Cable assembly market to surpass $268.35 billion by 2030

SkyQuest projects that the cable assembly market will attain a value of USD 268.75 billion by 2030, with a CAGR of 6.7% over the forecast period (2023-2030). The expansion of the cable assembly market is primarily propelled by the escalating demand for high-speed cable assemblies catering to various applications, including computers, servers, switches, and multiple data and communication equipment. This trend is further accentuated by consumers’ heightened adoption of personal computers (PCs), laptops and widespread internet usage.

Westford, USA, Oct. 18, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the cable assembly market is experiencing rapid growth, fueled by the surging demand for dependable and efficient connectivity solutions across many end-use sectors. Particularly, industries such as automotive, aerospace & defense, telecommunications, and healthcare are spearheading this expansion, recognizing the vital role cable assemblies play in enabling seamless communication and operation.

In the cable assembly market, advancements in technology that have led to cost reductions in batteries and substantial improvements in the efficiency of electric vehicles (EVs) have sparked a rapid surge in EV sales. This transformational shift has been particularly pronounced in several nations, including the United States, Germany, China, the United Kingdom, and the Netherlands.

Prominent players in cable assembly market

• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• L3Harris Technologies, Inc.
• Thales Group
• FLIR Systems, Inc.
• Aselsan A.S.
• Rafael Advanced Defense Systems Ltd.
• Northrop Grumman Corporation
• Safran S.A.
• Ultra Electronics Holdings plc
• Israel Aerospace Industries Ltd.
• Leonardo S.p.A.
• Jenoptik AG
• Sagem Defense Securite
• Terma A/S
• Elbit Systems Ltd.
• Qioptik Ltd.
• Rheinmetall AG
• UTC Aerospace Systems
• Kollsman, Inc.

Custom cable assemblies segment is expected to grow the market due to their inherent benefits in weight reduction
The global cable assembly market has seen a significant dominance of custom cable assemblies, primarily owing to their inherent space and weight reduction benefits. These tailor-made solutions cater to specific requirements and contribute to streamlined designs by optimizing spatial utilization.

The market in North America is poised for substantial expansion within the cable assembly market. This projection is underpinned by several factors that underscore the region’s potential for growth. Particularly, the escalating demand for cable assemblies in the IT and telecommunications industry is a pivotal catalyst.

Automotive Segment is Expected to Dominate the Market Due to the Escalating Utilization of Copper Cable Assemblies

The cable assembly market is prominently shaped by the dominance of the automotive segment, driven by the escalating utilization of copper cable assemblies in various components of motor vehicles. This prevalence spans critical areas such as gearboxes, mirrors, and side mirrors, underscoring the integral role of cable assemblies in ensuring seamless functionality within automotive systems.

Regional markets in the Asia Pacific are poised to assert their dominance over the global cable assembly market, driven by pivotal factors. The region’s burgeoning population, coupled with the rapid trajectory of urbanization and industrialization, is crucial in propelling its ascendancy.

A comprehensive analysis of the major players in the cable assembly market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand. Finance Yahoo