Development Status of Automotive Cable Industry

The global automotive industry has undergone a century of development and transformation, evolving from simple mechanical vehicles to the era of intelligent automobiles. It has now entered a mature stage of industry and become one of the pillar industries of the national economy in major industrial countries. From 2013 to 2017, global automobile production and sales maintained steady growth. From 2018 to 2020, due to unfavorable factors such as trade frictions between China and the United States and macroeconomic fluctuations, the global automotive market experienced sluggish growth and overall showed a downward trend. Since 2021, with the gradual recovery of major global markets, the introduction of consumer stimulus policies in various countries, and the continuous increase in the penetration rate of new energy vehicles, the demand for the automotive industry has ushered in a new round of growth momentum. Data shows that the global automobile production in 2024 will be 93.95 million units, a year-on-year decrease of 0.5%; The sales volume was 90.6 million units, a year-on-year increase of 1.79%. From January to October 2025, global car sales reached 79.25 million units, a year-on-year increase of 6%, and the market showed a steady recovery trend.

In the automotive industry, automotive cables are a key component of automotive electronics, responsible for important functions such as power transmission, signal transmission, and control. With the continuous improvement of automotive electrification and intelligence levels, as well as the rapid expansion of the new energy vehicle market, the market demand for automotive cables is showing a strong growth trend. In recent years, the rapid development of the global automotive industry, especially in the field of new energy vehicles, has further promoted the growth of demand in the automotive cable industry and driven the continuous expansion of the industry scale. According to statistics, the global market size of the automotive cable industry has grown from $5.821 billion in 2020 to $7.174 billion in 2024, with a compound annual growth rate of 5.36%. In the future, benefiting from the gradual recovery of global automobile production, the increase in penetration rate of new energy vehicles, the popularization of intelligent driving technology, and the acceleration of automobile electronicization, it is expected that the market size of China's automotive cable industry will grow to 7.729 billion US dollars by 2025.