Automotive Data Cables Market Research, 2031
The global automotive data cables market size was valued at $7 billion in 2021, and is projected to reach $20.2 billion by 2031, growing at a CAGR of 11.7% from 2022 to 2031.
According to Vaishnavi Mate Lead Analyst, Semiconductor and Electronics, at Allied Market Research, the automotive data cables market growth is expected to witness significant growth during the forecast period of 2022-2031. The report contains a thorough examination of the market size, automotive data cables market trends, key market players, sales analysis, major driving factors, and key investment pockets. The report on the global automotive data cables market analysis provides an overview of the market as well as market definition and scope. Automobile data cables have the central function of transmitting electricity to power various devices equipped on a vehicle such as lighting, air-conditioning units, steering servos, sensors. Automakers all around the world are launching new electric car models with cutting-edge technologies in an effort to increase their market base. As a result of consumers' growing preference for eco-friendly electric vehicles over conventional gasoline vehicles, the market is anticipated to rise throughout the forecast period. Hybrid vehicles also have advantages over standard and electric vehicles. It really delivers superior fuel economy than standard gasoline vehicles with the addition of an electrical system. Hybrid vehicles consist of invertors and electric motors that are connected by automotive data cables.
The automotive data cables market outlook is segmented into Cable Type, Vehicle Type and Application..
By type, the market is classified into controller area network (CAN), low voltage differential signaling (LVDS)/high speed data (HSD), flexray, ethernet, controller area network flexible data-rate (CAN-FD), and coaxial cables. The controller area network (CAN) segment dominated the automotive data cables industry, in terms of revenue in 2021, and is expected to follow the same trend during the forecast period.
By vehicle type, it is categorized into passenger vehicles and commercial vehicles. The passenger vehicles segment dominated the automotive data cables industry, in terms of revenue in 2021, and is expected to follow the same trend during the forecast period.
On the basis of application, it is classified into infotainment & communication, body control & comfort, safety & ADAS, and powertrain. The powertrain segment accounted for the highest market share in 2021.
On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries. Asia-Pacific was the highest revenue contributor to the market.
COMPETITION ANALYSIS
Competitive analysis and profiles of the major ACOME Group, Belden Inc, Champlain Cable Corporation, Furukawa electric co., LTD, COFICAB Group, Condumex S.A. de C.V., Coroplast Fritz Müller GmbH & Co. KG, BorgWarner Inc., Gebauer & Griller, Prysmian Group, Sumitomo Electric Industries Ltd and Automotive Interconnect Solutions. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase the automotive data cables market share during the forecast period.
COUNTRY ANALYSIS
Country-wise, the China acquired a prime share in the automotive data cables market in the Asia Pacific region and is expected to grow at a significant CAGR during the forecast period of 2019-2031.China holds major market share in terms of revenue generation from the sale of cables because of the higher presence of presence of the cable manufacturers.
In Europe, the UK, dominated the automotive data cables market, in terms of revenue, in 2021 and is expected to follow the same trend during the forecast period. However, Germany is expected to emerge as the fastest-growing country in Europe's automotive data cables with a notable CAGR, due to companies investing heavily in autonomous mobility R&D projects is driving the expansion of the regional market and thus creates lucrative growth opportunities for the automotive data cables market in Germany.
In North America, U.S. is expected to emerge as a significant market for the automotive data cables industry, owing to increase adoption of passenger cars are driving the demand for automotive data cables in North America.
By LAMEA region, the Latin America country garner significant market share in 2021 The Latin American market has huge potential for the automobile sector as car ownership is low in the area and disposable incomes are expanding rapidly than in the Asia-Pacific region. Brazil had protectionist policies in place as a part of its Inovar Auto Policy to support the local automotive companies from imports by offering tax credits and other incentives, these factors are expected to reshape the growth of automotive data cables market in the Middle East.
TOP IMPACTING FACTORS
Significant factors impacting the automotive data cables market include rapid technology proliferation in automobile electronics and increasing sales of connected vehicles with sophisticated ADAS technologies. However, automotive usb transfer cable market growth is hindered by the counterfeit auto parts. Furthermore, rising in the demand for efficiency and lower energy usage in new automobiles provides lucrative automotive data cables market opportunity.
