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Automotive Electric Cable Market Poised for 5.5% CAGR Growth due to Rising EV Demand, with Asia Pacific Leading Regional Growth - Forecasts from 2022 to 2030

06-04-2024 02:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Dataintelo

/ PR Agency: Dataintelo
Dataintelo

Dataintelo

The recently published report by Dataintelo reveals that the Global Automotive Electric Cable Market is poised to grow at a CAGR of 5.5% between 2022 and 2030. The pivotal factor driving this growth is the burgeoning demand for electric vehicles (EVs) and hybrid vehicles. PVC-type cables are anticipated to maintain market dominance throughout the forecast period. These cables owe their popularity to attributes like cost-effectiveness and ease of installation. Cross-linked type cables are estimated to register an accelerated growth rate, courtesy of their commendable high-temperature resistance and durability. In terms of regional expansion, the Asia Pacific is forecasted to be at the frontier of this fast-paced growth, swiftly followed by Europe and North America.

The surge in the automotive electric cable market is directly related to the rapid evolution in the realm of electric and hybrid vehicles. These types of vehicles rely heavily on electric cables for their operations, thereby driving the demand. PVC-type cables, known for their affordability and efficient installation process, are set to lead the market. Nevertheless, an emergence in preference for cross-linked type cables is expected, given their enhanced properties, casting a wider perspective on the future market dynamics.

The rapidly expanding automotive market in the Asia Pacific region, combined with a surge in adoption of EVs and hybrid vehicles, has steered this region to emerge as the fastest-growing in the global automotive electric cable market. Moreover, mature markets like Europe and North America are also estimated to significantly contribute to the market growth, presenting an optimistic outlook for the global market over the forecast period

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/100002

๐“๐ก๐ข๐ฌ ๐ข๐ฌ ๐จ๐ง๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฆ๐จ๐ฌ๐ญ ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐š๐ง๐ ๐œ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐Ÿ๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐  ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ:

The automotive electric cable market has been segmented on the basis of๐“๐ฒ๐ฉ๐ž
โ— PVC Type
โ— Cross-Linked Type
โ— TPU Type

๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง
โ— Passenger Cars
โ— Commercial Vehicles
โ— Electric Vehicles

๐‚๐จ๐ฆ๐ฉ๐จ๐ง๐ž๐ง๐ญ
โ— Harness
โ— Connectors
โ— Terminals

๐•๐จ๐ฅ๐ญ๐š๐ ๐ž
โ— Low
โ— Medium
โ— High

๐’๐š๐ฅ๐ž๐ฌ ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ
โ— OEM
โ— Aftermarket

๐‘๐ž๐ ๐ข๐จ๐ง
โ— Asia Pacific
โ— North America
โ— Latin America
โ— Europe
โ— Middle East & Africa

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ
โ— Sumitomo Electric Industries (Japan)
โ— Yazaki (Japan)
โ— Aptiv (USA)
โ— Magneti Marelli (Italy)
โ— Hitachi Metals (Japan)
โ— Furukawa Electric (Japan)
โ— Leoni (Germany)
โ— Sumitomo Wiring Systems (Japan)
โ— ITT (USA)
โ— PKC Group (Finland)
โ— Gentherm (USA)
โ— A.E.C. (Italy)
โ— ACOME (France)



The Automotive Electric Cable market is divided into several segments based on type, application, component, voltage, and sales channel. These segments play a significant role in determining the industry's future trends, opportunities, and challenges. The types of automotive electric cables considered are PVC, Cross-Linked, and TPU type cables. Their application varies from passenger cars, commercial vehicles to electric vehicles. Vocabulary used to classify the market includes harness, connectors, and terminals. In terms of voltage, the market is divided into low, medium, and high, while the sales channels are categorized as OEM and aftermarket. Each segment is unique and has its own contribution to the overall market share. Knowledge and understanding of these segments can aid in formulating better business strategies and investment choices.

Regionally, the industry is broadly divided into Asia Pacific, North America, Latin America, Europe, Middle East, and Africa. The Asia Pacific region, due to its vast and growing automobile sector, houses a majority of the key players, thereby owning the largest market share. Japanese companies like Sumitomo Electric Industries, Yazaki, Hitachi Metals, Sumitomo Wiring Systems, and Furukawa Electric hold a significant place in the market. North America and Europe follow Asia in terms of market share with dominant companies like Aptiv (USA), ITT (USA), Gentherm (USA), Magneti Marelli (Italy), Leoni (Germany), A.E.C. (Italy), and PKC Group (Finland). Latin America, Middle East, and Africa, though having lesser shares, are emerging markets providing ample growth opportunities for automotive electric cable businesses. Thus, regional analysis provides insight into the market dynamics and the potential development of each region

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/100002

Market Drivers for Automotive Electric Cable Market:

1. Increasing Demand for Electric Vehicles: With the growing environmental concerns and government initiatives promoting eco-friendly transportation, the demand for electric vehicles is significantly rising. This directly impacts the demand for automotive electric cables, driving the market growth.

