By 2025 the Asia-Pacific region will lead the global flexible cable market
International market research firm Persistence Market Research has released 2017-2025 global flexible cable market research report said that by 2025, the Asia-Pacific region will lead the global flexible cable market.
The main requirements for flexible cables come from household electrical wiring. With the growth of the population and the increase in personal income, real estate business growth will stimulate the demand for flexible wiring, to promote the increase in demand for flexible cables. At the same time, the automotive industry, consumer electronics products will also further enhance the growth of flexible wiring market demand. Due to the structure and design of automotive and consumer electronics products, flexible cables play a pivotal role in connecting various power points and end connections.
On a global scale, innovation in a variety of product areas is competitive, making it more efficient and flexible. Taking into account this general situation, it is foreseeable that the flexible cable market will be less limited.
Geographically, the flexible cable market is divided into seven regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (excluding Japan), Japan, Middle East and Africa (MEA). APEJ is the dominant market for flexible cables. APEJ and other countries, such as China, South Korea, India, are experiencing tremendous economic reforms that have led to the implementation of various projects, industrialization and increased connectivity, bringing room for the huge demand for flexible cables.
In addition, the APEJ countries in the 21st century have become hubs in the automotive, consumer electronics and IT industries, which is another major factor in the increased demand for flexible cables. In addition to the APEJ region, North America is another major flexible cable market, North America developed data center, IT industry, the automotive industry will promote the demand for flexible cables.
Western Europe is another area where demand for flexible cables is growing, as the demand for the automotive industry as well as the development of the renewable energy industry in the region will be in a healthy state.
It is noteworthy that Japan is ahead of Eastern Europe in the flexible cable market. Japan has always been a large producer of cutting-edge electronic equipment and cars. These two industries will promote Japan's demand for flexible cable growth.
In the multilateral environmental agreement, the Gulf Cooperation Council countries are rapidly modernizing and gradually moving away from the oil economy. GCC projects and industry implementation will bring flexible cable requirements.