Vietnam Automotive Handbrake & Clutch Cable Market to Grow with a CAGR of 5.09% through 2030
The
Vietnam Automotive Handbrake & Clutch Cable Market is driven by the growing
automotive industry, rising demand for safety components, and increasing
adoption of electric vehicles. These factors are contributing to the market's
expansion, as vehicle production grows, and consumers demand higher-quality
components. Technological advancements in cable materials are also improving
the durability and performance of handbrake and clutch cables. These are the
factors driving the market in the forecast period 2026-2030.
According
to TechSci Research report, “Vietnam Automotive
Handbrake & Clutch Cable Market – By Region, Competition,
Opportunities and Forecast, 2020-2030F”, Vietnam Automotive
Handbrake & Clutch Cable Market was valued at USD 28.1 Million in 2024 and
is expected to reach USD 35.3 Million by 2030 with a CAGR of 5.09% during the
forecast period. The Vietnam automotive handbrake and clutch cable market is
growing due to a surge in vehicle production and demand for advanced automotive
components. As more vehicles are manufactured in the country, the need for
safety features such as efficient handbrake and clutch cables rises. In
addition, the growing awareness of vehicle safety, alongside the introduction
of stringent regulatory requirements, is pushing the demand for high-quality
cables. The demand is also fueled by the automotive industry’s shift towards
electric vehicles (EVs), which require specialized components like cables for
improved performance and safety.
The market
is also influenced by the increasing use of high-performance materials in cable
manufacturing. Cables made from durable, lightweight, and corrosion-resistant
materials are gaining traction in both the OEM and replacement segments. This
shift is driven by manufacturers’ focus on producing more efficient,
long-lasting components that align with consumer preferences for safer, more
sustainable vehicles. The trend towards lightweight vehicles to improve fuel
efficiency is also contributing to the growth of the market, as the demand for
lighter and more efficient automotive parts increases. Challenges in the market
include the rising cost of raw materials and the pressures of intense
competition. Prices of key materials such as steel and rubber fluctuate, making
it difficult for manufacturers to maintain profitability. The influx of
low-cost imports adds to the competitive pressures, forcing local manufacturers
to innovate and improve product quality to stay relevant. However,
opportunities are emerging as the demand for electric vehicles increases, and
more manufacturers adapt to producing cables that cater to the evolving needs
of EVs.
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Vietnam Automotive Handbrake & Clutch Cable Market Is
Segmented By Vehicle Type, Product Type, Sales Channel and Region.
The market for automotive handbrake and clutch cables in
Vietnam is segmented into two primary sales channels: OEM (Original Equipment
Manufacturer) and replacement. The OEM segment involves the supply of cables
used in new vehicle production, where manufacturers source high-quality
components to meet safety standards and consumer preferences. As more vehicles
are produced in Vietnam, particularly in the growing automotive industry, OEMs
continue to drive demand for these essential components. The automotive
industry’s increasing production capacity ensures a steady supply of handbrake
and clutch cables that meet the required specifications for new vehicles. The
replacement segment includes the aftermarket demand for automotive cables,
which is equally significant. As the vehicle fleet in Vietnam continues to
grow, the need for replacements in older vehicles is also rising. Replacement
cables are often required due to wear and tear or to improve vehicle
performance. With the rising number of vehicles on the road and the growing
awareness of vehicle maintenance, the replacement segment continues to show
promising growth. As more vehicle owners and repair shops prioritize
high-quality parts, the demand for replacement cables is expected to remain
strong. Both the OEM and replacement segments are experiencing steady growth as
vehicle production increases, and the aftermarket services sector expands.
Southern Vietnam is the fastest-growing region in the
automotive handbrake and clutch cable market in 2024. This region, particularly
the area around Ho Chi Minh City, is the industrial hub of Vietnam, with a high
concentration of automotive manufacturing plants. Southern Vietnam's
infrastructure and logistics networks support a thriving automotive industry,
making it an essential area for the production and supply of automotive
components, including handbrake and clutch cables. The region’s manufacturing base
contributes significantly to the overall market, driving both the OEM and
replacement segments. The increasing demand for vehicles in Southern Vietnam is
fueled by its large population and expanding urbanization. With the growing
middle class and increasing disposable incomes, more consumers are purchasing
vehicles, further driving the demand for automotive cables. In addition, the
region’s proximity to key international trade routes enhances its role as a
central manufacturing and distribution point for automotive parts. As the
automotive sector in Southern Vietnam continues to thrive, the demand for
automotive components, particularly cables, is expected to grow in parallel.
This trend is likely to continue in the coming years as both domestic and international
vehicle manufacturers increase their production capacities in the region.
Major
Market Players Operating in Vietnam Automotive Handbrake & Clutch Cable
Market Are:
- Sumiden
Vietnam Automotive Wire Co., Ltd.
- Sai
Gon Mechanical Engineering Corporation (SAMCO)
- Vietnam
Electric Cable Corporation (CADIVI)
- DAPHACO
Electric Cable Corporation
- Tai
Truong Thanh Manufacturing – Trading Electric Wires and Cables Co., Ltd.
- Korea
Electrical Equipment Joint Stock Company (SUNWON)
- Tai
Sin Electric Cables (VN) Co., Ltd.
- Myungbo
Vina Co., Ltd.
- I
Sheng Electric Wire & Cable (Vietnam)
- Truong
Hai Group Corporation (THACO)
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The automotive handbrake and clutch cable market in Vietnam
is experiencing steady growth, driven by the increasing demand for efficient,
durable, and high-performance automotive components. Handbrake and clutch
cables are essential for vehicle safety and performance, providing reliable
operation for both passenger cars and commercial vehicles. As consumer
preferences shift toward enhanced vehicle safety, manufacturers are focusing on
the development of cables that offer improved durability, corrosion resistance,
and responsiveness. Technological innovations in materials and design are also
driving advancements in cable performance, ensuring they meet the increasing
standards for safety and efficiency. Moreover, the growing adoption of electric
vehicles (EVs) and the expansion of the automotive sector in Vietnam are
fueling demand for specialized cables designed to meet the unique requirements
of modern vehicles. These trends, alongside government regulations and the push
for safer and more efficient vehicles, are key factors contributing to the
market's growth", According to Mr. Karan Chechi, Research Director of TechSci
Research, an India-based research management consulting firm, these trends are
poised to drive significant market growth.
“Vietnam Automotive Handbrake & Clutch Cable Market By Vehicle Type (Two wheeler, Passenger Car, LCV, and M&HCV), By Product Type (Handbrake Cable & Clutch Cable), By Sales Channel (OEM & Replacement), By Region, Competition, Opportunities and Forecast, 2020-2030F”, assesses the
market's future growth potential and provides data on market size, trends, and
forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the Vietnam
Automotive Handbrake & Clutch Cable Market.
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