Mechanical Control Cable Global Market Report 2023
Major players in the mechanical control cable market are Triumph Group, Elliott Manufacturing, Orscheln Products, Glassmaster Controls Company Inc., Loos Co. Inc., Bergen Cable Technology Inc., Küster Holding GmbH, Wescon Controls, Tyler Madison Inc.
New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mechanical Control Cable Global Market Report 2023" - https://www.reportlinker.com/p06480080/?utm_source=GNW , Sila Group, Cablecraft Motion Controls, Drallim Industries Limited, Grand Rapids Controls LLC., AeroControlex, and Silco Cables.The global mechanical control cable market is expected to grow from $9.16 billion in 2022 to $9.85 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mechanical control cable market is expected to reach $12.67 billion in 2027 at a CAGR of 6.5%.The mechanical control cable market consists of sales of throttle cable, transmission cable, morse cable, bowden cable, and vernier control cable.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.A mechanical control cable refers to a cable or wire that transfers power from one component of the machine to another. These control cables are utilized to transmit multi-directional precision mechanical motion control.North America was the largest region in the mechanical control cable market in 2022. The regions covered in mechanical control cable report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and AfricaThe main types of mechanical control cables are pull-pull mechanical cables and push-pull mechanical cables.Pull-pull mechanical cables are used in applications that call for the transmission of forces in the pull mode of operation.These are made of wire material and jacket material for aerial, land, and marine platforms. These are employed in the engine control, auxiliary control, landing gears, brake control, and others by commercial, defense, and non-aero militaries.An increase in air passenger traffic is expected to propel the growth of the mechanical control cable market going forward.Air traffic refers to a person responsible for directing the movements of aircraft.Air passenger traffic is prompting aircraft companies to arrange more domestic and international flights, resulting in increased aircraft manufacturing, which spikes the usage of mechanical control cables in landing gears and aircraft flight control systems. For instance, in 2022, according to the International Air Transport Association (IATA), a Canada-based trade association, total passenger traffic rose by 64.4% compared to 2021. In December 2022 alone, the traffic was increased by 39.7% compared to December 2021. Therefore, increased air passenger traffic drives the mechanical control cable market.Product innovation is a key trend gaining popularity in the mechanical control cable market going forward.Major companies operating in the mechanical control cable market are developing innovative products to strengthen their position in the market.For instance, in February 2023, Belden Incorporated, a US-based networking, connectivity, and cable product manufacturer, launched Custom Broadcast Enclosures and Panels, along with NewGen CPR-Rated Access Control Cables.Belden NewGen CPR-Rated, Access Control Cables add a new level of ease and comfort to any security installation, lowering labor costs while attaining excellent signal transmission performance.NewGen CPR-Rated Access Control Cables with a high flame rating are available as a cost-effective alternative to facilitate security system communication.In August 2021, Torque Capital, a US-based private equity firm that approaches lower middle-market manufacturing investment operationally, acquired Cable Manufacturing & Assembly, Inc. for an undisclosed amount. With this acquisition, Cable Manufacturing and Assembly gets the resources to fortify its present alliances and quicken both of its objectives for organic expansion and add-on acquisitions. Cable Manufacturing & Assembly, Inc. is a US-based manufacturer and designer of mechanical control cables.The countries covered in the mechanical control cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The mechanical control cable market research report is one of a series of new reports that provides mechanical control cable market statistics, including the mechanical control cable industry global market size, regional shares, competitors with a mechanical control cable market share, detailed mechanical control cable market segments, market trends, and opportunities, and any further data you may need to thrive in the mechanical control cable industry. This mechanical control cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06480080/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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