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Global Cables and Connectors Market to Reach Around USD 64.68 Billion by 2027, Aided by the Increasing Manufacturing of Automobiles

According to a new report by EMR titled, ‘Global Cables and Connectors Market Report and Forecast 2022-2027’, the global market for cables and connectors attained a value of about USD 52.31 billion in 2021. The industry is further expected to grow at a CAGR of 3.60% during the forecast period 2022-2027.

The Asia Pacific region holds a significant share of the cables and connectors industry due to rapid industrialisation. As countries like India and China are some of the leading producers of automobiles and electronic devices, cables and connectors are significantly increasing, hence driving the market growth. Furthermore, with rapid digital transformation in the region, the demand for cables and connectors is surging, augmenting industry growth. Furthermore, the advent of Industry 4.0 is further increasing the use of cables and connectors in the region, thereby positively impacting the market's growth. Moreover, the increasing investments in advanced infrastructure using cables and connectors are providing further impetus to the market's growth.

Two ranges of micro-D connectors of Axon Cable S.A.S., one of the leading companies in the market, were qualified by the European Space Agency in February 2021. The connectors comply with the ESCC3401/029 standard and depict the company’s expertise in connectors and the space field. The lightweight, small, reliable, and designed connectors are ideal for harsh environmental conditions. The connectors are extensively tested on space missions like Mars Rovers Curiosity and Perseverance, the European Mission Exomars, Solar Orbiter and Metop. Moreover, the connectors are a quick looking system and require no tools. They can be connected with one click and are ideal for enhancing time effectiveness. Furthermore, the connectors are suitable for confined space, making them ideal for space field applications. Such developments are propelling market growth.

Market Analysis by Type, Product Type, End-Use, and Region:

  • The market, based on type, can be divided into internal and external.
  • Based on product type, the industry can be divided into HDMI cables and connectors, USB cables and connectors, VGA cables and connectors, DVI cables and connectors, and CAT5/CAT6 cables and connectors, among others.
  • The end uses of cables and connectors include automotive, commercial, oil and gas, energy and power, and aerospace and defence, among others.
  • The regional markets for cables and connectors include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • In the automotive sector, the increasing use of cables and connectors in automobile applications like air conditioning, braking, and lighting, among others, is propelling the market growth.
  • The market is being augmented by the growing deployment of cables and connectors with extreme reliability and corrosion resistance in the oil and gas sectors.
  • The growing demand for high-speed cables and connectors for uninterrupted power supply owing to the advent of 5G technology is expected to drive the market growth in the forecast period.
  • The increasing cost-effectiveness of innovative connectors is increasing their deployment in electronic devices to optimise their performance, which is predicted to propel the growth of the cables and connectors industry in upcoming years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cables and connectors for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, product types, end uses, and major regions of cables and connectors.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cables and connectors market are Axon Cable S.A.S., Amphenol Corporation, Sumitomo Electric Wiring Systems, Inc., Fujitsu Limited, and Nexans Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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