Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Different types of cables are used in cars that need to deal with vibration, heat, hydrocarbons, etc. These wires and cables are manufactured from different types of materials though aluminum and copper two of the most popular types of automotive wire materials. Copper is majorly used material as it is more conductive, flexible, and less likely to corrode than aluminum wire. Generally, these wires are soldered or solderless. Solderless connections are often used for terminals such as crimp terminals to make connections. Moreover, wires and cables are manufactured with different colors, in order to organize and repair them.

The global automotive wire and cable materials market was valued at US$ 4,424.4 Mn in 2018 and is expected to grow at a CAGR of 6.4% during the forecasted period (2019-2027)

Market Dynamics- Driver

  1. Increasing demand for electric and hybrid vehicles are expected to drive growth of the global automotive wire and cable materials market during the forecast period

Automakers around the globe are introducing new electric car model with advanced features, in order to expand their consumer base. Consumers are increasingly preferring eco-friendly, electric cars over conational gasoline cars, which in turn, is expected to drive the market growth over the forecast period. Moreover, hybrid cars offer benefits of both conventional and electric cars. In fact, it offers better fuel efficiency than regular petrol cars with incorporation of electrical system. Hybrid vehicles are consist of invertors and electric motors that are connected by AC and DC wiring harnesses. This, in turn, is expected to increase adoption of electric and hybrid cars and thereby drive the market growth over the forecast period.

  1. High growth of global automotive market is expected to propel the global automotive wire and cable materials market growth over the forecast period

The global automotive market has witnessed significant growth in the recent past. According to Coherent Market Insights’ analysis, the global automotive market growth was led by South Korea, India, Japan, China, and the U.S., with these accounting for 60.1% of the global cars and commercial vehicles production in 2015. Furthermore, India and China are expected to be the major contributors in the near future. This is owing to rapid urbanization and changing lifestyles in the region. Thus, high growth of global automotive market is expected to boost the global automotive wire and cable materials market over the forecast period.

Asia Pacific region dominated the global automotive wire and cable materials market in 2018, accounting for 56.1% share in terms of value, followed by Europe, and the North America, respectively

Automotive Wire and Cable Materials  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Growing adoption of automotive Ethernet by OEMs are expected to restrain the global automotive wire and cable materials market growth in the near future

Major OEMs in the market are increasingly adopting automotive Ethernet in both internal and external electronic devices connectivity in automobile. Automotive Ethernet is mainly used in high-end and luxury cars. The current trend suggests automakers are expected to shift to Ethernet for production of other cars as well. Ethernet is slowly catching up with Hyundai making use of automotive Ethernet for infotainment systems in its upcoming cars, while Volkswagen deploying automotive Ethernet for drive-assist systems. Incarnation of Ethernet in automotive industry is going to hinder the adoption of wires as it reduces complex wiring structure, which in turn, is expected to hinder the market growth.

  1. Additional weight imposed on vehicle is expected to hamper the global automotive wire and cable materials market growth over the forecast period

Automobiles usually consist of hundreds of meters of wires, extending from headlights and taillights, carpeting, doors, dashboards, seats, and frames.  These wires lead to additional of around hundreds of kilometers that reduce fuel efficiency and overall performance. Growing adoption of novel technologies such as Ethernet is expected to decrease the use of wires and cables and thereby hamper the market growth in the near future.

Market Opportunities

  1. Proactive initiatives by government to support adoption of electric and hybrid cars

Governments of various countries have taken proactive initiatives such as tax concessions, subsidies, etc., in order to increase sales of electric and hybrid cars. For instance, up until 2013, the U.S. Government used to offer tax credit of US$ 7,500 to eligible buyers. The sum was returned to electric cars owner if the tax paid regularly during financial year. In 2014, the government announced to increase tax credit to US$ 10,000, which would be made at the point of purchasing. According to IEE Whitepaper, electric vehicles are expected to comprise 40% of total vehicle by 2035 in the U.S.

