India wires and cables market is projected to grow from USD 10.01 billion in 2025 to USD 17.08 billion by 2032, exhibiting a CAGR of 7.94%

India wires and cables market is projected to grow from USD 10.01 billion in 2025 to USD 17.08 billion by 2032, exhibiting a CAGR of 7.94%

INDUSTRY REVIEW: WIRES AND CABLES

The global wires and cables market size was valued at USD 233 billion in 2025 and is projected to be worth USD 246.48 billion in 2026 and reach USD 409.01 billion by 2034, exhibiting a CAGR of 6.54% during the forecast period. Asia Pacific dominated the global market with a share of 42.10% in 2025.

The India wires and cables market size was valued at USD 9.32 billion in 2024. The market is projected to grow from USD 10.01 billion in 2025 to USD 17.08 billion by 2032, exhibiting a CAGR of 7.94% during the forecast period. India has observed a substantial rise in the demand for wires and cables due to the country’s ambitious renewable energy goals and the growing awareness of the potential of renewable energy, such as solar and wind power. In solar power plants, photovoltaic (PV) projects require a high-quality cabling system that connects all electrical components with minimal energy loss. The significant growth of solar panels in India is creating a considerable demand for solar cables. According to industry standards, a 1 MW solar project will use about 50 km of solar cable. Considering the Indian government’s target of 100 GW of installed solar capacity by 2022, India’s solar cable requirement alone is more than 5 million kilometers.

Key Growth Factors of the Indian Wires & Cables Industry

1. Infrastructure Development: Large-scale investments in highways, metro rail, airports, industrial corridors, and power infrastructure are driving demand for power, control, and communication cables. 

2. Urbanisation, Real Estate, and Rural Electrification: Rapid urban development, expanding residential and commercial construction, and increasing electrification of rural areas are boosting demand for electrical wires and cables. 

3. Expansion of the Power and Renewable Energy Sectors: Rising investments in power generation, transmission, distribution, and renewable energy projects such as solar and wind are increasing the need for specialised cable solutions. 

4. Growth of the Telecommunications and Digital Infrastructure: The rollout of 5G networks, expansion of fibre optic connectivity, and increasing investments in data centres are driving demand for high-speed communication cables.

5. Rising Adoption of Electric Vehicles (EVs): Growth in electric mobility and charging infrastructure is creating additional demand for battery cables, charging cables, and specialised automotive wiring. 

6. Supportive Government Policies: Initiatives such as Make in India, Digital India, Smart Cities Mission, the Production Linked Incentive (PLI) Scheme, and rural electrification programmes are encouraging domestic manufacturing and increasing cable demand. 

7. Technological Advancements: Adoption of advanced technologies such as XLPE insulation, Low Smoke Zero Halogen (LSZH) cables, high-conductivity copper and aluminium alloys, and shielded cables has improved product performance, safety, and efficiency. 

8. Industrialisation and Automation: Expansion of manufacturing activities and increasing adoption of industrial automation are driving demand for power, control, and instrumentation cables across industries. 

9. Growing Focus on Safety and Quality Standards: Rising emphasis on fire safety, energy efficiency, and compliance with Indian and international standards is increasing demand for high-quality, certified wires and cables. 

10. Strong Economic Growth: India’s expanding economy and rising investments across infrastructure, construction, manufacturing, telecom, and electrical equipment sectors continue to support long-term growth of the wires and cables industry.

The above report has been extraced from Finolex Cables annual report for FY 25-26
 

Published at : Oct 16, 2026 04:37 PM (IST)

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