Cable assembly is a collection of wires and cables banded together in a single unit. It is used to connect various types of systems and equipment to carry out its desired operation in component and finished product manufacturing. These assemblies are majorly used in industries such as automotive, computers and peripherals, telecom/datacom, military/aerospace, industrial, consumer, transportation, medical, instrumentation, business/office, and others. Factors such as increasing number of electric vehicles, increasing demand from aerospace industry, growing internet penetration across the globe are expected to drive the growth of the Cable Assembly Market .
According to a new market research report “Cable Assembly Market by Product (Custom/Application Specific Assemblies, Rectangular Assemblies, Radio Frequency (RF) Assemblies, Circular Assemblies), Application (Automotive, Telecom, Industrial, Medical), and Geography – Global Forecast to 2025”, published by Meticulous Research®, the global cable assembly market is expected to reach $220.7 billion by 2025, growing at a CAGR of 6.7% from 2019.
Factors such as increasing number of electric vehicles, increasing demand from aerospace industry, and growing internet penetration across the globe are expected to drive the growth of the overall cable assembly market. Moreover, high demand for fiber optic cable assemblies is expected to provide significant opportunities in this market. However, availability of counterfeit products is expected to hinder the growth of this market.
The overall cable assembly market is mainly categorized by product (custom/application specific assemblies, rectangular assemblies, radio frequency (rf) assemblies, circular assemblies, fiber optics assemblies, Printed Circuit Board (PCB) assemblies, and others), application (automotive, telecom, computers and peripherals, industrial, military & aerospace, medical, and others), and geography. The market consists of large number of players such as TE Connectivity Ltd, WL Gore & Associates, Epec Engineered Technologies, Delphi Connection Systems, Yazaki Corporation, Foxconn Interconnect Technology Limited, JAE Electronics, Inc., Koch Industries, Inc., and Luxshare Precision Industry Co. among others.
Top 10 Key Players leading in Cable Assembly Market
Custom/application specific assemblies segment is estimated to account for the largest share of the overall cable assemblies market in 2019. The largest share of this segment is mainly attributed to its better flexibility; accuracy; accountability; multiple functions; and growing demand in wide range of applications and industries, including military, automotive, and medical.
On the basis of application, automotive application segment is estimated to account for the largest share of the global cable assemblies market in 2019. Growing demand for electric, hybrid, and fuel cell cable assemblies; next generation of charging cable assemblies for hybrid and electric vehicles; infotainment & multimedia cable assemblies; and safe cable assemblies will drive the growth of the global cable assemblies market for automotive industry.
Geographically, Asia-Pacific region, with countries such as China, Japan, and India is a strong market for cable assemblies and expected to grow with the fastest CAGR in the coming years. Factors such as growing urbanization and industrialization, increasing demand for electric vehicles, presence of large number of manufacturers, and growth in the power distribution sector are expected to drive the growth of the global cable assemblies market in this region.
Hurry up !! Limited Period Offer, Check your Discount Now..
Scope of the Report:
Market by Product
- Custom/Application Specific Assemblies
- Rectangular Assemblies
- Radio Frequency (RF) Assemblies
- Circular Assemblies
- Fiber Optics Assemblies
- Printed Circuit Board (PCB) Assemblies
Market by Application
- Computers and Peripherals
- Military & Aerospace
Market by Geography
- North America
- Rest of Europe (RoE)
- Asia Pacific (APAC)
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
Browse key industry insights spread across 138 pages with 61 market data tables & 37 figures & charts from the report: https://www.meticulousresearch.com/product/cable-assembly-market-4975/
Automotive TIC Market by Service Type (Testing, Inspection, Certification), Sourcing (In-house and Outsourcing), Application (Vehicle Inspection, Electric Components and Electronics, OEM Testing, Telematics) and Geography – Global Forecast to 2025
Mr. Khushal Bombe
Direct Lines: +1-646-781-8004
Visit Our Website: https://www.meticulousresearch.com/
This post was originally published on Analytics News