Automotive Control Cables Market size is set to grow by USD 787.8 million from 2024-2028, Automotive control cables are cheap owing to the use of cost-effective materials and the manufacturing process boost the market, Technavio

NEW YORK, July 8, 2024 /PRNewswire/ -- The global automotive control cables market size is estimated to grow by USD 787.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.5% during the forecast period. Automotive control cables are cheap owing to the use of cost-effective materials and the manufacturing process is driving market growth, with a trend towards developments in the field of automotive control cables. However, government guidelines on the use of control cables for automotive applications poses a challenge. Key market players include 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., and WR Controls Sweden AB.

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Market Driver

The automotive control cables market is experiencing advancements in design, manufacturing processes, and materials. Vendors are utilizing modern techniques to create durable and dependable control cables, enhancing system efficiency. Advanced materials like high-strength aluminum are used to minimize wear and tear, reducing the likelihood of cracks. Quick-fit snap mechanisms and plastic abutments facilitate easy installation, while improved crimping processes ensure better performance for both plastic and metallic abutments. Flexible conduits with twin-wire are incorporated for ease of use. Additionally, certain control cables offer online control and guarantee pullout loads for end settings.

The Automotive Control Cables market is experiencing significant growth due to increasing automobile vehicle sales across various types, including passenger automobiles and commercial vehicle models. The market encompasses various control cables such as brake cables, clutch cables, transmission cables, and engine accelerators for wires used in vehicles. The absolute dollar opportunity is substantial, with the International Energy Agency projecting continued growth in automobile sales. Key components include stainless steel wires for transmissions, clutches, and brakes, as well as wires for audio systems and electromobility in electric vehicles. Road safety is a top priority, with legislation mandating the use of shielded automotive wire to protect against high temperatures, moisture, and oil contamination. The market also caters to the defense industry, with applications in armored vehicles and aircraft. The geopolitical rift and global defense spending have created opportunities for OEMs in the OEM segment. Additionally, the market includes car battery cables and cockpit wiring. Varieties of vehicles and their components continue to evolve, with trends in electromobility and safety driving innovation.

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Market Challenges

• The automotive control cables market is significantly influenced by government regulations and standards. These rules aim to enhance vehicle safety, decrease carbon emissions, and boost energy efficiency. However, they present challenges for control cable manufacturers. Various countries have established quality standards and specifications for automotive control cables, such as India's Automotive Industry Standards Committee and JASO F 903-75 for automobiles and JASO T 001-97 for motorcycles. These standards outline requirements for appearance, design, tolerance, performance, and quality for different control cable components. To meet these standards, cables must pass durability and endurance tests, ensuring minimal error for vendors. Despite the challenges, adherence to these regulations ensures the production of high-quality, reliable control cables for the automotive industry.
• The Automotive Control Cables market faces several challenges in various sectors. In the automotive industry, selecting suitable coating materials for Polyethylene and PVC cables is crucial for Compact Cars and OEM segments to ensure reliability and redundancy. Coating materials must withstand extreme temperatures and resist abrasion. In the Defense sector, armored vehicles and military ships require specialized cables for mechanical cable controls, flight control, engine control, landing gear, aircraft seating, and cabin equipment. Defense forces' geopolitical rifts impact global defense spending, affecting the demand for these cables. Regulatory requirements for wire material and jacket material are stringent in the Aviation industry, with wiring harnesses used in commercial aircraft like the Airbus A380 requiring high-performance materials. Maritime activities, including coastal shipping, also demand robust cable solutions to withstand harsh conditions. Car battery cables and cockpit controls in vehicles also require high-quality, reliable cable solutions. The market must adapt to evolving technology and regulatory requirements while ensuring affordability and efficiency.

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Segment Overview

This automotive control cables market report extensively covers market segmentation by

1. Application
• 1.1 Passenger car
• 1.2 Commercial vehicle
2. Geography
• 2.1 APAC
• 2.2 North America
• 2.3 Europe
• 2.4 South America
• 2.5 Middle East and Africa

1.1 Passenger car- The Automotive Control Cables Market is experiencing significant growth due to the increasing demand for advanced driver-assistance systems and electric vehicles. Manufacturers are focusing on producing high-quality, durable cables to ensure vehicle safety and performance. Key players in the market include Bosch, Continental AG, and Sumitomo Electric Industries, who are investing in research and development to innovate and meet consumer needs. The market is expected to continue expanding, driven by technological advancements and growing automotive production.

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Research Analysis

The Automotive Control Cables market encompasses a range of wires used in various vehicle systems, including brake cables, clutch cables, transmission cables, and engine accelerators for passenger automobiles and commercial vehicles. These cables are essential components that ensure smooth transmission of signals and power between vehicle parts. The market's absolute dollar opportunity is driven by increasing automobile vehicle sales and the demand for advanced safety features in vehicles. The International Energy Agency projects that global passenger automobile sales will reach 100 million units by 2025. The market is also influenced by factors such as road accidents, safety regulations, and the need for wiring harnesses in cockpit displays, defense forces, and commercial aircraft like the Airbus A380. Stainless steel wires are commonly used due to their durability and resistance to corrosion. Geopolitical rifts and global defense spending on armored vehicles and military aircraft are also significant market drivers.

Market Research Overview

The Automotive Control Cables market caters to the demand for various types of vehicles, including passenger automobiles and commercial models. The market comprises several types of control cables, such as brake cables, clutch cables, transmission cables, and engine accelerators, among others, used in vehicles' transmissions, clutches, brakes, audio systems, and other components. The market presents an absolute dollar opportunity, driven by increasing automobile vehicle sales and the growing demand for safety features in vehicles. The International Energy Agency projects continued growth in automobile sales, particularly in emerging economies. Factors like road accidents, safety, and legislation are driving the demand for reliable and redundant control cables. Varieties of control cables include stainless steel wires, shielded automotive wires, and cables coated with materials like Polyethylene cable, PVC, and Polyethylene. The market also caters to non-automotive industries, such as defense forces and commercial aircraft, with applications in wiring harnesses, formboards, wire bundles, and mechanical cable controls for flight and engine control, landing gear, aircraft seating, cabin equipment, and more. The market is subject to regulatory requirements and geopolitical rifts, with global defense spending and maritime activities, including coastal shipping and military ships, contributing to the demand for specialized control cables.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Passenger Car
• Commercial Vehicle
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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

SOURCE Technavio

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