India Wires and Cables Market Size to Reach USD 17.08 Billion by 2032 | CAGR 7.94%

India Wires and Cables Market Size to Reach USD 17.08 Billion by 2032, Supported by Renewable Energy Expansion and Smart Grid Investments

PUNE, MAHARASHTRA, INDIA, January 30, 2026 /EINPresswire.com/ -- The India wires and cables market was valued at USD 9.32 billion in 2024 and 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. Market growth is primarily driven by increasing investments in renewable energy projects, rapid urbanization, expansion of power transmission and distribution networks, and rising demand from construction and industrial sectors.

India has witnessed a significant rise in demand for wires and cables due to ambitious renewable energy targets and growing adoption of solar and wind power. Solar power plants require high-quality cabling systems to connect electrical components while minimizing energy loss. According to industry standards, a 1 MW solar project requires nearly 50 km of solar cable. Considering the Indian government’s target of 100 GW of installed solar capacity, the cumulative solar cable requirement alone exceeds 5 million kilometers, creating strong long-term demand for specialized solar cables.

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India Wires and Cables Market Overview
The COVID-19 pandemic moderately impacted the India wires and cables market by disrupting supply chains and reducing demand across several end-use industries. However, as economic activity normalized, the market rebounded steadily. Ongoing infrastructure development projects, increased investments in 5G networks, and the expansion of renewable energy installations are expected to sustain demand for wires and cables over the forecast period.

India Wires and Cables Market Takeaways
The market continues to expand due to rising electricity consumption, modernization of power infrastructure, and increasing penetration of digital technologies. Growing adoption of renewable energy and smart grid systems is further strengthening long-term demand for advanced wiring solutions.

India Wires and Cables Market Trends
Growing Need for Transmission of Data at Increasingly Faster Speed

Rapid digitalization across industries has accelerated advancements in cable and connection technologies. Increasing data volumes require faster and more reliable transmission, driving the adoption of specialty cable designs with thermal insulation and compact engineering. Hybrid cables that combine power, data, pneumatic, and hydraulic lines in a single sheath are gaining traction.

High-speed Cat.7 industrial Ethernet cables are increasingly replacing slower alternatives, while fiberglass cables are gradually substituting copper cables in high-data applications. Connector systems are also evolving, with modular designs integrating multiple contact points in a single housing to support diverse cable types.

India Wires and Cables Market Growth Factors
Increasing Investments in Smart Grid Projects and Power T&D Upgradation to Drive Market Growth

Energy storage and smart grid infrastructure are critical for integrating renewable energy into India’s power system. Smart grid technologies enable energy arbitrage, seasonal storage, smart metering, energy accounting, and renewable energy outage management. India considers smart grids a strategic investment to support economic growth and achieve carbon reduction targets.

The government’s Revamped Distribution Sector Scheme (RDSS), with an outlay of USD 3.03 trillion from 2021–22 to 2025–26, aims to modernize distribution infrastructure and improve the quality, reliability, and affordability of power supply. This initiative is significantly boosting demand for wires and cables across power distribution networks.

Restraining Factors
Fluctuation in Raw Material Prices May Hinder Market Growth

The India wires and cables market is highly dependent on raw materials such as copper, aluminum, steel, and PVC. Conductive materials account for nearly 40–60% of total cable raw material costs, while polymers such as PVC and polyethylene contribute significantly to pricing volatility. Stagnant domestic metal supply, restrictions on bauxite mining, and environmental concerns at copper and aluminum refineries are negatively impacting raw material availability, posing challenges to market growth.

India Wires and Cables Market Segmentation Analysis
By Voltage

Low-voltage cables dominated the Indian market in 2023 due to widespread application across residential, commercial, and infrastructure projects. Rapid urbanization and construction of housing, office spaces, and commercial facilities are driving demand for low-voltage wiring used in lighting, HVAC systems, and power distribution.

By End-User

The construction segment emerged as the largest consumer of wires and cables in 2023, supported by expanding residential and commercial development. India’s construction sector continues to grow at double-digit rates, requiring extensive cabling for power, control systems, and renewable energy installations such as solar and wind farms.

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Key Industry Players
Major Players Are Focusing on Advanced Wire Technologies to Support Green Energy Solutions

Market participants are increasingly investing in advanced wire technologies to support renewable energy integration and infrastructure development. The focus on sustainability, safety, and high-performance cabling has enabled manufacturers to improve product efficiency and expand volume shipments.

List of Top India Wires and Cables Companies

Polycab (India)
RR Kabel Ltd. (India)
Finolex Cables Inc. (India)
Havells India Ltd. (India)
KEI Industries Ltd. (India)
Tortek India Private Ltd. (India)
Plaza Cables Electric Private Limited (India)
Universal Cables Ltd. (India)
V-Guard Industries Ltd. (India)
Gupta Power Infrastructure Ltd. (India)

Key Industry Developments
November 2023: UKB Electronics received approval from the Directorate General of Quality Assurance for supplying specialized wires, cables, and wiring harnesses for army tanks and armored vehicles.

November 2023: Ultracab secured an order worth USD 5.70 million from Sterling & Wilson.

September 2023: Polycab India launched a new brand identity aligned with innovation, safety, and sustainability, leading to a 2.38% rise in company shares.

September 2023: RR Kabel announced plans to raise USD 236 million through an IPO.

April 2023: Finolex Cables announced capacity expansion at its Pune, Goa, and Roorkee facilities and expanded its product portfolio across telecom, solar, automotive, and FMEG segments.

Report Coverage
The report offers a comprehensive analysis of the India wires and cables market, covering technological advancements, pricing trends, installation scenarios, replacement cycles, new product launches, and key industry developments. It also highlights market trends and key growth dynamics influencing the industry’s expansion.

Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
email us here

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