IMPACT OF COVID-19 OUTBREAK
The semiconductor industry globally has been impacted by the spread of Covid-19 and improvements are expected to be completed in the upcoming years with more efficiency in order to make up for lost opportunities during lockdowns.
HISTORICAL DATA & INFORMATION
The global automotive data cables market is highly competitive, owing to the strong presence of existing vendors. Vendors of the automotive usb data cable market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to increase as advancement in communication application, product extensions, and different strategies adopted by key vendors increase.
KEY DEVELOPMENTS/ STRATEGIES
Amphenol Corporation, Borgwarner Inc, ACOME, II-VI Incorporated, Sumitomo Electric Industries, are the top 5 companies holding a prime share in the automotive data cables market. Top market players have adopted various strategies, such as product launches, contracts, and others to expand their foothold in the automotive data cables market.
- In July 2022, Amphenol Industrial Operations launched its Amphe-Lite connector series to meet the increasing demand of fiber optic interconnection applications in the medical, oil and gas, security and grid industries. Amphe-Lite fiber optic termini transmitted an optical laser with high speed, high reliability, EMI/RFI immune, digital data transmission in harsh environments.
- In May 2022, Amphenol Communications Solutions announced the release of its BarKlip BK500 IO and BarKlip BK150 IO busbar connectors. These high-current connectors are fully compliant with OCP ORv3 power output and IT gear specifications supporting 48V power rack architecture and are ideal for use in a variety of power-dense data center applications including the Power shelf, baseband units, and server and storage sleds.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global automotive data cables market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive data cables market.
- The report includes the market share of key vendors and global automotive data cables market trends.
Automotive Data Cables Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 20.2 billion |
 Growth Rate | CAGR of 11.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 247 |
 By Cable Type |
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 By Vehicle Type |
|
 By Application |
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 By Region |
|
 Key Market Players | Belden Inc., Prysmian Group, Champlain Cable Group, COFICAB Group, Coroplast Fritz Müller GmbH & Co. KG, Gebauer & Griller, FURUKAWA ELECTRIC CO., LTD., BorgWarner Inc., Condumex S.A. de C.V., Sumitomo Electric Industries, Ltd, ACOME, Amphenol Corporation |
Analyst Review
The automotive data cables market is expected to leverage high potential for the passenger cars and commercial vehicle during the forecast period. The current business scenario is witnessing an increase in demand for CAN-FD data cables, particularly in developing regions such as China, India, and UK, owing to increase in government mandates related to public safety and security. Companies in this industry are adopting various innovative techniques such as mergers and acquisition activities to strengthen their business position in the competitive matrix.
The major factor that drives growth of the automotive data cables market across Asia-Pacific is the immense digital needs of emerging economies with high populations in countries such as such as China, India, and Indonesia. In addition, with the trend of electromobility surging at a breakneck pace, a rapid shift in customer preference towards adoption of electric vehicle is being experienced in the country. For instance, according to a report by the Federal Motor Transport Authority (KBA), around 394,940 electric cars were registered across Germany in 2020.
Commercial vehicles are gaining positive attention as a result of the integration of advanced communication systems into vehicles by several truck manufacturers, which is boosting the uptake of automotive data cables. Furthermore, the growth of end-user industries is also escalating significant demand for commercial vehicles. Key automotive data cables market leaders profiled in the report include ACOME Group, Belden Inc, Champlain Cable Corporation, Furukawa electric co., LTD,COFICAB Group, Condumex S.A. de C.V.,Coroplast Fritz Müller GmbH & Co. KG, BorgWarner Inc.,Gebauer & Griller, Prysmian Group, Sumitomo Electric Industries Ltd and Automotive Interconnect Solutions.
The global automotive data cables market was valued at $7 billion in 2021.
Powertrain is the leading application in automotive data cables market.
Asia-Pacific is the largest regional market for automotive data cables.
Amphenol Corporation, Borgwarner Inc, ACOME, II-VI Incorporated, Sumitomo Electric Industries are the top companies to hold the market share in automotive data cables.
The key trends of automotive data cables include rapid technology proliferation in automobile electronics and increasing sales of connected vehicles with sophisticated ADAS technologies. However, automotive cables market growth is hindered by the counterfeit auto parts. Furthermore, rising in the demand for efficiency and lower energy usage in new automobiles provides lucrative opportunities to the market growth.
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