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Cables and Connectors Market

Growing Usage Across Thriving Automotive and Telecommunications Sectors to Fuel Cables and Connectors Market Sales!

Cables and Connectors Market by Type (HDMI, USB, VGA, CAT5/CAT6)

Cables and Connectors Market Outlook (2022 to 2032)

Overall sales of Cables and Connectors generated revenues worth US$ 106.5 billion in 2022. Over the next ten years, the global cable and connector demand is set to rise at 7.0 CAGR. This will take the global cables and connector market size to US$ 210 billion by the end of 2032.

Demand for cables and connectors is likely to remain high in the automotive sector. As per Persistence Market Research (PMR), the automotive segment will expand at a CAGR of around 6.8% from 2022 to 2032. This is due to rising application of cables and connectors in the thriving automotive sector.

Key Factors Pushing the Cables and Connectors Demand:

  • Growing demand for cables and connectors from automotive, telecommunication, and several other industries is driving the market
  • Rising government investments & initiatives for improving connectivity will propel cable and connector demand
  • Increasing penetration of digitalization and 5G internet to bolster cables and connectors sales
  • Expansion of oil & gas and energy sectors will support market expansion
  • Adoption of electrification in automotive industry to fuel sales of cables and connectors
  • Surging demand for higher bandwidth cables and connectors to boost the global market
  • Rising investments in defense sector will create opportunities for cable and connector manufacturers
  • Escalating usage of electronic devices such as smartphones and laptops will spur growth
  • Growing popularity of advanced technologies such as IoT, big data, and AI will elevate demand
  • Increase in fixed broadband connections globally will trigger cables and connectors sales
  • Availability of customized cables and connectors will create ample revenue-generation opportunities for cable and connector companies.

From connecting computers to business telecommunication systems to transferring data/signals in modern automotive, cables and connectors have gained immense traction globally. They are being used across diverse industries for data or signal transmission.

Adoption of cables & connectors allows users to transfer data and provide high-end connectivity. Growing usage of cables and connectors in automotive, energy, telecommunication, and aerospace sectors will drive the global market forward.

Widespread usage of electronics due to rapid digitalization will create high demand for consistent and reliable connectivity solutions. This in turn will create growth prospects for the cables and connectors industry.

Governments across the world are investing large amounts in network infrastructure to improve connectivity. This is creating high demand for transmission cables and connectors, and the trend is likely to continue through 2032.

Transition towards electric and hybrid vehicles is forecast to act as a catalyst triggering cable and connector sales. Electrification has resulted in increasing usage of electronic components in vehicles. To connect these components cables and connectors are being employed.

Cables & Connectors are used in applications such as lighting, braking, and transmission, among others. Growing demand for vehicles integrated with advanced technologies such as ADAS will bolster cable and connector sales.

Burgeoning demand for cables & connectors with high reliability and tolerance from oil and gas industry will support market expansion.

Asia Pacific is likely to retain its dominant position in the global cables and connectors market. This is due to growing need for cables and connectors in the thriving automotive sector. Similarly, penetration of high-speed internet and presence of leading cable & connector manufacturers is boosting Asia Pacific market.

As per PMR, Asia Pacific will hold around 48.4% share of the worldwide cables and connectors industry during the projection period.

Attributes Key Insights
Current Cables and Connector Market Size (2022) US$ 106.5 billion
Projected Market Size (2032) US$ 210 billion
Value-based CAGR (2022 to 2032) 7%
USA Market CAGR (2022 to 2032) 5.8%
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2017 to 2021 Cables and Connectors Sales Outlook Compared to Demand Forecast from 2022 to 2032

Global cable and connector sales increased at around 7.9% CAGR from 2017 to 2021. For the next ten years (2022 to 2032), cable and connector demand is likely to rise at 7.0% CAGR. The worldwide market for cables and connectors will create an absolute $ opportunity of US$ 103.5 billion through 2032.

The automotive sector has been at the forefront of incorporating connectors and cables such as USB and HDMI in recent years. Hence, expansion of automotive sector and shift towards electric vehicles will foster cable and connector sales.

The market will also expand due to government initiatives to boost connectivity across nations and a surge in demand from various businesses for greater bandwidth networks.

