Global Automotive Throttle Cables Market Size Study & Forecast, By Vehicle Type (Passenger Cars, Commercial Vehicles), By Sales Channel (OEM and Aftermarket), and Regional Analysis, 2023-2030

Global Automotive Throttle Cables Market Size Study & Forecast, By Vehicle Type (Passenger Cars, Commercial Vehicles), By Sales Channel (OEM and Aftermarket), and Regional Analysis, 2023-2030

Global Automotive Throttle Cables Market is valued at approximately USD 2.71 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 2.5% over the forecast period 2023-2030. The automobile throttle cable serves a critical function in the engine system of a car by connecting the gas pedal to the throttle body, which is frequently combined with the cruise control system. Its main purpose is to control the speed of the vehicle, achieved through a platted metal cable that establishes a mechanical connection between the gas pedal and the engine. The Automotive Throttle Cables Market is expanding because of factors such as the cable's standardization, cost-effectiveness, and ease of installation, which promotes substantial growth throughout the forecast period. In addition, the increasing adoption of aftermarket throttle cables in old vehicles, coupled with the rise in government regulations related to vehicle safety, emissions, and performance standards, are the key driving factors for market growth across the globe.

Also, the growing demand for vehicles is directly associated with the demand for automotive throttle cables as these cables are essential for speed control on the road. This includes both original equipment for new vehicles and aftermarket replacements for maintenance and customization purposes. Furthermore, the diversity in vehicle types and technological advancements contribute to a continuous and resilient market demand for throttle cables, ensuring their ongoing relevance and importance in the automotive sector. As per the International Organization of Motor Vehicle Manufacturers, global commercial vehicle production reached about 21.78 million units in 2020, with passenger cars totaling around 55.83 million units. By 2021, these numbers rose to approximately 23.09 million units for commercial vehicles and 57.05 million units for passenger cars worldwide. Thus, these aforementioned factors are propelling the growth of the Automotive Throttle Cables Market during the estimated period. Moreover, the increasing development of high-quality throttle cables, as well as the advancements in technology present various lucrative opportunities over the forecast years. However, the replacement of throttle cables with Electronic Throttle Control Systems (ETCS) and the fluctuations in raw material prices are hampering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Throttle Cables Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the robust automotive manufacturing sector and a substantial production capacity. Additionally, the region's growing urbanization has led to increased vehicle sales, which contributes to market expansion. Whereas North America is expected to grow at a significant CAGR over the forecast years. The rise in automotive production, the growing focus on advancing material and design, along the surge in the adoption of electric and hybrid vehicles are significantly propelling the market demand across the region.

Major market players included in this report are:
ATP Automotive (U.S.)
Venhill USA (U.S.)
Wuxi Huafeng Car & Motor Fittings Co., Ltd. (China)
Pioneer Automotive Industries (U.S.)
Motion Pro (U.S.)
Orscheln Products (U.S.)
Imperial Cable Co., Ltd. (Thailand)
Silco Automotive (U.S.)
Magnum Shielding Corporation (U.S.)
Tata Autocomp Systems (India)

Recent Developments in the Market:
 In October 2022, Venhill expanded its Featherlight Cable offerings by creating control cables for Indian motorcycles, featuring marine-grade stainless steel inner wires and a PTFE (Teflon) liner for reduced friction.
 In June 2022, Venhill collaborated with Buell Motorcycle to enhance the clutch and throttle cables for its motorcycles, replacing the previous cables with Venhill Featherlight Cables, providing consumers with easy access to aftermarket products.

Global Automotive Throttle Cables Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Vehicle Type, Sales Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Passenger Cars
Commercial Vehicles

By Sales Channel:
OEM
Aftermarket

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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