Industrial Automation Cable Global Market Report 2024

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 expansion observed in the historical period can be attributed to several factors, including the increasing demand for high-speed data transmission, reliable power supply infrastructure, growth in emerging economies, and infrastructure development initiatives. Additionally, the rise in the development of advanced and digitized industrial systems has contributed to the adoption of industrial automation cables. Furthermore, there has been a high demand for efficient data exchange mechanisms within industrial settings, driving the growth of the industrial automation cable market.

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 projected growth in the forecast period can be attributed to several key factors, including the rising global demand for more efficient data transmission and power supply solutions, the increasing transition of conventional production processes and facilities towards automation, and the growing need for industrial automation cables to support these advancements. Additionally, there is an escalating requirement for high-performance networks to meet the demands of modern industrial applications. Major trends expected in the forecast period include ongoing technological advancements in industrial automation cable technologies, recent developments in factory optimization strategies, the emergence of innovative solutions tailored for industries such as automotive and agriculture, advancements in Internet of Things (IoT) integration with industrial systems, and a steady increase in the adoption of automation technologies across various sectors.

The increasing adoption of robotics is poised to drive the growth of the industrial automation cable market in the near future. Robotics, an interdisciplinary field involving the design, construction, and application of autonomous or semi-autonomous robots, is experiencing a surge due to significant advancements in technology. These advancements, encompassing artificial intelligence, control systems, actuators, and sensors, are fueling the proliferation of robots across diverse industries. Industrial automation cables play a crucial role in robotic systems, facilitating efficient power transmission, signal communication, data exchange, flexibility, and safety in industrial automation environments. According to the International Federation of Robotics (IFR), global sales of industrial robots reached 384,000 units in 2021, marking a 16% increase compared to the previous year, highlighting the momentum driving the industrial automation cable market.

Key players in the industrial automation cable market are strategically focused on innovating products such as XtendedFlex 178 to enhance their market position and profitability. XtendedFlex 178 is a high-flex coaxial cable specifically designed for applications requiring continuous cable motion and flexibility. For example, in March 2023, Times Microwave Systems, a US-based manufacturer specializing in innovative microwave interconnect assemblies and cables, introduced the 'XtendedFlex 178' continuous flex coaxial cable. Customized for use with plastic cable drag chains, the XF-178 cable is engineered to meet the demands of applications characterized by uninterrupted movement and adaptability, particularly in sectors such as robotics and industrial automation prevalent in expansive distribution centers.

In February 2021, Interplex, a Singapore-based enterprise specializing in the design and manufacturing of interconnect and mechanical products, successfully concluded the acquisition of OCP Group, Inc. for an undisclosed amount. This strategic move by Interplex aims to strengthen its presence in the medical and life sciences sector, focusing on the development and provision of tailored interconnect and cable assembly solutions. OCP Group, Inc., headquartered in the US, specializes in manufacturing custom cables and wire harnesses, offering industrial cables tailored for automation and robotics applications. This acquisition aligns with Interplex's strategic objectives of expanding its market reach and diversifying its product portfolio.

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.

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.

The countries covered in the industrial automation cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Industrial automation cables are specifically engineered cables crafted to enable the transmission of data, signals, and power within industrial automation systems. These cables play a crucial role in facilitating seamless communication and power distribution among various automated machinery and equipment in industrial settings. By ensuring reliable connectivity, industrial automation cables contribute to improving efficiency and productivity within automated manufacturing processes.

The primary product types within the industrial automation cable market include Ethernet cables, fieldbus cables, servo cables, robot cables, and other specialized cable variants. Ethernet cables are ubiquitous network cables employed in wired networks, linking devices such as PCs, routers, and switches within a local area network (LAN). These cables come in various types, including copper cables and fiber optic cables, and are distributed through sales channels such as direct sales and distributor sales. They find application across a wide range of industries, including automotive, oil and gas, energy and power, manufacturing, aerospace and defense, chemicals and petrochemicals, pharmaceuticals, food and beverage, and other sectors requiring industrial automation solutions.

The industrial automation cable market research report is one of a series of new reports that provides industrial automation cable market statistics, including the industrial automation cable industry global market size, regional shares, competitors with an industrial automation cable market share, detailed industrial automation cable market segments, market trends and opportunities, and any further data you may need to thrive in the industrial automation cable industry. This industrial automation cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The industrial automation cable market consists of sales of connector cables, inter-bus cables, railway cables, and marine cables. 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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