Rise in expenditure on military and underwater cables by various organizations will further elevate cable and connector demand.

Rising need for user-friendly and simple-to-install cables and connectors across oil & gas and other sectors will bode well for the market. Additionally, the market expansion will be triggered by rising demand for effective cables and connectors that would increase refinery efficiency and oil and gas company profitability.

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Which Factors are Spurring Demand for Cables and Connectors?

Growing Need for High Bandwidth and Quicker Transmission to Propel Demand

In the telecom sector, video services, cloud applications, online gaming, and TV-on-demand, there is a considerable need for high bandwidth. In comparison to wireless communication, a wired transmission link offers more bandwidth, higher dependability & agility, and improved security.

Additionally, wireless transmission is less efficient in underwater operations since the low frequency is used to minimize attenuation and prevent transmission rate slowing. As a result, the market for cables and connectors is likely to develop due to rising need for larger bandwidth and quicker transmission.

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Which are the Factors Limiting Expansion of the Global Cables and Connectors Industry?

Among the crucial raw materials needed for the creation of cable connectors are plastic-based components. This includes Teflon-related materials such as ETFE, PTFE, FEP, & TFE for cable conductors and insulation, PVC grains, and copper material for wires.

The unpredictable costs of these raw materials put further strain on the manufacturer's profit margins. Copper is one of the basic elements that are most commonly utilized due to its cheaper cost and greater utilization of cable connections.

The status of the global economy has a critical impact on copper prices. Its broad usage across several economic sectors, including manufacturing, electronics, power production, transportation, and construction, leads to varying prices. This in turn is limiting market expansion.

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Country-wise Insights:

How Big is the Opportunity in the USA Cables and Connectors Market?

The USA cables and connectors market is projected to reach US$ 33.1 billion in 2032. From 2017 to 2021, the market for cables and connectors in the United States grew at a CAGR of 4.8%.

Over the next ten years, cable and connector sales across the United States are set to rise at 5.8% CAGR. The market will create an absolute $ growth of US$ 14.4 billion between 2022 and 2032.

Rising demand for cables and connectors from thriving defense and energy sectors is driving the United States of America market forward. Rapid digitalization and rise in government initiatives to improve connectivity within the country will further elevate demand for cables and connectors.

Various United States-based cable and connector manufacturers are developing novel products to meet end user demand. They are also using merger & acquisition strategy to strengthen their position.

For instance, in March 2020, TE Connectivity Ltd. acquired a stake of 71.87% in First Sensor AG. To support the growth plan of TE's sensors business and TE Connectivity as a whole, TE will be able to provide an even larger product base. This included cutting-edge, market-leading sensors, connectors, and systems as well as best-in-class capabilities.

What Makes the United Kingdom a Lucrative Market for Cables and Connectors?

The United Kingdom cables and connectors market is forecast to cross a valuation of US$ 5.7 billion by 2032. It will generate an absolute $ opportunity of US$ 2.4 during the assessment period.

Cables and connectors demand in the United Kingdom increase at a CAGR of 3.4% from 2017 to 2021. Over the next ten years, sales of cables and connectors in the country will rise at and is 5.4% CAGR.

Expansion of automotive and telecommunication sectors is providing impetus to the United Kingdom cables & connectors market. Further, shift towards electric vehicles will bolster cable and connector sales in the country through 2032.

Amid rising demand from various sectors, United Kingdom-based cable and connector companies are launching new solutions. For instance, in August 2020, GTK United Kingdom added mid-mount RJ45 connectors and USB to its connector range.

These connections have a substantially lower profile than typical side-entry equivalents. They sit within a cut-out in the PCB. As a result, they are located flush with the PCB. Development of these new cables and connectors will support market expansion in the United Kingdom.

Category-wise Insights:

Which Type of Cables and Connectors Will Create Lucrative Opportunities for the Market?

The USB type of cables and connectors is forecast to create lucrative growth opportunities for the market. As per PMR, the USB segment grew at around 7.7% CAGR from 2017 to 2021. Over the next ten years, this segment will expand at 6.9% CAGR.

Rising need for faster data transfer coupled with high adoption of USBs will boost growth of the target segment through 2032. This in turn will create opportunities for cable and connector manufacturers.

