- Focus of top companies in cable assembly market on high-value applications, such as high performance computing, core routing, and artificial intelligence to open vast revenue streams
- Superior reliability, durability, and all-round high quality of cable assembly demonstrates their significance for interconnecting electronic equipment, components, and systems
WILMINGTON, Del., Sept. 1, 2022 /PRNewswire/ -- The cable assembly market is projected to expand at a CAGR of 6.2% during the forecast period from 2022 to 2031. Integral role of cable assemblies in the production of diverse products, ranging from home electronics to wearables is driving the cable assembly market. Cable assemblies are extensively used in mass production, and are useful in saving time for an entire machine or individual equipment, due to numerous advantages such as high performance, minimal wastage of cable, and ease of set up among others.
Range of attributes of cable assembly that make them significant for interconnecting electronic equipment, systems and components influences cable assembly market size. Cable assemblies feature an extensive range of connectors and terminals, which helps control input, output, data, and electrical current in an efficient and effective manner.
Asia Pacific is at the forefront of global cable assembly market due to the presence of large number of cable assembly manufacturers in Japan, India, and China.
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Cable Assembly Market - Key Findings of the Report
- Stringent hygiene regulations in the food & beverage industry necessitates use of highly corrosive cleaning agents and chemicals to clean and sanitize machines and equipment. This involves extensive use of cable assembly for the equipment to withstand chemical stress, thermal stress, and mechanical stress.
- Increasing demand for cable assembles in the food & beverage industry for use in warming and heating equipment, mixers, and slicers is likely to expand growth frontiers. Attributes of increased productivity, minimized downtime, and increased safety for employees stimulate the adoption of cable assembles in the food and beverage industry.
- Large power requirement of electronic equipment demonstrates significance of conductor in custom cable assemblies. Small and large cable harness manufacturers are focused on the development of custom cable assemblies due to their compatibility with advanced electronic appliances as well as compact devices. Thus, increasing use of custom cable assembly is likely to stimulate the cable assembly market during the forecast period.
- Custom cable assemblies segment dominates the cable assembly market due to their attributes of space saving and reduced weight of cables. Moreover, custom cable assemblies offer saving of assembly time by eliminating cable ties and cable loops, and at the same time improve performance and safety. Availability of custom industrial cables and assemblies in various configurations presents value-grab opportunities from automotive, industrial control and instrumentation systems, personal computers, and telecommunication applications.
- Automotive end-use industry dominates the cable assembly market due to increased use of copper cable assemblies in gear boxes, mirror, and side mirror among other components of motor vehicles. Significance of coaxial cable assemblies, radio frequency (RF) cable assemblies for infotainment systems, and significance of low voltage differential signalling cable assemblies for in-car display devices boosts the automotive segment of cable assembly market.
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Cable Assembly Market - Growth Drivers
- Integral role of cable assembly in mass production of advanced electronic products is propelling the cable assembly market
- Ability of cable assembly to withstand tough external conditions, and virtue to save time in assembling an entire machine drives demand from several end-use industries
Cable Assembly Market - Key Players
Some of the key players operating in the cable assembly market are;
- 3M Company
- Amphenol Corporation
- Carlisle Interconnect Technologies
- DC Electronics
- Fischer Connectors SA
- Minnesota Wire Company
- PSC Electronics
- Smith's Interconnect Inc.
- TPC Wire & Cable Corp.
- Walker Component Group Inc.
- AFCI
- Cable Manufacturing & Assembly Co.
- Carrio Cabling
- Epec LLC
- Infineon Technologies AG
- Molex LLC
- Samtec
- Te Connectivity
- W.L. Gore & Associates Inc.
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The cable assembly market is segmented as follows;
Cable Assembly Market, by Type
- Discrete Wire Assemblies
- Optic Cable Assemblies
- RF Cable Assemblies
- Ribbon Cable Assemblies
- Coaxial Cable Assemblies
- Custom Cable Assemblies
- Others
Cable Assembly Market, by End-use Industry
- Automotive
- IT & Telecommunication
- Aerospace and Defense
- Healthcare
- Industrial
- Others
Cable Assembly Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Electronics and Semiconductors Research Report
Wire and Cable Market - wire and cable market is expected to reach the value of US$ 285.05 Bn by the end of 2031, It is estimated to expand at a CAGR of 5.3% from 2021 to 2031.
Subsea Cables Equipment Market - subsea cable equipment market is projected to expand at a moderate CAGR of ~5% during the forecast period.
Fiber Optic Cable Market - Fiber Optic Cable Market is expected to expand at an exponential CAGR of 7% during the forecast period of 2020-2030. It is accounted to cross US$ 15Bn by 2030.
Cable Management Accessories Market - Cable Management Accessories Market is estimated to reach a value of ~US$ 2.9 Bn by 2027, expanding at a CAGR of ~8% during the forecast period.
Sensing Cable Market - Sensing Cable Market is projected to expand at a CAGR of more than 6% during the forecast period, and reach a value of more than US$ 1,300 Mn by 2027.
Ceramified Cable Market - The market for ceramified cable is forecast to grow steadily to become US$ 277.0 Mn by 2026 from US$ 175.8 Mn in 2017, at a CAGR of 5.2%.
OPGW Cable Market - OPGW cable market is expected to reach US$ 797.1 Mn by 2026. The market is projected to expand at a CAGR of 5.07% during the forecast period from 2018 to 2026.
Marine Cables and Connectors Market - Marine Cables And Connectors Market was estimated at US$ 8869.8 Mn in the year of 2016 and is anticipated to expand at a CAGR of 5.3% throughout the forecast year.
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