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The automotive cables market has experienced substantial growth, escalating from $5.74 billion in 2023 to $6.14 billion in 2024, reflecting a CAGR of 6.9%. This growth in the historical period can be attributed to robust economic expansion in emerging markets, a conducive low-interest rate environment, increasing global population, a surge in automobile demand, government support for the automobile industry, and rising demand for enhanced user comfort, safety, and convenience. The market is poised for continued robust growth in the coming years, reaching $8.19 billion in 2028 at a CAGR of 7.5%. Factors driving this growth include global population growth and urbanization, rapid expansion in e-commerce, favorable government initiatives, a focus on car accessories, and an emphasis on electric vehicles (EVs). Key trends in the forecast period involve considering the use of aluminum for cable manufacturing to reduce weight, developing sheathed cables using advanced materials, focusing on private and public funding, and prioritizing the modernization of cable testing systems.

The automotive cables market is experiencing growth driven by the increasing demand for automobiles. These cables play a crucial role in various automotive functions, including starting, charging, lighting, and signaling. For example, battery cables connect the car’s battery to its electrical system. According to the October 2022 report by the Indian Brand Equity Foundation (IBEF), the production of passenger vehicles in India reached 2,081,148 units in June 2022. The expanding automotive market, with an estimated passenger car market size of US$ 32.70 billion in 2021, projected to grow to US$ 54.84 billion by 2027, fuels the demand for automotive cables.

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What Are The Key Trends That Influence Automotive Cables Market Share Analysis?

In the automotive cables market, companies are transitioning from copper to aluminum for battery cables to cut manufacturing costs and reduce weight. Aluminum is significantly lighter and less expensive than copper, without impacting cable performance. In October 2021, Toyota Boshoku Corporation, a Japan-based automotive component manufacturer, adopted aluminum electrical wires to lower vehicle weight and improve environmental performance.

Which Market Players Are Driving Growth In The Automotive Cables Market?

Major companies operating in the automotive cables market report are Sumitomo Corporation, Prysmian Group – General Cable, Leoni AG, Lear Corporation, Aptiv Group – Delphi Automotive PLC, Furukawa Electric, Motherson Sumi, LS Cables & Systems, HUBER+SUHNER., Acome, Yazaki Corporation, Fujikura Ltd. , Robert Bosch, HELLA GmbH & Co. KGaA, Coroplast Harness Technology Sp. z oo sp. k, EK Elektrokabel FABRYKA KABLI Karolak i synowie sp. z o.o., Coroflex Poland Sp. z o.o Sp. k. , Eltrim Kable Sp. z o. o, Anixter, Allied Wire & Cable Inc, Emcocables, Navcar S.A.S , Wirex Cable SA, Sistemas de Argentina S.A, ARJ Water Technology LLC, Fajr Al Hind LLC, Haji Commercial Co LLC, Bahra Cables, Coficab Group

How Is The Global Automotive Cables Market Segmented?

The automotive cables market covered in this report is segmented –

1) By Product Type: Copper Core, Aluminum Core, Other Product Types
2) By Sales Channel: Direct Channel, Distribution Channel
3) By Application: Automotive Primary Wire and Battery Cable, Brake Cable, Trailer Cable, Car Speaker Wire, Fusible Link Wire

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The Automotive Cables Global Market Report 2024 provides an overview of the automotive cablesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive cables market forecast analyzes automotive cables market size, automotive cables market share, leading competitor and their market positions.

The Table Of Content For The Automotive Cables Market Include

1. Automotive Cables Market Executive Summary
2. Automotive Cables Market Segments
3. Automotive Cables Market Size And Template Market Growth Rate
4.  Key Automotive Cables Market Trends
5. Major Automotive Cables Market Drivers
……
25. Key Mergers And Acquisitions In The Automotive Cables Market
26. Top Automotive Cables Companies
27. Automotive Cables Market Opportunities And Strategies
28. Automotive Cables Market, Conclusions And Recommendations
29. Appendix

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