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<strong>Au<strong>to</strong>motive</strong> <strong>Wiring</strong> <strong>Harness</strong> <strong>Market</strong><br />
<strong>Projected</strong> <strong>to</strong> <strong>register</strong> <strong>CAGR</strong> <strong>6.5%</strong> <strong>during</strong> <strong>the</strong><br />
<strong>forecast</strong> <strong>period</strong> <strong>2016</strong> <strong>–</strong> <strong>2024</strong><br />
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<strong>Au<strong>to</strong>motive</strong> <strong>Wiring</strong> <strong>Harness</strong> <strong>Market</strong> By Application (Body wiring<br />
harness, Engine wiring harness, Chassis wiring harness, HVAC<br />
wiring harness, Sensors wiring harness) By Vehicle Type (Heavy<br />
Vehicle, Light Vehicle) By Material (Copper, Aluminum, O<strong>the</strong>rs)<br />
and Region - Global Forecast <strong>to</strong> <strong>2024</strong><br />
<strong>Au<strong>to</strong>motive</strong> wiring harness is an electrical assembly of various<br />
components in a vehicle that transmit power and information<br />
<strong>to</strong> <strong>the</strong> system. It has evolved from <strong>the</strong> need of compact wiring,<br />
ease of operation in handling different electronics devices and<br />
protection against vibration and abrasion. It plays an important<br />
role in transmitting information about <strong>the</strong> operation of <strong>the</strong><br />
vehicle, sending and receiving sensor signal and supplying<br />
power.<br />
<strong>Market</strong> Size and Forecast<br />
The au<strong>to</strong>motive wiring harness market is expected <strong>to</strong> grow at a<br />
<strong>CAGR</strong> of <strong>6.5%</strong> over <strong>the</strong> <strong>forecast</strong> <strong>period</strong> i.e. 2017-<strong>2024</strong>. This<br />
market is driven by <strong>the</strong> rapid growth of au<strong>to</strong>mobile industry<br />
owing <strong>to</strong> various technologically innovative features<br />
implemented in vehicles. Light vehicle segment is anticipated<br />
<strong>to</strong> acquire largest market share with <strong>the</strong> highest <strong>CAGR</strong>, <strong>during</strong><br />
<strong>the</strong> <strong>forecast</strong> <strong>period</strong>, due <strong>to</strong> high production value.<br />
The most prominent regional markets include North America<br />
and Asia-Pacific, which <strong>to</strong>ge<strong>the</strong>r constituted around 60.4%<br />
share in <strong>the</strong> <strong>to</strong>tal revenue of au<strong>to</strong>motive wiring harness<br />
market.<br />
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Asia<strong>–</strong>Pacific region is expected <strong>to</strong> dominate <strong>the</strong><br />
market <strong>during</strong> <strong>the</strong> <strong>forecast</strong> <strong>period</strong> aided by China<br />
and India <strong>the</strong> fastest developing countries.<br />
Increase in use of speed sensors wiring harness<br />
and HVAC wiring harness owing <strong>to</strong> high demand<br />
for premium vehicles is heightening <strong>the</strong> demand<br />
for <strong>the</strong> au<strong>to</strong>motive wiring harness. Infrastructural<br />
development in this region are also anticipating<br />
<strong>the</strong> market growth, as it has fostered <strong>the</strong> demand<br />
for heavy vehicles that require technology<br />
elevated au<strong>to</strong>mobile wiring for heat insulation.<br />
In Europe, <strong>the</strong> market is projected <strong>to</strong> attain<br />
maturity as most of <strong>the</strong> vehicles are with high<br />
end electronics and safety features. In Western<br />
Europe, Germany is estimated <strong>to</strong> dominate <strong>the</strong><br />
Western Europe au<strong>to</strong>motive wiring harness<br />
market. However, Eastern Europe and North<br />
American countries such as Mexico and Canada<br />
still have <strong>the</strong> potential market due <strong>to</strong> increasing<br />
