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Meticulous Research has published the latest market research report on the highly intriguing industry segment, “Cable Assemblies” in the past week. The report states that the global Cable Assemblies market will increase at a CAGR of 6.7% from 2019 to reach $220.7 billion by 2025, driven by the increasing number of electric vehicles, increasing demand from the aerospace industry, growing internet penetration across the globe, and the high growth of the automotive industry.
The report provides meticulous analysis of this market by segmenting it on the basis of 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 and aerospace, medical, and others), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).
Geographically, Asia-Pacific commanded the largest share in this market, followed by North America. The major share of Asia-Pacific is mainly attributed to growing urbanization and industrialization, increasing demand for electric vehicles, the presence of a large number of manufacturers and growth in the power distribution sector.
“The Asian giant, China, has major stakes in the regional cable assemblies market, as the Chinese consumer electronics industry has witnessed strong growth in the past decade, owing to strong domestic demand and the increased investment by the Chinese government to drive the development in the domestic economy,” said Uddhav Sable, Research Director at Meticulous Research.
Among applications, automotive segment commanded the largest share in this market majorly due to the growing demand for electric, hybrid, and fuel cell cable assemblies; next generation of charging cable assemblies for hybrid and electric vehicles; infotainment and multimedia cable assemblies; and safe cable assemblies.
The key players analyzed in the global Cable Assemblies market are 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.