  1. Availability bio-based plasticizer as a substitute to traditional PVC plasticizers

Although PVC is the most-preferred insulation and jacketing material for wires, growing concerns regarding environmental hazards have increased adoption of bio-based plasticizers. Bio-based plasticizer is an environment-friendly solution since it satisfies the temperature requirement of the wiring application. However, further research needs to be done before it is fully accepted as an insulation and jacketing material in wires and cables.

Automotive Wire and Cable Materials  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. 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.

  1. Growing adoption of aluminum in place of copper to reduce weight

Manufacturers in the market are focused on replacing copper wire with aluminum wire for the use in battery cables, in order to reduce cost and vehicle weight. This is a major trend in the market is expected to continue during the forecast period.

Segment information:

On the basis of vehicle type, the global automotive wire and cable materials market is segmented into passenger cars, LCV, and HCV. Among all of these vehicle type, Passenger Vehicles dominated the global automotive wire and cable materials market in 2018, accounting for 77% share in terms of value, followed by LCV, and HCV, respectively.

Automotive Wire and Cable Materials  | Coherent Market Insights

Source: Coherent Market Insights

Value Chain Analysis

Automotive Wire and Cable Materials  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key companies operating in the global automotive wire and cable materials market are ACOME, Allied Wire & Cable Inc., Coficab Tunisie SA, Coroplast Fritz Muller GmbH & Co. KG, Delphi Automotive PLC, Draka Holdings B.V., Lear Corporation., Leoni AG, Sumitomo Electric Industries, Ltd., and Yazaki Corporation.

Key Developments

  1. Key companies in the market are focused on signing contract, in order to gain competitive edge in the market. For instance, in June 2015, J-Power Systems, a wholly owned subsidiary of Sumitomo Electric Industries Ltd., entered into a contract with NEMO LINK to supply and install HVDC XLPE insulated cable at DC 400 kV wit transmission capacity of 1,000 MW.
  2. Key players in the market are involved mergers and acquisitions, in order to enhance their market presence. For instance, in December 2015, Delphi Automotive PLC acquired HellermannTyton Group, a global manufacturer of cable management solutions, to strengthen its position in the automotive electrical architecture market.

Wires and cables are used virtually in all applications in a vehicle. These wires and cables are manufactured from different types of materials though aluminum and copper two of the most popular types of automotive wire materials. Furthermore, wires and cables are manufactured with different colors, in order to organize and repair them.

Market Dynamics

Increasing automotive sales in leading Asia pacific countries such as India and China are expected to boost the global automotive wire and cable materials market growth over the forecast period. According to statistics published by International organization of Motor Vehicle Manufacturer’s (OICA), the automotive sales observed a rise of 9.49% in India and 3.9% in China in 2018, compared to the sales figures in 2017. Furthermore, India and China are expected to be the major contributors in the near future. This is owing to rapid urbanization and changing lifestyles in the region. Thus, high growth of global automotive market is expected to boost the global automotive wire and cable materials market over the forecast period.

Furthermore, rising demand for electric and hybrid vehicles are expected to drive growth of the global automotive wire and cable materials market during the forecast period. According to the Electric Vehicle World Sales Database, the plug-in vehicle deliveries globally reached 2.1 million units in 2018, which was 64 % higher than in 2017. These include all battery electric vehicle (BEV) passenger car sales and plug-in hybrid electric vehicle, light commercial electric vehicles in China and Europe, and light trucks in the U.S./Canada. Furthermore, at the end of 2018, the total number of plug-in vehicles sold globally was 5.4 million light vehicles and 600,000 units of medium and heavy commercial vehicles. This rapid growth in the number of electric vehicles will result a high demand for automotive wire and cable materials market over the forecast period.

However, increasing adoption of novel technologies such as Ethernet is expected to decrease the use of wires and cables and thereby hamper the market growth in the near future.

Market Taxonomy

This report segments the global automotive wire and cable materials market on the basis of material type, and vehicle type. On the basis of material type, the global automotive wire and cable materials market is segmented into Polyvinyl Chloride (PVC), Polypropylene (PP), Cross-linked Polyethylene (XLPE), Thermoplastic Polyurethane (TPU), Polyphenylene Ether (PPE), Others (Fluoropolymers, Polyurethane, Neoprene, Ethylene Propylene Rubber, and Co-polyester Elastomer), On the basis of vehicle type, the market is segmented into Passenger vehicles is further sub-segmented into (Compact Cars, Sub-compact Cars, Mid-size Cars, Sedan, Luxury Cars, and Vans)), LCV, and HCV.

