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Meticulous Research, an international market research institution, recently released a cable assembly market research report that the compound annual growth rate of the global cable assembly market from 2019 to 2026 is about 6.
7%.
According to the report, the cable assembly market is expected to exceed $220 billion by 2026, with electric vehicles, rising Internet penetration, and increasing demand from the aerospace industry as the main factors
contributing to the steady growth of the market.
However, the report also warns that the proliferation of counterfeit products will also affect the development of
the global cable assembly market.
By product type, custom/custom cable assemblies will account for the largest share of the overall cable assembly market, as customized/custom cable assemblies offer greater flexibility and accuracy, accountability, and better assurance
of after-sales service.
The demand for this market will also grow further in industries such as military, automotive, and medical during the forecast period
.
In terms of application market, in 2019, the automotive field will become the largest application market in the global cable assembly market
.
This is mainly due to the significant increase
in demand for charging cable assemblies for electric and hybrid vehicles, infotainment and multimedia cable assemblies, safety cable assemblies, and cable assemblies for fuel cells.
From the perspective of regional market, the Asia-Pacific region, represented by China, Japan and India, will become the largest regional market for cable assemblies and is expected to grow
at the fastest compound growth rate in the next few years.
The growth of urbanization and industrialization in the region, the significant increase in demand for electric vehicles, the rapid development of advanced manufacturing and infrastructure such as electricity will stimulate the stable and rapid growth
of the market.
Meticulous Research, an international market research institution, recently released a cable assembly market research report that the compound annual growth rate of the global cable assembly market from 2019 to 2026 is about 6.
7%.
According to the report, the cable assembly market is expected to exceed $220 billion by 2026, with electric vehicles, rising Internet penetration, and increasing demand from the aerospace industry as the main factors
contributing to the steady growth of the market.
However, the report also warns that the proliferation of counterfeit products will also affect the development of
the global cable assembly market.
By product type, custom/custom cable assemblies will account for the largest share of the overall cable assembly market, as customized/custom cable assemblies offer greater flexibility and accuracy, accountability, and better assurance
of after-sales service.
The demand for this market will also grow further in industries such as military, automotive, and medical during the forecast period
.
In terms of application market, in 2019, the automotive field will become the largest application market in the global cable assembly market
.
This is mainly due to the significant increase
in demand for charging cable assemblies for electric and hybrid vehicles, infotainment and multimedia cable assemblies, safety cable assemblies, and cable assemblies for fuel cells.
From the perspective of regional market, the Asia-Pacific region, represented by China, Japan and India, will become the largest regional market for cable assemblies and is expected to grow
at the fastest compound growth rate in the next few years.
The growth of urbanization and industrialization in the region, the significant increase in demand for electric vehicles, the rapid development of advanced manufacturing and infrastructure such as electricity will stimulate the stable and rapid growth
of the market.
