Rajesh Lohiya
BU Head – Wires, Cables and Tapes, PEWIN, Panasonic Life Solutions India
How is the wires & cables market evolving in the country? What are the key demand drivers?
The wires & cables market in India is evolving rapidly. The market has been expanding significantly, with projections indicating a continued robust growth rate. By 2032, the market size is expected to reach around Rs 3,655.81 billion, growing at a CAGR of 14.5% from 2024. The market comprises various segments, including power cables, building wires, flexible wires, and cables, EHV cables, and control/instrumentation cables and communication cable.
Key demand drivers of wire & cables market in India are infrastructure development, real estate growth, industrialization, renewable energy and telecommunications.
Major infrastructure projects, such as metro railways and smart grids, are fuelling demand for high-quality cables. The booming real estate sector, especially in affordable housing, is leading to higher demand for low voltage insulated wires and cables. The rise of industrialization and the establishment of data centres are also contributing to market growth. Investments in renewable energy sources like solar and wind power are increasing the need for specialized cables. The expansion of the telecommunications sector, particularly with the rollout of 5G networks, is driving demand for advanced communication cables
These factors collectively indicate a strong and dynamic future for the wires and cables market in India.
What are the innovations happening in wires & cables? What is trending now?
The wires & cables industry in India is witnessing several exciting innovation trends in products. Some of the key developments are fire-resistant cables, environment friendly cables, smart cables and high-performance materials.
There is a growing demand for fire-resistant and fire-survival cables, especially in critical infrastructure like hospitals, data centres, and high-rise buildings. Companies are focusing on sustainability by developing environment friendly cables. Integration of smart technology into cables, such as sensors for real-time monitoring of temperature and load, is becoming more common. Smart cables help in predictive maintenance and enhance safety. The use of advanced materials to improve the durability and efficiency of cables is on the rise. This includes materials that offer better resistance to heat, chemicals, and mechanical stress.
Other industry trends are Industry 4.0, Electric Vehicles (EVs), Renewable Energy, 5G and beyond. The adoption of Industry 4.0 technologies, including the Industrial Internet of Things (IIoT) and smart manufacturing, is transforming the production processes in the wires and cables industry. The rise of electric vehicles is driving the need for specialized cables for EV charging infrastructure. With the push towards renewable energy, there is an increasing demand for cables that can efficiently transmit power from solar and wind installations. The rollout of 5G networks and the anticipation of 6G are boosting the demand for high-speed data cables.
What are the new developments in wires & cables for housing and commercial segments applications?
The wires & cables market for housing and commercial segments in India is seeing several new developments and trends. These include fire-resistant and low-smoke cables, eco-friendly cables, hybrid cables and E-beam technology.
There is an increasing demand for fire-resistant and low-smoke cables in both residential and commercial buildings to enhance safety standards. Eco-friendly cables by using of eco-friendly materials in cable manufacturing is on the rise. This includes cables that are free from halogens and have reduced smoke emissions, contributing to a safer and more sustainable environment. Hybrid cables, which combine power, data, and even pneumatic and hydraulic hoses in a single sheath, is growing. These cables are particularly useful in commercial buildings where space-saving and multifunctionality are crucial. Companies are investing in irradiated electron beam (E-beam) processing to produce cables that can withstand higher temperatures and are more resistant to abrasion.
What are the key safety features in your range of wires & cables?
At Panasonic, we manufacture PVC insulated wire & cables as per IS 694. Our product is having safety mark from STQC (Standardization Testing & Quality Certification). Safety mark indicates robustness of withstood electrical stress during use. Further we are also offering high insulation resistance (HIR) for all varieties to control the leakage current during use. Insulation resistance is crucial for safety and proper functioning of electrical equipment. High insulation resistance prevents electrical leakage and reduce the risk of electrical shock. It further ensures reliable performance and protects equipment.
For protection of electrical joints, we are offering PVC insulation tape. Our Super Guard and Fit Grip PVC insulation tape is having high insulation resistance, excellent ageing properties, moisture, and corrosion resistance to make it best for electrical joints.
In building wire category, we are offering Advance FR, EFFR, COPAPRO-FR, PENTA, fire guard wire and HFFR wire to cater requirement of different segment. In multicore cable we are offering flame resistance and FR-LSH outer sheath to cater requirement of different segment. Conductor material used is 99.97% pure ETP grade copper that offer excellent flow of current and best performance. Advance FR & Fire guard wire are having very good flame-retardant properties. EFFR, COPAPRO-FR & PENTA wire is having excellent flame resistance properties that helps to self-extinguish the flame after removing source of flame.
What are the changes visible in wires & cables with renewable energy sector evolving?
The evolution of the renewable energy sector in India is driving several significant changes in the wires and cables industry. Some of the key developments are high-performance cables, durability and longevity of product, specialized cables, eco-friendly material and grid integration.
There is an increasing demand for high-performance cables that can handle the specific requirements of renewable energy installations, such as higher voltage and temperature resistance. Cables used in renewable energy projects, like solar and wind farms, need to be highly durable and have a longer lifespan to withstand harsh environmental conditions. The development of specialized cables for renewable energy applications, such as solar cables and wind turbine cables, is on the rise. These cables are designed to optimize the efficiency and reliability of energy transmission. There is a growing emphasis on using eco-friendly materials in cable manufacturing to align with the sustainability goals of the renewable energy sector.
How do you view the future market demand for wires and cables? How are you prepared to meet the future demand?
The future market demand for wires and cables in India looks very promising. Driving factors are infrastructure development, renewable energy, telecommunications, real estate. Overall, the wires and cables market in India is set for substantial growth, driven by diverse and robust demand factors.
We are monitoring the demand in B2B and B2G segment of wires & cable. We are developing RoHS complied material for other ranges of wire and cable supplied by us. We are Implementing eco-friendly practices and producing cables that have a lower environmental impact. These strategies are essential for staying ahead in a rapidly evolving market and ensuring that the future demand for wire and cable.
