Dublin, Dec. 31, 2024 (GLOBE NEWSWIRE) -- The "Automotive Wires & Cables Market: Market Size, Trends, Opportunities and Forecast by Application, Vehicle Type, Propulsion Type, Region, By Country: 2020-2030" report has been added to ResearchAndMarkets.com's offering.
Global Automotive Wires & Cables Market was valued at USD 36.02 billion in 2023 and is expected to grow at a CAGR of 5.3% during 2025-2030.
The Automotive Wires & Cables Market is growing steadily, driven by the increasing complexity of automotive electrical systems and the rising demand for electric and hybrid vehicles. Automotive wires and cables are essential components in modern vehicles, serving to transmit electrical power and signals between various parts of the vehicle, including the engine, lighting, infotainment systems, and safety features. As vehicles become more advanced, with features such as autonomous driving, connected car technology, and enhanced infotainment systems, the demand for high-quality wires and cables has surged.
One of the primary drivers of the market is the growing demand for electric and hybrid vehicles, which require more complex wiring systems compared to traditional internal combustion engine vehicles. Electric vehicles (EVs) rely heavily on wiring to transmit electrical power from the battery to various components, including the motor and charging systems. As governments around the world promote the adoption of EVs through incentives and stricter emissions regulations, the demand for automotive wires and cables is expected to rise significantly.
In addition to the EV boom, the increasing integration of advanced driver assistance systems (ADAS) and connected car technologies has further propelled the market for automotive wires and cables. These systems rely on high-speed data transmission and require sophisticated wiring solutions to function efficiently. The automotive industry's focus on safety, connectivity, and electrification is expected to continue driving the demand for innovative wire and cable solutions.
Geographical Insights
The Asia-Pacific region dominates the Automotive Wires & Cables Market, driven by the rapid growth of the automotive industry in countries like China, Japan, and South Korea. The region's strong focus on electric vehicle production and the increasing adoption of connected car technologies have contributed to market growth. The Americas also hold a significant share, particularly in the U.S., where the demand for electric vehicles and advanced automotive technologies is on the rise.
Key Companies
The report assesses the competitive developments, strategies, mergers and acquisitions and new product development and market share portfolio of top 15 companies.
Reasons to buy this report:
- In-Depth Comparative Assessment of Top 20 Markets in the Automotive Wires & Cables Market Vehicle Type: Comparative assessment of 20 leading countries highlighting the total addressable market, opportunities, lucrative segments and competitive positioning of leading companies.
- Comprehensive Historical, Present, and Future Analytics of the Automotive Wires & Cables Market: A deep dive in the historical (2020-2023), current (2024) and forecast (2025-2030) market analytics of Automotive Wires & Cables Market.
- Detailed Analysis of Automotive Wires & Cables Market By Application, Vehicle Type, and Propulsion Type Across 20 Countries
- Beyond the Purchase: 90 Days of Support
- Direct Access to Analysts: Have questions after reading the report? Our expert analysts are just a call or email away.
- Customized Assistance: Whether you're integrating insights into your strategy or have questions about market dynamics, our team provides tailored support to meet your specific business needs.
- Data Customization Requests: During the support period, you have the flexibility to request additional data cuts or deeper dives into specific areas of interest.
- Gain insights specific to new entrants or new market areas to tap: The study provides detailed market entry strategies, including analysis of barriers to entry, pricing strategies, opportunities, trends, drivers, and challenges and product positioning using the Opportunity Portfolio Matrix (OPM)
- Strategic Vehicle Type Movements: Tracking Competitive Developments and Key Players in the Market: The report covers competitive strategies, mergers & acquisitions, new developments, future plans and market share analysis of ~15 top companies.
Key companies in the Global Automotive Wires & Cables Market include:
- Yazaki Corporation (Japan)
- Allied Wire & Cable (The U.S)
- Aptiv plc (The U.S)
- Coroplast Fritz Muller GmbH & Co. KG (Germany)
- Leoni AG (Germany)
- Lear Corporation (The U.S)
- Draka Holdings B.V. (Netherlands)
- ACOME (France)
- Coficab (China)
- Sumitomo Electric Industries, Ltd (Japan)
Market Segmentation
By Application:
- Chassis & Safety
- Body
- Engine
- HVAC
- Other Applications
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Other Vehicle Types
By Propulsion Type:
- Conventional
- New Energy Vehicles
By Geography:
- Americas (The United States, Canada, Brazil, Mexico, Rest of Americas)
- Europe (United Kingdom, Germany, France, Italy, Spain, Turkey, Russia, Rest of Europe)
- Asia Pacific (China, Japan, South Korea, India, Singapore, Indonesia, Rest of Asia Pacific)
- Middle East and Africa (GCC, Israel, South Africa, Rest of Middle East and Africa)
For more information about this report visit https://www.researchandmarkets.com/r/irj9fh
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