Global Cable Assembly Market 2018-2022 | Increasing Demand for Electric Vehicles Drives Growth | Technavio
LONDON--(BUSINESS WIRE)--Jun 13, 2018--The global cable assembly market is expected to register a CAGR of over 6% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global cable assembly market from 2018-2022. (Graphic: Business Wire)
A key factor driving the market’s growth is the increasing demand for electric vehicles. The automotive industry is a major end-user of cable assemblies. Each vehicle uses several cable assemblies for different connections. The growing focus on the environment and the depletion of fossil fuel reserves has increased the sales of electric vehicles in the last 10 years.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing demand from the aerospace industry as one of the key emerging trends in the global cable assembly market:
Global cable assembly market: Increasing demand from the aerospace industry
The increasing demand for cable assemblies from the aerospace industry drives the growth of the global cable assembly market. Air traffic across the world has grown considerably in the last few years. The increasing number of airports and air carriers have led to an increase in the use of transport even by the middle-class population. The high demand for air travel and cargo transport has increased the profits of air carriers and investments in the aerospace industry rapidly.
“With the growth of air traffic and the increasing number of airports, there has been a significant increase in the demand for new aircraft. Many air carriers are ordering new aircraft to expand their commercial and cargo fleets. However, the aircraft manufacturers are not able to meet the increasing demand even by operating at maximum efficiency,” says a senior analyst at Technavio for research on IT hardware.
Global cable assembly market: Segmentation and analysis
This market research report segments the global cable assembly market into the following products (application specific, rectangular, and RF), applications (automotive, consumer electronics, telecom/datacom, and industrial), and key regions (the Americas, APAC, and EMEA).
The application-specific segment held the largest market share in 2017, accounting for more than 30% of the market. This product is expected to dominate the global market throughout the forecast period.
APAC held the highest share of the global cable assembly market in 2017, accounting for a market share of approximately 52%. The market share occupied by this region is anticipated to increase by around 2% during 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket sizing Market size and forecast
Five Forces Analysis
Geographical segmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 06/13/2018 11:26 AM/DISC: 06/13/2018 11:26 AM