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Global Automotive Data Cables Market 2024 : Trends, Business Growth And Major Driving Factors | Sumitomo Electric Industries Ltd,Prysmian Group, BorgWarner Inc., Furukawa Electric Co Ltd
Automotive Data Cables Global Market Report 2024
Automotive Data Cables Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $12.23 billion In 2028 At A CAGR Of 10.9%.
The automotive data cables market size has grown rapidly in recent years. It will grow from $7.22 billion in 2023 to $8.1 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to introduction of advanced automotive systems, transition to electric and hybrid vehicles, growing demand for in-vehicle connectivity, regulatory standards for vehicle safety, adoption of advanced communication protocols.
The automotive data cables market size is expected to see rapid growth in the next few years. It will grow to $12.23 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to integration of augmented reality (ar) in vehicles, demand for flexible and robust designs, emphasis on vehicle-to-everything (v2x) communication, expansion of advanced driver assistance systems (adas), development of 5g connectivity in vehicles. Major trends in the forecast period include high-speed and high-bandwidth data cables, next-generation data cables for ai integration, flexible and versatile data cables, modular and scalable cable solutions, smart data cables with self-diagnostics.
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Automotive Data Cables Market Major Segments
The automotive data cables market covered in this report is segmented -
1) By Cable: Controller Area Network (CAN), Low Voltage Differential Signaling (LVDS) Or High Speed Data (HSD), FlexRay, Ethernet, Controller Area Network Flexible Data-Rate (CAN-FD), Coaxial Cables
2) By Vehicle: Passenger Vehicles, Commercial Vehicles
3) By Application: Safety And Advanced Driver-Assistance Systems (ADAS), Body Control And Comfort, Infotainment And Communication, Powertrain
Key Driver - The Surge In Electric And Hybrid Vehicles Driving The Automotive Data Cable Market Growth
The increasing adoption of electric and hybrid vehicles is expected to propel the growth of the automotive data cable market going forward. Electric vehicles are described as vehicles that have an electric motor capable of drawing power from a battery and have an external source for charging. A hybrid vehicle has a battery-powered internal combustion engine and one or more electric motors providing the power. Electric and hybrid automobiles frequently feature vehicle-to-vehicle communication, telematics, in-car entertainment systems, and other advanced connectivity features. These systems depend on the reliable and effective data transfer of automotive data cables. For instance, in March 2022, according to the Department of Energy, a US-based government agency, sales of new light-duty hybrid electric vehicles, including all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), increased from 308,000 in 2020 to 608,000 in 2021. Further, plug-in hybrid electric vehicle sales increased by 138% over 2020, and electric vehicle sales increased by 85% between 2020 and 2021. Therefore, the adoption of electric and hybrid vehicles is driving the growth of the automotive data cable market.
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Prominent Trend - Innovative Product Offerings Driving Growth In The Automotive Data Cable Market
Product innovation is a key trend gaining popularity in the automotive data cable market. Major companies operating in the automotive data cable market are developing innovative products to sustain their position in the market. For instance, in June 2022, Japan Aviation Electronics Industry Ltd., a Japan-based electrical company, launched the MX74 Series, a high-quality, fast-performing connector that complies with the automotive Ethernet standard IEEE 100BASE-T1. This product helps make vehicle bodies lighter by working with unshielded twisted pair (UTP) wires. The MX74 Series is offered as a separate connector for the socket side.
Automotive Data Cables Market Players
Major companies operating in the automotive data cables market report are Sumitomo Electric Industries Ltd,Prysmian Group, BorgWarner Inc., Furukawa Electric Co Ltd., Belden Inc., Gebauer And Griller, HUBER+SUHNER, COFICAB Group, ACOME Group, Axon Cable, UKB Electronics, Rosendahl Nextrome, Guangzhou ZhuJiang Cable Co. Ltd., Zhaolong Interconnect, Condumex S.A. de C.V., Champlain Cable Corporation, Sikora, Coroplast Fritz Müller GmbH & Co. KG, Waytek wire, Caledonian Cable, General Cable Technologies Corporation, KBE Elektrotechnik GmbH, LEONI AG, ITC Thermo Cable GmbH, Automotive Interconnect Solutions, Flexon Cables, Siechem, RR Kabel.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive data cables market in 2023. The regions covered in the automotive data cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Data Cables Market Report Structure
3. Automotive Data Cables Market Trends And Strategies
4. Automotive Data Cables Market - Macro Economic Scenario
5. Automotive Data Cables Market Size And Growth
…..
27. Automotive Data Cables Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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