The Global Automotive Cables Market was valued at USD 2.34 Billion in the year 2021. The automotive wire and cable materials market's major players now have new opportunities as a result of the transformation of the automotive industry as a result of advancements in manufacturing and management systems. The market is expected to grow in the upcoming years against the backdrop of major technological advancements in dashboard applications, air conditioners, seat warmers, lighting, brakes, and engines.
Based on the end users’ segment, the Passenger vehicle segment is expected to hold the largest share in Automotive Cables in the year 2028. The main factors propelling the market expansion are the rise in demand for passenger cars brought on by the surge in the population of middle-income groups and the rising standard of living in emerging nations. The availability of affordable options in these vehicles is another factor influencing consumer preference for them which will eventually lead towards the healthy growth of the automotive cable market in near future.
APAC region is estimated to hold the maximum share in the global Automotive Cables followed by Europe and the Americas. Also, the Asia Pacific is expected to witness the fastest growth rate during the forecast period due to the presence of most populated countries such as China and India holding potential factors for the market to grow.
The expansion of the automotive cable market will be fueled by the automotive cables' improved performance as a result of technological advancement. Automotive wiring harnesses are built of sturdy materials that are also durable. These bundles are made to perform remarkably well in challenging environments and to carry large power loads. The wire harnesses combine multiple wires into rigid coils that are more stable than loose wires and less likely to cause electrical circuit shorts.
Scope of the Report
• The report presents the analysis of the Automotive Cables market for the historical period of 2018-2021 and the forecast period of 2023-2028.
• The report analyses the Automotive Cables Market by Value (USD Billion).
• The report analyses the Automotive Cables Market by End Users (Passenger Vehicle, Commercial Vehicle).
• The report analyses the Automotive Cables Market by Channel (OEM-Direct, Aftermarket-Indirect).
• The report analyses the Automotive Cables Market by Cable Type- (Transmission Cable, Brake Cable, Trailer Cable, Clutch Cable, Other Cables).
• The Global Automotive Cables Market has been analysed by countries (United States, Mexico, Brazil, Germany, France, Spain, China, Japan, India, South Korea).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Location and Product.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Suprajit Engineering Ltd., Minda Corporation, Grand Rapids Controls Company LLC, HI-LEX Corporation, Leoni AG, Thai steel cable public company ltd, Kongsberg Automotive, Dura Automotive Systems, Ficosa International, Lear Corporation).
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