The UK electronic and electric wires market volume experienced significant fluctuations over the past decade. Starting at 361.05 million kilograms in 2013, the market saw an 18.61% increase in 2014 before declining by 1.08% in 2015. Post 2017, there was a notable drop of 23.79%. The market somewhat recovered with slight growth in 2018 and 2019, but faced a sharp decline of 19.18% in 2020. Recovery was on track with a 20.13% increase in 2021, followed by relatively stable figures in 2022 and 2023, which stood at 359.16 million kilograms. The market is projected to maintain a marginally declining trend towards 2028 with an annual decrease of 0.24%, culminating in a total reduction of 1.18% over five years.
Future trends to watch for:
- Technological advances in wire materials and production methods.
- Increasing demand for renewable energy infrastructure.
- Impact of regulatory changes and sustainability initiatives.
- Economic factors influencing construction and manufacturing sectors.