Automotive Control Cable Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The automotive control cable market is expected to register a CAGR of 6.9% during 2023–2031. The evolution of advanced technologies and the introduction of high-end vehicles will likely remain a key trend in the market.

Automotive Control Cable Market Analysis

• The global automotive control cable market is growing due to continuous improvement in the automotive market.
• Growing demand for electronic components in vehicles and rising focus on automotive safety systems is anticipated to act as a major driver for the market.
• The automotive control cable occupies a crucial position between communication and power cables. They are extensively utilized in automation, remote-control starters, protective relaying and regulator secondary switching, and instrument and equipment connection.
• Control cables distribute signals or data with low voltage, in contrast to power cables, which transfer both low and high energy. To control wires to be properly routed inside a product, they must be flexible.
•  The primary driver propelling the growth of the control cable market is the increasing trend toward process automation across various sectors.

Automotive Control Cable Market Overview

• Control Cable is essential in a vehicle operation is the automotive without which it would be difficult to operate the vehicle. To increase the control cable's longevity, performance, dependability, and ongoing efforts are made to improve its chemical and physical characteristics.
• Control cables find their utility as connecting connections in many different settings. Control cable market development is therefore anticipated to be aided by a growth in demand for these cables from the rail and transport networks construction industry.
• Control cable market expansion is also expected to be lucrative due to the increase in demand for specialized applications in bulk handling equipment, motorsport, road transport industries, and maritime.

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Automotive Control Cable Market: Strategic Insights

Automotive Control Cable Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Growing Automotive Sales

FUTURE TRENDS

• Increasing demand for Control Cable

OPPORTUNITIES

• Growing Focus on Technological Advancement in Vehicles

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Raw Material

• Steel
• PVC Compound
• Copper Rods

Product Range

• Single Core Cable
• Multi Core Cable

Cable Type

• Clutch Cable
• Bowden Cable
• Throttle Cable
• Speedometer Cable
• Steering Control Cable

End User

• Motorcycles
• Passenger Car Cable
• Light Commercial Vehicle
• Heavy Commercial Vehicle

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Automotive Control Cable Market Drivers and Opportunities

Growing Sales of Vehicles to Favor the Market

• The automotive cable materials market is experiencing a surge in demand within the automobile sector for its safety and comfort features.
•  The market is expanding due to factors like increased vehicle production, the launch of hybrid and flexible fuel vehicles, the rise of connected cars, and the increasing integration of digital technologies in autos.
• China continues to be the world’s largest vehicle market by both annual sales and manufacturing output, with domestic production expected to reach 35 million vehicles by 2031. Based on data from the Ministry of Industry and Information Technology, over 26 million vehicles were sold in 2021, including 21.48 million passenger vehicles, an increase of 7.1% from 2021.
• Consequently, the growing production of automobiles will require high automotive components, thereby increasing demand for components driving the automotive control cable market.

Increasing Demand for Control Cable

• In the automotive industry, the requirement for hybrid and electric vehicles (EVs) is rising significantly.
• The growth in electric vehicles and hybrid vehicles is boosting the advancements in cable technology to meet the intricate needs of the electric propulsion system, such as increased insulation and durability.
• The demand for sophisticated control systems and wiring harnesses is increasing as EVs and hybrids depend on electronic components for tasks like motor control and battery management, which is fueling the demand for automotive control cables.

Automotive Control Cable Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive control cable market analysis are raw material, product range, cable type, and end user.

• Based on the raw material, the automotive control cable market is divided into steel, PVC compound, copper rods, and others.
• based on the product range, the market is divided into single-core cable and multi-core cable.
• Based on cable type, the automotive control cable market is divided into clutch cable, bowden cable, throttle cable, speedometer cable, steering control cable, and others.
• based on the end user, the market is divided into motorcycles, passenger car cables, light commercial vehicles, and heavy commercial vehicles.

Automotive Control Cable Market Share Analysis by Geography

• The automotive control cable market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive control cable market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive control cable market in these regions.

Automotive Control Cable Market Market Report Scope

Automotive Control Cable Market News and Recent Developments

The automotive control cable market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive control cable market are listed below:

• Suprajit announced that it has successfully concluded the acquisition of the Light Duty Cable (LDC) business unit from Kongsberg Automotive ASA (‘Kongsberg Automotive’). The LDC business unit of Kongsberg Automotive, supplying to automotive, non-automotive, and 2-wheeler segments along with Electro-Mechanical Actuators (EMA), is now part of Suprajit Group. All four LDC-related entities are now 100% owned step-down subsidiaries of Suprajit through Suprajit USA, Inc. (Source: Suprajit, Company Website, October 2021)

Automotive Control Cable Market Report Coverage and Deliverables

The “Automotive Control Cable Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive control cable market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive control cable market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive control cable market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive control cable market
• Detailed company profiles