Thailand Wires And Cables Market size is projected to grow at a CAGR of 7.4% during 2021-27

Building & Construction segment acquired the largest market revenue share in the Thailand wires and cables market in year 2020 – 6Wresearch

Thailand's wires and cables market witnessed a modest growth in 2017-2018, owing to increased demand for wires and cables on account of government initiatives such as the extension of power transmission lines, the installation of new power grids, and the replacement of overhead lines to underground lines. Furthermore, the country's deployment of 5G technology has raised demand for wires and cables. However, the market slowed in 2019 as a result of a disrupted supply chain caused by the trade war between the United States and China. and a subsequent decline in 2020 owing to the outburst of coronavirus as the government-imposed movement control as a step for nation-wide lockdown which led to the closure of all operations and disrupted the demand & supply chain of raw material. However, the market is expected to recover from 2021 onwards, due to the opening of international borders and the gradual restart of economic activities in the country. Further, the demand for wires and cables has increased on account of the country's increased industrialization under Thailand 4.0 policy and the rapid increase in construction activities in Thailand under Eastern Economic Corridor (EEC) projects such as airports, electrical power generation infrastructures, and telecommunications systems. Furthermore, the growth of the telecommunications industry, as well as the introduction of 5G technology, are expected to boost demand for wires and cables in the coming years.

According to 6Wresearch, Thailand Wires And Cables Market size is projected to grow at a CAGR of 7.4% during 2021-27.  Thailand wires and cables market is currently in the growing stage in the industry life cycle and government initiatives to develop the country’s infrastructure along with upgradation and expansion of power transmission networks in the country would propel the demand for the product. Furthermore, government aim to replace overhead and underground electricity lines would propel the wires and cables market.

According to Rishabh Singh Bhandari, Research Associate, 6Wresearch, “By voltage, the low voltage segment had the majority of market revenue share in 2020 on account of its cost effectiveness, easy & safe installation in difficult terrain. Additionally, its wide applicability in several sectors including telecommunication and manufacturing would lead to a high demand for low voltage wires and cables in the country in coming years.”

Some of the major companies in Thailand wires and cables include Thai-Yazaki Electric Wire Co., Ltd, Phelps Dodge International (Thailand) Co., Ltd. Charoong Thai Wire & Cable PLC., Thai Wonderful Wire Cable Co., Ltd., Erawan Wire & Cable Co.,Ltd., Venine Cable Electric Wire Company Limited, PAN-ASIA Cable Co., Ltd. , Senshu Electric International Co., Ltd., Prysmian Group.

“Thailand wires and cables market (2021-2027)” report provides an in-depth analysis with 18 figures and 06 tables, covered in 77 pages. The report estimates and forecast the overall Thailand wires and cables market by voltage, installation, products, and end users. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.