Press release
Wire Harness Market to Expand with Significant CAGR during 2030
Wire Harness Market
The global wire harness market is broadly affected by several factors, including rising demand for wire harnesses aligned with the growing demand for electric vehicles. Thus, expanding usage of wire harnesses in different segments is propelling the global wire harness market.
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๐๐ข๐ซ๐ ๐๐๐ซ๐ง๐๐ฌ๐ฌ ๐๐๐ซ๐ค๐๐ญ: ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
Powering automotive, medical devices, aerospace, and electronics manufacturing industries worldwide have created a robust foundation for wire harness manufacturers. Considering the demand from the automotive industry alone, the rising electronics and electrical complexity in vehicles today has been a key driver for the wire harness market. New generation vehicles at times contain more than 150 pounds of wiring, which subsequently results in application of thousands of wire harnesses in a single vehicle.
Despite the drop in sales of electric vehicles in 2020, their demand is projected to grow in the long term, as batteries become more affordable and the charging infrastructure becomes more widely available. This trend in electric vehicle production and distribution is expected to have a significant impact on the wire harness market.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ @https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=74033
Furthermore, the increase in electrical and electronic features in modern vehicles is placing more emphasis on wiring harnesses that transmit power and signals between actuators, sensors, and ECUs. The continued development of advanced driver assistance systems (ADAS) and electric powertrains has been particularly impactful, as they require additional sensor hardware and specialty wiring to transmit data and power. Furthermore, increasing demand for driver assistance systems and electrically propelled cars are driving growth in the wire harness manufacturing industry.
๐๐๐ญ ๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=74033
Wire Harness Market: Prominent Regions
The demand for wire harnesses in the Asia Pacific region is estimated to expand at a faster pace than any other region. Europe and North America hold a prominent position in the overall wire harness market due to rising application of wire harnesses across myriad verticals, including transportation, automobiles, appliances, and electrical equipment in prominent countries, which include the U.S., the U.K., Canada, France, Germany, and various other European countries. The explosive trend of electric vehicles and their adoption across the globe is likely to boost the growth of the wire harness market all over the globe.
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Key players operating in the global wire harness market are Aptiv Plc, Fujikura Ltd. Furukawa Electric Co., Lear Corp. LEONI AG, THB Group, Yazaki Corporation, Sumitomo Electric Industries Ltd., Motherson Group, and AmWINS Group Inc.
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
Rohit Bhisey
Transparency Market Research Inc.
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