Cable Market for Automotive – Overview
A cable contains two or more insulated wires packed in one jacket. Generally, cables are denoted or marked with letters and numbers to identify cables number and insulation types. A modern vehicle contains numerous electronic applications that provide better driving experience along with fuel efficiency and safety features. In an electric car, nearly 70 kg of wiring is present to due to an increase in the adoption of new technologies, such as parking sensors, lighting, Bluetooth, and navigation. Various types of automotive cables, such as round sheathed cables, flat sheathed cables, and hybrid sheathed cables, are used in automotive applications depending on the requirement and functions these types.
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Cable Market for Automotive – Drivers and Restraints
Increase in demand for efficiency and lower energy consumption in modern vehicles along with compact design is likely to raise the temperature in the engine compartment. Automotive cables not only withstand high temperatures in the engine compartment but also offer resistance against fuels, battery acid, and cleaning agents. Consequently, the demand for automotive cables is likely to increase during the forecast period.
New challenge of distribution of electrical energy in electric and hybrid vehicle is likely to offer significant business opportunities for the automotive cable in the near future. Rise in consumption of electric vehicles due to stringent emission norms and green transportation initiatives by regulatory bodies is likely to boost the demand for electric vehicles during the forecast period. This, in turn, is anticipated to propel the cable market for automotive during the forecast period.
In terms of vehicle type, the cable market for automotive can be segregated into passenger vehicle, electric vehicle, and commercial vehicle. Large consumption of electrical components and adoption of new technologies in electric vehicles are estimated to boost the demand for automotive cables during the forecast period.
In terms of region, the cable market for automotive can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The presence of several large automotive hubs in Asia Pacific and high production of passenger vehicles coupled with rise in adoption of electric vehicles due to stringent emission norms in the region are anticipated to drive the cable market for automotive in the region during the forecast period.
Cable Market for Automotive – Key Players
Key players operating in the cable market for automotive are Coroplast Fritz Müller GmbH & Co. KG, LEONI AG, General Cable Technologies Corporation, SALCAVI S.p.A., and HUBER+SUHNER.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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