Press release
Global Automotive wiring harness market Top Key Players Furukawa Electric Co. Ltd, Delphi Automotive LLP, Lear Corporation, Sumitomo Electric Industries, Ltd.,
The automotive wiring harness is an electrical assembly of several components in a vehicle that transmits information and power to a single system. It plays an important role in transmitting information about the operation of the vehicle, sending and receiving sensor signals, and power supply. Assembled components include speed sensors, heating, ventilation and air conditioning (HVAC) systems, electrical appliances and other electronic components. In the automotive wire harness industry, cables are first cut to the desired length, usually using a special wire cutter.
The cables can also be printed by a special machine during the cutting process or in a separate machine. After that, the ends of the cables are removed to expose the metal installed in the required terminals or junction boxes. The cables are assembled and secured together on a workbench or pin board (mounting plate), in accordance with the design specifications, to form the wire harness. After placing the necessary protective sleeves, ducts or extruded nets, the harness can be placed directly on the vehicle or sent to the vehicle.
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Global Automotive wiring harness Market Drivers and Restraints:
The automotive wire harness market is driven by the rapid growth of the automotive industry owing to several technologically advanced features implemented in the vehicles. Car manufacturers are fiercely competing to design automobiles with various safety features and electronic devices. Unlike conventional wiring methods, the automotive wiring harness provides safe and reliable connections between these devices. In addition, the deployment of such electrical harness systems improves the fuel efficiency of the vehicle and complies with government regulations regarding the use of fuel and emissions. These advantages of the automotive wiring harness in turn lead to market growth. However, overheating or short-circuiting of the cable harness in areas subject to extreme weather conditions, such as rain and snow, results in a high replacement cost of the assembly, which limits the growth of the market. The increased use of safety sensors, such as blind spot detection and automated control systems, offers exciting opportunities for expansion of the market.
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Geographic Segmentation:
On the basis of geography, Global Automotive wiring harness Market is segmented into regions such as North America, Latin America, Europe, Middle East and Africa and Asia Pacific. The Asia-Pacific region accounted for more than 40% of the total market in 2017. This can be attributed to the increase in road infrastructure activities, along with the growth in automotive manufacturing, particularly in developing economies such as China and India. In addition, the growing demand for improved safety and comfort features in mid-range vehicles and low labour costs is driving the increase in sales. The European market is expected to have a CAGR of over 6.0% during the forecast period. Increasing car production, innovation in transmission technologies and the growing adoption of electric vehicles are expected to boost demand in Europe. The expansion of manufacturing plants in the Middle East and Africa due to cheap labour is a determining factor in the regional market.
Key Players in Global Automotive wiring harness market:
Major players actively contributing to the Global Automotive wiring harness market include Furukawa Electric Co. Ltd, Delphi Automotive LLP, Lear Corporation, Sumitomo Electric Industries, Ltd., SPARK MINDA, THB Group, Nexans Autoelectric, Samvardhana Motherson Group, Yura Corporation and Yazaki Corporation among many others.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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