2. Technological Advancements: Advancements in automotive technology such as autonomous driving, connected cars, and advanced infotainment systems necessitate the use of high-quality electric cables, providing a robust driver for the market.

3. Safety Regulations: Stringent safety regulations regarding vehicular electrical systems also put forth a strong requirement for reliable and efficient electric cables in the automotive industry.

4. Lightweight Vehicle Trend: The shift towards production of lighter vehicles to reduce fuel consumption and emission has led to the adoption of more compact and lighter electric cables.

Opportunities for Automotive Electric Cable Market:

1. Expanding Electric Vehicle Production: The surging production of hybrid and electric vehicles worldwide presents a substantial opportunity for market players. These vehicles require an extensive range of electric cables, so their production expansion could greatly benefit the automotive electric cable market.

2. Emergence of e-Mobility: The emergence of e-mobility and the introduction of advanced technologies such as V2V and V2X communication will propel the need for high-speed and high-capacity electric cables.

3. Investment in Charging Infrastructure: Governments and private firms' investment in charging infrastructure development opens up new growth avenues for this market. This development will inevitably require a vast amount of electric cables.

4. Innovations and R&D: Continuous innovations and research in developing high-performance and lightweight automotive cables can provide lucrative growth opportunities for market players.

5. Expansion in Emerging Markets: Emerging economies, with growing automotive industries, present vast untapped opportunities for the market to expand. Factors such as increasing population, rising disposable income, urbanization, and industrialization in these regions are contributing to the growth of the automotive industry, and in turn, the automotive electric cable market

๐˜๐จ๐ฎ ๐œ๐š๐ง ๐๐ข๐ซ๐ž๐œ๐ญ๐ฅ๐ฒ ๐›๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐ซ๐จ๐ฆ: https://dataintelo.com/checkout/100002

Who should buy this report:

1. Data-driven organizations looking for in-depth industry insights.

2. Those who are involved in strategic planning at a corporate level.

3. Business professionals working in marketing, sales, product management, and other decision-making roles.

4. Investors who want to gain an understanding of a particular industry or market.

5. Business consultants looking for reliable research that they can provide to their clientele.

6. Researchers, academicians, and scholars who want a thorough exploration of current trends and future prospects within an industry.

7. Government agencies and other public institutions who want unbiased and comprehensive market analysis.

Good Things About Dataintelo:

1. Comprehensive Coverage: Dataintelo provides in-depth market research reports across various industries, giving you a broad spectrum of data to base your business decisions off of.

2. Reliable Data: The firm provides quality data gathered from authoritative sources, ensuring the reliability of their reports.

3. Expert Analysis: Dataintelo employs industry experts to analyze their data, meaning you receive insights grounded in experience and expertise.

4. Updated Reports: Markets change rapidly and Dataintelo updates its reports regularly to reflect these changes, ensuring you always have the most relevant data.

5. Customization: You can tailor Dataintelo's reports to your requirements, ensuring you only pay for the information you need.

6. User-friendly: The reports produced by Dataintelo are easy to comprehend, with clear and engaging visualization of data.



7. Customer Support: Dataintelo provides excellent customer support, helping you understand and utilize the reports to their fullest extent.

8. Affordable Prices: Dataintelo offers a diverse pricing structure to cater to businesses of all sizes, making it cost-effective

Contact Us :
Dataintelo
Name - Alex Mathews
Phone No.: +1 909 414 1393
Email - sales@dataintelo.com
Website - https://dataintelo.com
Address - 500 East E Street, Ontario, CA 91764, United States.

๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐œ๐š๐ง ๐›๐ž ๐œ๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐š๐ฌ ๐ฉ๐ž๐ซ ๐ฒ๐จ๐ฎ๐ซ ๐ง๐ž๐ž๐.

๐„๐ฆ๐š๐ข๐ฅ ๐ฎ๐ฌ ๐จ๐ง - ๐ฌ๐š๐ฅ๐ž๐ฌ@๐๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ.๐œ๐จ๐ฆ

๐€๐›๐จ๐ฎ๐ญ ๐ƒ๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ:

๐ƒ๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ boasts extensive experience in creating tailored Market research reports across diverse industry verticals. With in-depth Market analysis, creative business strategies for new entrants, and insights into the current Market scenario, our reports undergo intensive primary and secondary research, interviews, and consumer surveys.

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