Automotive Cable And Wire Market Report

Market Insights

The Global Automotive Cable and Wire Market is projected to grow from USD 31.1 billion in 2020 to USD 40.7 billion by 2026 at a CAGR of around 4.7% during the forecast period.

Figure: Global Automotive Cable and Wire Market Size, 2020-2026 (USD Billion)

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What are Automotive Wire and Cables?

Automotive cables are designed to transmit electricity to power devices equipped on a vehicle such as lighting, steering servos, air-conditioning units, and sensors. Automotive wires and cables can be made using materials such as copper and aluminum among others.

Key Players

Key players operating in the global Automotive Cable and Wire market are-

• ACOME (France),
• Allied Wire & Cable (The U.S),
• Coficab (China),
• Coroplast Fritz Müller GmbH & Co. KG (Germany),
• Aptiv plc (The U.S),
• Draka Holdings B.V. (Netherlands),
• Lear Corporation (The U.S),
• Leoni AG (Germany),
• Sumitomo Electric Industries, Ltd (Japan), and
• Yazaki Corporation (Japan).

Market Dynamics

The rising product of electric vehicles on account of increasing environmental regulations is likely to boost the product demand significantly.

• The growth of the global automotive cable and wire market is primarily driven by the increasing growth of the automotive industry particularly in developing countries.
• Growing demand for high-quality automotive cables and wires is likely to create lucrative opportunities for the market players during the review period.

Segments' Analysis

Vehicle Type Trends

By vehicle type, the automotive cable and wire market has been bifurcated into passenger vehicle light commercial vehicle (LCV), and heavy commercial vehicle (HCV).

The passenger vehicle segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period on account of increasing automotive production across geographies.

Regional Trends

By region, the market in Asia-Pacific accounted for the largest market share of around 30% in 2020 and is projected to grow at a significant CAGR during the assessment period.

• The regional growth can be attributed to expanding automotive industry in the developing countries such as China and India.
• The market in North America is expected to be driven by presence of established automotive industry and key market players such as Allied Wire & Cable (The U.S) and Aptiv plc (The U.S).

COVID-19 Impact on Global Automotive Cable and Wire Market

Covid-19 outbreak impacted the growth of the automotive cable and wire market negatively. The spread of coronavirus led to enforcement of lockdown to curb the spread of virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product availability on time.

Critical Questions Answered in the Report

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

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Target Audience

• Automotive cable and wire distributors
• Automotive cable and wire suppliers
• Automotive cable and wire manufacturers
• Logistics organizations
• Government bodies

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