Dublin, April 23, 2020 (GLOBE NEWSWIRE) -- The "Automotive Cables Global Market Report 2020-30: Covid 19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global automotive cables market was worth $2.78 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.54% and reach $3.72 billion by 2023.
The automotive cables market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia-Pacific was the largest region in the automotive cables market in 2019.
Automotive Cables Market Global Report 2020 from the publisher provides the strategists, marketers and senior management with the critical information they need to assess the global automotive cables market as it emerges from the Covid 19 shut down.
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Where is the largest and fastest growing market for the automotive cables? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Automotive Cables market global report from the publisher answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider automotive cables market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the Covid 19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The automotive cables market section of the report gives context. It compares the automotive cables market with other segments of the automotive cables market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, automotive cables indicators comparison.
Major players in the market are Sumitomo Corporation, Coficab Tunisie SA, Leoni, Delphi Automotive PLC, General Cable, Furukawa Electric, Lear Corporation, Coficab Group, Yazaki Corporation, Allied Wire & Cable Inc.
The automotive cables market consists of sales of automotive cables and related services used for data transmission and electrical connections in automotive. Automotive cables are flexibles and are made of aluminum alloy to reduce the weight of the cables in an automobile. Automotive cables are used in lighting, in instrumental panel circuits in automobiles. These are used as battery cables, multimedia and coaxial cables, multi-core screened cables, sheathed ABS Sensor cables.
The automotive cables market covered in this report is segmented by product type into copper core, aluminum core, other. It is also segmented by sales channel into direct channel, distribution channel and by application into automotive primary wire and battery cable, brake cable, trailer cable, car speaker wire, fusible link wire.
The growth of automotive cables market is hindered by the growing availability of counterfeit auto parts including automotive cables. Cheap counterfeited cables are responsible for major revenue loss for authentic cable manufacturers. Apart from being priced low, these cables also increase the risk of accidents because of their low quality. The availability of counterfeited cables forces genuine manufacturers to spend heavy amounts to stop the sale of counterfeited products. According to the Federation of Indian Chambers of Commerce and Industry report in 2018, about 20% of all road accidents in India is attributed to counterfeit automotive parts with Rs 2,200 crore revenue being lost by the government due to these counterfeit products. Thus, the availability of counterfeit auto parts hampers the growth of automotive cables market.
The companies in automotive cables market are investing towards substitution of copper with aluminum in battery cables in order to save manufacturing cost and reduce weight. Aluminum used is one-third the weight of copper and is less expensive than copper. The replacement holds no significant difference in performance of the cable. Following the trend in 2019, LEONI Kabel, a Germany based cable and harnessing manufacturing firm, has started replacing copper with aluminum in its automotive cables. Another company , Jaguar, a U.K based car manufacturer , has also started using aluminum in its cables.
In 2019, TPC Wire & Cable Corp. (TPC), a USA based provider of premium electrical wire and cable solutions, acquired EZ Form Cable Corporation for an undisclosed amount. Through the acquisition TPC aims to strengthen its wire and cables solutions by utilizing wiring and cables solutions from EZ Form Cable Corporation's portfolio. EZ Form Cable Corporation is a USA based provider of RF connectors, coaxial cable and coaxial cable assemblies.
The increasing demand for automotives promotes the growth of automotive cables market. Automotive cables are used in automobiles in starting, charging, lighting, signaling and in instrument panel circuit. For instance, battery cables in automotive is used to connect the battery to the car's electrical system. The increasing demand for automotives will require automotive companies to increase their production and inturn increase the demand for automotive cables. According to the 2019 report by U.S Bureau of Economic Analysis, auto manufacturing contributed $327.1 billion in GDP whereas $218.3 billion was contributed by vehicle retail sales in 2018 GDP. Also, 18.7 million electric vehicles are expected to be in use by 2030. Thus, the growth of the automotive cables market is positively impacted by the increase in the demand for automotives.
Key Topics Covered:
1. Executive Summary
2. Automotive Cables Market Characteristics
3. Automotive Cables Market Size And Growth
3.1. Global Automotive Cables Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Automotive Cables Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Automotive Cables Market Segmentation
4.1. Global Automotive Cables Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Automotive Cables Market, Segmentation By Sales Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Automotive Cables Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Automotive Cables Market Regional And Country Analysis
5.1. Global Automotive Cables Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Automotive Cables Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Automotive Cables Market
7. China Automotive Cables Market
8. India Automotive Cables Market
9. Japan Automotive Cables Market
10. Australia Automotive Cables Market
11. Indonesia Automotive Cables Market
12. South Korea Automotive Cables Market
13. Western Europe Automotive Cables Market
14. UK Automotive Cables Market
15. Germany Automotive Cables Market
16. France Automotive Cables Market
17. Eastern Europe Automotive Cables Market
18. Russia Automotive Cables Market
19. North America Automotive Cables Market
20. USA Automotive Cables Market
21. South America Automotive Cables Market
22. Brazil Automotive Cables Market
23. Middle East Automotive Cables Market
24. Africa Automotive Cables Market
25. Automotive Cables Market Competitive Landscape And Company Profiles
25.1. Automotive Cables Market Competitive Landscape
25.2. Automotive Cables Market Company Profiles
26. Key Mergers And Acquisitions In The Automotive Cables Market
27. Automotive Cables Market Trends And Strategies
28. Automotive Cables Market Future Outlook and Potential Analysis
29. Appendix
Companies Mentioned
- Sumitomo Corporation
- Coficab Tunisie SA
- Leoni
- Delphi Automotive PLC
- General Cable
- Furukawa Electric
- Lear Corporation
- Coficab Group
- Yazaki Corporation
- Allied Wire & Cable Inc.
- PKC Group
- Kyungshin
- Beijing Force
- Fujikura
- Coroplast
- General Cable
- Acome
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