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The global cable assembly market size is estimated to grow at a CAGR of 6.53% between 2022 and 2027 and the size of the market is forecast to increase by USD 72 billion.
This market research report extensively covers market segmentation by Product (application-specific, rectangular, rf, circular, and others), Application (automotive, consumer electronics, telecom and datacom, industrial, and others), and Geography ( APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
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The global cable accessories market is experiencing significant growth due to the rising demand for electric vehicles (EVs). Cable assemblies are essential components in various systems within a vehicle, including power supply, ignition, steering, braking, lighting, safety, and security. Additionally, the number of electronic components in vehicles, such as rear cameras and navigation systems, is increasing. The automotive industry is growing steadily worldwide, driven by countries in the Asia-Pacific (APAC) region, while the EV market is expanding at a much faster pace.
In recent years, the focus on promoting environmental sustainability and the depletion of fossil fuel reserves has resulted in a surge in EV sales. Technological advancements have reduced battery costs and improved EV efficiency, contributing to a rapid increase in sales in countries such as the US, Germany, China, the UK, and the Netherlands over the past decade. Furthermore, the availability of subsidies and low prices will likely drive further sales growth during the forecast period.
The advent of high-speed cable assemblies is trending in the market. The transmission of data is made possible through cable assemblies, which ensure fast and reliable communication. Recent technological advancements have paved the way for the development of high-speed cable assemblies. Leading companies such as Amphenol and Samtech offer high-speed cable assemblies suitable for a variety of applications including servers, storage, computers, switches, and other communication or data network devices.
For instance, Samtech's AcceleRate provides high-speed data transfer at speeds over 56 Gbps using pulse amplitude modulation with four-level (PAM4) speeds. Similarly, Amphenol offers various high-speed cable assemblies such as QSFP+ copper cable assemblies, SFP+ direct attach copper cable assemblies, and QSFP to 4 x SFP+ splitter cable. Additionally, TE Connectivity offers Pluggable I/O Cable Assemblies that support aggregate data rates of 25, 50, 100, and 200 Gbps. With the increasing demand for high-speed transmission in products such as computers and data centers, the demand for high-speed cable assemblies is expected to rise during the forecast period.
Challenges associated with the production of ultra-miniature RF cable assemblies may hinder the market growth. RF cable assemblies are extensively used in various applications such as video systems, military equipment, local-area networks (LANs), medical devices, and process controls, making them a significant contributor to the global cable assembly market. However, the trend toward miniaturization in the electronics industry has resulted in a reduction in the size of RF cable assemblies. Smartphones, tablets, and portable GPS devices are becoming smaller, thinner, and lighter with each passing day, and manufacturers are embedding various components to enhance their features. These devices typically feature ultra-small antennas and other components that offer wireless Internet, Radio Frequency Identification (RFID), and Bluetooth services. Ultra-miniature RF cable assemblies are used to connect these small antennas and components to the circuit board of electronic devices. However, manufacturers face a significant challenge in maintaining the accuracy and reliability of their products while working with tiny wires and components.
The thickness of the RF cable assembly must be limited, which presents an additional challenge for manufacturers. The quality of ultra-miniature cable assemblies is also a significant concern during manufacturing. The quality of RF cable assemblies can be affected by even the smallest changes in strip length and diameter, making accuracy critical. Therefore, the challenges associated with the production of ultra-miniature RF cable assemblies will impact the growth of the market.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cable Assembly Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M- The company offers cable assemblies such as industrial camera cable assemblies, MDR and SDR cable assemblies, and molded-on cable assemblies.
The cable assembly market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the application-specific segment will be significant during the forecast period. The demand for application-specific cable assemblies will increase moderately during the forecast period. Application-specific cable assemblies are designed for very specific uses and are custom-made. These cable assemblies are majorly used in automotive, medical, telecommunication, military and defense, and other industries.
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The application-specific segment showed a gradual increase in market share from USD 42.60 billion in 2017 and continued to grow by 2021. Application-specific cable assemblies are used in places where normal cable assemblies cannot be used. For instance, application-specific cable assemblies are used in defense/military vehicles that are made to suit harsh environments and extreme climatic conditions. The demand for application-specific cable assemblies is expected to increase from the defense sector to cater to the need for custom designs and specific characteristics. The complex design of electric and electronic equipment will also increase the demand for application-specific cable assemblies. However, the introduction of advanced cable assemblies, which are suitable for multiple applications, will reduce the demand for application-specific cable assemblies during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
Cable assemblies are widely used in the automotive industry for a variety of applications. Autonomous vehicles and EVs use several cable assemblies for various connections. One of the major factors which is driving the demand for cable assemblies in the automotive industry is the increased market attraction for autonomous, electric, and hybrid vehicles. OEMs are rapidly investing in the production of these vehicles to capitalize on the growing demand for safe, green, and more connected vehicles. EVs use a higher number of cable assemblies than internal combustion engine (ICE) vehicles, as they require a greater number of cable connections for batteries and other related circuits. The demand for cable assemblies is proportional to the growth of the automotive industry. Thus, the growth in the sales of EVs will drive the growth of the global cable assembly market during the forecast period.
APAC is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The cable assembly market in APAC will grow rapidly during the forecast period. Countries such as China, Japan, South Korea, and India will drive the growth of the market in this region. OEMs from industries such as automotive, consumer electronics, telecom, and manufacturing are the major buyers of cable assemblies. These buyers will boost the demand for cable assemblies in this region during the forecast period. Another major factor that drives the growth of the market in this region is the rising investments in telecommunication network infrastructure. Some of the major telecommunication network equipment providers in the region are Huawei Technologies Co. Ltd. (Huawei), Nokia Corp. (Nokia), ZTE Corp. (ZTE), and SK Telecom Co. Ltd. (SK). These companies are aggressively investing in the development of telecommunication network infrastructure in the region.
The outbreak of COVID-19 in 2020 had an adverse effect on the growth of the APAC cable assembly market. However, in the last quarter of 2020, various APAC countries lifted restrictions on businesses, allowing vendors to resume operations while following mandatory COVID-19 social distancing guidelines and limiting non-essential visitors to their premises. As manufacturing units reopened with the easing of lockdowns, the demand for cable assembly increased.
Cable assemblies find applications in a wide range of industries, including the automotive sector, where they are used in headlights, gearboxes, and doors. Hence, the resumption of the automotive industry is expected to have a positive impact on the growth of the cable assembly market in APAC during the forecast period.
Our cable assembly market report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product, application, and region.
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Cable Assembly Market Scope |
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Report Coverage |
Details |
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Page number |
182 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.53% |
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Market growth 2023-2027 |
USD 72 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.14 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 59% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Amphenol Corp., Aptiv, BizLink Holding Inc, Cablecraft Motion Controls LLC, Carlisle Companies Inc., Carrio Cabling Corp., Copartner Tech Corp., Corning Inc., Fischer Connectors Holding SA, Japan Aviation Electronics Industry Ltd., Koch Industries Inc., Minnesota Wire & Cable Co., Nexans SA, NKT AS, Prysmian Spa, RF Industries Ltd., Samtec Inc., Smiths Group Plc, TE Connectivity Ltd., and W. L. Gore and Associates Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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