Cable Market for Automotive - Overview
A cable contains two or more insulated wires packed in one jacket. Generally, cables are denoted or marked with letters and numbers to identify cables number and insulation types. A modern vehicle contains numerous electronic applications that provide better driving experience along with fuel efficiency and safety features. In an electric car, nearly 70 kg of wiring is present to due to an increase in the adoption of new technologies, such as parking sensors, lighting, Bluetooth, and navigation. Various types of automotive cables, such as round sheathed cables, flat sheathed cables, and hybrid sheathed cables, are used in automotive applications depending on the requirement and functions these types.
Cable Market for Automotive - Drivers and Restraints
Increase in demand for efficiency and lower energy consumption in modern vehicles along with compact design is likely to raise the temperature in the engine compartment. Automotive cables not only withstand high temperatures in the engine compartment but also offer resistance against fuels, battery acid, and cleaning agents. Consequently, the demand for automotive cables is likely to increase during the forecast period. New challenge of distribution of electrical energy in electric and hybrid vehicle is likely to offer significant business opportunities for the automotive cable in the near future. Rise in consumption of electric vehicles due to stringent emission norms and green transportation initiatives by regulatory bodies is likely to boost the demand for electric vehicles during the forecast period. This, in turn, is anticipated to propel the cable market for automotive during the forecast period.
Cable Market for Automotive - Segmentation
The cable market for automotive can be segmented based on application, cable type, vehicle type, and region. Based on application, the cable market for automotive can be classified into engine compartment and gear box, ABS system, battery, and others. Numerous sensors are used in the engine compartment and gear box in order to enhance the efficiency of the vehicle and for the ease of shifting of gears. Operating temperature in the engine compartment is higher as compare to that in the other compartments. High quality cable is required in order to supply voltage, transmit data, and comply with stringent requirements. Rising adoption of electric components in the engine and gear box compartment is projected to boost the demand for automotive cable during the forecast period.
Based on cables type, the market can be bifurcated into single core and multi core. Multi-core cables are widely utilized in the automotive industry and all types of road vehicles, as these cables require high voltage carrying capacity in order to power the electric instruments and the engine. Moreover, high resistance to mineral oil, fuels, and engine liquids is anticipated to propel the demand for multi-core cables during the forecast period.
In terms of vehicle type, the cable market for automotive can be segregated into passenger vehicle, electric vehicle, and commercial vehicle. Large consumption of electrical components and adoption of new technologies in electric vehicles are estimated to boost the demand for automotive cables during the forecast period.
In terms of region, the cable market for automotive can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The presence of several large automotive hubs in Asia Pacific and high production of passenger vehicles coupled with rise in adoption of electric vehicles due to stringent emission norms in the region are anticipated to drive the cable market for automotive in the region during the forecast period.
Cable Market for Automotive - Key Players
Key players operating in the cable market for automotive are Coroplast Fritz Müller GmbH & Co. KG, LEONI AG, General Cable Technologies Corporation, SALCAVI S.p.A., and HUBER+SUHNER.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.