Press release
Automotive Wiring Harness Market 2030 Analysis by Top Companies: Delphi Automotive, Furukawa Electric, Lear Corporation, THB Group, SPARK MINDA, Samvardhana Motherson, Nexans Autoelectric, Yazaki Corp, Yura Corp
o The study provides an in-depth analysis of the global automotive wiring harness market, with current trends and future estimations to elucidate the imminent investment pockets.
o It offers a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
o It also provides historical figures for 2014 and 2015 and Y-o-Y forecasts from 2016 to 2022, considering 2015 as a base.
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Automotive wiring harness is an assembly of cables or wires that transmit signals or electrical power. They are bound together by straps, cable ties, sleeves, cable lacing, electrical tape, or a combination of these systems. Wiring harnesses are usually designed according to geometric and electrical requirements. Automotive wiring harness is better safeguarded against the impact of vehicular vibrations as compared to the individual electric wires in an automobile. Moreover, this harness is more secure from abrasions and moisture. The automotive wiring harness industry is witnessing technological advancements to increase the efficiency of the harness. The price of automotive wiring harness has declined in recent times due to falling copper prices (one of the raw materials) and several lawsuits against the price control practice by the key manufacturers. This reduction in price has further increased the demand for automotive wiring harness globally.
The key players profiled in the automotive wiring harness market include Delphi Automotive LLP, Furukawa Electric Co. Ltd., Sumitomo Electric Industries, Ltd., Lear Corporation, THB Group, SPARK MINDA, Samvardhana Motherson Group, Nexans Autoelectric, Yazaki Corporation, and Yura Corporation.
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Asia-Pacific and Europe are the potential markets for the growth of automotive wiring harness. Moreover, rise in use of aluminum to manufacture wiring harness further supplements the market growth. In addition, rise in demand for electric vehicles and proactive government initiatives are anticipated to provide various opportunities for growth. Incorporation of these systems in passenger cars and two wheelers is expected to increase rapidly in the coming years.
By application type, the automotive wiring harness market is divided into the body wiring harness, engine wiring harness, chassis wiring harness, HVAC wiring harness, and sensors wiring harness. Chassis wiring harness accounted for the highest revenue in 2015, owing to its high adoption rate and large number of global manufacturers. Moreover, HVAC wiring harness segment is anticipated to witness the highest CAGR of 6.2%.
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By vehicle type, the automotive wiring harness market is divided into two wheelers, passenger cars, and commercial vehicles.
Asia-Pacific accounted for the highest revenue in 2015, and is anticipated to grow at a CAGR of 5.3%, owing to the increase in use of speed sensors wiring harness and HVAC wiring harness due to high demands for premium vehicles and rise of upper middle class in Asia-Pacific. Europe is projected to grow at the highest CAGR of 5.5% owing to stringent regulations enforced by government about vehicular emission control.
The passenger cars segment accounted for about 52% market share in 2015, and is anticipated to register a CAGR of 4.9%, owing to their rise in sales globally and high adoption rate of advanced & lightweight wiring harness by automobile manufacturers. Two wheelers are anticipated to witness a high growth rate of 7.2% during the forecast period, due to their high electrification.
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Major Market Drivers Such as -
1. Asia-Pacific Hub of Leading Manufacturers
2. Increase in number of Government Regulations towards Fuel Usage and Emissions
3. Development of Aluminum Wiring Harness
Questions answered in the Automotive Wiring Harness Market research report:
o What are the driving factors and opportunities in the Automotive Wiring Harness Market?
o Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
o Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?
o What are the conclusions of the Automotive Wiring Harness Market report?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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