Press release
Automotive Wiring Harness Market to Surpass US$ 99.7 Billion at a CAGR of 4.4% by 2027
The global automotive wiring harness market reached a value of US$ 76.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 99.7 Billion by 2027, exhibiting at a CAGR of 4.4% during 2022-2027. An automotive wiring harness is an organized set of wires, connectors, and terminals that run throughout the entire vehicle for supplying electric power to various components. It comprises grommets, outer coverings, insulators, relays, and an insulation jacket. It is made of durable materials, such as copper and aluminum alloy wires, on account of their strength and bending properties. It is designed according to the electrical and geometrical requirements of automobiles and embedded into the dashboards, door locks, power windows, body, and engine. Automotive wiring harness is also integrated in speed sensors, lock-breaking systems, cruise control systems, fuel injection systems, and other chassis of vehicles. It aids in reducing the installation time of the electrical components and minimizing the risks of incorrect wiring possibilities and short circuits. Moreover, as it is lightweight, carries heavy power loads, and can withstand harsh conditions, an automotive wiring harness is widely used in two-wheelers, passenger cars, utility, and commercial vehicles across the globe.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/automotive-wiring-harness-market/requestsample
Automotive Wiring Harness Market Trends and Drivers:
At present, the burgeoning automotive industry, coupled with the increasing adoption of electric vehicles (EVs) on account of their environmental advantages and support in keeping vehicles safe, minimizing the risk of short-circuiting, and preventing serious damage, represents one of the key factors positively influencing the market. Apart from this, wiring harness offers highly stable, secure, and reliable connections of components and aids in improving the fuel efficiency of the vehicle, which is bolstering the market growth. Moreover, the rising need for new, innovative technologies and efficient design principles to develop and manufacture products that meet the requirements of the automotive industry is propelling market growth.
Besides this, various product innovations, such as the development of lightweight aluminum harnesses that help reduce overall vehicular weight are offering a favorable market outlook. The shifting consumer preferences towards cost-effective techniques for rapidly and accurately assembling the connections is also driving the demand for automotive wiring harness systems. Additionally, stringent government regulations mandating safety norms for electric vehicles (EVs), along with the introduction of various initiatives to promote the adoption of EVs, are bolstering the market growth. Moreover, the increasing utilization of cost-effective and reliable optical fibers and the escalating demand for Advanced Driver Assistance Systems (ADAS) in vehicles are contributing to the growth of the market. Other factors, such as rapid urbanization, inflating disposable incomes, and rising expenditure capacity of individuals, are augmenting the growth of the market.
Explore full report with table of contents: https://www.imarcgroup.com/automotive-wiring-harness-market
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Application:
Body Wiring Harness
Engine Wiring Harness
Chassis Wiring Harness
HVAC Wiring Harness
Sensors Wiring Harness
Others
Breakup by Material Type:
Copper
Aluminum
Others
Breakup by Transmission Type:
Data Transmission
Electrical Wiring
Breakup by Vehicle Type:
Two Wheelers
Passenger Cars
Commercial Vehicles
Breakup by Category:
General Wires
Heat Resistant Wires
Shielded Wires
Tubed Wires
Breakup by Component:
Connectors
Wires
Terminals
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Delphi Technologies (BorgWarner Inc.)
Furukawa Electric Co. Ltd.
Lear Corporation
Leoni AG
Nexans Autoelectric GmbH
PKC Group Plc (Motherson Sumi Systems Ltd.)
Samvardhana Motherson Automotive Systems Group B.V.
Sumitomo Electric Industries Ltd.
THB Group (AmWINS Group, Inc)
YAZAKI Corporation
YURA Corporation
Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=2158&flag=C
Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
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