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Cables and Connectors Market Expected to Reach $149.9 Billion by 2026

(IT-NEWSWIRE.COM, December 05, 2021 ) Cables and Connectors market is expected to reach $149.9 billion by 2026 at a CAGR of 7.8% during the forecast period 2021-2026. Increasing expenditure by the IT and telecom services to meet consumer demand drives the market growth. In addition, the growing number of fixed broadband connections over the years has enabled the growth of the market studied. According to ITU, the number of global fixed broadband subscriptions increased by 9% annually in the last five years. Moreover, growing number of data centers and increasing demand for higher bandwidth is the major driving factor behind the huge demand for cables and connectors worldwide in the forecast period 2021-2026. The rising demand for fiber optic/optical fiber and printed circuit board connectors as well as coaxial cables is set to drive the market growth.



Cables and Connectors Market Segment Analysis - By Classifications



USB cable and connector is growing at a highest CAGR of 12.9% in the forecast period owing to the increase in demand for digital data storage and the emergence of USB 3.0, 3.1 and 4.0 standards for high-speed data transfer. In addition growing advancements with this type of connector is analysed drive the market growth. In 2019, Belkin has launched USB-C Cable with Lightning Connector. Moreover with the growing need of higher data transfer rates, more industrial applications such as Machine Vision and 3D imaging are starting to implement USB 3.0 Micro B into their system designs. Hence these advancements are analysed to drive the market in the forecast period 2021-2026.



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Cables and Connectors Market Segment Analysis - By industry



Connectors and Cables in Automotive sector is growing at a CAGR of 13.1% in the forecast period owing to the growing applications of cables and connectors power, signal, data transfer and other application. Many leading automotive manufacturers are investing heavily for the production of vehicles. In 2019, Ford has invested $1.45 billion in the Detroit plants in U.S., to make electric, autonomous and sports utility vehicles, which is mainly aimed to increase the production of the vehicles thereby impacting on the high procurement of the circular connectors. In 2019, Toyota has announced to invest $749M in expanding the U.S. manufacturing facilities to increase the production of the RAV4 hybrid and Lexus ES 300h hybrid vehicles. In 2020, General Motors to invest more than $20 billion in its next generation of all-electric and autonomous vehicles through 2025. Moreover governments of several countries have been investing heavily for the development of electric vehicles. In 2019 German government has committed to invest more than $3 billion to expand electric car market growth in the region. As cables and connectors are used for several application in this sector. Hence these investments and developments are analyzed to be the key drivers for the growth of the circular connectors market during the forecast period 2020-2025.



Cables and Connectors Market Segment Analysis - By Geography



Asia-Pacific dominated the market by a market share of more than 35.2% in 2020 due to the rising demand of high-speed cables and connectors along with increasing investments in infrastructure development in countries such as India and China. In Countries such as India, China, Japan and so on, several data centres are planning to expand their presence in this region. In 2020, Amazon has committed to invest $2.8 billion to build its second data centre in India. In 2018, Facebook has committed to invest more than $1 billion to build its first data centre in Singapore by 2022. Similarly, Google is expanding its Singapore data centres with an investment of $850 million investment as mobile growth, e-commerce and cloud computing demand rise across the region. Moreover, Google is also planning to open their data centres in China mainly. Apart from China, other countries, such as Japan and South Korea to stand as one of the leaders in data centre services market, thus promoting the need for cable connectors market.



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Cables and Connectors Market Drivers



Surge in demand for higher bandwidth cables & connectors among different industries



There is a significant demand for high bandwidth in the telecom industry, cloud applications, TV-on-demand, video services, and online gaming. Wired transmission connection offers greater bandwidth, enhanced reliability & agility, and improved security in comparison to wireless communication. For instance, wired LAN offers 100Mpbs bandwidth using Ethernet technology, whereas the maximum bandwidth offered by wireless network is about 11Mbps. Moreover, wireless transmission is lower in underwater operations, due to the use of low frequency to keep the attenuation (power loss in transmitted signal) minimum and prevent slowdown of transmission rate. For instance, if attenuation has to be reduced from 5.4 DB to 0.4 DB, the frequency needs to be reduced from 1.8 MHz to 0.01 MHz. However, wired communication is totally exempted from any such limitations; hence, it is a faster medium as compared to wireless transmission. Thus, increase in demand for higher bandwidth and rise in need of faster transmission are expected to drive the growth of the cables and connector market in future.



