Press release
GCC Automotive Wiring Harness Market by 2030 Getting Ready For Future Growth | Aptiv PLC, THB Group, Federal mogul, Furukawa electric Co. Ltd., Lear corporation
• In 2018, by application, the chassis wiring harness type segment generated the highest revenue.
• In 2018, by vehicle type, the passenger car segment was the highest revenue contributor.
• In 2018, GCC region-wise, Saudi Arabia contributed the highest revenue, followed by Bahrain, UAE, Kuwait, Oman, and Qatar.
The Key players operating in the GCC automotive wiring harness market are Kromberg & Schubert Middle East FZE, Motherson Group, LEONI, Sumitomo Electric Industries, Ltd., and Abdulla Moh’d Ibrahim Trading Est. Also, various parts suppliers to the top manufacturers include Aptiv PLC, THB Group, Federal mogul, Furukawa electric Co. Ltd., Lear corporation, Schlemmer holdings GmbH, and Yazaki corporation.
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According to a recent report published by Allied Market Research, titled, "GCC Automotive Wiring Harness Market by Application, and Vehicle Type: Opportunity Analysis and Industry Forecast, 2019–2026." the GCC automotive wiring harness market was valued at $321.2 million in 2018, and is projected to reach $408.7 million by 2026, registering a CAGR of 2.9% from 2019 to 2026. By application, the chassis wiring harness segment was the highest revenue contributor in 2018, accounting for $116.3 million, and is estimated to reach $153.7 million by 2026, registering a CAGR of 3.4% during the forecast period.
Saudi Arabia is dominating the market in term of revenue, followed by the UAE, Kuwait, Oman, Qatar and Bahrain.
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Wire harness is a set of compactly bundled wires that are arranged inside a vehicle to transmit energy. The wiring harness is the smart communication network in every modern car. This network is connected to as many as a hundred Electronic Control Units (ECUs), also known as ‘nodes,’ that control the electronics in the vehicles. A modern car has numerous different electronic units equipped from the manufacturers, such as the engine management system, power steering, electric windows, air conditioning, lighting, and others. All these units are controlled by chips that use the wiring harness to communicate with each other.
The wiring harnesses in vehicles are designed to use less space inside the car, to provide additional protection to the wire, and to provide secure attachment points, to meet the challenges of vibration, friction, and other hazards. Cars, two wheelers, and trucks have separate harnesses for many on-board systems, including battery and power supply, ignition sets, steering column, cruise control, anti-lock braking, indicator (dashboard) cluster, interior lighting, interior safety and security, front-end lights, rear lights, doors (locks and window controls), trailer-hitch wiring, and more recently, rear-camera systems, mobile and Bluetooth connections, and GPS or satellite navigation systems.
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In addition, as per the industry expert, a passenger car generally has 2 km of wire in it and the average number of harnesses per vehicle lies between 20 and 25 as per the number of features included in the vehicle. The GCC automotive wiring harness market is analyzed based on its prospect and future growth rate in different countries of GCC. The report highlights numerous factors that influence the growth of the GCC automotive wiring harness market, which include market forecast, drivers, restraints, opportunities, and role of different key players operating in the market. Furthermore, the GCC automotive wiring harness market is segmented based on vehicle type and application. Based on application, the GCC automotive wiring harness market is segmented into body wiring harness, chassis wiring harness, engine wiring harness, HVAC wiring harness, and sensor wiring harness. Based on vehicle type, the market is divided into passenger cars, commercial vehicles, and two wheelers. The market is studied across Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain, and Oman.
Furthermore, rise in vehicle sales across all the GCC countries and ongoing local manufacturing wiring projects for infrastructure development are the key factors expected to significantly fuel the growth for the GCC automotive wiring harness market. Also, the key players operating in this business are adopting acquisition and expansion strategies to increase their presence in GCC. For instance, Motherson Sumi Systems Ltd. (MSSL), is establishing a wiring harness unit in UAE, which will be helpful for the company to produce a broad portfolio of wiring harness products.
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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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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