Automotive Control Cable market Poised to Register 3.7% CAGR through 2029
A new market research study by Future Market Insights on the automotive control cable market contains global industry analysis 2014–2021 and opportunity assessment 2022–2029. The report investigates the automotive control cable market and provides critical insights for the forecast period of 2022-2029. As per the findings of the report, the ~US$ 2.1 Bn market for automotive control cable will witness a moderate 4% annual rise in the revenues, by 2022 end.
New vehicle model
launches, and the spectacular rise in vehicle parc, have been the leading
market growth influencers. While gains are majorly driven by the increasing
demand for automotive vehicles, government mandates regarding anti-lock braking
systems for passenger and commercial vehicles, are identified to remain the key
growth determinants for market. This scenario will particularly prevail in
developing countries, such as India, China, and Brazil, among others, according
to FMI’s analysis.
The onset of rapid mainstreaming of electric vehicles is rendering a new
dimension to the automotive control cable landscape. FMI offers exclusive
insights on this, in addition to how companies actively operating in the
automotive control cable landscape are focusing on competitive strengths and
improved technology, towards the transformation of the auto ancillary industry,
since it is a low-volume and highly fragmented sector.
A Stream of Opportunities in South Asia’s Market
Regions such as
South Asia and East Asia are projected to generate substantial growth
opportunities in the forecast period owing to the rise in the number of vehicle
consumers, increasing urban population, sales of automobile, and vehicle parc
in these regions. China is one of the prime countries in East Asia, which has a
prominent share in the market due to the presence of several automotive control
cable manufacturers in the country. The China market is likely to boost the
growth of the East Asia automotive control cable market. India and ASEAN
countries in South Asia and Pacific are projected to boost the automotive
control cable market owing to the rise in disposable income of major population
and prominent factors such as urbanization.
The North America
market is likely to be one of the prominent markets in the global automotive
control cable market due to the increasing vehicle production in the region and
demand for automotive control cables by automobile customers enhancing safety features
of the vehicle. Moreover, regions such as Latin America and MEA are also
expected to witness a healthy CAGR during the forecast period. The report also
includes all the major countries in every region. All relevant macroeconomic
and forecast factors are considered while studying the automotive control cable
market size.
By vehicle type,
the compact vehicle type of automotive control cable segment is expected to
hold prominent value shares of the global automotive control cable market. This
has majorly resulted from the increasing production of compact vehicles and its
features such as lower price point, less parking space requirement, etc. On the
basis of sales channel, the OEM segment is expected to hold a majority share of
the global automotive control cable market value due to more reliability and
durable life cycle of automotive control cables.
Automotive Control Cable Market by Category
By Product Type:
·
Door Cable
·
Hood Cable
·
Transmission Cable
·
Trunk Cable
·
Brake Cable
·
Clutch Cable
·
Throttle Cable
·
Fuel Cap Cable
By Coating Material:
·
PCV cables
·
Polyethylene
By Vehicle Type:
·
Compact
·
Mid-size
·
Luxury
·
SUV
·
LCV
·
HCV
By Sales Channel:
·
OEM
·
Aftermarket
By Region:
·
North America
·
Latin America
·
Europe
·
East Asia
·
South Asia & Pacific
·
Middle East & Africa
Automotive Control Cable Market: Vendor Insights
The report
highlights some of the prominent market players, who have established
themselves as leaders in the global automotive control cable market. Few
examples of key players in the market are Thai Steel Cable Public Co., Ltd,
Minda Corporation Limited, Kongsberg Automotive ASA., Suprajit Engineering Ltd,
Ficosa Internacional SA, and Dura Automotive Systems, among others.
The global
automotive control cable market is significantly consolidated with some players
holding prominent shares of the market. These players have strategic
partnerships with car manufactures. For instance, Suprajit Engineering Ltd.
collaborated with several car manufactures such as Tata Motors, General Motors
(India), BMW, Volkswagen, and Ford India Limited, Suzuki, among others, to
provide automotive control cables.
For more information:
https://www.futuremarketinsights.com/reports/automotive-control-cable-market
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