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According to Technavio's latest market research report, global automotive control cables will grow at a compound annual growth rate of nearly 4% from 2018 to 2022, but its global market growth rate is declining due to the year-on-year decline in growth
.
The automotive control cable market is witnessing the evolution of design, material usage, and manufacturing processes, automotive control cables are not only more durable and reliable, but also improve the efficiency
of the entire system that uses them.
According to Technavio, one of the key factors contributing to the growth of the global automotive control cable market is the significant
cost reduction due to the use of cost-effective materials and manufacturing processes.
Automotive control cables are cost-effective and inexpensive, so they can be used
in large quantities in every vehicle.
In addition, automotive OEMs purchase these control cables in bulk or in large quantities to make the overall cost more economical
.
This is one of the major factors contributing to the growth of
the market.
According to a senior analyst at Technavio who studied automotive components, "OEMs use control cables made of different materials, such as steel or aluminum, depending on the application and vehicle type
.
The use of better quality materials can improve work and function
in the desired location.
The manufacturing cost is also less, as these cables are made from the wire by pulling wire, which mainly uses different grades of high-stretch spring steel
.
During the manufacturing process, steel or aluminum is placed into various wires of the required diameter as a starting material
.
These wires are then stranded through various intermediate stages of wire drawing to produce the wire rope
to the required specifications.
”
In 2017, passenger cars accounted for the largest market share of the global automotive control cable market, accounting for nearly 79%.
This application segment is expected to dominate the global market
throughout the forecast period.
Regionally, the Asia-Pacific region accounted for nearly 54%
of the market in 2017.
The region is expected to dominate the market in 2022, with its market share growing by 2%.
Please specify if reproduced)
According to Technavio's latest market research report, global automotive control cables will grow at a compound annual growth rate of nearly 4% from 2018 to 2022, but its global market growth rate is declining due to the year-on-year decline in growth
.
The automotive control cable market is witnessing the evolution of design, material usage, and manufacturing processes, automotive control cables are not only more durable and reliable, but also improve the efficiency
of the entire system that uses them.
According to Technavio, one of the key factors contributing to the growth of the global automotive control cable market is the significant
cost reduction due to the use of cost-effective materials and manufacturing processes.
Automotive control cables are cost-effective and inexpensive, so they can be used
in large quantities in every vehicle.
In addition, automotive OEMs purchase these control cables in bulk or in large quantities to make the overall cost more economical
.
This is one of the major factors contributing to the growth of
the market.
According to a senior analyst at Technavio who studied automotive components, "OEMs use control cables made of different materials, such as steel or aluminum, depending on the application and vehicle type
.
The use of better quality materials can improve work and function
in the desired location.
The manufacturing cost is also less, as these cables are made from the wire by pulling wire, which mainly uses different grades of high-stretch spring steel
.
During the manufacturing process, steel or aluminum is placed into various wires of the required diameter as a starting material
.
These wires are then stranded through various intermediate stages of wire drawing to produce the wire rope
to the required specifications.
”
In 2017, passenger cars accounted for the largest market share of the global automotive control cable market, accounting for nearly 79%.
This application segment is expected to dominate the global market
throughout the forecast period.
Regionally, the Asia-Pacific region accounted for nearly 54%
of the market in 2017.
The region is expected to dominate the market in 2022, with its market share growing by 2%.
Please specify if reproduced)