Growing investments and innovations by companies of cables and connectors



Rising investments by manufacturers of cables and connectors for innovation in this segment will drive the market growth. In 2019, TE Connectivity launched its AMP+ HVA 1200 HV terminal and connector system. With the new AMP+ HVA1200 HV terminal and connector system (HVA 1200) automotive manufacturers benefitted from a high-performance interconnection system for their next-generation vehicles. In addition several companies are investing heavily for the advancements in this segment. In 2019, YAZAKI had built its first Serbian plant by investing $30 million focusing mainly on automotive cable manufacturing. The company is currently planning to expand its operations to South Eastern Europe in order to expand its global presence. Similarly, in 2019, Prysmian Group had planned to make an investment of $170 million in a new cable laying subsea vessel. In addition this company has secured several contracts in submarine cable laying business with an order intake of $1.2 billion. Hence these advancements are analysed to drive the market growth in the forecast period 2020-2025.



Cables and Connectors Market Challenges



Volatile Prices of Raw Material



Prices of cables & connector are set to continue to rise through 2020, as the price of plastics and steel in particular have risen in 2019. Copper price however was offset by the rise in mine output. This rise in connector material price has seen a corresponding growth in connector prices as manufacturers look to transfer the price change onto their customers. However with the U.S, China trade war and volatile geopolitical conditions, the price of connectors is highly capricious. However the copper and plastic price will remain bearish from 2021 with slight declines projected. Thus, this price volatility will affect the sale of connectors in the short term as bookings have already begun to show slight slowdown. This combined with a potential shift of manufacturing base for a few U.S companies back to the U.S, a price rise can be seen to affect market growth.



Cables and Connectors Market Landscape



Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Cables and Connectors market. In 2020, the market of Cables and Connectors industry outlook has been fragmented by several companies. Cables and Connectors top 10 companies include Alcatel-Lucent, Amphenol Corp., Axon Cable, Esterline Technologies Corp., Fujitsu, Huawei Technologies Co. Ltd., Molex, Inc., Nexans S.A., Prysmian Group, TE Connectivity Ltd., among others.



Acquisitions/Technology Launches

In February 2020, TE Connectivity extended its partnership with PEI-Genesis, a global leader in the design and assembly of custom engineered connectors and cable solutions to offer connector solutions specific to the Industrial Business Unit.



Key Takeaways



Asia-Pacific dominated the market by a market share of more than 35.1% in 2020 due to the rising demand of high-speed cables and connectors along with increasing investments in infrastructure development in countries such as India and China.

USB cable and connector is growing at a highest CAGR of 12.9% in the forecast period owing to the increase in demand for digital data storage and the emergence of USB 3.0, 3.1 and 4.0 standards for high-speed data transfer.

Connectors and Cables in Automotive sector is growing at a CAGR of 13.1% in the forecast period owing to the growing applications of cables and connectors power, signal, data transfer and other application.

Cables and Connectors top 10 companies include Alcatel-Lucent, Amphenol Corp., Axon Cable, Esterline Technologies Corp., Fujitsu, Huawei Technologies Co. Ltd., Molex, Inc., Nexans S.A., Prysmian Group, TE Connectivity Ltd., among others.



Related Reports:



A. Fiber Optics Cable Market

https://www.industryarc.com/Research/Fiber-Optics-Cable-Market-Research-505792



B. RF Coaxial Connector Market

https://www.industryarc.com/Report/19042/rf-coaxial-connector-market



For more Electronics Market reports, please click here



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IndustryARC

Venkat Reddy

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venkat@industryarc.com

Source: EmailWire.Com

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