The Automotive Data Cables market is expected to expand rapidly during the forecast period. The global Automotive Data Cables market was valued at USD 5.7 billion in 2019 and is expected to grow at a 6.2% CAGR to USD 8.6 billion by 2026.
Global Automotive Data Cables Market: Overview
Automobiles make extensive use of automotive control cable. Vehicle operation is difficult without an automotive control cable, which allows drivers to control vehicle functions. These programmable functions are designed to function effectively even in potentially hazardous conditions such as heat. A cable is composed of several insulated wires bundled together to form a single cable. To distinguish between insulation types and cable numbers, these cables are typically labelled with numbers and letters.
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Growth Factors in the Global Automotive Data Cables Market
The growing demand for lower energy consumption and high efficiency in modern automobiles, combined with a compact design, is one of the major factors driving the global automotive data cables market. However, due to the low energy consumption, the engine cabinet and automotive cable heat up in response to such high temperatures. They also improve resistance to cleaning agents, battery and fuel acids. The growing popularity of electric and hybrid vehicles necessitates a reliable supply of electrical energy. As a result of these new scenarios, the global automotive data cables market faces significant growth opportunities. Furthermore, due to the strict rules and regulations of, the production of electric vehicles is increasing.
Global Automotive Data Cables Market: Segmentation
The automotive data cable market is divided into four segments: application, vehicle type, cable type, and region.
The market is divided into four applications: safety and ADAS, infotainment and communication, body control and comfort, and powertrain. Because of the incorporation of excellent entertainment facilities such as GPS, video, audio, vehicle parking system, and others, the infotainment communication segment has the largest market share.
The market can be divided into commercial vehicles and passenger vehicles based on vehicle type. Because of the increasing incorporation of digital features in passenger cars to attract customers, the passenger vehicle segment accounts for the largest share of the global automotive data cables market.
Global Automotive Data Cables Market: Regional Analysis
The global Automotive Data Cables market is segmented into five major regions. Asia Pacific holds the largest share of the global automotive data cables market, owing to rising demand for high-speed data caused by increased vehicle production in the market.
Because of the region’s growing technological advancements, North America is expected to grow at an exponential rate.
Global Automotive Data Cables Market: Competitive Players
Some of the key players in the Automotive Data Cables market are Yazaki Corporation, Waytek, Inc., Sumitomo Electric Industries, Sampsistemi S.r.l, SALCAVI S.p.A., Prysmian Group, Lear Corporation, ITC Thermo Cable GmbH, HUBER+SUHNER AG, General Cable Technologies Corporation, Gebauer Griller Kabelwerke GesmbH, Furukawa Electric Industries Ltd., Delphi Automotive PLC, Coroplast Fritz Müller GmbH Co. KG, Condumex S.A. de C.V., Coficab Group, Champlain Cable Corporation, Belden Incorporated, Amphenol Corporation, ACOME Group, Alpha Wire, Guang Zhou Zhujiang Cable Co., Ltd, Leoni AG, Cable-Tec, Lexco Cable Mfg., Jersey Strand and Cable, Inc., Tyler Madison, Inc., Cable Manufacturing Assembly Co., ALLIED WIRE CABLE, INC., and AB Bröckskes GmbH Co. KG.
Leading automotive data cable providers are eager to acquire marginal players in order to broaden their portfolio and increase market outreach. Purchase of OTN Systems N.V. The latest developments underpinning the strategy were Belden in January 2021 and the acquisition of MTS Systems Corporation by Amphenol in December 2020.
Global Automotive Data Cables Market: Regional Segment Analysis
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East Africa
Rest of Middle East Africa
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