A cable is a thick or a group of wires inside a plastic or rubber covering, which is used to carry electronic or electricity signals. It is used to refer to television systems in which the signals are sent beside underground wires rather than by radio waves. It is made of two or more wires for instance bonded, twisted, or braided. It is used for an extensive range of purposes, and each must be tailored for that purpose. It is used extensively in electronic devices for signal and power circuits. Long-distance communications take place over undersea cables. Power cables are used for bulk transmission of direct and alternating current power, especially using high-voltage cable.
According to study, “World Cables Market Research Report 2024(covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world cables market are Luxshare, Broad Telecommunication, TE Connectivity, Deren, Molex, JCE, Shenzhen CYD Electronics, Lotes, Yiwanda, Shenzhen Alex, Zhaolong, Amphenol, PowerSync, Prolink JIB Electronic, Kaiboer, Sumitomo Electric, Lulian, Oylink, Wiretek, Wurth Elektronik, Johnson Electric, Axon Cable, Nicomatic, Cicoil, JSB Tech, Sumida-flexcon, Hitachi, Luxshare-ICT, Samtec, Xinfuer, Mei Tong, He Hui, He zhi, VST, Cvilux.
Based on cable type, cables market is segmented into ribbon cable, coaxial cable, shielded cable and twisted pair cable. Based on product type, market is segmented into HDMI cable, USB 2.0 cable, USB 3.0 cable, USB 3.1 type C, micro USB (android) and lightning cable (iOS). Based on installation type, market is segmented into underground, overhead and submarine. Based on conductor material, market is segmented into aluminum and copper. Based on core type, market is segmented into singlecore and multicore. Based on voltage type, market is segmented into low voltage, medium voltage, high voltage and extra high voltage. Based on application, market is segmented into information transmission, video distribution, electric system and instrument system. In addition, based on end-use, market is segmented into automotive industry, consumer electronics, medical applications, aeronautics, telecommunications & IT equipment and others.
The cables market is driven by expand in infrastructure & construction growth, followed by increase in renewable energy generation, cheaper installation costs, rapid industrialization & urbanizations, rise in investments in communication infrastructure, extensive government support, increase in demand from automotive & non-automotive industries, growth in broadband & broadcasting industry and implementation of smart grid technology. However, fluctuating price of raw materials may impact the market. Moreover, advancements in technologies is a key opportunity for market.
Based on geography, USA country holds major share, followed by EU in cables market owing to low cost of installation, increase in popularity of interconnected home devices and rise in IT& telecom sector expenditure in the country. China and Japan countries are expected to witness profitable growth due to growth in investments from the government in telecommunication broadband sectors, high population density and rise in economic development over the forecast period. In upcoming years, it is predicted that the market will be reached at quick pace on account of wide range of applications. The worldwide market is projected to grow at a CAGR of roughly 6.2% over the next five years, will reach US $162000 million in 2024, from US $112800 million in 2019.
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Ankur Gupta, Head Marketing & Communications