Mechanical Control Cable Global Market Report 2024

The mechanical control cable market has grown strongly in recent years. It will grow from $9.85 billion in 2023 to $10.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion observed in the historical period can be attributed to factors such as the utilization of mechanical control cables in the renewable energy sector, the adoption of automated systems in manufacturing, applications in heavy equipment, integration into medical devices, and the overall requirement in industrial machinery.

The mechanical control cable market is expected to see strong growth in the next few years. It will grow to $13.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to the demand from the automotive industry, expansion in the aerospace sector, growth in the marine industry, an increase in construction equipment usage, and rising demand for automation and robotics. Major trends expected in the forecast period include a demand for high-performance applications, a focus on customization and versatility, an emphasis on enhanced durability and longevity, a shift towards lightweight materials, and the integration of advanced coatings.

The anticipated increase in air passenger traffic is set to drive the growth of the mechanical control cable market in the future. Air passenger traffic involves directing the movements of aircraft, and the surge in air travel is compelling aircraft companies to schedule more domestic and international flights. This, in turn, leads to heightened aircraft manufacturing activities, increasing the demand for mechanical control cables in critical components such as landing gears and aircraft flight control systems. According to the International Air Transport Association (IATA) in 2022, total passenger traffic witnessed a substantial 64.4% increase compared to 2021. Specifically, in December 2022, there was a notable 39.7% rise in traffic compared to December 2021. Consequently, the upswing in air passenger traffic acts as a driving force for the mechanical control cable market.

The growing demand for electric vehicles is poised to fuel the growth of the mechanical control cable market in the coming years. Electric vehicles (EVs) are powered by electricity stored in rechargeable batteries, utilizing electric motors for propulsion. Mechanical control cables play a crucial role in EVs, enabling manual operation of various components such as brakes and accelerators, serving as a backup control mechanism alongside electronic systems. As per a report by the International Energy Agency in April 2023, the global electric car market witnessed significant growth, with sales surpassing 10 million in 2022. The percentage of electric cars in overall car sales rose from 9% in 2021 to 14% in 2022. Hence, the escalating demand for electric vehicles is a key driver for the mechanical control cable market.

A noteworthy trend gaining momentum in the mechanical control cable market is product innovation. Major companies in this market are actively developing innovative products to enhance their market positions. For example, in February 2023, Belden Incorporated, a US-based manufacturer specializing in networking, connectivity, and cable products, introduced Custom Broadcast Enclosures and Panels, along with NewGen CPR-Rated Access Control Cables. These new products by Belden, specifically the NewGen CPR-Rated Access Control Cables, provide enhanced ease and efficiency to security installations, reducing labor costs while ensuring excellent signal transmission performance.

Leading companies in the mechanical control cable market are embracing strategic collaboration approaches to advance helicopter flight controls. Strategic collaborations involve formal partnerships between organizations aimed at achieving mutually beneficial goals through shared resources, expertise, and efforts. An instance of this is the collaboration between Triumph Group, a US-based aerospace company, and Kopter, a Switzerland-based helicopter developer, in March 2023. Triumph Group received a development contract to manufacture Kopter AW09 main and tail rotor control cables, leveraging TRIUMPH's renowned flexible cable design known for precision, flexibility, and low maintenance.

In August 2021, Torque Capital, a US-based private equity firm focusing on lower middle-market manufacturing investments, acquired Cable Manufacturing & Assembly, Inc. The acquisition equipped Cable Manufacturing & Assembly with resources to strengthen existing alliances, accelerate organic expansion, and pursue additional acquisitions. Cable Manufacturing & Assembly, Inc. is a US-based manufacturer and designer of mechanical control cables.

Major companies operating in the mechanical control cable market report are Triumph Group Inc., Elliott Manufacturing Company, Orscheln Products LLC, Glassmaster Controls Company Inc., Loos & Co. Inc., Bergen Cable Technology, Küster Holding GmbH, Wescon Controls Inc., Tyler Madison Inc., Sila Group S.p.A., Cablecraft Motion Controls Inc., Drallim Industries Limited, Grand Rapids Controls LLC, AeroControlex Corporation, Silco Cables, Cable Manufacturing & Assembly Inc., Escadean Ltd., Ringspann GmbH, Lexco Cable Mfg., VPS Control Systems Inc., Federal Electronics Inc., Electro-Prep Inc., ACCO Engineered Systems Inc., B&B Manufacturing Company, Berardi Cable Controls Inc., Cable-Tec Inc., Cleveland Cable Company, Dynamic Controls Inc., Electromecanica de Precisão Lda., Furukawa Electric Co. Ltd., Hi-Tech Cable Assemblies Inc.

North America was the largest region in the mechanical control cable market in 2023. The regions covered in the mechanical control cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mechanical control cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of mechanical control cables include pull-pull mechanical cables and push-pull mechanical cables. Pull-pull mechanical cables are utilized in applications that require the transmission of forces in the pull mode of operation. These cables are typically constructed with specific wire and jacket materials suitable for use in aerial, land, and marine platforms. Pull-pull mechanical cables find applications in various systems such as engine control, auxiliary control, landing gears, brake control, and others, serving commercial, defense, and non-aero military purposes.

The mechanical control cable market research report provides mechanical control cable market statistics, including the mechanical control cable industry global market size, regional shares, competitors with a mechanical control cable market share, detailed mechanical control cable market segments, market trends, and opportunities, and any further data you may need to thrive in the mechanical control cable industry. This mechanical control cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The mechanical control cable market consists of sales of throttle cable, transmission cable, morse cable, bowden cable, and vernier control cable. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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