Press release
Automotive Control Cable Market Size, Share, Trends, and Analysis 2025-2032 | Thai Steel Cable Public Co., Ltd,Minda Corporation Limited
Automotive Control Cable Market
The estimated size of the automotive control cables market was US$ 2.5 billion in 2022, and it is expected to reach US$ 3.6 billion in 2023. the market is projected to expand at a Compound Annual Growth Rate (CAGR) of 7.37% between 2024 and 2032
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Major Players in Automotive Control Cable Markets are:
Thai Steel Cable Public Co., Ltd,Minda Corporation Limited, ABB and Niedax Group, Kongsberg Automotive ASA.,Suprajit Engineering Ltd,FicosaInternacional SA,Dura Automotive Systems,Scottish Leather Group Limited,HI-LEX Corporation,Grand Rapids Controls Company LLC.,Conwire Pty Ltd.
Industry News:
August 2024: ABB and Niedax Group created a joint venture to meet the growing demand for cable tray systems in North America. The planned joint venture will offer ABB Installation Products, T&B Cable Tray, and ExpressTray Steel Wire Basket Tray product lines. It will also provide Niedax Group's MonoSystems, Canadian Electrical Raceways, and other Niedax product lines.
June 2024: Suprajit Engineering inked a SPA to acquire Stahlschmidt Cable Systems (SCS) based in Germany. SCS is a well-known Light Duty Cable maker with a marquee customer base. SCS brings valuable low-cost manufacturing capabilities in Morocco, a strong German engineering and sales team, and China exports through Canada. This acquisition comes with strong customer support, and the deal involves acquiring asset/equity purchases in Germany, Canada, China, Poland, and Morocco. It requires some fresh contracts with customers, vendors, and employees.
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Automotive Control Cable Market Trends:
The automotive industry is shifting toward electrification, and the demand for high-performance control cables that can support sophisticated electronic systems is growing. For instance, OEMs such as Tesla and BMW are incorporating advanced throttle and brake control cables that are designed to work seamlessly with their electric drivetrains, enhancing vehicle responsiveness and safety. These cables are engineered to handle the unique requirements of electric vehicles, such as rapid response times and increased durability under varying conditions.
Furthermore, companies are investing in innovative materials and designs to improve the performance and reliability of control cables. For example, manufacturers are exploring the use of lightweight materials, such as composite cables, which reduce overall vehicle weight and improve energy efficiency. Research from OEMs indicates that integrating smart technologies, such as sensors within control cables, can provide real-time feedback to the vehicle's control systems, enhancing overall safety and performance.
Global Automotive Control Cable Market Segmentation:
By Product Type:
Door Cable
Hood Cable
Transmission Cable
Trunk Cable
Brake Cable
Clutch Cable
Throttle Cable
Fuel Cap Cable
By Coating Material:
PCV cables
Polyethylene
By Vehicle Type:
Compact
Mid-size
Luxury
SUV
LCV
HCV
By Sales Channel:
OEM
Aftermarket
The following areas and countries are covered in the worldwide Automotive Control Cable Market file:
North America (US, Canada, Mexico)
Europe (Germany, France, UK, Russia, Italy)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE), Egypt, Nigeria, and South Korea)
Asia Pacific is currently dominating the market for automotive control cable due to its large population, growing middle class, and increasing vehicle production. Rapid urbanization and increasing vehicle production in China and India are driving the demand for these cables in Asia Pacific. OEMs such as Geely are expanding their offerings to cater to this growing market.
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https://www.marketdigits.com/automotive-control-cable-market-1690979448
Key Features of the Automotive Control Cable Market Report: -
Analyze competitive developments such as expansions, deployments, new product launches, and market acquisitions.
Examine the market opportunities for stakeholders by identifying higher growth sections.
To study and analyze the global Automotive Control Cable Market industry status and forecast including key regions.
An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.
It helps you make strategic business decisions and investment plans.
Finally, Automotive Control Cable Market is a valuable source of guidance for individuals and companies.
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