Press release
Global Automotive Cables Market: Accelerating Demand, Surging CAGR, and Key Market Trends
Global Automotive Cables Market
• The automotive cables market has exhibited substantial growth in recent years. From a $6.04 billion value in 2024, the market is projected to surge to $6.41 billion in 2025, marking a CAGR of 6.1%. The growth drivers during this historic period include robust economic growth in emerging markets, low-interest rates, population growth, increasing demand for automobiles, government backing for the automotive industry, and escalating demand for enhanced user comfort, safety, and convenience.
• The automotive cables market size is predicted to sustain robust growth in the near future, estimated to reach $8.65 billion in 2029 at a CAGR of 7.8%. The growth forecast attributes to global population growth and urbanization, swift growth in e-commerce, favorable government initiatives, focus on car accessories, and focus on electric vehicles (EVs).
What Is Propelling the Growth in the Automotive Cables Market?
The surging demand for automobiles bolsters the growth of the automotive cables market. Automotive cables play a valuable role in numerous automobile systems such as starting, charging, lighting, signaling, and instrument panel circuits. With the rise in automotive demand, automotive firms require to step up their production, consequently escalating the demand for automotive cables. For example, in June 2022, according to an Indian Brand Equity Foundation (IBEF) report, the number of passenger vehicles produced, including three-wheelers, two-wheelers, and quadricycles, totaled 2,081,148 units. Furthermore, the Indian passenger car market, estimated at US$ 32.70 billion in 2021, is predicted to reach US$ 54.84 billion by 2027, boasting a CAGR of 9%. This growth positively impacts the advancement of the automotive cables market.
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Who Are the Key Players Driving Automotive Cables Market Growth?
• Sumitomo Corporation
• Prysmian Group - General Cable
• Leoni AG
• Lear Corporation
• Aptiv Group - Delphi Automotive PLC
• Furukawa Electric
• Motherson Sumi
• LS Cables & Systems
• HUBER+SUHNER.
• Acome
• Yazaki Corporation
• Fujikura Ltd.
• Robert Bosch
• HELLA GmbH & Co. KGaA
• Coroplast Harness Technology Sp. z oo sp. k
• EK Elektrokabel FABRYKA KABLI Karolak i synowie sp. z o.o.
• Coroflex Poland Sp. z o.o Sp. k.
• Eltrim Kable Sp. z o. o
• Anixter
• Allied Wire & Cable Inc
• Emcocables
• Navcar S.A.S
• Wirex Cable SA
• Sistemas de Argentina S.A
• Bahra Cables
• Coficab Group
What Are the Key Trends in the Automotive Cables Market?
• Transition from copper to aluminum for cable manufacturing has been observed to reduce weight.
• Focus on crafting sheathed cables using advanced materials is a notable trend.
• The market sees a shift on placing importance on private and public funding.
• Key players are investing in modernizing cable testing systems.
What Are the Segments within the Global Automotive Cables Market?
1) By Product Type: Copper Core, Aluminum Core, Other Product Types
2) By Sales Channel: Direct Channel, Distribution Channel
3) By Application: Automotive Primary Wire And Battery Cable, Brake Cable, Trailer Cable, Car Speaker Wire, Fusible Link Wire
Which Region Dominates the Automotive Cables Market?
Asia-Pacific held the largest share in the global automotive cables market in 2024. The regions encapsulated in the report comprise Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Cables Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Cables Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Cables Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Cables Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Cables Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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