Ribbon Cable Market Driven by Miniaturization Trend in 2024
Comprising of many insulated conductors woven together, ribbon cables are used extensively as backplane cables in servers, networking equipment and telecommunication devices.
The Global Ribbon Cable Market is estimated to be valued at US$ 3.2 Billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the ribbon cable market are Molex, Sumitomo Electric, Fujikura, 3M, Hitachi, ABB, Nexans, Prysmian, SAB Brockskes, Belden, and Cooner Wire.
The growing demand for data centers, enterprise networking equipment, industrial automation solutions, telecom infrastructure and consumer electronics is expected to drive volumes in the ribbon cable market. Miniaturization trends have resulted in thinner and more dense motherboards, backplanes and circuit cards requiring ribbon cables with finer pitches between conductors.
Geographically, the Asia Pacific region currently dominates ribbon cable consumption led by countries like China, South Korea, Taiwan and Japan. This is attributed to the large presence of OEM manufacturing facilities for electronics and networking equipment. Meanwhile, North America and Europe are also seeing increased investments into high speed computing and 5G infrastructure which will support ribbon cable market revenues through 2030.
Market Key Trends
One of the key trends gaining traction in the ribbon cable market is the move towards thinner, lighter and more flexible flat cables. Traditionally woven together, next generation ribbon cables are being produced using novel bonding techniques that remove the thickness of insulation between conductors. This allows up to 50% higher conductor density and bending flexibility compared to standard ribbon cables. Driven by requirements for miniaturization and bendability in portable consumer devices as well as data center and telecom applications, flat ribbon cables are expected to capture over 15% of the market by 2030.
Porter’s Analysis
Threat of new entrants: Ribbon Cable Market Size manufacturing has high initial capital requirements and manufacturing processes requires specialized skills and machinery. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and existence of multiple players. Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials used in manufacturing of ribbon cables are readily available. Threat of new substitutes: Wireless communication is emerging as substitute but ribbon cables still have strong usage in electronic devices and data centers. Competitive rivalry: Market has presence of multiple global and regional players leading to intense competition on pricing and product offerings.
North America holds the largest share of ribbon cable market due to strong presence of electronic device manufacturers and data centers. The ribbon cable market in Asia Pacific region is expected to grow at fastest rate due to expanding electronics manufacturing industry and increasing number of data centers in countries like China and India.
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