Automotive Handbrake And Clutch Cables Market Report

Market Insights

The Global Automotive Handbrake and Clutch Cables Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of xx% during the forecast period.

Figure: Global Automotive Handbrake and Clutch Cables Market Size, 2020-2026 (USD Million)

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What are Handbrake and clutch cables?

Handbrake and clutch cables are vital operational parts of an automotive. For the effective operation of a vehicle, the proper functioning of these components is important. Typically, handbrake and clutch cables possess a higher replacement rate when compared to other components in the brake and transmission system.

Key Players

Key players operating in the global automotive handbrake and clutch cables market are-

• TRW Automotive (The US),
• Hella Pagid GmbH (Germany),
• Continental Automotive GmbH (Germany),
• Cable-Tec (UK),
• TMD Friction Group (TMD PAGID) (Germany),
• DURA Automotive Systems (The US),
• Catton Control Cables (UK), and
• Anropa Cables (Pty) Ltd. (South Africa).

Market Dynamics

Favourable macro-economic environment in the automotive sectors of developed and developing countries is likely to boost the product demand.

Also, rise in the passenger vehicle production due to growing purchasing power, augments the demand for automobiles, which, in turn, propels the market growth. However, presence of low-priced counterfeit products with poor quality and durability is expected to hamper the industry growth in the coming years.

Segments' Analysis

Product Trends

Based on product, the automotive handbrake and clutch cables market is categorized into clutch cables and handbrake cables.

• The handbrake cables segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline.
• This is mainly attributed to increasing friction between your brake pads while constantly driving with the handbrake on.
• And the longer and faster one travels, the more friction it generates, thus its wears off easily and needs replacement.

Regional Trends

By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years.

• The region is likely to emerge as a key exporter of handbrake & clutch cables to many countries in the coming years.
• Countries such as India, China, and South Korea are anticipated to remain as the leading contributors, which further proliferates the regional market growth.

COVID-19 Impact on Global Automotive Handbrake and Clutch Cables Market

The COVID-19 outbreak has moderately affected the automotive handbrake and clutch cables industry. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. Stringent government regulations on people gathering and traveling barriers have largely affected the demand for vehicles, resulting in a decline in production and sales of passenger cars, further impacting the growth.

Critical Questions Answered in the Report

• What are the key trends in the global automotive handbrake and clutch cables market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on the global automotive handbrake and clutch cables market?
• What are the key strategies adopted by the major vendors to lead in the global automotive handbrake and clutch cables market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Automotive Handbrake and Clutch Cables market hopes to have the greatest opportunity to convert-

• Automotive handbrake and clutch cables vendors
• Automotive handbrake and clutch cables retailers
• Automotive companies
• Car manufacturing companies

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