In India, The Auto control cables are the fast moving spares used in two/three wheel vehicles and have very good replacement market. These cables enable the driver to control the various vehicle functions, and have a very wide market all over the country. The machines, equipment and raw material for manufacturing these cables are easily available and the technology is fully indigenised. The Unit can be set up in all major cities or near the city area and requires very nominal investment in plant and machines.
Automotive control cables are widely used in various controls of two/three wheel vehicles. These cables are designed for electric powertrain units in cars, a terms that includes the motor, transmission and drive shafts to deliver power and in turn torque to the drive wheels. Each type of cable is of different size depending upon the specific purpose of the cable. Auto Control cables are parts of the two and three wheelers which come into play in controlling the movement of the vehicle. These are actually flexible link motions and assist in the starting, accelerating and stopping of the Vehicle. Cable and wire are very closely related, as cable is simply a structure of multiple wires. Both can be used for a variety of applications, from power and data transmission to structural and control uses, depending on their materials and structure.
The automotive control cable market is anticipated to grow at a CAGR of 5% during the forecast period of 2019-2029. Auto control cables are among the most frequently replaced parts of the two and three wheelers and hence the demand for these in the replacement - parts market is very high. Auto control cables have a very wide and never ending replacement market, as the various control cables have to be replaced in any Scooter, Motorcycle, Auto Rickshaw, Moped etc. Automotive control cables are the most frequently used spare parts in vehicles due to their cost advantage. The demand for automotive control cables is expected to continue to grow steadily in the upcoming years.
The global automotive control cable market is expected to witness high growth during the forecast period. The automotive industry has witnessed significant growth over the recent past. The increasing disposable income of the middle class population increases the demand for passenger cars, which in turn, is expected to propel the demand for control cables. Rapid urbanization and development have led to the creation of more roads and pathways for the movement of traffic. People are traveling more than ever before. Various governing bodies are launching initiatives to promote the use of public transport. This increase in the movement of people with the help of automobiles leads to depreciation of the life of the vehicle and its parts. Therefore, many spare parts, such as automotive control cables, require replacement.
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