Increasing Adoption of High-Temperature FFCs in Space Industry to Provide Opportunities for Europe and Asia Pacific High-Temperature Flexible Flat Cable Market During 2022–2030
According to our latest market study on Europe and Asia Pacific High-Temperature Flexible Flat Cable Market Size and Forecast (2020–2030), Regional Share, Trends, and Growth Opportunity Analysis — by Type, Temperature Range, Application, and End User," the market was valued at US$ 22.97 million in 2022 and is expected to reach US$ 32.93 million by 2030; it is estimated to record a CAGR of 4.6 % from 2022 to 2030.
High-temperature FFCs provide flexibility in routing and connecting various components within the limited space available in a spacecraft. This flexibility aids in the design and integration of intricate electronic systems. High-temperature FFCs contribute to the longevity of space missions by maintaining their performance characteristics over time, reducing the risk of failures in orbit. High-temperature FFCs are designed to withstand extensive exposure to UV light and high levels of radiation and temperature of space (i.e., ranging between 125°C and more than 150°C) with no adverse effects. These cables offer uninterrupted performance, flexibility, and mechanical and electrical reliability in space. Several companies offer high-temperature FFCs for the space industry. For instance, in September 2022, Nicomatic launched space-dense, lightweight, flexible cables that ensure signal and power connection in all types of space applications. Similarly, Cicoil offers custom FFC assemblies operating in the most sophisticated space applications. Cicoil flat cables exceed outgassing specifications for vacuum and space use, which NASA approves for space flight. Thus, the increasing adoption of high-temperature FFCs in the space industry as it help to address the specific needs of space missions, including reliability in extreme conditions, flexibility in design, and support for advanced space technologies. Thus, all the above factors are likely to have a significant impact on the high-temperature flexible flat cable market forecast in the next few years.
Europe and Asia Pacific High-Temperature Flexible Flat Cable Market Analysis — by Geography, 2022
Europe and Asia Pacific High-Temperature Flexible Flat Cable Market Size and Forecast (2020 - 2030), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (0.500 mm Pitches, 1.00 mm Pitches, and 1.250 mm Pitches), Temperature Range (125–149°C and 150°C and Above), Application (In-Vehicle Infotainment System, In-Vehicle Cameras, Radar, Satellite, and Others), and Geography
Europe and Asia Pacific High-Temperature Flexible Flat Cable Market Growth 2030
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Source: The Insight Partners Analysis
The market in APAC is segmented into Japan and South Korea. In terms of revenue, Japan dominated the APAC high-temperature flexible flat cable market share which will lead to the surge in the market size.
The automotive industry across APAC has been experiencing significant growth over the years. According to the International Organization of Motor Vehicle Manufacturers, countries such as South Korea and Japan observed a significant rise in vehicle production volume in 2022. Additionally, regional and global automotive manufacturers are taking initiatives to establish new vehicle production across the region. For instance, in November 2023, Toyota Motor Corporation unveiled its all-new Crown Sedan model in Japan. The governments of the above countries are taking various initiatives to increase the adoption of electric vehicles.
According to an article published on the electrive.com website, the Seoul city government announced that it provided incentives to buyers of around 14,200 electric vehicles during the first half of 2022 as part of its effort to encourage the sales of 27,000 electric vehicles for the entire year. According to the Ministry of Environment and Industry statistics in January 2022, only electric vehicle models costing US$ 46,000 (WON 55 million) or less will be eligible for 100% of the central government subsidy. Carmakers have set the price for a few models at just below US$ 51,000 (WON 60 million) to ensure that they receive 100% of the state subsidy. The subsidy has a decisive influence on electric vehicle sales. Under the funding scheme, a maximum subsidy of approximately US$ 7,520 will be paid for electric passenger cars. Thus, the rising market for electric vehicles and initiatives by the manufacturers and the governments are expected to increase the demand for high-temperature FFCs, thereby fueling the high-temperature flexible flat cable market growth in South Korea.
Furthermore, the region is witnessing an increase in its military spending. In December 2023, South Korea planned to spend 346.7 trillion Korean won (US$ 262.8 billion) in the next five years to bolster its defense capabilities. This effort involves growing a preemptive strike capability, deterrence measures, and countering North Korean missiles and drones. Thus, the growing military spending can raise the demand for high-temperature FFCs, as they are widely used in missiles and other military applications. Therefore, the growing demand for these cables in automotive and military applications is driving the growth of the high-temperature flexible flat cable market share in APAC.
Japan is a leader in automation and robotics with growing industrial automation. According to EISANZAI Japan, the nation boasts the highest robot density per manufacturing employee in the world with more than 300,000 industrial robots in use. Numerous industries, including the automotive, electronics, and healthcare sectors, use these robots. Also, Japan's manufacturing sector has effectively integrated automation to deliver high-quality products and maintain its competitive edge in the global market. Thus, the growing industrial automation and robotics in the country are expected to boost the high-temperature flexible flat cable market growth during the forecast period.
Moreover, Japan is among the leaders in the global automotive industry. Automotive manufacturing accounts for 89% of the country's largest manufacturing sector. Several companies in Japan are launching new electric vehicles. In May 2022, Toyota Motor Corp launched its first mass-produced battery-electric car in Japan. Also, in May 2023, Japanese automaker Honda announced its plans to launch a new fuel cell electric vehicle (FCEV) in Japan, which will be starting in 2024. Thus, all the above factors boost the demand for high-temperature flexible flat cables and eventually the market growth in Japan.
Sumitomo Electric Industries Ltd, Axon Cable SAS, Molex LLC, SUMIDA Flexible Connections GmbH, and W L Gore and Associates Inc are among the key players profiled in the high-temperature flexible flat cable market report. Several other major players were studied and analyzed during the market study to get a holistic view of the market and its ecosystem.
The high-temperature flexible flat cable market report also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current high-temperature flexible flat cable market trends and their foreseeable impact during the forecast period.
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