Automotive wires & cables market to grow at a CAGR of 5.3%

Global Automotive Wires & Cables Market was valued at USD 36.02 billion in 2023 and is expected to grow at a CAGR of 5.3% during 2025-2030, according to Research and Markets.

The Automotive Wires & Cables Market is growing steadily, driven by the increasing complexity of automotive electrical systems and the rising demand for electric and hybrid vehicles. Automotive wires and cables are essential components in modern vehicles, serving to transmit electrical power and signals between various parts of the vehicle, including the engine, lighting, infotainment systems, and safety features. As vehicles become more advanced, with features such as autonomous driving, connected car technology, and enhanced infotainment systems, the demand for high-quality wires and cables has surged.

One of the primary drivers of the market is the growing demand for electric and hybrid vehicles, which require more complex wiring systems compared to traditional internal combustion engine vehicles. Electric vehicles (EVs) rely heavily on wiring to transmit electrical power from the battery to various components, including the motor and charging systems. As governments around the world promote the adoption of EVs through incentives and stricter emissions regulations, the demand for automotive wires and cables is expected to rise significantly.

In addition to the EV boom, the increasing integration of advanced driver assistance systems (ADAS) and connected car technologies has further propelled the market for automotive wires and cables. These systems rely on high-speed data transmission and require sophisticated wiring solutions to function efficiently. The automotive industry’s focus on safety, connectivity, and electrification is expected to continue driving the demand for innovative wire and cable solutions.

Geographical Insights
The Asia-Pacific region dominates the Automotive Wires & Cables Market, driven by the rapid growth of the automotive industry in countries like China, Japan, and South Korea. The region’s strong focus on electric vehicle production and the increasing adoption of connected car technologies have contributed to market growth. The Americas also hold a significant share, particularly in the U.S., where the demand for electric vehicles and advanced automotive technologies is on the rise. Research and Markets.