Industrial Automation Cable Market Size, Share, Growth, and Industry Growth by Type (Sensor Cable, Bus Cable, Power Cable, and Others) By Application (Automotive, Electronics and Electrical, Chemical, Food and Beverage, Medical, Oil and Gas, and Others) Regional Forecast By 2031

Updated On: 29 April 2024

Industrial Automation Cable Market Report Overview

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The global industrial automation cable market size was USD 8677.1 million in 2022, as per our research, the market is projected to touch USD 15,535.87 million in 2031, exhibiting a CAGR of 6.7% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with industrial automation cable experiencing higher-than-anticipated demand across all regions compared to the pre-pandemic level. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Industrial automation cable is designed to carry signal. It allows communication with automation equipment. The product is primarily to control automated equipment. Also, the are extensively used in electronics and electrical, automotive, food and beverage, automation environments, and chemical.

The growing investments for transforming conventional manufacturing plants and rise in development of advanced & digitized systems is anticipated to fuel market growth. Further, growth in the industrial automation system is predicted to propel market progress. High demand for data exchange and rise in need for high-performance networks is predicted to expand market growth. Also, recent development in automation sector and increased market players in the region is estimated to boost market growth in the forthcoming years. The cables are used in several sectors such as pharmaceutical, automated warehousing & picking facilities, and mining. In addition, advancement in internet of Things (loT) and growing need for digitized systems is anticipated to flourish market growth in the upcoming years. On the contrary, the cost of the cables is predicted to limit market progress in the forthcoming years.

COVID-19 Impact: Growth in The Electronics Sector During the Pandemic Period Fuel Market Progress.

The spread of coronavirus pandemic boosted demand for digitalization. Growth in the electronics sector during the pandemic period fuel market progress. High need for automation surge product demand. However, closure of industrial activities and other sector slightly affected market growth.

LATEST TRENDS

"Increased Demand from Automation to Surge Market Progress"

Growing need for automation and the equipment is typically designed to carry signal. The high need for automation is predicted to fuel market progress. The advantages of automation are estimated to boost the product adoption. The benefits are improved worker safety, faster ROI, increased production output, consistent and improved part quality and production, which is estimated to fuel market growth. Further, growth in the industrial automation system is predicted to propel market progress. High demand for data exchange and rise in need for high-performance networks is predicted to expand market growth. Also, recent development in automation sector and increased market players in the region is estimated to surge market growth in the forthcoming years.

Industrial Automation Cable Market Segmentation

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• By Type

Based on type, the market is divided into sensor cable, bus cable, power cable, and others.

Sensor cable is expected to be the top part of the type segmentation

• By Application

Based on the application, the market is divided into automotive, electronics and electrical, chemical, food and beverage, medical, oil and gas, and others.

Electronic and electrical is expected to be the top part of application segmentation.

DRIVING FACTORS

"Growth in Electronic Sector to Accelerate Market Progress"

The growing investments for transforming conventional manufacturing plants and rise in development of advanced & digitized systems is anticipated to fuel market growth. The product is used for power distribution. The cables ensure safety and rely for critical operations. The cables are used in several sectors such as pharmaceutical, automated warehousing & picking facilities, and mining. In addition, advancement in internet of Things (loT) and growing need for digitized systems is anticipated to flourish market growth in the upcoming years. Growing urbanization and industrialization coupled with rise in disposable income is anticipated to surge industrial automation cable market progress.

"Several Advantages of the Cables in Industrial Activities to Flourish Market Growth "

The cables have several advantages such as saving and safety of labor, quality accuracy and precision. The equipment offers. High need to minimize risk in automation and process control applications is anticipated to drive market growth. The cables are used from power distribution cables for production lines and automated machinery. The need for smooth and responsible running of sensitive control equipment is anticipated to surge market growth in the forthcoming years. Some of the cables has special features such as high-temperature, which is extensively used in industrial activities. The cables have consistent electrical characteristics and flexibility, which is anticipated to drive market growth in the upcoming years.

RESTRAINING FACTORS

"High Cost of the Cables to Obstruct Market Growth "

The cost of the cables is predicted to limit market progress in the forthcoming years.

Industrial Automation Cable Market Regional Insights

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"Growing Need for Effective Solutions to Upgrade Industrial Plants in Asia Pacific to Drive Market Share "

Asia Pacific is estimated to witness dominate industrial automation cable market share owing to growing need for effective solutions to upgrade industrial plants in regions such as Japan, India, and China. Presence of several manufacturing companies in the region. Further adoption of the cables ensures reduce labor requirements, minimized energy usage, and less raw material wastage. High production of automobile and new product development to gain market shares.

North America is estimated to dominate market share due to high demand for data exchange and rise in need for high-performance networks is predicted to expand market growth. Also, recent development in automation sector and increased market players in the region is estimated to surge market growth in the forthcoming years. The cables are used in several sectors such as pharmaceutical, automated warehousing & picking facilities, and mining. In addition, advancement in internet of Things (loT) and growing need for digitized systems is anticipated to flourish market growth in the upcoming years

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Prysmian (Italy)
• LS Cable & System (South Korea)
• Lutze (Germany)
• Nexans (France)
• Belden (U.S.)
• BizLink (U.S.)
• Oki Electric (Japan)
• TKH Group (Netherlands)
• LAPP (Germany)
• SAB Brockskes (Germany)
• Helukabel (Germany)
• Wanma Cable (China)
• TPC Wire & Cable (U.S.)
• Elettrotek Kabel (U.S.)
• Eland Cables (U.K.)
• MotionCables (U.K.)
• Lorom Industrial (China)
• Zhejiang Zhaolong (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.