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Control Cable Market Size
Control Cable Market was valued at more than USD 19.2 billion in 2022 and is projected to register 8.4% CAGR between 2023 and 2032. The drive toward increasing investments in the automation industry is poised to significantly boost the demand for control cable. As industries worldwide increasingly embrace automation for enhanced efficiency and productivity, the demand for robust control cable systems is expected to surge. These cables play a pivotal role in transmitting signals and ensuring seamless communication between automated systems, thereby facilitating precise control and monitoring. Many companies are establishing significant partnerships and expanding their business by increasing production plants in the cable industry.
Economic uncertainties and fluctuating raw material prices created challenges for manufacturers, impacting production costs and pricing strategies. Stringent regulatory requirements and standards, particularly in the automotive and aerospace sectors, added complexity to the production process. Intense competition among key market players heightened the pressure to innovate and optimize operations. Additionally, geopolitical tensions and trade disputes contributed to supply chain disruptions, affecting the overall stability of the control cable industry. These factors collectively created a challenging pre-pandemic landscape for the industry, requiring strategic resilience and adaptability.
Report Attributes | Details |
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Base Year: | 2022 |
Market Size in 2022: | USD 19.2 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 8.4% |
2032 Value Projection: | USD 43.1 Billion |
Historical Data for: | 2017 to 2021 |
No. of Pages: | 350 |
Tables, Charts & Figures: | 852 |
Segments covered: | Cable Type, Voltage Range, Application |
Growth Drivers: |
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Pitfalls & Challenges: |
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COVID– 19 Impact
The emergence of the novel coronavirus in November 2019 in China's Hubei province took the world by surprise and triggered the COVID-19 pandemic, which has had a profound impact on the world economy. According to the World Health Organization (WHO), COVID-19 has affected more than 225 countries, leading the respective governments to implement lockdowns as a response.
Control Cable Market Trends
Growing emphasis on automation and so, energy efficient cable solutions will positively impact the business landscape. Control cables have gained popularity in the last decade across various fields due to their reliability, versatility, and efficiency in transmitting signals and controlling mechanisms. Industries such as automation robotics, telecommunications and automotive have increasingly adopted control cables to facilitate precise and responsive control systems. The rise of industry 4.0, there was a growing demand for control cables in various industries to support automation processes. Ongoing technological advancements, such as internet of things and smart devices influenced the design and requirements of control cables.
Control Cable Market Analysis
![Control Cable Market Size , By Cable Type, 2021 - 2032 (USD Billion) Control Cable Market Size , By Cable Type, 2021 - 2032 (USD Billion)](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/control-cable-market-size-by-cable-type-2023-2032.webp)
The CY cable is expected to grow with a CAGR of more than 7.1% through 2032. As industries increasingly demand specialised cables to meet specific requirements, CY, YY and SY cables cater to different needs within the broader control cable business. The demand for reliable flexible and EMC compliant cables has given the adoption of this cables in diverse sectors. As industries increasingly adopt sophisticated automation technologies and digital communication systems, the demand for reliable and secure control cables like CY Cables is likely to rise. The emphasis on data integrity and uninterrupted signal transmission in automated processes further accentuates the importance of CY Cables.
Based on voltage range, the proliferation of automation technologies and the Internet of Things (IoT) has led to an increased need for low voltage control cables stop these cables are essential for connecting and powering sensors actuators and other low power devices in smart homes, industrial automation and IoT applications. As technology advances, there is an increasing demand for sophisticated control systems in various industries, such as automation, telecommunications, and electronics, that operate on lower voltage levels. Additionally, the growing emphasis on energy efficiency and the use of renewable energy sources often involves the implementation of low-voltage control systems.
![Control Cable Market Revenue Share, By Application, 2022 Control Cable Market Revenue Share, By Application, 2022](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/control-cable-market-revenue-share-by-application-2023-2032.webp)
The conveyor systems application captured around 12% of the control cable market share in 2022, due to its widespread application across various industries. As an integral component of material handling systems, control cables play a crucial role in ensuring the seamless operation and efficiency of conveyor systems. These systems are extensively utilized in manufacturing, logistics, and mining, facilitating the automated movement of goods and materials. The demand for conveyor systems continues to rise as industries increasingly adopt automation for enhanced productivity and cost-effectiveness. Consequently, the reliance on control cables within conveyor systems amplifies their significance in driving the overall market growth.
![Europe Control Cable Market Size, 2021 - 2032, (USD Billion) Europe Control Cable Market Size, 2021 - 2032, (USD Billion)](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/europe-control-cable-market-size-2023-2032.webp)
Europe control cable market size crossed 3.4 billion in 2022. Flourishing sectors along with increasing investments toward the development of automation sector will energize the business dynamics. Europe can potentially boost demand for control cables in future through increased infrastructure development, industrial automation, and the growing demand for smart technologies. Europe has been making significant investments in renewable energy sources such as wind and solar power. The expansion of these energy sectors requires extensive control systems, leading to an increased demand for control cables to connect and regulate various components in these systems.
Control Cable Market Share
The major companies are focusing on marketing strategies, technological advancements, brand recognition and economies of scale to meet the competition prevailing in the industry. The key industry market players include:
- ABB
- Belden Inc.
- FURUKAWA ELECTRIC CO. LTD.
- KEI Industries Limited
- LS Cable & System Ltd.
- Nexans
- NKT A/S
- Prysmian S.P.A
- Havells
- TE Connectivity
- Birla Cable Limited
- Leoni Cables
- Saudi Cable Company
- Fujikura Ltd.
- Riyadh Cables
- RR Kabel
- Sumitomo Electric Industries Ltd.
Control Cable Industry News
- In January 2023, Nexans collaborated with Trimet for a joint development project to develop a material with recycled aluminium for the manufacturing of aluminium rod that is used in electrical cables. Both participants are focusing on reducing the carbon footprint as the product has the capability to fulfil technical requirements on the mechanical properties & conductivity of the alloy.
This control cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Tonnes” & “USD” from 2019 to 2032, for the following segments:
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Market, By Cable Type
- CY Cable
- YY Cable
- SY Cable
- LiYCY Cable
- LiYY Cable
- LiHH Cable
- LiHCH Cable
Market, By Voltage Range
- Low
- Medium
- High
Market, By Application
- Conveyor Systems
- Assembly Links
- Robotics Production Lines
- Air Conditioning Systems
- Machine
- Tool Manufacturing
- Power Distribution
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Netherlands
- Italy
- Spain
- Germany
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- Kuwait
- South Africa
- Egypt
- Latin America
- Brazil
- Argentina
- Peru
Frequently Asked Questions (FAQ) :