Automotive Wire and Cable Materials Market, by Material Type (Polyvinyl Chloride (PVC), Polypropylene (PP), Cross-linked Polyethylene (XLPE), Thermoplastic Polyurethane (TPU), Polyphenylene Ether (PPE), and Others (Fluoropolymers, Polyurethane, Neoprene, Ethylene Propylene Rubber, and Co-polyester Elastomer)), by Vehicle Type (Passenger vehicle segment is further sub-segmented into (Compact Cars, Sub-compact Cars, Mid-size Cars, Sedan, Luxury Cars, and Vans), LCV, and HCV) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) -

Published In : Jun 2023

Code : CMI3249

Pages :174

Formats :

Excel and PDF

Industry : Automotive and Transportation

Automotive Wire And Cable Materials MarketSize and Trends

The Automotive Wire And Cable Materials market is estimated to account for US$ 4,629.5 Million in terms of value by the end of 2022 and is expected to grow at a CAGR of 6.5% during the forecast period (2023-2030)

The automotive wire and cable materials market is a segment of the global automotive industry that focuses on the production and supply of wire and cable materials used in vehicles. Automotive wire and cable materials play a crucial role in the functioning and performance of various electrical and electronic components within automobiles.

Automotive Wire And Cable Materials Market- Trends:

Increasing demand for car digitization and connectivity is a major trend in the market Increasing demand for car digitization and connectivity, which is an integral part of vehicle and communication is expected to boost the consumption of automotive wires and cables. Moreover, these wires are being used to aid communication with other vehicles through intelligent and enhanced roadway infrastructure.

Growing adoption of lightweight material

In the automotive industry, there is a strong emphasis on leveraging lightweight materials to improve fuel efficiency and minimize emissions. As a result, we are witnessing a growing adoption of materials such as aluminum and high-strength, lightweight polymers for automotive wire and cable applications.

Automotive Wire And Cable Materials Market- Drivers:

Increasing Automotive Production

The automotive wire and cable materials market is experiencing a surge in demand within the automobile sector, primarily driven by their exceptional safety and comfort features. Factors such as the expansion in vehicle production, the introduction of hybrid flex-fuel vehicles, the rise of connected cars, and the growing integration of digital technologies in automobiles are propelling market growth. The International Trade Administration (ITA) reports that China, as the largest motor vehicle market globally, is projected to reach 35 million vehicles in automotive manufacturing by 2025.

The Automotive Wire And Cable Materials Market was valued at US$ 4,629.5 Mn in 2022 and is forecast to reach a value of US$ 7,663.1 Mn by 2030, exhibiting a CAGR of 6.5% between 2023 and 2030.