The 2021 World Cable Assembly Market report offers an in-depth analysis of this growing and thriving industry. The worldwide cable assembly market will grow at a compound annual rate of 5.9% from 2021 to 2026.
We are in the midst of a receding pandemic which is severely rocking the economies of the world. Regional GDP growth and regional market sector performance were primary drivers for the projections of the industry contraction/growth. Worldwide market share in the cable assembly market is beginning to stabilize and the shift overseas has slowed.
The fastest growing market segment is Telecom/Datacom with a five-year CAGR of 7.8%. This market growth is primarily the result of the need for expanded network infrastructure and conversion to 5G.
The automotive market, which is the largest cable assembly market sector, will also continue to grow after the 2020 downturn, and will spur growth in the industrial sector during the forecast period. After two decades of strong growth, China’s cable assembly industry is now the largest in the world holding a market share of 30.8% in 2020. Will China continue to grow, however?