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Industrial Automation Cable Market Analysis With Key Players, Trends And Forecast To 2033
Industrial Automation Cable Market Analysis
As per the report, the industrial automation cable market size has grown strongly in recent years. It will grow from $7.54 billion in 2023 to $8.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The industrial automation cable market size is expected to see strong growth in the next few years. It will grow to $11.38 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
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Robotics' Impact On The Industrial Automation Cable Market
The increasing shift towards robotics is expected to propel the growth of the industrial automation cable market going forward. Robotics is an interdisciplinary topic that studies the design, construction, use, and analysis of autonomous or semi-autonomous robots that can mimic or enhance human actions. The use of robots is rising due to the rapid breakthroughs in robotics technology, which include advancements in artificial intelligence, control systems, actuators, and sensors. Industrial automation cables are integral components of robotic systems, enabling efficient power transmission, signal communication, data exchange, flexibility, and safety in industrial automation applications. For instance, according to the International Federation of Robotics (IFR), a Germany-based non-profit organization, global sales of industrial robots reached 384,000 units in 2021, an increase of 16% compared to the previous year. Therefore, the growing adoption of robotics drives the growth of the industrial automation cable market.
Innovations In Interconnect Assemblies By Major Companies In The Industrial Automation Cable Sector
Major companies operating in the industrial automation cable market are focused on developing innovative products, such as XtendedFlex 178, to increase their profitability in the market. XtendedFlex 178 is a high-flex coaxial cable designed for applications that demand constant cable motion and flexibility. For instance, in March 2023, Times Microwave Systems, a US-based manufacturer of innovative microwave interconnect assemblies and cables, announced the launch of the 'XtendedFlex 178' continuous flex coaxial cable. It is tailored for use with plastic cable drag chains. The XF-178 cable is precisely engineered to meet the demands of applications characterized by continuous movement and adaptability, notably in sectors such as robotics and industrial automation utilized in expansive distribution centers.
The industrial automation cable market covered in this report is segmented -
1) By Product Type: Ethernet Cables, Fieldbus Cables, Servo Cables, Robot Cables, Other Product Types
2) By Cable Type: Copper Cables, Fiber Optic Cables
3) By Sales Channel: Direct Sales, Distributor Sales
4) By Application Industry: Automotive, Oil And Gas, Energy And Power, Manufacturing, Aerospace And Defense, Chemicals And Petrochemicals, Pharmaceuticals, Food And Beverage, Other Applications
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Major companies operating in the industrial automation cable market are Prysmian Group, Borealis AG, Southwire Company, LLC, Nexans, Hitachi Metals, Ltd., Anixter International Inc., LEONI AG, Fujikura Ltd., LS Cable & System, Oki Electric, Belden, LAPP, Wanma Cable, TKH Group NV, Bizlink Holding Inc., Helukabel, igus GmbH, SAB Brockskes, Eland Cables, Alpha Wire Company, Teldor Cables & Systems Ltd., Cicoil LLC, Lorom Industrial, TPC Wire & Cable, Cables Unlimited, Inc., General Cable, Elettrotek Kabel, Zhejiang Zhaolong, Lutze, MotionCables
Contents of the report:
1. Executive Summary
2. Industrial Automation Cable Market Report Structure
3. Industrial Automation Cable Market Trends And Strategies
4. Industrial Automation Cable Market - Macro Economic Scenario
5. Industrial Automation Cable Market Size And Growth
…..
27. Industrial Automation Cable Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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