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© Rimaster Electronics Production | September 14, 2010

Market for transportation cable assemblies to grow 20%

The world market for transport cable assemblies is expected to grow by around 20% in 2010, to USD 4’357 million, states market researcher Bishop & Associates.
The world market for cables assemblies in transportation reached USD 4’864 million in 2008. This declined by 25.3% to USD 3’632 million in 2009, with the largest decline registered in Europe (27.6%) and North America (26.3%).

However, the market researcher forecasts a rebound for 2010 and the market is expected to grow by 20% to USD 4’357 in 2010, reaching almost the level of 2008 again. The five-year compound annual growth rate is forecasted to reach 6.5%.

The growth and general development of the industry will likely depend on the recovery of the world economies, with the most profitable regions being China & Europe, the market researcher continues.

Image for illustration purposes only.

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