Blockchain Press Releases
Wire and Cable Market Expected to Reach $323.8 Billion, Globally, By 2032 at 4.6% CAGR: Allied Market Research
The global wire and cable market is driven by factors such as a surge in demand for investments in the industrial sector, a rise in urbanization, increased investments in the transmission and distribution of electric power.
PORTLAND, Ore., July 13, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Wire and Cable Market By Installation Type (Overhead, Submarine, and Underground), Voltage (High, Medium, and Low), Vertical (Energy and Power, Aerospace and Defense, IT and Telecommunication, Industrial, Oil and Gas, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global wire and cable was valued at $213.6 billion in 2022, and is projected to reach $323.8 billion by 2032, registering a CAGR of 4.6% from 2023 to 2032.
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Prime Determinants of Growth:
The global wire and cable market is driven by factors such as a surge in demand for investments in the industrial sector, a rise in urbanization, increased investments in the transmission and distribution of electric power which fuels the demand for cables. However, complex fault detection and removal processes hamper market growth to a certain extent. Moreover, favorable renewable energy policies provided by the governments of key countries provide lucrative opportunities for market growth.
Report Coverage and Details:
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$213.6 Billion |
|
Market Size in 2032 |
$323.8 Billion |
|
CAGR |
4.6 % |
|
No. of Pages in Report |
274 |
|
Segments Covered |
Installation Type, Voltage, Vertical, and Region |
|
Drivers |
Surge in demand for investments in the industrial sector and rise in urbanization to drive the market growth |
|
Increased investments in transmission and distribution of electric power fuels the demand for wires and cables |
|
|
Opportunities |
Favorable renewable energy policies provided by the governments of key countries |
|
Restraints |
Complex fault detection and removal process of errors restricting the market growth |
COVID-19 Scenario:
- The COVID-19 pandemic had a significant impact on the global wire and cable market. due to the changed dynamics of the supply chain, raised demand for e-commerce packaging, and brought attention to health and safety precautions, all of which influenced the wire and cable market.
- Many businesses had to swiftly adjust to the growth in e-commerce by developing packaging that could endure the rigors of shipping and handling.
- The pandemic had intensified attention on sustainable magneto resistive element solutions as people looked for eco-friendly choices.
The overhead segment to maintain its leadership status throughout the forecast period
By installation type, the overhead segment held the highest market share in 2022, accounting for nearly three-fifths of the global wire and cable market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the rapid urbanization and industrialization in the developing countries, including India and China, which drives the growth of this market, primarily fostering the growth of the overhead segment. The submarine segment is projected to manifest the highest CAGR of 5.85% from 2023 to 2032. The major factors fueling the growth of the segment include expanding offshore wind power capacity, growing demand for bandwidth due to the emergence of 5G, and an increasing network of submarine cable systems.
The low segment to maintain its lead position throughout the forecast period
By voltage, the low segment held the highest market share in 2022, accounting for more than two-fifths of the global wire and cable market and is estimated to maintain its lead position throughout the forecast period. The increasing need for grid interconnections is resulting in rising investments in the new submarine and underground low voltage wire and cable market. However, the high segment is projected to manifest the highest CAGR of 5.58% from 2023 to 2032. The growth is attributed to the growing offshore wind farms, high voltage direct current links, and grid interconnections. Increasing need for grid interconnections is resulting in rising investments in the new submarine and underground high voltage wires and cables market.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in 2022, accounting for nearly half of the global wire and cable market revenue, and is expected to maintain its dominance in terms of revenue during the forecast period. The booming e-commerce and logistics industries in the Asia-Pacific region have fueled the demand for wires and cables. also due to the increase in domestic automotive demand in the emerging markets of India and China. However, the Europe region is expected to witness the fastest CAGR of 5.91% from 2023 to 2032. Growth in the automotive and consumer electronics sectors fosters several growth opportunities for wire and cable vendors in Europe.
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Leading Market Players:
- Nexans S.A.
