Press release
Automotive Wire Harnesses Market Witness High Demand During by 2032
Automotive Wire Harnesses Market
An assembly of wires, terminals, and connectors known as a "automotive wiring harness" runs throughout the vehicle to transport data and electrical power. Automotive wire harness is integrated to connect various vehicle parts, including the body, engine, dashboard, chassis, and others. It is developed to meet the electrical and dimensional requirements of automobiles. To ensure fundamental operation and improved safety, an automotive wire harness facilitates transfer of control signals and electrical power to electronic and electrical devices.
The industry is expanding due to the creation of vehicles with cutting-edge safety features and technical improvements. Throughout the forecast period, increased use of electric vehicles is anticipated to support market growth. The use of aluminium and the installation of flexible wires in automotive wiring harnesses for greater power delivery and harness weight reduction are two factors anticipated to further accelerate the growth of this market. High maintenance costs, however, are anticipated to impede market expansion. Also, during the projection period, growth prospects are anticipated due to the rapid development of autonomous vehicles and proactive government policies relating to electric vehicles.
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The market for automotive wire harnesses is divided into many segments based on factors including material, vehicle type, voltage, application, and geography. It is divided into copper, aluminium, and other types of materials. It is divided into ICE vehicles, electric vehicles, and hybrid vehicles based on the kind of propulsion. It is divided into two-wheelers, passenger cars, and commercial vehicles based on the type of vehicle. Low voltage and high voltage now make up the voltage segment. Body & lighting, engine, HVAC, chassis, dashboard & cabin, and others make up the application segment. The report is broken down into North America, Europe, Asia-Pacific, and LAMEA for regional analysis.
Higher Uptake Of Electric Cars
Governments from all around the world are making efforts to encourage the use of electric vehicles. For instance, the Indian government reduced the GST component on electric vehicles in 2021 and granted a discount of Rs. 1.5 lakh on the purchase of four-wheel EVs. Because they are environmentally beneficial, electric cars help cut down on pollution. Electricity powers electric vehicles, and any damage to the wiring harness might result in catastrophic damage to the vehicles. As a result, the need for high-tech high voltage wire harness in electric vehicles is anticipated to support the market's expansion.
the creation of vehicles with cutting-edge safety equipment
To meet safety regulations, a number of automakers are taking steps to equip cars with improved safety and security features including airbags and cutting-edge driving systems. Autonomous Emergency Braking (AEB), Lane Departure Warning System (LDWS), and other safety systems in cars require electrical components as well as a top-notch wiring harness system. This is likely to raise demand for wire harnesses, which in turn is anticipated to increase demand for electronic components in automobiles.
Market Segmentation
Global Automotive Wire Harnesses Market: Segmentations
Global Automotive Wire Harnesses Market: By Types
Body Wire Harness
Chassis Wire Harness
Engine Wire Harness
HVAC Wire Harness
Speed Sensors Wire Harness
Others
Global Automotive Wire Harnesses Market: By Applications
Passenger Vehicle
Commercial Vehicle
Global Automotive Wire Harnesses Market: Major Players
Yazaki Corporation
Sumitomo
Delphi
Leoni
Lear
Yura
Fujikura
Furukawa Electric
PKC
Nexans Autoelectric
DRAXLMAIER
Kromberg&Schubert
THB
Coroplast
Coficab
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Global Automotive Wire Harnesses Market: By Regions
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Automotive Wire Harnesses market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Automotive Wire Harnesses would help in identifying future applications in this market.
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