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Control Cable Market Size

Report ID: GMI7460
Published Date: Nov 2023
Report Format: PDF

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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.

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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.

Control Cable Market Report Attributes
Report Attribute	Details
Base Year:	2022
Control Cable 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:	Stringent energy efficiency reforms Increasing investments toward the development of automation industry Expansion of smart grid networks
Pitfalls & Challenges:	Slow paced technological evolution across developing regions High dependency on imports

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of control cable was exceeded USD 19.2 billion in 2022 and is estimated to witness 8.4% CAGR from 2023 to 2032, due to the increasing investments in the automation sector.

Demand for CY control cables is expected to witness more than 7.1%. CAGR up to 2032, owing to the rising need to cater to different needs of reliable flexible and EMC compliant cables.

Europe control cable market size reached over 3.4 billion in 2022, owing to the increasing infrastructure development, industrial automation, and the growing demand for smart technologies.

Some of the leading control cable companies are ABB, Belden Inc., FURUKAWA ELECTRIC CO. LTD., KEI Industries Limited, LS Cable & System Ltd., Nexans, Prysmian S.P.A, Havells, TE Connectivity, and Birla Cable Limited, among others.