Press release
Industrial Automation Cable Market Poised to Hit $12.35 Billion by 2029 with Accelerating Growth Trends
Industrial Automation Cable Market Size
Industrial Automation Cable Market Size Growth Forecast: What to Expect by 2025?
In recent years, there has been a significant increase in the size of the industrial automation cable market. It is expected to rise from $8.16 billion in 2024 to $8.89 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%. The growth seen in the past can be credited to factors such as the demand for fast data transmission, consistent power supply, emerging economies, infrastructure growth, advancements and digitization of systems, and a high demand for data exchange.
How Will the Industrial Automation Cable Market Size Evolve and Grow by 2029?
Experts anticipate robust expansion in the industrial automation cable market in the upcoming years, with estimates projecting the market to grow to a substantial $12.35 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.6%. This surge during the forecast period is credited to a growing global demand for advanced data transmission and power supply solutions, a shift from traditional production processes and facilities, amplified demand for industrial automation cables, and an increasing need for high-performance networks. Forecasts also indicate major trends such as technological evolution, the latest strides in factory optimization, groundbreaking solutions for the automotive and agricultural sectors, advancements in the Internet of Things (IoT), and escalating endorsement of automation technologies.
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What Drivers Are Propelling the Growth of Industrial Automation Cable Market Forward?
The industrial automation cable market is likely to experience an upswing due to the rising trend toward robots. Robotics, an interdisciplinary field that involves the design, construction, utilization, and assessment of independent or somewhat independent robots that can either imitate or augment human tasks, is contributing significantly to this surge. The application of robotics is escalating, thanks to the swift advancements in robotics technology including progress in artificial intelligence, control systems, actuators, and sensors. Industrial automation cables serve as essential parts of robotic systems, facilitating effective power transmission, signal interaction, data transfer, flexibility, and safety in industrial automation operations. For example, in September 2024, the International Federation of Robotics-a non-profit German organization specializing in industrial robotics-reported a 10% increase in the number of operational industrial robots from 2022, totaling 4,281,585 units in 2023. Hence, the growing propensity for robotics is set to bolster the expansion of the industrial automation cable market.
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Which Emerging Trends Are Transforming the Industrial Automation Cable Market in 2025?
Leading businesses within the industrial automation cable market are seeking to boost their market profitability through the creation of innovative products including continuous flex coaxial cable. These high-flex coaxial cables are engineered for constant motion and flexibility applications. For example, Times Microwave Systems, a pioneering manufacturer of microwave interconnect assemblies and cables based in the US, unveiled its XtendedFlex 178 continuous flex coaxial cable in March 2023. This cable, suitable for usage with plastic cable drag chains, is specifically designed to cater to the needs of dynamic movement and adaptability applications, especially in industries like robotics and industrial automation prevalent in vast distribution centers.
What Are the Key Segments in the Industrial Automation Cable Market?
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
Subsegments:
1) By Ethernet Cables: Industrial Ethernet Cables, Gigabit Ethernet Cables, Fiber Optic Ethernet Cables
2) By Fieldbus Cables: Profibus Cables, Can Bus Cables, Devicenet Cables
3) By Servo Cables: AC Servo Cables, DC Servo Cables, High-Performance Servo Cables
4) By Robot Cables: Flexible Robot Cables, Heavy Duty Robot Cables, Continuous Flex Cables
5) By Other Product Types: Power Cables, Control Cables, Data Cables
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Who Are the Key Players Shaping the Industrial Automation Cable Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Industrial Automation Cable Market?
Europe was the largest region in the industrial automation cable market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial automation cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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