NEWARK, Del., September 19, 2022 / PRNewswire / – The global automotive cable and wire materials market is expected to show profitable growth opportunities over the projection period 2022 to 2032 exhibiting an opulent CAGR of 6.1%, the market has been valued at US $ 4,535.0 million in 2021 and is expected to exceed US $ 8,732.3 million by 2032. Based on material type, the PVC segment is expected to account for more than 46.9% of the global automotive wire and cable materials market share over the assessment period.
According to historical data published by the FMI, the global automotive cable and wire materials market grew at a stable CAGR of 3.4% between 2014 and 2021. Compared to current estimates, the materials market for cables and wires for cars will reach US $ 4,830.3 million in 2022. According to the IMF, the market for automotive cable and wire materials is expected to grow 1.8 times in 2032, compared to 2022.
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The automotive cables and cables market is expected to grow at a phenomenal rate of growth, attributable to improved production of passenger cars and commercial vehicles around the world, particularly in North American and Asian countries. According to reports from the India Brand Equity Foundation (IBEF), around 10 million electric vehicles could be sold annually by 2030 and 4 million by 2025.
Global automobile production is primarily driven by rising disposable income and improving economic conditions in various countries. In addition, growing concerns have been raised about the increase in greenhouse gas emissions due to the increase in vehicle fleets and rising carbon emissions from the road sector, which has pushed car manufacturers towards green mobility.
The digitization of vehicles has been immensely improved thanks to the increased development of modern technologies which is creating multiple opportunities for manufacturers of electrical system components and automotive wire and cable. This increasing surge is further pushing vehicle electrification which has managed to create high growth opportunities for companies in the global wire and cable materials market.
In addition to this, the introduction of hybrid and flexible fuel vehicles and connected cars would drive the global market for automotive wire and cable materials during the evaluation period. Digital technologies are being used extensively to improve the automotive sector, the replacement of copper by aluminum in battery cables and the development of bio-based plasticizers for PVC production are some of the other more recent trends in the cable materials market. and automotive wires.
Demand for automotive cables and wires is increasing due to several factors, including increased vehicle production, increased vehicle electrification, and the growing development of electrical systems in vehicles, especially in developing economies. development like India And China.
In addition to this, a reasonable increase in the number of emissions and safety regulations implemented by government bodies is driving demand for effective wiring systems in the automotive sector, thus creating new growth opportunities for cable and cable market players. automotive.
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With the presence of various manufacturers of large, medium and small sizes, the global automotive cable and wire materials market is gaining momentum. Major market players are focusing on collaboration and collaboration with vehicle manufacturers to get better market opportunities.
Several other key market players are engaging in mergers and acquisitions and new product developments to find innovative materials to meet the unsatisfied demand of a wide range of industries.
Further information on the Automotive cable and wire materials market
The US is expected to account for more than 1/10 of the global automotive cable and wire materials market in 2022. Due to different regulations implemented by the US government and efforts by private organizations have led to reduced emissions of vehicle carbon which is an important factor driving sales in the country. In addition, the presence of a well-developed infrastructure and continuous development in the automotive sector in the United States is driving the market for wire and cable materials.
China it is expected to excel at an impressive 6.7% CAGR in 2022, IMF believes. China it is considered the hub for global vehicle manufacturers. Aside from that, the country is a leading exporter of wire and cable and a leading producer of electric and hybrid vehicles. Therefore, the mass production of electric and hybrid vehicles in the country is expected to drive the demand for wire and cable materials in the Chinese market.
Key Segments Covered in the Automotive Wire & Cable Materials Market Analysis
By type of material:
By vehicle type:
South Asia Pacific
Middle East & Africa
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Table of contents
1. Executive summary
1.1. Global market perspectives
1.2. Lateral trends in demand
1.3. Supply-side trends
1.4. Roadmap of materials
1.5. Analysis and Recommendations
2. Market overview
2.1. Market coverage / Taxonomy
2.2. Market definition / scope / limitations
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Product innovation / development trend
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. USP / Product Features
4.3. Strategic promotional strategies
5. Analysis of Global Automotive Wire and Cable Materials Market Demand 2014-2021 and Forecast, 2022-2032
5.1. Historical market volume analysis (‘000 units), 2014-2021
5.2. Current and future market volume projections (‘000 units), 2022–2032
5.3. Growth trend analysis on an annual basis
6. Global Automotive Cable and Wire Materials Market – Price Analysis
6.1. Regional price analysis by type of material
6.2. Global average price analysis benchmark
7. Analysis of the global market demand for automotive cable and wire materials (in value or size in millions of US dollars) 2014-2021 and forecasts, 2022-2032
7.1. Historical Market Value Analysis (million US dollars), 2014-2021
7.2. Current and Future Market Value Projections (US $ Million), 2022–2032
7.2.1. Growth trend analysis on an annual basis
7.2.2. Analysis of absolute $ opportunities
Information on FMI – Automotive and Transportation
FMI’s Automotive and Transportation division provides exclusive coverage and useful insights into the automotive and transportation industry that encompasses the automotive, aviation, maritime, maritime and rail sectors. Market insights and competitive insights from OEMs, aftermarket, service and technology landscape have helped numerous industry stakeholders, from automakers, component manufacturers, channel partners and service providers, to make informed decisions and keep them updated on market behavior.
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