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Explore Global Automotive Wiring Harness Market Size, Share, Development, Growth and Demand Forecast to 2023
Automotive Wiring Harness Market
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Wiring harness for alternate energy vehicles and growing automotive safety norms in developing countries are some of the factors providing ample growth opportunities for the global automotive wiring harness market. Some of the factors restraining the growth of the market are maintenance issues related with automotive wiring harness, and their high cost. The automobile sector is growing, especially in Middle East & Africa, due to increasing government support in form of tax exemptions and fiscal incentives in free zones of the region. In Japan, the small car segment of the automotive industry is growing, which is supporting the growth of the automotive wiring harness market.
The Asia-Pacific market is growing with the highest rate, due to the growing consumer preference for safety features and high-end electronics in the heavy and light vehicles in the countries, such as India and China. The automotive wiring harness market in some countries of North America and Europe is saturated, as safety equipment and high-end electronics are already installed in most of the vehicles in these regions. Whereas, Canada and Mexico are still untapped markets, due to the commissioning of new vehicle assembly plants and increasing vehicle production capacity in the countries.
Among all the vehicle types, the commercial vehicle and passenger vehicle holds more than three-fourth share of the global market.
Explore Research Report At: https://www.psmarketresearch.com/market-analysis/automotive-wiring-harness-market
Some of the competitors in the market are Lear Corporation, Furukawa Electric Co. Ltd., Samvardhana Motherson Group, Nexans Autoelectric GmbH, Sumitomo Electric Industries Ltd., YAZAKI Corporation, THB Group Ltd., and Delphi Automotive LLP.
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