2019-2026 global cable assembly market compound annual growth of 6.7%

The international market research organization Meticulous Research recently released a cable assembly market research report, stating that the compound annual growth rate of the global cable assembly market from 2019 to 2026 is about 6.7%.

According to the report, the cable assembly market is expected to exceed $220 billion by 2026. Electric vehicles, rising Internet penetration, and increasing demand from the aerospace industry are the main factors that promote the steady growth of this market. However, the report also reminded that the proliferation of fake and inferior products will also affect the development of the global cable assembly market.

In terms of product types, customized/special-made cable assemblies will account for the largest share of the entire cable assembly market. This is because customized/special-made cable assemblies have better flexibility and accuracy, and have accountability systems, and have a good Better protection.

　　 During the forecast period, the military, automotive and medical industries will have further growth in demand for this market. From the application market, in 2019, the automotive field will become the largest application market in the global cable assembly market. This is mainly due to the substantial increase in demand for charging cable assemblies for electric vehicles and hybrid vehicles, infotainment and multimedia cable assemblies, safety cable assemblies, and fuel cell cable assemblies.

　　From the perspective of regional markets, the Asia-Pacific region represented by China, Japan and India will become the largest regional market for cable assemblies and is expected to grow at the fastest compound growth rate in the next few years. The growth of urbanization and industrialization in the region, the substantial increase in demand for electric vehicles, the advanced manufacturing industry, and the rapid development of infrastructure facilities such as electricity will all stimulate the stable and rapid growth of the market.