Speedometer is a device used to measure speed of a vehicles in order to monitor and maintain the pace of the vehicle. Basically, there are two configurations of speedometers in automobile, mechanical and electronic.
Automotive speedometer cable is one of the essential part of the speedometer in aiding the measurement of the vehicle’s speed. A rotating flexible cable usually linked to the transmission gearbox of the vehicle is termed as a speedometer cable. A small permanent magnet is attached to the automotive speedometer cable along with an aluminum cup which is attached to the analogue speedometer instruments.
Automotive speedometer cables are designed in various forms and dimensions on the basis of the vehicle tire size and its rear gear ratio. Automotive speedometer cables find their use during the OEM production assembly as well as in aftermarket vendors for replacement of the device.
Owing to the rise in global automotive production and subsequent vehicle on road fleet, the demand for automotive speedometer has increased over the years. The growing demand for speedometers have positively impacted the speedometer cable market.
With the government regulations getting stricter on road safety has increased such as vehicle speed in various countries, the same is anticipated to augment the demand of automotive speedometer cable market. At present, the usage of electronic speedometers are being preferred over the conventional automotive speedometer cables owing to improved efficiency which is expected to be the dominant segment in the long run.
However, with the measuring instruments adopting wireless technology enabling superior device and portability, the factor may considerably impact the automotive speedometer cable market growth.
With number of international as well as domestic players the automotive speedometer cable is the market is said to be fairly competitive. Cost competitiveness and brand development remains the key differentiating factors for key players gaining competitive edge and further consolidation of business footprint.
The COVID-19 pandemic has impacted the global economy, causing supply chain disruptions and reduced rate of production in the manufacturing sector, the automotive industry has also not been spared. As a result, a substantial slowdown in manufacturing in the first three quarters of 2020 has been witnessed as in the case of automotive speedometer cables.
The outlook remains uncertain for the remaining quarter of the year as the scope of the pandemic and its effect on production and demand & supply chains. As per current market sentiments, the industry experts and market participants expect growth revival of Speedometer Cable market not sooner than after 4 financial quarters from the current fiscal.
The automotive manufacturing scenario in Asia Pacific provides an optimistic outlook for automotive speedometer cable market in the coming years whereas, North America and Europe are estimated to hold the a hefty market value share.
The steadily increasing investments in automobile industry in various countries such as Algeria and Morocco in Middle East & Africa is anticipated to further boost the automotive speedometer cable market. The market across geographies is anticipated to driven by growth and demand from passenger vehicles.
Some of the key market participants in the global Automotive Speedometer Cable market, identified across the value chain include:
The research report on the Automotive Speedometer Cable market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Automotive Speedometer Cable market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, aircraft type, and sales channel.
The global Automotive Speedometer Cable market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global Automotive Speedometer Cable market can be segmented on the basis of Material Type, Speedometer type, Vehicle Type and Sales Channel
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Automotive Speedometer Cable Market
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