AUTOMOTIVE WIRE AND CABLE MATERIALS MARKET ANALYSIS (2019-2027)

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2. AUTOMOTIVE WIRE AND CABLE MATERIALS MARKET ANALYSIS (2019-2027) • Automotive Wire and Cable Materials Market, by Material Type (Polyvinyl Chloride (PVC), Polypropylene (PP), Cross-linked Polyethylene (XLPE), Thermoplastic Polyurethane (TPU), Polyphenylene Ether (PPE), and Others (Fluoropolymers, Polyurethane, Neoprene, Ethylene Propylene Rubber, and Co-polyester Elastomer)), by Vehicle Type (Passenger vehicle segment is further sub-segmented into (Compact Cars, Sub-compact Cars, Mid-size Cars, Sedan, Luxury Cars, and Vans), LCV, and HCV) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Market Overview • Different types of cables are used in cars that need to deal with vibration, heat, hydrocarbons, etc. These wires and cables are manufactured from different types of materials though aluminum and copper two of the most popular types of automotive wire materials. Copper is majorly used material as it is more conductive, flexible, and less likely to corrode than aluminum wire. Generally, these wires are soldered or solderless. Solderless connections are often used for terminals such as crimp terminals to make connections. Moreover, wires and cables are manufactured with different colors, in order to organize and repair them. • The global automotive wire and cable materials market was valued at US$ 4,424.4 Mn in 2018 and is expected to grow at a CAGR of 6.4% during the forecasted period (2019-2027)

4. Market Dynamics- Driver • Increasing demand for electric and hybrid vehicles are expected to drive growth of the global automotive wire and cable materials market during the forecast period • Automakers around the globe are introducing new electric car model with advanced features, in order to expand their consumer base. Consumers are increasingly preferring eco-friendly, electric cars over conational gasoline cars, which in turn, is expected to drive the market growth over the forecast period. Moreover, hybrid cars offer benefits of both conventional and electric cars. In fact, it offers better fuel efficiency than regular petrol cars with incorporation of electrical system. Hybrid vehicles are consist of invertors and electric motors that are connected by AC and DC wiring harnesses. This, in turn, is expected to increase adoption of electric and hybrid cars and thereby drive the market growth over the forecast period.

5. High growth of global automotive market is expected to propel the global automotive wire and cable materials market growth over the forecast period • The global automotive market has witnessed significant growth in the recent past. According to Coherent Market Insights’ analysis, the global automotive market growth was led by South Korea, India, Japan, China, and the U.S., with these accounting for 60.1% of the global cars and commercial vehicles production in 2015. Furthermore, India and China are expected to be the major contributors in the near future. This is owing to rapid urbanization and changing lifestyles in the region. Thus, high growth of global automotive market is expected to boost the global automotive wire and cable materials market over the forecast period. • Asia Pacific region dominated the global automotive wire and cable materials market in 2018, accounting for 56.1% share in terms of value, followed by Europe, and the North America, respectively

6. Source: Coherent Market Insights

7. Market Dynamics- Restraints • Growing adoption of automotive Ethernet by OEMs are expected to restrain the global automotive wire and cable materials market growth in the near future • Major OEMs in the market are increasingly adopting automotive Ethernet in both internal and external electronic devices connectivity in automobile. Automotive Ethernet is mainly used in high-end and luxury cars. The current trend suggests automakers are expected to shift to Ethernet for production of other cars as well. Ethernet is slowly catching up with Hyundai making use of automotive Ethernet for infotainment systems in its upcoming cars, while Volkswagen deploying automotive Ethernet for drive-assist systems. Incarnation of Ethernet in automotive industry is going to hinder the adoption of wires as it reduces complex wiring structure, which in turn, is expected to hinder the market growth.

8. Additional weight imposed on vehicle is expected to hamper the global automotive wire and cablematerials market growth over the forecast period • Automobiles usually consist of hundreds of meters of wires, extending from headlights and taillights, carpeting, doors, dashboards, seats, and frames.  These wires lead to additional of around hundreds of kilometers that reduce fuel efficiency and overall performance. Growing adoption of novel technologies such as Ethernet is expected to decrease the use of wires and cables and thereby hamper the market growth in the near future.

9. Market Opportunities • Proactive initiatives by government to support adoption of electric and hybrid cars • Governments of various countries have taken proactive initiatives such as tax concessions, subsidies, etc., in order to increase sales of electric and hybrid cars. For instance, up until 2013, the U.S. Government used to offer tax credit of US$ 7,500 to eligible buyers. The sum was returned to electric cars owner if the tax paid regularly during financial year. In 2014, the government announced to increase tax credit to US$ 10,000, which would be made at the point of purchasing. According to IEE Whitepaper, electric vehicles are expected to comprise 40% of total vehicle by 2035 in the U.S.

10. Availability bio-based plasticizer as a substitute to traditional PVC plasticizers • Although PVC is the most-preferred insulation and jacketing material for wires, growing concerns regarding environmental hazards have increased adoption of bio-based plasticizers. Bio-based plasticizer is an environment-friendly solution since it satisfies the temperature requirement of the wiring application. However, further research needs to be done before it is fully accepted as an insulation and jacketing material in wires and cables.

11. Source: Coherent Market Insights

12. Market Trends • Increasing demand for car digitization and connectivity is a major trend in the market • Increasing demand for car digitization and connectivity, which is an integral part of vehicle and communication is expected to boost the consumption of automotive wires and cables. Moreover, these wires are being used to aid communication with other vehicles through intelligent and enhanced roadway infrastructure. • Growing adoption of aluminum in place of copper to reduce weight • Manufacturers in the market are focused on replacing copper wire with aluminum wire for the use in battery cables, in order to reduce cost and vehicle weight. This is a major trend in the market is expected to continue during the forecast period

13. Segment information: • On the basis of vehicle type, the global automotive wire and cable materials market is segmented into passenger cars, LCV, and HCV. Among all of these vehicle type, Passenger Vehicles dominated the global automotive wire and cable materials market in 2018, accounting for 77% share in terms of value, followed by LCV, and HCV, respectively.

14. Source: Coherent Market Insights

15. Value Chain Analysis

16. Competitive Section • Key companies operating in the global automotive wire and cable materials market are ACOME, Allied Wire & Cable Inc., Coficab Tunisie SA, Coroplast Fritz Muller GmbH & Co. KG, Delphi Automotive PLC, Draka Holdings B.V., Lear Corporation., Leoni AG, Sumitomo Electric Industries, Ltd., and Yazaki Corporation.

17. Key Developments • Key companies in the market are focused on signing contract, in order to gain competitive edge in the market. For instance, in June 2015, J-Power Systems, a wholly owned subsidiary of Sumitomo Electric Industries Ltd., entered into a contract with NEMO LINK to supply and install HVDC XLPE insulated cable at DC 400 kV wit transmission capacity of 1,000 MW. • Key players in the market are involved mergers and acquisitions, in order to enhance their market presence. For instance, in December 2015, Delphi Automotive PLC acquired HellermannTyton Group, a global manufacturer of cable management solutions, to strengthen its position in the automotive electrical architecture market.

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