Meticulous Research®—a leading global market research company, published a research report titled, ‘Cable Assembly Market by Product Type (Rectangular, Coaxial, Fiber Optic, Power, Modular, FFC/FPC, Telephone), End-use Equipment (Computers & Peripheral, Medical, Industrial, Automotive, Transportation, Telecom, Datacom), Geography - Global Forecast to 2031.’

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According to this latest publication from Meticulous Research®, the global cable assembly market is projected to reach $299.2 billion by 2031, at a CAGR of 6.3% from 2024 to 2031. The growth of this market is driven by the increasing demand from the aerospace industry and growing internet penetration across the globe. Additionally, the expansion of telecommunications infrastructure, increasing demand for custom cable assemblies, growing number of electric vehicles, and increasing adoption of data centers are expected to create market growth opportunities. However, competition from wireless technologies may restrain the growth of this market. The availability of counterfeit products is a major challenge for the players operating in this market.

Additionally, the miniaturization of cable assemblies and the high adoption of Industry 4.0 technologies are the key trends in the cable assembly market.

The global cable assembly market is segmented by offering, application, and end-user industry. The study also evaluates end-user industry competitors and analyzes the market at the region/country levels.

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Based on product type, the global cable assembly market is broadly segmented into rectangular cable assemblies, radio frequency (RF)/coaxial cable assemblies, ribbon cable assemblies, fiber optic cable assemblies, power cable assemblies, custom cable assemblies, circular cable assemblies, barrel connector cable assemblies, video cable assemblies, USB cable assemblies, modular cable assemblies, FFC/FPC jumper cable assemblies, pre-crimped leads assemblies, printed circuit board (PCB) assemblies, telephone cables assemblies, and other product types. In 2024, the rectangular cable assemblies segment is expected to account for the largest share of the global cable assembly market. The large market share of this segment is attributed to the growing connectivity requirements and increasing use of rectangular cables in vehicles, industrial automation systems, machinery, and equipment to transmit power, signals, and data between different components.

However, the fiber optic cable assemblies segment is projected to register the highest CAGR during the forecast period due to the increasing demand for high-speed internet and data-intensive applications, the growing need to interconnect servers and data storage systems within data center facilities, the increasing use of fiber optic cables in data centers, industrial automation systems for connecting sensors, actuators, and controllers, growing applications of fiber optics in broadcast and audiovisual systems, telecommunications networks for long-distance transmission, and enterprise networks to support high-speed LAN connections, interconnect multiple office locations, and provide connectivity.

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Based on end-use equipment, the global cable assembly market is broadly segmented into computers & peripheral equipment, business & office equipment, medical equipment, instrumentation equipment, industrial equipment, automotive equipment, power equipment, transportation electronics equipment, military & aerospace equipment, telecom equipment, datacom equipment, consumer electronic equipment, and other equipment. In 2024, the automotive equipment segment is expected to account for the largest share of the global cable assembly market. The large market share of this segment is attributed to the rising demand for electric vehicles, increasing electrification of vehicles, increasing need to create wiring harnesses that organize and route electrical wires and cables within the vehicles, and growing integration of ADAS technologies and in-vehicle infotainment (IVI) systems.

However, the datacom equipment segment is projected to register the highest CAGR during the forecast period due to the growing use of fiber optic cables to support high-speed data transmission and enable efficient interconnection between different data center components, expansion of data center facilities to accommodate growing data storage and processing needs, increasing use of cable assemblies in structured cabling systems to create reliable connections between network devices, and growing deployment of ethernet networking solutions.

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Based on geography, the global cable assembly market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global cable assembly market, followed by Europe and Asia-Pacific. The large market share of North America is mainly attributed to the increasing demand for advanced cable assembly solutions across various industries, the growing automotive industry, expansion of telecommunications networks, increasing deployment of 5G technology, increasing demand for cable assemblies used in power generation and distribution systems, including solar panels, wind turbines, and energy storage solutions.

However, the Asia-Pacific market is projected to register the highest CAGR during the forecast period. The rapid industrialization and urbanization, increasing digitization, growth of electronics manufacturing in countries including China, Japan, and South Korea, the expansion of the automotive industry, the increasing adoption of data centers, growing investments in telecommunications infrastructure and information technology services, and the increasing need to support high-speed data transmission, ensure reliable connectivity, and enable various technological advancements across different industries and sectors in the region are expected to support the growth of this market.

Key Players:

The key players operating in the cable assembly market are TE Connectivity Ltd. (Switzerland), Amphenol Corporation (U.S.), Molex, LLC (U.S.), 3M (U.S.), Lapp Group (Germany), Eland Cables Limited (“Eland Cables”) (U.K.), Flux Connectivity Inc. (Canada), Fischer Connectors SA (Switzerland), CommScope, Inc. (U.S.), Rosenberger Hochfrequenztechnik GmbH & Co. KG. (Germany), Samtec (U.S.), HARTING Technology Group (Germany), Smiths Interconnect Group Limited (U.S.), Carlisle Interconnect Technologies (U.S.), and W. L. Gore & Associates, Inc. (U.S.).

TOP 10 COMPANIES IN CABLE ASSEMBLY MARKET >> https://meticulousblog.org/top-10-companies-in-cable-assembly-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=22-03-2024