Automotive Cables Market Players Ignite Business Growth By Focusing On Improving Efficiency

The Business Research Company’s Automotive Cables Market 2022 – Opportunities And Strategies – Global Forecast To 2031

LONDON, GREATER LONDON, UK, October 24, 2022 /EINPresswire.com/ -- Aluminum-based cables are becoming more popular in the automotive cables market. Aluminum cables are 40% lighter than conventional copper wires and can reduce the weight of wires from 25 kg per vehicle to about 15 kg. Companies are increasingly focusing on ways to achieve weight reduction in vehicles and improve efficiency in the manufacturing process of vehicles. For instance, in 2020, South Korean-based cable manufacturer, LS Cable & System, started mass-producing aluminum wires for electric vehicles. The company strongly believes that aluminum will become a key material for vehicles amid growing competition in the EV industry.

Poly-Vinyl Chloride (PVC) is increasingly used to make sheathing for automotive cables as it is flexible, flame retardant, has great thermal stability, and extremely low lead content. Due to current economic and environmental concerns, automotive manufacturers are incorporating advanced plastic materials such as PVC to reduce weight, make vehicles more fuel efficient, and provide good thermal and electrical properties. For instance, Lapp has produced OLFLEX 408P and 409P cables with the outer sheath made up of polyurethane providing abrasion-resistance and oil-resistance along with an inseparable PVC layer below it to provide improved mechanical tear behavior. This sheath gives better protection to the core insulation in harsh conditions.

Read more on the Global Automotive Cables Market Report
https://www.thebusinessresearchcompany.com/report/automotive-cables-market

The global automotive cables market size is expected to grow from $5.07 billion in 2021 to $7.01 billion in 2026 at a rate of 6.7%. The global automotive cables market share is then expected to grow at a CAGR of 8.3% from 2026 and reach $10.46 billion in 2031.

Growth of population globally is expected to drive the demand for automotive cables going forward. An increase in population boosts the need for various transportation methods, including automotive. With increasing population, the trade and commerce activities increase globally driving demand for a number of commercial vehicles used in logistics, construction, agriculture and others. According to data from the UN, the world population is expected to reach 9.8 billion by 2050. The rising urbanization is also expected to contribute to the growth of the market in the forecast period. The rapid growth in urbanization and global population especially in the developing economies is expected to generate high demand for the automotive cables market.

Major players covered in the global automotive cables industry are Sumitomo Corporation, Prysmian Group - General Cable, Leoni AG, Lear Corporation, Aptiv Group - Delphi Automotive PLC.

TBRC’s automotive cables market report is segmented by product type into copper core, aluminum core, other product type, by sales channel into direct channel, distribution channel, by application into automotive primary wire and battery cable, brake cable, trailer cable, car speaker wire, fusible link wire.

Automotive Cables Market 2022 – By Product Type (Copper Core, Aluminum Core, Other Product Types), By Sales Channel (Direct Channel, Distribution Channel), By Application (Automotive Primary Wire and Battery Cable, Brake Cable, Trailer Cable, Car Speaker Wire, Fusible Link Wire), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a automotive cables market overview, forecast automotive cables market size and growth for the whole market, automotive cables market segments, geographies, automotive cables market trends, automotive cables market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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