Press release
Automotive Secondary Wiring Harness Market 2018 Industry Trends, Leading Players - Furukawa Electric, Nexans, Samvardhana Motherson Group, Leoni, THB, and Spark Minda, Ashok Minda Group
Automotive Secondary Wiring Harness Market
Automotive Secondary Wiring Harness Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Secondary Wiring Harness Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
Global Automotive Secondary Wiring Harness Market Report Information by Application (Cabin, Door Harness, Engine, Electronic Parking Brakes, Airbag Harness, and Electronic Gear Shift System), by Vehicle Type (ICE and EV), by Region- Forecast till 2023
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Market Scenario:
A wiring harness is a structured set of wires, terminals and connectors, which run throughout the vehicle and relay information and electric power. Technologies such as advanced infotainment system and safety and security system have augmented the instances of assembling secondary wiring harnesses in a vehicle.
Several factors aid the growth of the global automotive secondary wiring harness market, the primary being an increase in electric vehicle production to trigger the demand. In recent years, the sales of electric vehicle sales in North America have increased significantly. Thus, with many of these vehicles being assembled in U.S., federal and state incentives also play a major role in boosting EV sales, making EVs more affordable. For instance, in May 2017, the U.S. Department of Energy estimated that refueling the average EV cost the equivalent of gasoline priced at only USD 1.17 per gallon, roughly half the price of gasoline. According to IEA, China was by far the largest electric car market, accounting for more than 40% of global sales of electric cars and more than double the amount sold in U.S in 2016.
Of late, the demand for electric vehicle products is rising rapidly. These products have a wide voltage range (from low voltage to high voltage) and require a special set of wires for operation. Across the globe, the manufacturers of wiring harness systems are focusing on the development of secondary wiring harness systems to support high technology systems such as infotainment systems, lighting systems, electronic brakes, and connectivity technology. Secondly, growing complexities of on-board electronics is also expected to foster the growth of the market. With increased emphasis on safety of passengers, comfort, and the rising incidences of vehicle customization there is a rising need for automotive wiring harness. However, the high cost of wiring harness is hindering the growth of the global automotive wiring harness market. Despite the increase in the price of wires and cables, manufacturers need to upgrade their wiring systems due to the increased competition. Automotive wiring harness for electric and hybrid vehicles has a higher cost as these vehicles require comparatively high voltage wiring harness assembly. The global automotive secondary wiring harness market is expected to expand with a CAGR of approx. 11% (2018 to 2023).
The Key Players in Automotive Secondary Wiring Harness Market Are:
Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Aptiv PLC (UK), Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan), Nexans (France), Samvardhana Motherson Group. (India), Leoni AG (Germany), THB Group. (China) and Spark Minda, Ashok Minda Group (India) are amongst the other important players in this market.
Automotive Secondary Wiring Harness Market by Segmentation:
On the basis of application, the market is segmented as cabin, door harness, engine, electronic parking brakes, airbag harness, and electronic gear shift system. In 2016, the cabin harness segment has accounted for the highest share by application type in the global automotive secondary wiring harness market.
Based on regions, the automotive secondary wiring harness market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to lead the market demand in the automotive secondary wiring harness. The large population in this region coupled with a rising middle class causes the automotive sales in this region to rise continuously. As a result, boosting the demand for automotive secondary wiring harness market.
In Europe, Germany is estimated to dominate the market during the forecast period. The country is considered one of the technology hubs of automotive industry, globally, coupled with presence of established players in the region.
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Table of Content
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
4 Market Dynamics
5 Global Automotive Secondary Wiring Harness Market, By Application
6 Global Automotive Secondary Wiring Harness Market, By Vehicle Type
7 Global Automotive Secondary Wiring Harness Market, By Region
8 Competitive Landscape
9 Company Profile
List Of Tables
Table 1 Global Automotive Secondary Wiring Harness Market: By Region, 2017-2023
Table 2 North America Automotive Secondary Wiring Harness Market: By Country, 2017-2023
Table 3 Europe Automotive Secondary Wiring Harness Market: By Country, 2017-2023
Table 4 Asia-Pacific Automotive Secondary Wiring Harness Market: By Country, 2017-2023
Table 5 RoW Automotive Secondary Wiring Harness Market: By Country, 2017-2023
…
List Of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
Continued…….
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Automotive Secondary Wiring Harness Market Report 2017
Automotive Secondary Wiring Harness
Automotive Secondary Wiring Harness market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
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