Wilmington, Delaware, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global cable assembly market was estimated at a value of US$ 163.8 billion in 2021. It is anticipated to register a 6.2% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 292.6 billion by 2031.
In order to support electrical load over the product's lifespan, custom cable assemblies require a metallic conductor. To endure high humidity, high temperatures, electromagnetic interference (EMI), water, salty, particulates, vibration, or any of these conditions, specialized cables must have heavy-duty connections.
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Due to the high power required for electronic equipment, a bigger conductor is necessary to safeguard the cable and electronic devices from harm, which is why conductors in customized cable assemblies are so important. Custom cable assemblies are in more demand as a result. Since customised cable assemblies are made to handle many functions, such as power, signal, and voltages, etc., they are necessary for electronic appliances like home entertainment systems to function at their best.
Global Cable Assembly Market: Key Players
A limited number of large-scale suppliers in the fragmented global cable assembly industry holds the majority of the market share. Key players have embraced mergers & acquisitions and product portfolio expansion as important initiatives. The following companies are well-known participants in the global cable assembly market:
- Akzo Nobel N.V.
- Cargill, Incorporated
- Compass Minerals International, Inc.
- K+S AKTIENGESELLSHCAFT
- Tata Chemicals Limited
- Wacker Chemie AG
- Südwestdeutsche Salzwerke AG
- The Henrique Lage Salineira do Nordeste
- INEOS Salts
- Maldon Crystal Salt Co.
- Dampier Salt Limited
- Swiss Salt Works AG
- Cheetham Salt
- Dominion Salt
Key Findings of the Market Report
- For the duration of the product's life, custom cable assemblies require a metallic conductor to support electrical load.
- Custom cables must have heavy-duty connections to endure vibration, water, salinity, particulates, electromagnetic interference (EMI), high humidity, and high temperatures.
- The conductor in bespoke cable assemblies is essential because the high power required by electronic devices necessitates a bigger conductor to prevent damage to the cable and gadgets.
- Custom cable assemblies are necessary for electronic appliances like home entertainment systems to run at peak efficiency.
Market Trends for Cable Assemblies
- The cable assembly market has been divided into several end-use industries, including automotive, IT and communications, aerospace and military, healthcare, and industrial. Due to the growing usage of copper cable assemblies in motor vehicles, such as gear boxes, doors, side mirrors, windows, headlights, etc., the automotive segment led the global cable assembly market.
- In-seat DVD players, global positioning systems, and Bluetooth connection are examples of infotainment systems that use RF and coaxial cable assemblies to assure appropriate operation. In-car display devices like radio displays and backup cameras also require power from low voltage differential signaling (LVDS) cable assemblies. The automotive segment of the cable assembly market is positively impacted by all of these variables.
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Global Market for Cable Assemblies: Regional Outlook
Various reasons are propelling the growth of the cable assembly market throughout the region. These are:
- Since many cable assembly producers were located in the nations, China, India, Japan, and others, the Asia Pacific region dominated the global market for cable assembly. Asia Pacific is leading the way in the use of cable assembly due to the surge in industry, urbanization, and the need for electric cars.
- Due to the rising need for cable assembly in military communications, the North America market is anticipated to expand significantly over the next several years.
- It is anticipated that the regional cable assembly market would grow due to an increase in demand for cable assemblies in the IT and telecommunications sectors.
Few of key developments by the players in this market are:
| Company name | Key Developments |
| Smith’s Interconnect |
|
| TE Connectivity (TE) |
|
| Molex |
|
Global Cable Assembly Market Segmentation
Type
- Discrete Wire Assemblies
- Optic Cable Assemblies
- RF Cable Assemblies
- Ribbon Cable Assemblies
- Coaxial Cable Assemblies
- Custom Cable Assemblies
- Others (Power Cable Assemblies, custom electro-mechanical, etc.)
End Use Industry
- Automotive
- IT and Telecommunication
- Aerospace and Defense
- Healthcare
- Industrial
- Others (Energy and Power, Consumer Electronics, etc.)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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