Automotive Throttle Cables Market Size Worth USD USD 3.27 Billion, Globally, by 2030 at a CAGR of 2.5%

Automotive Throttle Cables Market to Grow at 2.5% CAGR from 2023 to 2030; Venhill Launched Upgraded Products for the KTM and Husqvarna 2-Stroke Crossers to Gain Competitive Edge

Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) — The global automotive throttle cables market size was USD 2.71 billion in 2022. The market is anticipated to expand from USD 2.75 billion in 2023 to USD 3.27 billion by 2030, exhibiting a CAGR of 2.5% over the estimated period. The expansion can be credited to the rising demand for vehicles on the road. This is set to boost the product demand for controlling vehicle speed. Fortune Business Insights™ provides this information in its research report, titled “Automotive Throttle Cables Market, 2023-2030”.

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Report Highlights:

Market Drivers & Restraints-

Market Share to Rise with Growing Deployment of Aftermarket Throttle Cables in Old Vehicles

One of the key factors driving the automotive throttle cables market growth is the surging adoption of aftermarket cables in old vehicles. A number of manufacturers focus on developing products suitable for fitting to any vehicle. However, the manufacturers of automotive parts depict a shift toward the usage of ETCS (Electronic Throttle Control Systems). This may hamper the industry’s growth over the forthcoming years.

COVID-19 Impact-

Market Value Affected due to Halt in Throttle Cable Production amid the Pandemic

The COVID-19 pandemic led to a decrease in vehicle production, impacting the demand for throttle cables. The period also recorded the closure of manufacturing units, which restrained cable production. However, the product demand was revived with the lifting of lockdown and travel restrictions.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/automotive-throttle-cables-market-108459

Segments-

Passenger Cars Segment Dominated the Market due to Surging Urbanization

On the basis of vehicle type, the market for automotive throttle cables is subdivided into commercial vehicles, passenger cars, and two-wheelers. The passenger cars segment held a key market share in 2022 impelled by the growing disposable income and soaring urbanization.

OEM Segment to Lead Impelled by Escalated Vehicle Production

By sales channel, the market for automotive throttle cables is fragmented into aftermarket and OEM. The OEM segment accounted for a dominating share in the market in 2022 and is set to exhibit appreciable growth over the estimated period. The expansion is driven by a spike in vehicle production during the post-pandemic period. Based on geography, the market for automotive throttle cables is segmented into North America, Asia Pacific, Europe, and the rest of the world.

Report Coverage-

The report offers an in-depth coverage of the major trends in the market. It further provides an analysis of the key factors driving the industry expansion over the coming years. The report also gives an account of the pivotal strategies deployed by leading companies for bolstering their market positions.

Regional Insights-

Asia Pacific to Lead Due to the Presence of Major Automotive Manufacturers

The Asia Pacific accounted for a key position in the global automotive throttle cables market share in 2022. The regional market is set to exhibit the fastest CAGR over the analysis period. The rise is impelled by the presence of leading automotive manufacturers and increasing urbanization in the region.

The North American market is expected to register a substantial CAGR over the study period. The expansion can be attributed to the interest of the regional populace in deploying collectable vintage vehicles. The operation of these automobiles requires traditional throttle cables.

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Competitive Landscape-

Key Companies Devise New Strategies to Strengthen Industry Foothold

Major industry players design and deploy new strategies for bolstering their positions in the market. These comprise acquisitions, merger agreements, partnerships, collaborations, and the launch of new automotive throttle cables. Companies are also forming alliances and undertaking research activities to increase their geographical footprints.

List of Key Players Covered in Automotive Throttle Cables Market Report:-

• 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)
• PHC Valeo Aftermarket (Korea)
• Cablecraft Motion Controls (U.S.)
• DURA Automotive Systems (U.S.)

Automotive Throttle Cables Market Segmentation:-

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Sales Channel

• OEM
• Aftermarket

Key Industry Development:

March 2023 – Venhill introduced upgraded throttle cables for the KTM and Husqvarna 2-stroke crossers – from the 50cc junior range up to the 250cc models. The cables are a direct replacement for the Husky and OEM KTM items. The solutions would deliver durability and improved performance in addition to smoother action.

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Table of Contents:-

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
  • Market Trends
• Key Insights
  • Key Industry Developments – Mergers, Acquisitions & Partnerships
  • Latest Technological Advancements
  • Porters Five Forces Analysis
  • Supply Chain Analysis
  • Impact of COVID-19 Pandemic on Global Automotive Throttle Cables Market
• Global Automotive Throttle Cables Market Analysis, Insights and Forecast, 2019-2030
• Key Findings / Definition
• Market Analysis, Insights and Forecast – By Vehicle Type
  • Passenger Cars
  • Commercial Vehicles
  • Two Wheelers
• Market Analysis, Insights and Forecast – By Sales Channel
  • OEM
  • Aftermarket
• Market Analysis, Insights and Forecast – By Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Toc Continued…..

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