Press release
Commercial Vehicle Wiring Harness Market Growth Study at 3.9% of CAGR by 2027
The Insight Partners
According to The Insight Partners' research, the global commercial vehicle wiring harness market was valued at US$ 11,495.3 million in 2018 and is likely to reach US$ 16,001.1 million by 2027 to rise at a CAGR of 3.9% from 2019 to 2027. The rising demand for electric vehicles is the potential factor attributed to the market expansion.
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://www.theinsightpartners.com/sample/TIPRE00003274?utm_source=OpenPR&utm_medium=10051
Despite the driving parameter, the high upfront cost of vehicles due to integration of wiring harness impedes the growth of global commercial vehicle wiring harness market.
As per vehicle type, the market is subsegmented into light commercial vehicle and medium & heavy commercial vehicle. The light commercial vehicle (LCV) segment held 79.2% market share in 2018, with a revenue total of US$ 9,109.4 million. It is estimated to generate US$ 12,487.9 million by 2027 to grow at 3.7% CAGR during 2019-2027.
Based on light commercial vehicle, the commercial vehicle wiring harness market sphere is categorized into sports utility vehicle (SUV), pickup, minitruck, and minivan. The SUV segment led the domain in 2018 with 39.0% market share. It garnered the sum of US$ 3,551.2 million in 2018 and is projected to accrue US$ 4,815.9 million by 2027 to expand at a CAGR of 3.6% over the forecast period.
According to medium & heavy commercial vehicle, the global commercial vehicle wiring harness market is split into medium & heavy trucks, heavy mining vehicle, heavy construction vehicle, heavy agriculture vehicle, and medium agriculture vehicle/tractor. With 82.0% share of the industry, the medium & heavy trucks segment dominated the market in 2018. It was assessed at US$ 1,955.9 million in 2018 and is slated to amass US$ 2,866.3 million by 2027 to register a CAGR of 4.5% throughout the forecast period.
Our regional analysis states that North America occupied 45.6% market share, the largest in 2018. It accounted for US$ 5,244.2 million in 2018 and is supposed to hit US$ 7,177.8 million by 2027 to mark a CAGR of 3.6% along the forecast period. The Asia Pacific market was evaluated at US$ 4,363.1 million in 2018 and is predicted to be worth US$ 6,336.3 million by 2027.
Schedule a pre-sale discussion with the author team in a slot that you prefer to address queries on scope of the report, customization, introduction to methodology, assistance on technologies, and market definitions - https://www.theinsightpartners.com/inquiry/TIPRE00003274?utm_source=OpenPR&utm_medium=10051
The automotive industry is constantly witnessing the emergence of new manufacturers expanding the vehicle market. Though the conventional fuel-based auto models are the prime products, the market giants are continuously eyeballing on the development of electric vehicle segment to lure the customers globally. Some of these ruling players are Tesla, Ford, Nissan, BMW, and Volkswagen. Electric vehicles consist of various types of wiring harnesses and semiconductors to enhance the safety, reliability, and performance of the vehicles.
Strategic insights:
Key players dominating the global commercial vehicle wiring harness market are AME Systems (VIC) Pty Ltd.; DRÄXLMAIER Group; Furukawa Electric Co. Ltd; Lear Corporation; Motherson Sumi Systems Ltd; Nexans; Spark Minda; Sumitomo Electric Industries, Ltd; THB Group; and Yazaki Corporation, among others.
• In May 2016, AME Systems set up a new facility at Bayswater, London. It has got additional space and efficient layout to enhance the production processes to be carried out on site. In November 2017, the company signed a contract with BAE Systems Australia to manufacture electrical wiring harnesses for the AMV35 Combat Reconnaissance vehicle.
• In September 2019, Motherson Sumi set up a new wiring harness unit in UAE. This unit will enable a wider portfolio of products, including wiring harnesses, injection-molded parts, rearview mirrors for passenger cars, and much more.
• In April 2016, Spark Minda acquired Panalfa Autoelektrik Limited to strengthen its product portfolio and expand the business to agriculture machinery, construction equipment, stationary engine, and automotive market.
Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods - https://www.theinsightpartners.com/sample/TIPRE00003274?utm_source=OpenPR&utm_medium=10051
Email: sales@theinsightpartners.com
Phone : +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Commercial Vehicle Wiring Harness Market Growth Study at 3.9% of CAGR by 2027 here
News-ID: 2742247 • Views: …
More Releases from The Insight Partners
Laparoscopic Surgical Scissors Market Analysis Reveals Sustained Growth Through …
The Laparoscopic Surgical Scissors Market is expected to witness consistent growth from 2026 to 2034, expanding steadily from its 2025 valuation. This sustained growth reflects a positive market outlook, supported by rising adoption of minimally invasive surgical procedures, technological advancements in surgical instrumentation, and increasing demand for precision-driven tools across healthcare settings.
Download PDF Sample : https://www.theinsightpartners.com/sample/TIPRE00013726/?utm_source=OpenPR&utm_medium=10914
Market Overview
Laparoscopic surgical scissors are essential instruments used in minimally invasive procedures to enable…
Tissue Preparation Systems Market Forecast to 2034: Growth Drivers, Trends, and …
The Tissue Preparation Systems Market continues to evolve steadily, supported by technological innovation, rising demand for precision diagnostics, and increasing automation across research and clinical laboratories. The market landscape reflects strong long-term growth potential as laboratories seek higher efficiency, accuracy, and reproducibility in tissue processing workflows.
Download PDF Sample : https://www.theinsightpartners.com/sample/TIPRE00016825/?utm_source=OpenPR&utm_medium=10914
Market Overview
Tissue preparation systems are essential laboratory tools used in histology and pathology to process biological tissue samples for microscopic…
Metal Packaging Coatings Market Global Business Analysis
The metal packaging coatings market is positioned as a vital component of modern packaging solutions as manufacturers seek enhanced protection and compliance across applications. Coatings play an essential role in safeguarding metal containers against corrosion and chemical interaction while preserving product quality throughout storage and transportation. Rising reliance on packaged goods has reinforced the importance of advanced coating technologies.
Market growth is being influenced by changing regulatory frameworks and heightened consumer…
Global Manhole Covers Market Continues Strong Growth, Driven by Urban Infrastruc …
The global manhole covers market is gaining notable momentum as cities and municipalities across the world prioritize safer, more efficient access to underground utilities. With rising urbanization, increasing infrastructure investments, and expanding smart city initiatives, the demand for advanced manhole covers is accelerating through 2028, reshaping industry dynamics and fostering new opportunities for manufacturers, planners, and local governments.
Download Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00022649/?utm_source=OpenPR&utm_medium=10759
Manhole covers are essential for ensuring secure access to…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Waterproofing Membranes Market is Projected Grow at CAGR of 8% CAGR by 2033
The waterproofing membranes market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period. By 2023, the estimated market value for waterproofing membranes is substantial, reaching US$ 31.5 billion.
These waterproofing materials comprise thin, impermeable membranes designed to collaborate with asphalt, providing a protective shield for the structural integrity of buildings. The asphalt component in these membranes acts as a safeguard, preserving the underlying membrane…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Pediatric Radiology Market Size will Grow at CAGR 7.7% CAGR during 2017-2026
Pediatric Radiology Market:Overview
The pediatric radiology market is likely to register robust growth in the near future. Chronic illnesses among children including neurological disorders such as ADHD are on the rise. According to the US labor bureau, the demand for pediatrician is expected to grow by 24% on average by 2020. This is the highest average growth among all professionals in the United States.
Despite challenges such as training for new…
