Global Automotive Control Cables Market 2018-2022 | Key Facts and Figures | Technavio

November 20, 2018

LONDON--(BUSINESS WIRE)--Nov 20, 2018-- analysts forecast the global automotive control cables market to grow at a CAGR of nearly 4% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

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Technavio has released a new market research report on the global automotive control cables market for the period 2018-2022. (Graphic: Business Wire)

Development in the field of automotive control cables is one of the major trends being witnessed in the . The automotive control cables market is witnessing developments in design, use of material, and the manufacturing process. Such trends in the automotive control cables market will make way for efficient control cables, which are not only more durable and reliable but also improve the efficiency of the overall system in which they are used.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global automotive control cables market is the cheap automotive control cables owing to the use of cost-effective materials and manufacturing process:

Global automotive control cables market: Cheap automotive control cables owing to the use of cost-effective materials and manufacturing process

Automotive control cables are cost-effective and inexpensive, which makes them affordable to be used in large volumes per vehicle. Additionally, the purchase of these control cables by automotive OEMs in bulk or masses makes the overall cost more affordable. This is one of the major factors promoting growth in the market.

According to a senior analyst at Technavio for research on automotive components, “OEMs use control cables made of different materials, such as steel or aluminum, depending upon the application and the vehicle type. The use of better quality material leads to improved working and function at required places. The cost of manufacturing is also less as these cables are made by wire drawing from wire rods, wherein high tensile spring steels of different grades are mainly used. In the manufacturing process, either steel or aluminum are put in various wire rods of the required diameter as the starting material. These wire rods are then passed through various intermediate stages of wire drawing, after which they are stranded to produce wire rope as per required specifications.”

Global automotive control cables market: Segmentation analysis

The global automotive control cables market research report provides market segmentation by application (passenger vehicle and commercial vehicles) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The passenger vehicle segment held the largest market share in 2017, accounting for nearly 79% of the market. This application segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 54%. This region is expected to dominate the market through 2022, with a 2% increase in its market share.

Looking for more information on this market?

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 Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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SOURCE: Technavio Research

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