Electric Vehicle Wiring Harness Market Projected to reach US$ 7,167.0 million with CAGR of 16.9% by 2028

The Electric Vehicle Wiring Harness Market is expected to grow from US$ 2,398.5 million in 2021 to US$ 7,167.0 million by 2028; it is estimated to grow at a CAGR of 16.9% from 2021 to 2028. Increasing technological advancements and rising manufacturing of electric vehicles (EV) lead to the growing demand for lightweight wiring harnesses to achieve weight reduction and improved vehicle packaging. Changing consumer behaviour and growing demand for technology-led characteristics are projected to lead the auto industry extensively. Environment and safety regulations and norms implemented by governments across the globe require OEMs to invest in techniques that meet mobility demands. The transition from internal combustion engines to electric passenger and commercial vehicles in developed nations will contribute to the demand. Emerging markets, changing consumer preferences, and increasing automation are anticipated to revolutionize the EV industry by increasing technology-driven trends. The rise in demand for electric vehicle wiring harnesses to achieve improved performance, flexibility, and reliability is propelling the market's growth.

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The key players profiled in the Electric Vehicle Wiring Harness Market research study includes:

• Coroplast Fritz Müller Gmbh & Co. Kg
• Fujikura Ltd.
• Furukawa Electric Co. Ltd.
• Motherson Sumi Systems Ltd.
• Nexans Autoelectric GmBh
• Sinbon Electronics Co., Ltd
• Sumitomo Electric Industries, Ltd.
• THB Group
• Yazaki Corporation

Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Electric Vehicle Wiring Harness Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of COVID -19 Situation.

Market Segmentation:

By Vehicle Type [Plug-in Hybrid Electric Vehicles (PHEV), Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Fuel Cell Battery Electric Vehicles (FCBEV)], Product Type (High Voltage Wiring Harness and Medium Low Voltage Wiring Harness), and Material Type (Copper-Clad Wire, Aluminum Alloy Wire, Glass Optical fiber, Plastic Optical Fiber, and Others)

Surge in Electric Vehicle Sales with Advanced Features

Evolving consumer preferences and technological advancements are helping to reshape the electric vehicles (EV) industry significantly. China is one of the leading regions in terms of EV adoption. China is also the world's largest automobile market, with a rapidly increasing number of new fully electric or plug-in hybrid car sales. In Europe, Germany is offering financial incentives to consumers to purchase EVs. OEMs and suppliers across the globe are preparing for the shift toward EVs and away from internal combustion engine (ICE) vehicles. The increasing demand for comfortable vehicles with advanced features such as air conditioning, climate control, park-assist cameras, high-resolution intelligent displays, touch screens, rapid charging capability, and automatic wipers and lights is fueling the need for electric vehicle wiring harnesses.

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Primary Research:

"The Insight Partners" conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfils the following functions:

• Provides First-Hand Information on the Market Size, Market Trends, Growth Trends, Competitive Landscape and Future Outlook
• Validates and Strengthens Secondary Research Findings
• Further Develops the Analysis Team's Expertise and Market Understanding

Secondary Research:

The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information relating to each Market. The secondary research sources that are typically referred to include, but are not limited to:

• Company Websites, Annual Reports, Financial Reports, Broker Reports and Investor Presentations
• Industry Trade Journals and Other Literature
• National Government Documents, Statistical Databases and Market Reports
• News Articles, Press Releases and Web-Casts Specific to the Companies Operating in the Market

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NOTE: All the financials considered in Company Profile's section have been standardized to US$. This has been achieved after converting the financials (for those not in US$) with respective currency exchange rates of the particular year.

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