Speedometer is a device that measures the speed of a vehicle to monitor and maintain the vehicle speed. There are two configurations of speedometers in automobiles, mechanical and electronic. The automotive speedometer cable is an important part of the speedometer that helps in measurement of the speed of the vehicle. A rotating flexible cable usually connected to the transmission gearbox of the vehicle is termed a speedometer cable. A small permanent magnet is connected to the automotive speedometer cable along with an aluminum cup which is attached to the analogue speedometer instruments. Automotive speedometer cables are designed in various forms and dimensions on the basis of the vehicle tire size and its rear gear ratio. Automotive speedometer cables are used in the original equipment manufacturers (OEM) production assembly as well as by aftermarket vendors for device replacement.
COVID-19 Impact Analysis
- The COVID-19 is rapidly changing the dynamics of the automotive sector., The unpredicted disturbance created by the pandemic would affect the auto sector. Lockdowns have led to travel bans and business shutdowns, which affected the global supply chain of the automotive speedometer cable market. Thus, impacting manufacturing and delivery schedules of vehicle parts. The governments have made social distancing mandatory to prevent the spread of the virus, therefore, several organizations have started work from home as a safety measure, which has led to a sudden decline in demand for automobiles across the globe, thus affecting the automotive speedometer cable market. Moreover, the pandemic has also forced the automotive industry to re-think its business due to the significant drop in vehicles sales. Moreover, COVID-19 has impacted the development of innovation in the automotive speedometer cable market. The lockdown has also resulted in an excess of inventories of vehicle parts as manufactured products have yet to be delivered to the suppliers.
Top Impacting Factors
Surge in global automobile market, stringent government rules & regulation, and high demand for safety and convenience features drive the growth of the market.
Rise of wireless speedometer hinder the growth of the market.
Increase in demand for fuel-efficient, high-performance electric vehicle act as an opportunity for the market investments.
The Global Speedometer Cable Market Trends are as Follows:
Surge in Global Automobile Market
- The rapid increase in the production of vehicles across the globe is the major driving factor, which fuels the market of the automotive speedometer in the forecast period. An increase in the road safety parameters to reduce fatalities demand for automotive speedometer is likely to remain higher during the forecast period. However, when tires get worn out the accuracy of the speedometer is less and it shows variations in speed due to several factors such as diameters of wheels, the load of the vehicle, size of the vehicles, and other factors. These drive the growth of the market.
Key Benefits of the Report:
- This study presents the analytical depiction of the global speedometer cable market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the global speedometer cable market.
- The current market is quantitatively analyzed to highlight the growth scenario of the global speedometer cable market.
- The report provides a detailed global speedometer cable market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Global Speedometer Cable Market Research Report:
- Who are the leading market players active in the global speedometer cable market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the global speedometer cable market?
- What are the future projections that would help in taking further strategic steps?
Automotive Speedometer Cable Market Report Highlights
By Raw Material
By Product Range
By End User
Key Market Players
H.S. Taiwan Cable Co. Ltd.,, JP Group,, SILCO CABLES,, COFLE S.p.A.,, Speedy Cables,, ABS,, Tayoma Engineering Industries Pvt Ltd,, Hans Pries GmbH & Co. KG,, R.S. International, Metzger.