- Prysmian Group
- Furukawa Electric Co., Ltd
- Belden Inc.
- Sumitomo Electric Industries
- Leoni AG
- Fujikura
- LS Cable & System Asia Ltd
- KEI Industries Ltd
- Amphenol Corporation
The report provides a detailed analysis of these key players in the global wire and cable market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This study comprises analytical depiction of the global wire and cable market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall global wire and cable market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global wire and cable instruments market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the wire and cable.
- The report includes the market share of key vendors and global wire and cable market trends.
Wire and Cable Market Key Segments:
By Installation Type:
- Overhead
- Submarine
- Underground
By Voltage:
- High
- Medium
- Low
By Vertical:
- Energy and Power
- Aerospace and Defense
- IT and Telecommunication
- Industrial
- Oil and Gas
- Others
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Blockchain Press Releases
Bybit’s CEO Meets with Vietnam’s Minister of Finance to Support Regulatory Sandbox and Strengthen Crypto Compliance
DUBAI, UAE, April 19, 2025 /PRNewswire/ — Ben Zhou, Co-founder and CEO of Bybit, one of the world’s second-largest cryptocurrency exchanges by trading volume, met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to express Bybit’s strong support for the country’s regulatory sandbox initiative and its vision to build a safe, transparent, and innovation-friendly digital asset ecosystem.
Hosted at the Ministry of Finance headquarters, the meeting centered on Vietnam’s efforts to establish a comprehensive legal framework for crypto assets. Minister Nguyen Van Thang outlined the Government’s plan to launch a pilot sandbox mechanism that will allow regulators to test the issuance and trading of crypto assets in a controlled environment. This initiative is designed to mitigate risks, strengthen investor protection, and ensure regulatory readiness before introducing official legislation.
A key part of the discussion focused on safeguarding the market against illicit activities. The Minister emphasized the importance of robust compliance frameworks, including Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, to prevent the misuse of digital assets and support the country’s financial security.
In response, Ben Zhou welcomed Vietnam’s measured and responsible approach to digital asset regulation and reiterated Bybit’s long-standing commitment to compliance:
“Vietnam’s forward-thinking regulatory sandbox is a critical step toward unlocking the full potential of blockchain technology. At Bybit, we are fully aligned with the Government’s focus on investor protection and financial integrity,” said Ben Zhou, Co-founder and CEO of Bybit. “We are proud to share our expertise in KYC, AML, and global compliance standards, and we look forward to supporting Vietnam in building a resilient, secure, and dynamic crypto economy.”
Bybit expressed its readiness to collaborate with Vietnamese authorities on several fronts, including system architecture design, transaction oversight, and the implementation of international best practices in AML/KYC. The exchange also proposed support in capacity building, such as training financial regulators and sharing experiences from other jurisdictions.
Minister Nguyen Van Thang welcomed Bybit’s proactive approach and assigned the State Securities Commission to coordinate with Bybit on concrete proposals. He also commended Bybit’s reputation for strong financial capabilities, technological resilience, and its adherence to legal and regulatory requirements in the markets where it operates.
This meeting underscores Bybit’s growing role as a trusted international partner for regulatory dialogue and innovation. It also highlights Vietnam’s readiness to embrace blockchain technology while ensuring financial safety and public confidence in the digital asset space.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, April 18, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is making waves with its latest trading showdown: Crypto Surf: Ride the Waves with Trailing Stops. This high-octane competition invites traders to rally behind either copy trading or trading bots, battling it out for their share of a prize pool worth up to $250,000 in USDT.
Running from April 18 to May 19, 2025, at 12 a.m. UTC, the event introduces a squad-based structure where users choose their camp, trade strategically, and compete across PnL, ROI and trading volume leaderboards. With a dynamic reward structure, participants can also win by predicting which squad will come out on top.
