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Automotive Wiring Harness Market share research by applications and regions for 2016-2024: Global Market Insights Inc.
Complex wiring integration, raw material prices and lack of automation in wiring harness manufacturing process are restraining the industry growth. The failure of the system in terms of overheating or short circuit in extreme weather conditions such as snow & rain acts as a technical challenge for the manufacturers. System failure needs replacement of entire system which is the high cost affair thus restricting the adoption of automotive wiring harness.
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The limited availability of copper creates need for recycling process for copper wires used in automotive connectivity systems. A luxury car contains approximately 1500 copper wires, which is about 1 mile in length. But recycling of wire is a complex process as it contains other materials such as insulation material, terminals, connectors, relays and other materials.
Based on the application of the product, the industry is classified as body, chassis, engine, HVAC and speed sensor harness. The chassis segment dominated the overall industry followed by body equipment segment. Speed sensor wiring harness is expected to have highest CAGR during the forecast period owing to rapid adoption of advanced driver assistance systems in the automobiles.
On the basis of vehicle type, the automotive wiring harness market is divided in to light weight vehicles and heavy vehicles. The high volume of production in light weight vehicles will support the adoption of wiring harness equipment in the light vehicles.
North America and Europe will acquire considerable market share during the forecast period owing to high adoption of safety technologies in automobiles. However, these markets will come to maturity in terms of demand for the product as majority of the vehicles currently installed with technologically superior electronic and safety systems. Countries such as Canada and Mexico are experiencing economic stability owing to establishment of new vehicle assembly plants and expanding vehicle production capacity which will provide demand for the automotive wiring harness market.
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Compliance with these standards is aimed to provide harmonized standard solutions for automotive electronics industry to offer the products globally. The manufacturers are focusing on developing high quality systems to reduce system failures.
The major companies in the automotive wiring harness market are Delphi Automotive, Leoni AG, Sumitomo Electric Industries, Yazaki Corporation, Lear Corporation, Furukawa Electric Company Ltd., THB Group, Samvardhana Motherson Group, Spark Minda, Nexans Autoelectric, Yura Corporation, Fujikura Ltd., PKC Group, Quingdao Sanyuan Group, Kyungship Corporation, and Kromberg & Schubert.
Browse Related Reports:
Automotive Electronics Market Size By Application (ADAS, Infotainment, Powertrain, Body Electronics, Safety Systems), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 – 2023
https://www.gminsights.com/industry-analysis/automotive-electronics-market
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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