Which Industry is the Leading Consumer of Cables and Connectors?

Cables and connectors are being increasingly used in automotive industry. This is due to increasing need for customized connectors and cables across the thriving automotive industry. Demand for cables and connectors in the automotive industry grew at 7.5% CAGR from 2017 to 2021. Over the next ten years, the automotive segment is set to expand at 6.8% CAGR.

Growing adoption of sophisticated electronic systems, such as audio controls, driver assistance systems, diagnostic systems, and infotainment systems will elevate demand for cables and connectors in automotive industry.

Rapid rise in the production and adoption of electric cars will further boost cable and connector sales worldwide. The wiring of automobiles has changed as a result of new automotive technology. The essential electrical parts must reliably transfer data, signals, and power under controlled circumstances.

The ambition for using reliable connection technology from racing cars to robotics in the form of autonomous vehicles has been broadened by hybrid electric and electric vehicles. As a result, there has been a critical advancement in cable connections.

Competitive Landscape:

Leading cable and connector manufacturers are focusing on expanding their product portfolios. They are spending rigorously in research and development to develop new innovative products.

Recent Developments:

  • In June 2022, Amphenol Corporation introduced UL1977 DIN Connectors. The UL1977 connectors include a special contact technology that enables more contact points and a better rate of conductivity. They provide coupling with 80% less effort than the existing industry standard.
  • In February 2021, Axon Cable introduced Micro-D type connectors. These micro-D connectors have undergone extensive testing on numerous space missions, including the Mars rovers Curiosity and Perseverance and the European mission ExoMars. They are compact, lightweight, dependable, and made for harsh space environments.
  • In October 2022, Molex launched NearStack PCIe Connector System and cable Assemblies for open compute project servers.

Scope of the Report:

Attribute Details
Estimated Market Size (2022) US$ 106.5 billion
Projected Market Size (2032) US$ 210.0 billion
Anticipated Growth Rate (2022 to 2032) 7.0% CAGR
Forecast Period 2022 to 2032
Historical Data Available for 2017 to 2021
Market Analysis
  • US$ Million for Value
  • MT for Volume
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East & Africa
Key Countries Covered
  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Nordic
  • Russia
  • Poland
  • China
  • India
  • Thailand
  • Indonesia
  • Australia
  • New Zealand
  • Japan
  • GCC countries
  • North Africa
  • South Africa
  • Others
Key Segments Covered
  • Type
  • Industry
  • Region
Key Companies Profiled
  • Alcatel-Lucent
  • Amphenol Corp.
  • Axon Cable
  • 3M Company
  • Molex Inc.
  • Huawei Technologies Co. Ltd.
  • Nexans SA
  • Prysmian Group
  • TE Connectivity Ltd.
  • Sumitomo Corporation
Report Coverage
  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • Drivers Restraints Opportunity Trends Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Cables and Connectors Market Segmentation:

By Type:

  • HDMI
  • VGA
  • USB
  • CAT5/CAT6

By Industry:

  • Automotive
  • Commercial
  • Energy and Power
  • Aerospace and Defense

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Alcatel-Lucent
  • Amphenol Corp.
  • Axon Cable
  • 3M Company
  • Fujitsu
  • Huawei Technologies Co. Ltd.
  • Molex Inc.
  • Nexans S.A.
  • Prysmian Group
  • TE Connectivity Ltd.

- Frequently Asked Questions -

The global cable and connector market size reached US$ 106.5 billion in 2022.

The global cables and connectors industry is set to reach a valuation of US$ 210 billion by 2032.

The worldwide cables and connectors industry expanded at 7.9% CAGR from 2017 to 2021.

Global cables and connectors demand is forecast to surge at CAGR of 7% between 2022 and 2032.

Automotive industry remains the leading consumer of cables and connectors.

Between 2022 and 2032, cable and connector sales in China will surge at 8.5% CAGR.

Between 2022 and 2032, sales of cables and connectors in the USA are set to rise at 5.8% CAGR.

Cables and connectors market in South Korea and Japan will expand at 7.5% and 7.3% CAGRs respectively.

Expanding at 8.5% CAGR, China market is set to reach a valuation of US$ 52.9 billion by 2032.

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