Prize Pool Distribution Highlights:
- 40% to the champion squad
- 30% to the runner-up
- 25% to the top 100 individual traders by volume
- 5% to users who correctly predict the winning squad
The event brings together the best of both worlds: the strategic finesse of copy trading and the automated power of trading bots. It celebrates innovation, user choice, and the thrill of crypto trading.
Participants must hold a minimum wallet balance of $1,000 in USDT, generate at least $10,000 in squad volume, and complete identity verification Level 1 to qualify. Users can only register for one squad and vote once to predict the winner. Rewards will be distributed within 14 business days of the event’s completion.
The total prize pool will scale in line with event volume milestones, starting at $1.2 billion and unlocking up to $2 billion in traded volume for the full $250,000 in USDT.
Bybit continues to redefine the competitive trading landscape – bringing fun, strategy and serious rewards to its global community.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Tomorrowland Brasil 2025 General Sale in Full Swing — Exclusive Cashback for Bybit Cardholders
DUBAI, UAE, April 18, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, highlights that general ticket sales for Tomorrowland Brasil 2025 are currently ongoing, with exclusive benefit available to Bybit Card and Bybit Pay eligible users such as 20% cashback.
The Bybit Card is designed for global use and supports both fiat currencies—ARS, BRL, EUR, USD—and a wide selection of cryptocurrencies. Integrated with Apple Pay, Google Pay, and Samsung Pay, it offers users up to 10% cashback on everyday purchases, 8% APR through Auto-Savings, free worldwide delivery, and $100 in monthly ATM withdrawals at no cost—without any annual fees.
Returning to the vibrant setting of Parque Maeda in Itu, São Paulo, Tomorrowland Brasil 2025 will take place from October 12 to 14, promising three days of music, imagination, and cultural exchange. Famed for its theatrical stages, global audience, and meticulously curated lineup, Tomorrowland is more than a festival—it’s a world of its own. With each edition, it transforms into a breathtaking playground of light, sound, and storytelling, drawing music lovers from over 100 countries to celebrate unity through electronic music.
This year’s Brazilian edition will feature performances from some of the world’s most sought-after artists, including David Guetta, Armin van Buuren, Vintage Culture, Mind Against, Steve Aoki, James Hype, Alesso, Nervo, and I Hate Models. Special acts include Alok’s “Something Else” concept, ANNA b2b Vintage Culture, and a powerful b2b set from Matisse & Sadko and Third Party. With more names still to be revealed, the event is shaping up to be one of the strongest editions yet.
“Tomorrowland Brasil is one of those rare experiences that transcends music—it creates lasting memories and connects people from every walk of life,” said Joan Han, Head of Payment business unit at Bybit. “We’re proud to support this global celebration by offering our users exclusive benefits that make it easier to be part of something truly unforgettable.”
Tomorrowland Brasil continues to be a beacon of creativity, community, and connection, standing at the intersection of music, technology, and art.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
About TOMORROWLAND BRASIL
Tomorrowland Brasil 2025 will take place on October 10-12 in the beautiful festival area of Parque Maeda in Itu, a municipality in São Paulo. The festival will revolve around the mesmerizing ‘LIFE’ theme, set against the backdrop of Brazil’s enchanting natural beauty. A story set in the mythical realm of Silvyra, it’s a world unto its own, filled with creatures, plant life, and people living in harmony, each with their own stories, with the diversity of Silvyra’s lush nature represented in the spectacular ‘LIFE’ Mainstage. Offering the ultimate escape from the city during three days of bliss, guests will be treated to breathtaking performances by more than 150 of the world’s finest electronic artists across 6 mesmerizing stages.
The first two festival editions of Tomorrowland Brasil took place in 2015 and 2016 in the beautiful festival area of Parque Maeda in Itu, São Paulo. After years of dreaming of a return, Tomorrowland finally headed back to Brazil in 2023, becoming a yearly highlight once again.
Tomorrowland Brasil 2025
October 10-12, 2025
Parque Maeda, Itu
brasil.tomorrowland.com
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