At 7.6% CAGR, the North America Automotive High Voltage Cable Market is projected to be worth US$ 775.04 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the North America automotive high voltage cable market was valued at US$ 430.39 million in 2022 and is expected to reach US$ 775.04 million by 2030, registering a CAGR of 7.6% from 2022 to 2030. Increasing production of electric vehicles and rising initiatives related to safety requirements and test methods for EV high voltage systems are the critical factors attributed to the North America automotive high voltage cable market expansion.             

Initiatives toward safety requirements and test methods for EV high voltage systems aim to ensure the efficient and reliable operation of EVs while prioritizing the safety of occupants and the surrounding environment. Properly functioning cables are crucial for the safe operation of automobiles, as any malfunction can lead to serious safety hazards such as short circuits or latency in self-driving vehicle cameras. To address safety concerns, standards such as IEC 62955 have been established. This standard provides guidelines for designing and testing EV high-voltage cables, covering aspects such as electrical performance, mechanical robustness, and environmental resistance. By adhering to these standards, automotive high-voltage cable manufacturers can ensure the safety and reliability of their products. New policies and regulations have been introduced by governments to regulate factors such as protection against electric shock, electrical isolation, and environmental resistance. These regulations create a framework that promotes the adoption of safe and reliable EV high voltage systems, thereby increasing the need for high-quality cables that meet the specified safety requirements. Various initiatives are emerging to promote EV high voltage systems and ensure compliance with safety standards. For example, the SAE J1772 standard has established guidelines for charging connectors and communication protocols used in EV charging infrastructure, including high voltage cable. These initiatives provide a roadmap for manufacturers to develop cables that meet the necessary safety and performance standards. As safety regulations and test methods for EV high voltage systems evolve, the demand for automotive high voltage cables also grows. Manufacturers prioritizing safety and adhering to these requirements are well-positioned to meet the increasing market demand. Thus, increasing initiatives regarding safety requirements and test methods for EV high voltage systems drive the growth of the North America automotive high-voltage cables market.

On the contrary, availability of counterfeit automotive cables hampers on the growth of North America automotive high voltage cable market. 

Based on vehicle type, the North America automotive high voltage cable market is segmented into battery electric vehicles (BEV), plugin hybrid electric vehicles (PHEV), plugin hybrid vehicles (PHV). The battery electric vehicles (BEV) segment held 70.9% market share in 2022, amassing US$  305.34 million. It is projected to garner US$ 563.52 million by 2030 to expand at 8.0% CAGR during 2022–2030.

Based on conductor type, the North America automotive high voltage cable market is bifurcated into copper and aluminum. The copper segment held 69.9% share of North America automotive high voltage cable market in 2022, amassing US$ 300.74 million. It is projected to garner US$ 548.93 million by 2030 to expand at 7.8% CAGR during 2022–2030.

Based on core type, the North America automotive high voltage cable market is segmented into multi core and single core. The multi core segment held 59.8% share of North America automotive high voltage cable market in 2022, amassing US$  257.30 million. It is projected to garner US$  480.37 million by 2030 to expand at 8.1% CAGR during 2022–2030.

Based on country, the North America automotive high voltage cable market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.9% share of North America automotive high voltage cable market in 2022. It was assessed at US$ 365.48 million in 2022 and is likely to hit US$ 667.29 million by 2030, exhibiting a CAGR of 7.8% during 2022–2030.

Key players operating in the North America automotive high voltage cable market are Champlain Cable Corp, Coroplast Fritz Muller GmbH & Co KG, Gebauer & Griller Kabelwerke GmbH, Huber+Suhner AG, LEONI AG, Prysmian SpA, Shanghai KMCable Group Co Ltd, and Sumitomo Electric Industries Ltd, among others.

• In 2023, HUBER+SUHNER updated its SUCOFLEX 570S cable assembly for the Test and Measurement and High Speed Digital industries. Offering an excellent price performance ratio, this high-quality solution can be adapted for customer-specific needs.

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