Automotive Wire and Cable Materials Market to Witness an Outstanding Growth by 2031

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐢𝐫𝐞 𝐚𝐧𝐝 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏

The global automotive wire and cable materials market was valued at US$ 1.9 Bn in 2021
It is estimated to grow at a CAGR of 5.3% from 2022 to 2031
The global automotive wire and cable materials market is expected to reach value of US$ 3.2 Bn by the end of 2031

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 -https://www.transparencymarketresearch.com/automotive-wire-cable-materials.html

𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐟 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐢𝐫𝐞 𝐚𝐧𝐝 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Automotive is a rapidly evolving industry, with new in-vehicle and technological advancements. Furthermore, increasing safety requirements and voluntary environmental commitments by the automotive industry have also contributed to these changes. In the automotive sector, presently, high temperature automotive wire and cables are essential components. Heat-resistant automotive wire and cables are used virtually in all applications in a vehicle. Engine, transmission, braking, lights, air conditioners, seat heaters and various dashboard applications such as speedometer and fuel meter, all require wires and cables for functionality. Cables are generally considered to be a collection of individually insulated wires in a twisted form, jacketed together.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐭𝐨 𝐃𝐫𝐢𝐯𝐞 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐢𝐫𝐞 𝐚𝐧𝐝 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Several countries have proposed to ban the future sales of passenger vehicles powered by fossil fuels in order to meet national climate targets under international agreements such as the Kyoto Accord and the Paris Agreement, to gain energy independence and reduce health risks due to local emissions. Therefore, the sale of hybrid electric vehicles (HEV) is expected to increase in the near future.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1283

The growing adoption of electric vehicles is expected to drive the demand for high temperature automotive wire and cable materials, as far more electronic components are used in EVs than in conventional automotive. Electric vehicles (EVs) rely heavily on wire and cable systems, as the electronics landscape for electric vehicles continues to change, and this dependence has grown as a result of technological developments in the automotive industry. Therefore, with different specifications of wire and process, the demand for automotive wire and cable materials is estimated to increase in the hybrid EV and EV segments.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐔𝐬𝐚𝐠𝐞 𝐨𝐟 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐝 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬 𝐢𝐧 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐭𝐨 𝐏𝐫𝐨𝐩𝐞𝐥 𝐖𝐢𝐫𝐞 𝐚𝐧𝐝 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Technological advancements have always been a part of the automotive industry, ever since automotive first entered the mainstream market of the world. The impact of technology on the development of automotive has been immense. The integration of technological advancements makes cars safer, user-friendly, and enables the introduction of several features that improve their value and usefulness for automotive owners.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1283

The growth of digital technology is making it possible for automotive to implement autonomous driving and accident prevention. Machine learning and predictive technology have had a significant impact on the predictive capabilities of vehicles in the automotive industry. The use of augmented reality dashboard has enabled the windshield to be used as a screen to display information to the user. The use of tiny cameras all over the vehicle allows the driver to check for unsighted objects that may be usually difficult to spot from the driving seat. Tire pressure sensors, lane change sensors, and collision control sensors prevent accidents. The inclusion of anti-lock braking system and traction control are also enabling drivers to remain in control of their vehicle while driving. Therefore, all these features and technology advancements create significant demand for automotive wire and cables, which in turn is driving the demand for automotive wire and cable materials.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐢𝐫𝐞 𝐚𝐧𝐝 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

In terms of value, the global automotive wire and cable materials market was dominated by Asia Pacific, accounting for 60.7% share of the global market, in terms of volume, in 2021. The region's market share is anticipated to rise at a rapid pace during the forecast period, owing to a rise in the demand for premium cars and advanced features in vehicles.

In terms of volume, North America and Europe cumulatively accounted for 30.4% share of the global automotive wire and cable materials in 2021.

𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐢𝐫𝐞 𝐚𝐧𝐝 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

The global automotive wire and cable materials market is fragmented, with a large number of small- and medium-scale vendors controlling majority of the share. Several firms are investing substantially in comprehensive research and development activities, primarily to develop environment-friendly products. Diversification of product portfolios and mergers & acquisitions are prominent strategies adopted by key players. Leading producers of automotive wire and cable materials across the globe include Leoni AG, Yazaki Group, Coficab Tunisie SA, and Lear Corporation.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1283

Each of these players has been profiled in the automotive wire and cable materials market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
Transparency Market Research Inc.
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