Meticulous Research®—a leading global market research
company, published a research report titled, ‘Cable Assembly Market by Product
Type (Rectangular, Coaxial, Fiber Optic, Power, Modular, FFC/FPC, Telephone),
End-use Equipment (Computers & Peripheral, Medical, Industrial, Automotive,
Transportation, Telecom, Datacom), Geography - Global Forecast to 2031.’
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According to this latest publication from Meticulous
Research®, the global cable assembly market is projected to reach $299.2
billion by 2031, at a CAGR of 6.3% from 2024 to 2031. The growth of this market
is driven by the increasing demand from the aerospace industry and growing
internet penetration across the globe. Additionally, the expansion of
telecommunications infrastructure, increasing demand for custom cable
assemblies, growing number of electric vehicles, and increasing adoption of
data centers are expected to create market growth opportunities. However,
competition from wireless technologies may restrain the growth of this market.
The availability of counterfeit products is a major challenge for the players
operating in this market.
Additionally, the miniaturization of cable assemblies and
the high adoption of Industry 4.0 technologies are the key trends in the cable
assembly market.
The global cable assembly market is segmented by offering,
application, and end-user industry. The study also evaluates end-user industry
competitors and analyzes the market at the region/country levels.
Based on product type, the global cable assembly market is
broadly segmented into rectangular cable assemblies, radio frequency
(RF)/coaxial cable assemblies, ribbon cable assemblies, fiber optic cable
assemblies, power cable assemblies, custom cable assemblies, circular cable
assemblies, barrel connector cable assemblies, video cable assemblies, USB
cable assemblies, modular cable assemblies, FFC/FPC jumper cable assemblies,
pre-crimped leads assemblies, printed circuit board (PCB) assemblies, telephone
cables assemblies, and other product types. In 2024, the rectangular cable
assemblies segment is expected to account for the largest share of the global
cable assembly market. The large market share of this segment is attributed to
the growing connectivity requirements and increasing use of rectangular cables
in vehicles, industrial automation systems, machinery, and equipment to
transmit power, signals, and data between different components.
However, the fiber optic cable assemblies segment is
projected to register the highest CAGR during the forecast period due to the
increasing demand for high-speed internet and data-intensive applications, the
growing need to interconnect servers and data storage systems within data
center facilities, the increasing use of fiber optic cables in data centers,
industrial automation systems for connecting sensors, actuators, and
controllers, growing applications of fiber optics in broadcast and audiovisual systems,
telecommunications networks for long-distance transmission, and enterprise
networks to support high-speed LAN connections, interconnect multiple office
locations, and provide connectivity.
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Based on end-use equipment, the global cable assembly market
is broadly segmented into computers & peripheral equipment, business &
office equipment, medical equipment, instrumentation equipment, industrial
equipment, automotive equipment, power equipment, transportation electronics
equipment, military & aerospace equipment, telecom equipment, datacom
equipment, consumer electronic equipment, and other equipment. In 2024, the
automotive equipment segment is expected to account for the largest share of
the global cable assembly market. The large market share of this segment is
attributed to the rising demand for electric vehicles, increasing
electrification of vehicles, increasing need to create wiring harnesses that
organize and route electrical wires and cables within the vehicles, and growing
integration of ADAS technologies and in-vehicle infotainment (IVI) systems.
However, the datacom equipment segment is projected to
register the highest CAGR during the forecast period due to the growing use of
fiber optic cables to support high-speed data transmission and enable efficient
interconnection between different data center components, expansion of data
center facilities to accommodate growing data storage and processing needs,
increasing use of cable assemblies in structured cabling systems to create
reliable connections between network devices, and growing deployment of
ethernet networking solutions.
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Based on geography, the global cable assembly market is
segmented into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa. In 2024, North America is expected to account for the
largest share of the global cable assembly market, followed by Europe and
Asia-Pacific. The large market share of North America is mainly attributed to
the increasing demand for advanced cable assembly solutions across various
industries, the growing automotive industry, expansion of telecommunications networks,
increasing deployment of 5G technology, increasing demand for cable assemblies
used in power generation and distribution systems, including solar panels, wind
turbines, and energy storage solutions.
However, the Asia-Pacific market is projected to register
the highest CAGR during the forecast period. The rapid industrialization and
urbanization, increasing digitization, growth of electronics manufacturing in
countries including China, Japan, and South Korea, the expansion of the
automotive industry, the increasing adoption of data centers, growing
investments in telecommunications infrastructure and information technology
services, and the increasing need to support high-speed data transmission, ensure
reliable connectivity, and enable various technological advancements across
different industries and sectors in the region are expected to support the
growth of this market.
Key Players:
The key players operating in the cable assembly market are
TE Connectivity Ltd. (Switzerland), Amphenol Corporation (U.S.), Molex, LLC
(U.S.), 3M (U.S.), Lapp Group (Germany), Eland Cables Limited (“Eland Cables”)
(U.K.), Flux Connectivity Inc. (Canada), Fischer Connectors SA (Switzerland),
CommScope, Inc. (U.S.), Rosenberger Hochfrequenztechnik GmbH & Co. KG.
(Germany), Samtec (U.S.), HARTING Technology Group (Germany), Smiths
Interconnect Group Limited (U.S.), Carlisle Interconnect Technologies (U.S.),
and W. L. Gore & Associates, Inc. (U.S.).
TOP 10 COMPANIES IN CABLE ASSEMBLY MARKET >> https://meticulousblog.org/top-10-companies-in-cable-assembly-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=02-04-2024
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