The Automotive Data Cables market is predicted to rise substantially during the forecast period. Automotive Data Cables had a global market value of USD 5.7 billion in 2019 and is predicted to increase at a 6.2% CAGR to USD 8.6 billion by 2026.
Global Automotive Data Cables Market: Overview
In autos, automotive control cable is commonly utilised. Vehicle operation is impossible without an automobile control cable, which allows drivers to operate vehicle functions. These programmable functionalities are designed to perform properly even in potentially hazardous conditions such as heat. A cable is made up of multiple insulated wires bundled together to form a single cable. To distinguish between insulation kinds and cable numbers, these cables are often labelled with numbers and letters.
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Growth Factors in the Global Automotive Data Cables Market
The growing desire for lower energy usage and better efficiency in modern automobiles, paired with a compact design, is one of the primary reasons driving the worldwide automotive data cables market. Yet, due to the low energy consumption, the engine cabinet and automotive cable heat up in reaction to such high temperatures. In addition, they improve resistance to cleaning chemicals, battery acids, and fuel acids. The popularity of electric and hybrid vehicles demands a steady supply of electrical energy. The worldwide automotive data cables market is primed for tremendous growth as a result of these new situations. Also, as a result of the tight rules and restrictions, the manufacture of electric vehicles is expanding.
Global Automotive Data Cables Market: Segmentation
The automotive data cable market is divided into four segments: application, vehicle type, cable type, and region.
In the market, there are four applications: safety and ADAS, infotainment and communication, body control and comfort, and powertrain. Because of the incorporation of great entertainment amenities such as GPS, video, audio, vehicle parking system, and others, the infotainment communication segment has the biggest market share.
The market can be segmented into commercial vehicles and passenger vehicles based on vehicle type. Because of the increasing adoption of digital technologies in passenger cars to attract customers, the passenger vehicle segment accounts for the greatest proportion of the worldwide 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
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East Africa
GCC
South Africa
Rest of Middle East Africa
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