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 – Industry Size, Share, Trends, Opportunity,
and Forecast, 2020-2030F”, The 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 at TechSci Research, an India-based
research management consulting firm, these trends are poised to drive
significant market growth.
The report titled “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, By
Competition, 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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