Authored By: Sarah
11 Jul 2024

 Automotive Control Cables Market Size to grow by USD 787.8 million between 2024-2028

According to a research report “ Automotive Control Cables Market” by Application (Passenger car, Commercial vehicle) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 787.8 million, at a CAGR of  4.5% during the forecast period. Control cables are an essential component in the automotive industry, known for their affordability and cost-effectiveness. OEMs purchase these cables in large quantities, leading to significant cost savings. The materials used in manufacturing control cables, such as steel or aluminum, vary depending on the application and vehicle type. The use of superior quality materials enhances cable performance and functionality. The manufacturing process, which involves wire drawing from wire rods using high tensile spring steels, contributes to a lower cost of production. These factors collectively fuel the growth of the automotive control cables market.

Browse market data tables, figures, and in-depth TOC on “Automotive Control Cables Market” by Application (Passenger car, Commercial vehicle) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Passenger car segment is projected to dominate the market size in 2024

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By Geography, APAC  segment is expected to hold the largest market size for the year 2024

The Automotive Control Cables Market represents a significant business opportunity due to the increasing demand for advanced driver assistance systems (ADAS) and electric vehicles (EVs). These technologies rely heavily on control cables for precise and efficient operation. Market growth is driven by factors such as regulatory compliance, safety concerns, and consumer preference for improved vehicle performance and functionality. Manufacturers are investing in research and development to produce lighter, stronger, and more durable control cables to meet the evolving needs of the industry.

APAC is forecasted to hold the largest market size by region in 2024

The Automotive Control Cables Market represents a significant business opportunity due to the increasing demand for advanced driver assistance systems (ADAS) and electric vehicles (EVs). Manufacturers are investing heavily in research and development to produce high-performance control cables that meet stringent safety and durability requirements. The market is expected to grow steadily, driven by factors such as increasing vehicle production and the rising trend towards automation in the automotive industry.

The Automotive Control Cables Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Acey Engineering Pvt. Ltd.
  • BBB Industries LLC
  • Cable Manufacturing and Assembly Co. Inc.
  • Chuo Spring Co. Ltd.
  • DURA Automotive Systems
  • Grand Rapids Controls Co. LLC
  • HI-LEX Corp.
  • Kalpa Industries
  • KALTROL
  • Kongsberg Automotive ASA
  • KUSTER Holding GmbH
  • Minda Corp. Ltd.
  • Panasonic Holdings Corp.
  • Premier Auto Cables
  • Silco Automotive Solutions LLP
  • Suprajit Engineering Ltd.
  • Tata Sons Pvt. Ltd.
  • Thai Steel Cable Public Co. Ltd.
  • Tyler Madison Inc.
  • WR Controls Sweden AB
.

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Research Analysis Overview

The global automotive control cables market is witnessing significant growth due to the increasing demand for wiring harnesses in various applications, including commercial aircraft like the Airbus A380, armored vehicles, and defense forces. The market is driven by factors such as global defense spending and geopolitical rifts leading to an increase in the production of defense vehicles. In passenger automobiles, automotive control cables are essential components for various systems, including safety systems, audio systems, engine accelerators, brakes, clutches, and transmissions. These cables are typically made of stainless steel wires for durability and resistance to wear and tear. The market for automotive control cables is expected to experience an absolute dollar opportunity of USD11.5 billion between 2021 and 2028, driven by the rising sales of automobile vehicles and the increasing demand for transmission cables, clutch cables, and brake cables in various varieties of vehicles. According to the International Energy Agency, the global passenger car sales are projected to reach 100 million units by 2025, further boosting the demand for automotive control cables.

Market Research Overview

The Automotive Control Cables Market encompasses a wide range of applications in various industries, including military ships, coastal shipping, and maritime activities. Jacket materials like Polyethylene and PVC, and wire materials such as stainless steel wires are used to manufacture mechanical cable controls for cabin equipment, aircraft seating, landing gear, engine control, and flight control systems. In the aerospace sector, automotive control cables are used in wiring harnesses for commercial aircraft like the Airbus A380 and various military aircraft. The OEM segment dominates the market, with applications in compact cars, commercial vehicles, and various vehicle types. Regulatory requirements, reliability, and redundancy are crucial factors driving the demand for automotive control cables in industries with high safety standards, such as defense forces and automotive. The market for automotive control cables also includes applications in wiring harnesses for electric vehicles and electromobility, with a focus on shielded automotive wire to prevent oil contamination, moisture, and high temperatures. Transmission systems, commercial vehicle models, and legislation are other significant drivers of the market. The Absolute dollar opportunity for automotive control cables is significant, with transmission cables, clutch cables, and brake cables being the most in-demand varieties. The market is expected to grow due to the increasing sales of passenger automobiles, global defense spending, geopolitical rifts, and safety concerns, including road accidents, audio systems, engine accelerators, brakes, clutches, and transmissions.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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