Global Mechanical Control Cable Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Mechanical Control Cable Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Mechanical control cables provide push-pull or other functions to mechanically actuate components. They consist of mechanical cables with cables, fork eyes, front forks, studs, handles or other accessories. Depending on the type of movement used, mechanical control cables are often referred to as push-pull control cables or pull-pull mechanical control cables.

Market Overview:

The latest research study on the global Mechanical Control Cable market finds that the global Mechanical Control Cable market reached a value of USD 3612.49 million in 2022. It’s expected that the market will achieve USD 4219.28 million by 2028, exhibiting a CAGR of 2.62% during the forecast period.

The industrial chain is affected

The COVID-19 outbreak has disrupted business and economic activities globally. It is expected to have a short-term impact on the Mechanical Control Cable market to a certain extent. With several countries across the globe announcing nationwide lockdowns and temporary closures of various industries, production and manufacturing have been severely affected. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The epidemic situation has seriously affected the logistics and transportation, and the transportation of raw materials is difficult. The industrial chain of small and medium-sized enterprises is imperfect and fragile. Trade barriers have further impacted the demand-supply gap. Companies operating in the Mechanical Control Cable market have suspended non-essential visits/activities until the COVID-19 outbreak is resolved.

The production cost of enterprises increases

With the gradual control of the epidemic, some factories began to resume operation. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.

Development Trend

With stricter emission regulations, lower battery costs, wider charging infrastructure, and increasing consumer acceptance, electric vehicles are becoming viable and competitive. Mechanical control cable manufacturers should keep their existing customers, and at the same time focus on developing new customers in the field of electric vehicles. Because electric vehicles will dominate in the future.

Trade conflict and Brexit

Global trade conflicts and Brexit may have the potential to disrupt global automotive demand. This could affect the financial status of mechanical control cables manufacturers.

Development of electric vehicles

Deloitte data show global electric vehicles market is for a compound annual growth rate of 29 % achieved over the next ten years. EVs would secure approximately 32% of the total market share for new vehicles sales in 2030. The application of mechanical control cables in electric vehicles will have a large market.

Region Overview:


Geographically, China held the largest market share – 22.78% in 2021.


Company Overview:

HI-LEX is one of the major players operating in the Mechanical Control Cable market, holding a share of 34.18% in 2022.

Segmentation Overview:

By type, Pull-Pull Mechanical Cables segment accounted for the largest share of market in 2021.

Push-pull

Mechanical control cables are divided into push-pull or pull-pull types. For push-pull mechanical control cables, compression can push the movement in one direction, and tension can push the movement in the other direction. Mechanical control cables with push-pull function can be used as alternative products for hydraulic, pneumatic and electrical control systems.

Pull-pull

When using a pull-pull mechanical control cable, tension will apply movement in one direction, and spring actuation will return the control to its starting point. These types of mechanical control cables are used in applications where tension is required to transmit forces.

Application Overview:

The market's largest segment by application is the segment Automotive, with a market share of 64.5% in 2021.

Automotive

In the automotive industry, safety and longevity are of paramount importance.
Mechanical control cables play an important role in the automotive industry. The components have flexibility, high strength-to-weight ratio, quiet operation, long life expectancy, minimal maintenance and affordable prices.

Non-Automotive

Non-Automotive mechanical control cable generally refers to mechanical control cable applied to loaders, dumpers, marine, etc.

Key Companies in the global Mechanical Control Cable market covered in Chapter 3:

Orscheln Products
Ningbo Auto Cable Controls
Suprajit Group
Drallim Industries
Remsons
Ningbo Gaofa Automotive Cable
Crane Aerospace & Electronics
Triumph Group
Bergen Cable
Spark Minda
Thai Steel Cable
DURA Automotive Systems
Fortatech AG
Kongsberg Automotive
Cable-Tec
Madhusudan Auto
HI-LEX

In Chapter 4 and Chapter 14.2, on the basis of types, the Mechanical Control Cable market from 2018 to 2029 is primarily split into:

Pull-Pull Mechanical Cables
Push Pull Mechanical Cables

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Mechanical Control Cable market from 2018 to 2029 covers:

Automotive
Non-automotive

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)