Wires and cables sector sees strong growth

The Indian wires and cables (W&C) industry is likely to witness relatively higher growth over the next five years, driven by strong demand across key sectors and rising export opportunities, says a report by Ambit Capital.

- TBG NETWORK

The report mentioned that this comes after a decade of only mid-single-digit volume growth, mainly due to low real estate activity and reduced transmission and distribution (T&D) capital expenditure. It said "A peek at the end application of the wires and cables market indicates that 50 per cent of the demand for end wires and cables is driven by real estate and power (generation, distribution and transmission). End market growth here will be the key to demand growth ahead".

However, things are changing. The next five years are expected to see a positive shift, supported by three key factors, an increase in new real estate launches, rising investments in T&D infrastructure, and strong growth in renewable energy and emerging sectors like data centres.