Overview and Scope
Industrial automation cables are specialized cables designed to facilitate the transmission of data, signals, and power within industrial automation systems. They ensure seamless communication and power distribution among various automated machinery and equipment in industrial settings and improve efficiency and productivity.
Sizing and Forecast
The industrial automation cable market size has grown strongly in recent years. It will grow from $7.54 billion in 2023 to $8.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the need for high-speed data transmission, reliable power supply, emerging economies, and infrastructure development, the rise in the development of advanced and digitized systems, high demand for data exchange.
The industrial automation cable market size is expected to see strong growth in the next few years. It will grow to $11.38 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to rising demand for more efficient data transmission and power supply solutions globally, rising transition of the conventional production process and facilities, increasing demand for industrial automation cable, and rise in the need for high-performance networks. Major trends in the forecast period include technological advancements, recent developments in factory optimization, innovative solutions to automotive or agricultural industries, advancements in Internet of Things (IoT), and increasing adoption of automation technologies.
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Segmentation & Regional Insights
The industrial automation cable market covered in this report is segmented –
1) By Product Type: Ethernet Cables, Fieldbus Cables, Servo Cables, Robot Cables, Other Product Types
2) By Cable Type: Copper Cables, Fiber Optic Cables
3) By Sales Channel: Direct Sales, Distributor Sales
4) By Application Industry: Automotive, Oil And Gas, Energy And Power, Manufacturing, Aerospace And Defense, Chemicals And Petrochemicals, Pharmaceuticals, Food And Beverage, Other Applications
Europe was the largest region in the industrial automation cable market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial automation cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing shift towards robotics is expected to propel the growth of the industrial automation cable market going forward. Robotics is an interdisciplinary topic that studies the design, construction, use, and analysis of autonomous or semi-autonomous robots that can mimic or enhance human actions. The use of robots is rising due to the rapid breakthroughs in robotics technology, which include advancements in artificial intelligence, control systems, actuators, and sensors. Industrial automation cables are integral components of robotic systems, enabling efficient power transmission, signal communication, data exchange, flexibility, and safety in industrial automation applications. For instance, according to the International Federation of Robotics (IFR), a Germany-based non-profit organization, global sales of industrial robots reached 384,000 units in 2021, an increase of 16% compared to the previous year. Therefore, the growing adoption of robotics drives the growth of the industrial automation cable market.
Key Industry Players
Major companies operating in the industrial automation cable market are Prysmian Group, Borealis AG, Southwire Company, LLC, Nexans, Hitachi Metals, Ltd., Anixter International Inc., LEONI AG, Fujikura Ltd., LS Cable & System, Oki Electric, Belden, LAPP, Wanma Cable, TKH Group NV, Bizlink Holding Inc., Helukabel, igus GmbH, SAB Brockskes, Eland Cables, Alpha Wire Company, Teldor Cables & Systems Ltd., Cicoil LLC, Lorom Industrial, TPC Wire & Cable, Cables Unlimited, Inc., General Cable, Elettrotek Kabel, Zhejiang Zhaolong, Lutze, MotionCables
The industrial automation cable market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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