Home > Automotive & Transportation > Automotive Data Cables Market
Industry Statistics
Automotive Data Cables Market size valued at USD 7 billion in 2022 and is anticipated to grow at over 10% CAGR from 2023 to 2032.
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The widespread incorporation of electronic systems in automobiles is likely to accelerate product penetration. Notably, the proliferation of connected vehicles and supportive government collaborations to improve infrastructure for connected vehicles via technologies, including Vehicle to Vehicle (V2V) and Vehicle to Infrastructure (V2I), is primed to fuel the deployment of electronic components in a vehicle, strengthening the automotive throttle cables market outlook.
Moreover, the majority of premium automobile companies operating in the market, such as Ford Motors, General Motors Company, Toyota Motor Corporation, Volkswagen AG, Audi AG, and Daimler AG, have been expanding their manufacturing facilities globally. This has increased sales of their premium and luxury vehicles.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 7 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 10% |
| 2032 Value Projection: | USD 20 billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 279 |
| Segments covered: | Cable, Vehicle, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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High prevalence of cybersecurity threats may restrain industry progression
The rise in cybersecurity threats for connected vehicles will drive the automotive data cables market growth. The recent surge in data vulnerability in automobiles has propelled the need for robust cybersecurity. This has augmented the complexity of software used in connected vehicles, providing advanced functionality, and offering more opportunities for hackers to deploy malware to hack the vehicle. Nonetheless, favorable government initiatives to scale-up production and aid companies in meeting prevalent consumer demand are enabling firms to test new technologies for enhanced mobility, which is foreseen to combat the issue in the coming years.
Technological advancements in CAN-FD to push market expansion
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In terms of cable, the automotive data cables market from CAN-FD segment is slated to observe a growth rate of over 13% between 2023 and 2032. Consistent advancements in CAN-FD technology by market players owing to its data transmission abilities in lesser time are propelling segment growth.
Surging integration of advanced communication systems to help the commercial vehicles segment gain traction
In terms of vehicles, the commercial vehicles segment is anticipated to grow at around 14% gains through 2032. The segment is gaining positive attention as a result of the integration of advanced communication systems into vehicles by several truck manufacturers, which is boosting the uptake of automotive data cables. Furthermore, the growth of end-user industries is also escalating significant demand for commercial vehicles.
Increasing demand for EVs to bolster powertrain applications
The powertrain application captured above 34% of the market share in 2022. The modern powertrain system is monitored and managed through an onboard computer network. Automotive OEMs are adopting advanced electronics devices & circuits with high-data requirements due to recent technology evolution. The snowballing demand for electric vehicles is further promoting new powertrain businesses.
Development in autonomous mobility to help Europe emerge as a prominent revenue pocket
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Europe automotive data cables market is estimated to attain a CAGR of nearly 10% through 2032. The strong presence of prominent automotive players who are investing highly in R&D projects for autonomous mobility is impelling regional market expansion. To cite an instance, in March 2022, Horizon Europe granted USD 11.8 million to the research consortium ROADVIEW for solving challenging autonomous driving problems using AI.
Product innovations to foster the market outlook
Major participants operating in the automotive data cables industry are ACOME Group, Aptiv PLC, Belden Incorporated, Coficab group, Condumex S.A. de C.V., Coroplast, Amphelone Corporation, General Cable Technologies Corporation, Furukawa Electric Industries Ltd., Champlain Cable Corporation, Gebauer & Griller Kabelwerke GesmbH, HUBER+SUHNER AG, Lear Corporation, ITC Thermo Cable GmbH, Leoni AG, SALCAVI S.p.A., Prysmian Group, Sampsistemi S.R.L, Sumitomo Electric Industries, Waytek, Inc., and Yazaki Corporation.
These leaders majorly focus on diversifying their product portfolio, undertaking acquisitions and mergers, and collaborating on strategic initiatives to maintain their business standing. For instance, in July 2022, ZF, an automotive parts manufacturer, introduced by-wire technologies for future mobility. ZF steer-by-wire systems offer modern safety and comfort features, such as autonomous emergency evasive maneuvers and parking in confined spaces.
Impact of COVID-19 on the automotive data cables market trends
The COVID-19 pandemic impacted the industry negatively on account of disruptions in manufacturing processes and stringent lockdowns restricting transportation. However, a decline in coronavirus cases and an upsurge in disposable income of people bolstered passenger vehicle sales and boosted the automotive industry growth, particularly in terms of improving vehicle connectivity. In addition, companies continuously engaged in rigorous R&D projects that further driven the demand for automotive data cables.
For instance, in October 2021, prominent semiconductor manufacturer NXP introduced CAN SIC technology that enables CAN FD networks to operate in larger, more complex networks while accelerating achievable data rates by actively improving the CAN signal.
The automotive data cables market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032, for the following segments:
Market Insights, By Cable
- Controller Area Network (CAN)
- Controller Area Network Flexible Data-Rate (CAN-FD)
- FlexRay
- Ethernet
- Low Voltage Differential Signaling (LVDS)/High Speed Data (HSD)
- Coaxial Cables
Market Insights, By Vehicle
- Passenger Vehicles
- Commercial Vehicles
Market Insights, By Application
- Powertrain
- Body Control & Comfort
- Infotainment & Communication
- Safety & ADAS
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- Japan
- South Korea
- India
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- GCC
- Turkey
- South Africa
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