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Global Wire Harness Market 2023: Industry Analysis, Size, Share, Growth, Trends, and Forecast 2032 || Fujikura Ltd., Samvardhana Motherson, Nexans S.A
Wire Harness Market
Wire Harness Market Size, Growth Rate, And Forecast
The global wire harness market size is expected to grow from $58.82 billion in 2022 to $63.17 billion in 2023 at a compound annual growth rate (CAGR) of 7.39%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wire harness market is expected to reach $78.52 billion in 2027 at a CAGR of 5.59%.
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Wire Harness Market Drivers
Growth in the automotive sector is driving the growth of the wire harness market going forward. The automotive sector refers to all the companies involved in manufacturing vehicles that, include two-wheelers, three-wheelers, and four-wheelers. The wiring harness is embedded in automobiles' bodies, engines, and chassis and is essential for their efficient performance and safety. For instance, according to The Society of Indian Automobile Manufacturers (SIAM), an India-based not-for-profit body representing all major vehicle and vehicular engine manufacturers, total passenger vehicle sales in India increased from 2,711,457 to 3,069,499 units in April 2021 to March 2022.
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Wire Harness Market Segments
• By Product Type: Wire Harness Connector, Wire Harness Terminal, Other Products
• By Material: PVC, Vinyl, Thermoplast Elastomer, Polyurethane, Polyethylene
• By Vehicle Type: Passenger Cars, Commercial Vehicles
• By Application: Automotive, Telecom, Medical, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the wire harness market.
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Wire Harness Market Key Players
Major competitors in the wire harness market are Fujikura Ltd., Samvardhana Motherson, Nexans S.A., Sumitomo Electric Industries, Yazaki Corporation, Yura Corporation, The Dräxlmaier Group, Furukawa Electric Co. Ltd., Lear Corporation, Leoni AG.
The Business Research Company's "Global Wire Harness Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Wire Harness Market Include:
1. Executive Summary
2. Wire Harness Market Characteristics
3. Wire Harness Market Trends And Strategies
4. Wire Harness Market - Macro Economic Scenario
5. Wire Harness Market Size And Growth
………………
27. Wire Harness Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Wire Harness Market
29. Wire Harness Market Future Outlook and Potential Analysis
30. Appendix
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