vehicle production capacity and commissioning of<br />
new vehicle assembly plants.<br />
<strong>Market</strong> Segmentation<br />
Our in-depth analysis segmented <strong>the</strong> au<strong>to</strong>motive<br />
wiring harness market in <strong>the</strong> following segments:<br />
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By Region<br />
Global au<strong>to</strong>motive wiring harness<br />
<strong>Market</strong> is fur<strong>the</strong>r classified on <strong>the</strong><br />
basis of region as follows: North<br />
America (U.S. & Canada) <strong>Market</strong> size,<br />
Y-O-Y growth & Opportunity Analysis.<br />
Latin America (Brazil, Mexico, Rest of<br />
Latin America) <strong>Market</strong> size, Y-O-Y<br />
growth & Opportunity Analysis.<br />
Western and Eastern Europe (U.K.,<br />
Germany, France, Italy, Spain, Hungary,<br />
Belgium, Ne<strong>the</strong>rlands & Luxembourg,<br />
Rest of Western Europe) <strong>Market</strong> size,<br />
Y-O-Y growth & Opportunity Analysis.<br />
Asia-Pacific (China, India, Japan,<br />
Singapore, Australia, New Zealand,<br />
Rest of Asia) <strong>Market</strong> size, Y-O-Y growth<br />
& Opportunity Analysis. Middle East<br />
and North Africa (MENA) <strong>Market</strong> Size<br />
and Y-O-Y Growth Analysis<br />
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Growth Drivers and Challenges<br />
Increasing installation of <strong>the</strong> advanced driver assistance system<br />
and stringent au<strong>to</strong>motive norms taken by <strong>the</strong> government of<br />
various countries is anticipated <strong>to</strong> foster <strong>the</strong> growth of<br />
au<strong>to</strong>motive wiring harness market. Fur<strong>the</strong>r, mounting fuel costs<br />
and strict government regulations regarding CO2 emissions are<br />
boosting demand for electric vehicles in North America, Western<br />
Europe, Eastern Europe and Asia Pacific. Government across<br />
various geographies have mandated use of certain electronic<br />
safety features, such as Anti-Lock Braking System (ABS),<br />
Electronic Stability Program (ESP) and o<strong>the</strong>r features, in<br />
au<strong>to</strong>motive. Fur<strong>the</strong>rmore, increase in demand for high-end<br />
electronic and safety features in vehicles, mainly passenger cars,<br />
along with cost reduction and enhanced reliability, is likely <strong>to</strong><br />
impel <strong>the</strong> demand for au<strong>to</strong>motive wiring harnesses globally.<br />
Use of au<strong>to</strong>motive e<strong>the</strong>rnet by au<strong>to</strong>motive OEMs represents a<br />
new trend in <strong>the</strong> external as well as internal electronic devices<br />
connectivity in an au<strong>to</strong>mobile. Therefore, <strong>the</strong>se au<strong>to</strong>motive<br />
e<strong>the</strong>rnet diminishes <strong>the</strong> use of complex wiring harness<br />
structures <strong>to</strong> a great extent and, <strong>the</strong>reby, may act as a restraint<br />
for growth of <strong>the</strong> global au<strong>to</strong>motive wiring harness market in<br />
<strong>the</strong> coming years.<br />
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Key players<br />
The major key players for au<strong>to</strong>motive<br />
wiring harness are as follows:<br />
Sumi<strong>to</strong>mo electric industries<br />
Lear corporation<br />
Delphi <strong>Au<strong>to</strong>motive</strong> PLC<br />
Yazaki corporation<br />
Furukawa electric company<br />
Leoni AG<br />
Samvardhana mo<strong>the</strong>rson group<br />
PKC group<br />
THB group<br />
Minda <strong>Au<strong>to</strong>motive</strong><br />
Yura Corporation<br />
Kromberg & Schubert<br />
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To know more About This Research please visit:<br />
https://www.researchnester.com/reports/au<strong>to</strong>motive-wiring-<br />
harness-market-global-demand-analysis-opportunity-outlook-<br />
<strong>2024</strong>/303<br />
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