Key features of the study:

  • This report provides an in-depth analysis of the global automotive wire and cable materials market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global automotive wire and cable materials market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study ACOME, Allied Wire & Cable Inc., Coficab Tunisie SA, Coroplast Fritz Muller GmbH & Co. KG, Delphi Automotive PLC, Draka Holdings B.V., Lear Corporation., Leoni AG, Sumitomo Electric Industries, Ltd., and Yazaki Corporation.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global automotive wire and cable materials market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global Automotive Wire and Cable Materials market

Detailed Segmentation:

  •  Global Automotive Wire and Cable Materials Market, By Material Type:
    • Polyvinyl Chloride (PVC)
    • Polypropylene (PP)
    • Cross-linked Polyethylene (XLPE)
    • Thermoplastic Polyurethane (TPU)
    • Polyphenylene Ether (PPE)
    • Others (Fluoropolymers, Polyurethane, Neoprene, Ethylene Propylene Rubber, and Co-polyester Elastomer)
  • Global Automotive Wire and Cable Materials Market, By Vehicle Type:
    • Passenger Vehicles
      • Compact Cars
      • Sub-compact Cars
      • Mid-size Cars
      • Sedan
      • Luxury Cars
      • Vans
    • LCV
    • HCV
  • Company Profiles
    • ACOME*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Allied Wire & Cable Inc.
    • Coficab Tunisie SA
    • Coroplast Fritz Muller GmbH & Co. KG
    • Delphi Automotive PLC
    • Draka Holdings B.V.
    • Lear Corporation
    • Leoni AG
    • Sumitomo Electric Industries, Ltd
    • Yazaki Corporation

*Browse all the market data tables and figures on "Automotive Wire and Cable Materials Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Material Type
      • Market Snippet, By Vehicle Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Automotive Wire and Cable Materials Market, By Material Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Polyvinyl Chloride (PVC)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Polypropylene (PP)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Cross-linked Polyethylene (XLPE)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Thermoplastic Polyurethane (TPU)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Polyphenylene Ether (PPE)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others (Fluoropolymers, Polyurethane, Neoprene, Ethylene Propylene Rubber, and Co-polyester Elastomer)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Automotive Wire and Cable Materials Market, By Vehicle Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Passenger Vehicles
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
      • Compact Cars
      • Sub-compact Cars
      • Mid-size Cars
      • Sedan
      • Luxury Cars
      • Vans
    • LCV
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • HCV
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Automotive Wire and Cable Materials Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Material Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Material Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Material Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Material Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Material Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • ACOME
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Allied Wire & Cable Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Coficab Tunisie SA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Coroplast Fritz Muller GmbH & Co. KG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Delphi Automotive PLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Draka Holdings B.V.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lear Corporation.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Leoni AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sumitomo Electric Industries, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Yazaki Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on "Automotive Wire and Cable Materials Market - Global forecast to 2027”.

Frequently Asked Questions

The global automotive wire and cable materials market is estimated to exhibit a CAGR of 6.4% during the forecasted period (2019-2027).
Major players operating in the global automotive wire and cable materials market include ACOME, Allied Wire & Cable Inc., Coficab Tunisie SA, Coroplast Fritz Muller GmbH & Co. KG, Delphi Automotive PLC, Draka Holdings B.V., Lear Corporation., Leoni AG, Sumitomo Electric Industries, Ltd., and Yazaki Corporation.
Growing adoption of automotive Ethernet by OEMs, coupled with additional weight imposed on vehicle are the major factors that are expected to hamper growth of the market over the forecast period.
The increasing demand for electric and hybrid vehicles is one of the major factors that is expected to propel growth of the market over the forecast period.
The increasing demand for car digitization and connectivity is a major trend that has been observed in the market.
Among regions, Asia Pacific held a dominant position in the global automotive wire and cable materials market in 2018, accounting for 56.1% share, in terms of value, followed by Europe, and the North America, respectively.
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