“The Automotive Wires & Cables Market size was valued at US$ 13.8 billion in 2023 and is likely to grow at a promising CAGR of 5.4% in the long run to reach US$ 19.8 billion in 2030.”

Stratview Research, a leading global market research firm, forecasts that the global Automotive Wires & Cables market will grow at an annual rate of 5.4%, reaching US$ 19.8 billion by 2030. The report provides a detailed outlook on regional and global markets, emerging trends, segment analysis, competitive landscape, and key market drivers.

The report serves as a comprehensive decision-making tool for key stakeholders such as CXOs, business strategists, and investors, offering:

• Strategic Clarity: Insights into market trends, growth opportunities, and emerging challenges to streamline business strategies.
• Competitive Intelligence: Analysis of top players, their market positioning, and innovative strategies driving their success.
• Future Readiness: A detailed outlook on evolving market dynamics, technological advancements, and industry disruptions.

Key Report Highlights:

• Market Size by 2030: US$ 19.8 billion
• Growth Rate (CAGR): 5.4% (2024-2030)
• Forecast Period: 2024-2030
• Trend Period: 2018-2022
• Base Year: 2023
• Segments Covered: 5
• Number of Tables & Graphs: 100+

Segment Insights: The report provides a thorough analysis of Automotive Wires & Cables market segments, enabling stakeholders to understand key performance indicators and opportunities within various segments.

• By Vehicle Type: The market is segmented into light vehicles and commercial vehicles. Light vehicles are likely to be the biggest and the most rapidly rising vehicle during the span of this study. The growth in demand from the automotive world for advanced connectivity, infotainment systems, and telematics will lead to the automotive wires & cables demand surge rapidly in the market within the forecast period. The growing use of electrical systems and components in light vehicles demands advanced automotive cables.
• By Voltage Type: The market is segmented into low-voltage wires & cables [main harness, auxiliaries, cockpit, ice harness, and others] and high-voltage wires & cables [AC/DC wiring, auxiliaries, traction, and others]. While the low-voltage cable is expected to b the most dominant, high-voltage cable is expected to be the most rapidly expanding market. Low-voltage wires & cables with 8V to 12V are very useful for car lighting, entertainment, safety, power accessories, climate control, and many other applications in today’s vehicles. Low-voltage systems are essential to many important functions in today’s vehicles. The more electrification and features are put into vehicles, the more robust and efficient high-voltage wiring systems will be required.
• By Product Type: The market is segmented into copper core, aluminum core, and others. Aluminum core is anticipated to demonstrate the most rapid growth during the forecast period driven by low cost and easy installation. Aluminum core cables are lightweight and hence cheap as compared to copper core cables. They resist corrosion and are flexible, hence, their installation is easy. Aluminum is highly recyclable and, therefore, more eco-friendly than other materials. It can also work excellently under high-voltage applications, like those found in EVs supporting the latest automotive technologies.

Regional Outlook:

• Asia-Pacific is the most dominant region in the automotive wires & cables market. It is further expected that Asia-Pacific will continue to lead in electric vehicle penetration, a huge number of global wires & cables manufacturing plants, and China as a major vehicle manufacturing country with hundreds of associated OEM plants.
• North America is forecasted to exhibit the most accelerated expansion during the forecast period. North America, particularly the USA, has one of the biggest and most solid industries for automobiles, representing many leading automobile manufacturers and suppliers that bring demand for wires & cables used in the automotive industry.

Market Drivers:

The growth of the Automotive Wires & Cables market is driven by a combination of macroeconomic factors, evolving industry needs, and technological innovation. Companies are recognizing the need to adapt to shifting market dynamics and are increasingly investing in research, product development, and strategic alliances to maintain their market edge.

Some of the key factors producing measurable change in the market dynamics are as follows:

• The continuous rise in population with strong purchasing power for automobiles, particularly in Asia-Pacific and the Rest of the World (RoW), is significantly influencing automotive wires & cables manufacturing indirectly.
• Increased adoption of advanced automotive technologies such as EVs, autonomous driving systems, and infotainment systems requires sophisticated cable solutions.
• Changing consumer preferences for high-tech, feature-rich vehicles drive the need for advanced wiring & cable solutions to support new technologies.
• Modern thin wires & cables, designed with reduced diameter and smaller cross-sectional size, significantly enhance manageability during installation.
• The future of automotive technology hinges on connectivity and autonomy, which involve numerous sensors and cameras generating vast amounts of data.

Top Market Players: The report profiles prominent companies operating in the Automotive Wires & Cables market, providing detailed insights into their market positioning, key strategies, and competitive advantages. Listed below, are some of the key players.

• Coficab Group (Tunisia)
• Beijing Force Group (China)
• Leoni AG (Germany)
• Prysmian Group (Italy)
• Helukabel (Germany)
• Xinhongye Wires & cables (China)
• Southwire Company LLC (USA)
• Gebauer & Griller (Austria)
• Condumex Inc (USA)
• Sumitomo Electric Industries Ltd. (Japan)

The comprehensive report also answers the following critical questions:

• What is the projected market size and growth potential?
• Which regions and segments are most lucrative for investment?
• Who are the major players, and what are their strategies?
• What challenges and opportunities exist in the market?
• What key trends are shaping the market’s future?

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About Stratview Research: Stratview Research is a global market research firm specializing in aerospace, defense, chemicals, energy, and other critical industries. Our reports provide actionable insights, enabling businesses to make confident decisions in competitive markets. Offering highly tailored research solutions such as market assessment, opportunity screening, voice of customer analysis, and entry strategies, we help companies achieve their global and regional growth objectives.

Core Competencies:

• Customized Research Services
• In-Depth Market Forecasting & Analysis
• Strategic Consulting & Data-Driven Insights
• Focus on Emerging & Niche Markets
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