for fiber optic cable is expected to outpace all other discrete segments due to rising investment in telecommunications. Continued efforts to connect the last mile of the internet network with fiber optic cable will drive sales. Further, 5G mobile communication networks require a backbone built with fiber optic cable, boosting sales as 5G investment grows.
This report forecasts to 2023 US insulated wire and cable demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:
- Building
- Apparatus
- Electronic
- Fiber optic
- Power
- Telephone
- Magnet
- Other products such as transport equipment and control and signal insulated wire and cable
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